REBusinessOnline

Rosewood Realty Group Negotiates $24.5M Multifamily Portfolio Sale in The Bronx

NEW YORK CITY — Rosewood Realty Group has negotiated the $24.5 million sale of a portfolio of seven multifamily buildings in The Bronx. The first property at 45 E. Moshulu Parkway North in the Norwood area was built in 1926 and totals 71 units. The second complex at 501 W. 147th St. in Hamilton Heights was constructed in 1930 and comprises 33 apartments and four commercial spaces. Lastly, the asset at 741-745 E. 217th St. in Olinville was built in 2005 and totals 21 units. Aaron Jungreis, Ben …

Avison Young Brokers $15.5M Sale of Two Apartment Buildings in New York City’s East Village

NEW YORK CITY — Avison Young has brokered the $15.5 million sale of two apartment buildings in New York City’s East Village neighborhood. The 10-unit building at 164 First Ave. includes three retail spaces and sold for $10.4 million, while the four-story property at 218 E. Ninth St. fetched a price of $5.1 million. Brandon Polakoff, James Nelson, Eric Karmitz and Ryan McGuirl of Avison Young represented the seller of 218 East 9th Street. Polakoff and McGuirl also handled the sale of 164 …

Howard Hughes Corp., Jerry Colangelo Buy 37,000 Acres in Phoenix for Massive Douglas Ranch Mixed-Use Project

PHOENIX — The Howard Hughes Corp. (NYSE: HHC) and local business magnate Jerry Colangelo are partnering to develop Douglas Ranch, a large-scale, master-planned community in Phoenix. HHC and Colangelo have purchased 37,000 acres for the project in Phoenix’s West Valley region for $600 million.Upon full buildout, Douglas Ranch will comprise 100,000 homes for 300,000 residents, as well as 55 million square feet of commercial development. The partnership plans to launch residential lot …

Bioscience Properties, Harrison Street Acquire Two-Building Office Property in San Diego for $41.3M

SAN DIEGO — Bioscience Properties and Harrison Street have purchased Sorrento Heights, a two-building office asset in San Diego, for $41.3 million. The seller was a fund managed by DRA Advisors LLC in partnership with Cypress Office Properties.Located at 9980 and 10020 Huennekens St., Sorrento Heights features 92,875 square feet of office space spread across two two-story buildings, an open breezeway, outdoor seating and tenant parking. At the time of sale, the property was 68 percent …

IPA Negotiates $64M Sale of Delano Multifamily Community in Mesa, Arizona

MESA, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Delano, an apartment property located along Gilbert Road in Mesa. S2 Capital sold the asset to Western Wealth Capital for $64 million, or $241,509 per unit.Cliff David and Steve Gebing of IPA represented the seller and procured the buyer in the deal.Built in 1980 on 20 acres, Delano features 265 apartments, a fitness center, swimming pool, dog park and an outdoor Wi-Fi …

Capstone Arranges $7.1M Sale of Macon Flats Apartment Complex in Aurora, Colorado

AURORA, COLO. — Capstone has brokered the sale of Macon Flats, a five-building multifamily portfolio in Aurora. The asset traded for $7.1 million. The names of the seller and buyer were not released.Macon Flats features 56 one-bedroom units and one two-bedroom unit. The buyer plans to renovate the property to modernize the asset.Sean Holamon and Jason Koch of Capstone represented the seller and buyer in the

Marcus & Millichap Brokers $6.1M Sale of Sunset Mesa Multifamily Community in Mesa, Arizona

MESA, ARIZ. — Marcus & Millichap has arranged the sale of Sunset Mesa, an apartment building located at 237 S. Ashland in Mesa. A private investor acquired the asset from another private investor for $6.1 million.Built in 1983, Sunset Mesa features 40 units in a mix of 19 one-bedroom/one-bath, eight two-bedroom/one-bath and 13 three-bedroom/one-bath layouts. Community amenities include a swimming pool, laundry facilities and an interior amenity space.Darrell Moffitt and Paul Bay …

Marcus & Millichap Brokers Sale of 563-Unit Self-Storage Facility in Oklahoma City

OKLAHOMA CITY — Marcus & Millichap has brokered the sale of Apublix Self Storage, a 563-unit facility in Oklahoma City. The property encompasses 83,960 net rentable square feet of climate- and non-climate-controlled space. Bryan Quaschnick, Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the

Industrial Outdoor Ventures Acquires Two Properties Totaling 62,000 SF in Illinois, Indiana

AURORA, ILL. AND WHITESTOWN, IND. — Industrial Outdoor Ventures (IOV) has acquired a 39,450-square-foot property at 1401 N. Farnsworth Ave. in Aurora as well as a 22,500-square-foot facility at 4212 Perry Blvd. in Whitestown. The seller and purchase price were undisclosed. IOV owns properties in the outdoor storage facility space. Both of these properties are designed for truck maintenance and repair and are fully occupied by MacQueen, an environmental and emergency service and products …

Joint Venture Sells Apartment Community in Tarpon Springs, Florida for $65.7M

TARPON SPRINGS, FLA. — DDA Development, in partnership with Backstreets Capital and Atlantic American Partners, has sold Icaria on Pinellas, a 236-unit, Class A apartment complex in Tarpon Springs. The sales price was $65.7 million, or $278,179 per unit. Washington, D.C.-based RSE Capital Partners was the buyer. Walker & Dunlop represented the sellers.Located on 6.5 acres at 1185 South Pinellas Ave., Icaria on Pinellas offers a mix of one-, two- and three-bedroom units. The apartments …

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