GREENSBORO, N.C. — Colliers has brokered the sale of Edgewater Village, a 483-unit, garden-style apartment community located at 5500 Weslo Willow Circle in Greensboro. Will Mathews, Thomas Leachman, Chad DeFoor and Jake Bradshaw of Colliers brokered the transaction. Built in 1974, Edgewater Village sits on 45 acres and features five internal lakes. The property offers studio, one- and two-bedroom floor plans.
CHAPEL HILL, N.C. — Cleveland-based Woodside Health has acquired Meadowmont Crossing, a three-story, 40,000-square-foot medical office building located at 400 Meadowmont Village Circle in Chapel Hill. The seller was an affiliate of Curbline REIT doing business as CL MEADOWMONT VILLAGE NC LP. The sales price was not disclosed. Built in 2001, the property is situated off NC Highway 54 and is anchored by UNC Health, a state-owned health system that operates 16 hospitals and hundreds of clinics across North Carolina.
PASSAIC, N.J. — Cushman & Wakefield has brokered the $49 million sale of The Pennington, a 147-unit apartment building in the Northern New Jersey community of Passaic. Completed in 2024, The Pennington is an adaptive reuse building that offers studio, one-, two-, three- and four-bedroom units with an average size of 968 square feet. P3 Properties acquired the asset from Birch Group. Niko Nicolaou, Ryan Dowd, David Bernhaut, Peter Welch, J.P. Hohl and Alexandria Russo Ebers of Cushman & Wakefield brokered the deal. Brad Domenico, John Alascio, Chuck Kohaut, Frank Stanislaski, Ethan Thompson and Jack Subers, also with Cushman & Wakefield, arranged $45.9 million in acquisition financing for the transaction through Prime Finance.
TUCSON, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of River Oaks, a 300-unit multifamily property located on Boardway Boulevard in East Tucson. Terms of the transaction were not disclosed. IPA’s Clint Wadlund and Hamid Panahi represented the seller and procured the buyer. Built in 1982 on 10 acres, River Oaks features a mix of studio, one- and two-bedroom apartments. Community amenities include a standalone clubhouse, two pools, a playground and three laundry facilities.
QUEEN CREEK, ARIZ. — Phoenix Commercial Advisors has facilitated the off-market sale of Pecan Plaza Shops, an entertainment and fitness shadow-anchored multi-tenant retail center in Queen Creek. The property sold for $13.5 million, or $656.83 per square foot. Built in 2022, the 20,325-square-foot asset was fully leased at the time of sale. The asset is located at the northwest corner of Ellsworth and Riggs roads. John Schweikert and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller. The name of the buyer was not released. The sale of Pecan Plaza Shops marks the final piece of the center sold as part of the seller’s breakup strategy, which was executed in full by Phoenix Commercial Advisors.
HOBOKEN, N.J. — CBRE has negotiated the $8.2 million sale of a two-story retail property in downtown Hoboken. According to LoopNet Inc., the property at 226-228 Washington St. was built in 1967 and totals 15,393 square feet. The buyer and seller were both limited liability companies. Charles Berger and Sam Bernhault brokered the deal on behalf of both parties.
MORAVIA, IOWA — TopSide Marinas has acquired Rathbun Lake Marina, a full-service marina and resort destination located on Rathbun Lake in Moravia, a city in southern Iowa. The acquisition marks the company’s entry into the Iowa market. The 160-acre leasehold property with the U.S. Army Corps of Engineers features 246 wet slips, boat rentals, four campgrounds with 144 campsites and a 12-room hotel. Louie’s Lakeside Bistro and Barbecue is an independently operated restaurant that is open onsite from April 15 through Oct. 15 and is accessible by boat, camper or car. Established in 2010, Rathbun Lake Marina offers amenities such as a soccer field, frisbee golf and other activities. TopSide Marinas plans to invest in several enhancements, including expanding capacity with an increased total slip count as well as adding roofs to uncovered docks and introducing a service department. To accommodate additional public boat launches, the boat rental operation and parking area will both be expanded.
SKOKIE, ILL. — Greenstone Partners has brokered the $3.9 million sale of Gross Point Crossing, a 19,000-square-foot retail center in Skokie. Brewster Hague and AJ Patel of Greenstone represented the seller, a Chicago-based private investor, and procured the buyer, an Ohio-based private real estate investment firm. The value-add property was 67 percent occupied at the time of sale. Located at the signalized intersection of Gross Point Road and Dempster Street, the asset features a mix of food and service-oriented tenants.
CHEVY CHASE, MD. — Forbright Bank has brought in R3 Ventures in the acquisition of Chase Tower, a 12-story office building located at 4445 Willard Ave. in Chevy Chase, a Maryland suburb of Washington, D.C. Forbright Bank is the anchor tenant of Chase Tower, which has served as the bank’s headquarters since 2020. The property features 227,000 square feet of office space and 18,000 square feet of retail space, including a bank branch for Forbright Bank. The seller and sales price were not disclosed. Cushman & Wakefield represented the new ownership in the transaction, and Eastdil Secured represented the seller. In addition to co-investing in the acquisition, R3 Ventures will oversee asset management duties at the office building, including the leasing strategy and capital improvements. The new ownership has also retained JBG Smith as the property manager for the office building.
FORT COLLINS, COLO. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an eight-property seniors housing portfolio located in Colorado. A Fort Collins-based seller, which also served as the portfolio’s operator, sold the portfolio to a Tennessee-based REIT for an undisclosed price. Totaling 540 units, the communities are located in Fort Collins, Loveland and Windsor. An Oregon-based operator will manage the portfolio on behalf of the new ownership. Vince Viverito, Jason Punzel and Jeff Binder of SLIB represented the seller in the deal. SLIB previously brokered the sale of a five-community senior living portfolio on behalf of the seller. With this transaction, the seller has fully divested its 13-asset seniors housing portfolio.
