Acquisitions

COLUMBIA, S.C. — Inland Real Estate Acquisitions has purchased the Sawyer on Lincoln, a 673-bed student housing community located adjacent to the University of South Carolina campus in Columbia. Inland acquired the newly delivered property on behalf of an affiliate. The seller and sales price were not disclosed. Delivered in 2023, the 277-unit Sawyer on Lincoln features one-, two- and three-bedroom, fully furnished apartments with bed-to-bath parity. Shared amenities include private and group study rooms, a 24-hour fitness center, gated resident parking garage with 525 parking spaces, package locker system for parcels, social lounge with kitchen and TVs, resort-style pool with lounge seating and a hot tub and an outdoor courtyard with games. The Sawyer on Lincoln was fully occupied at the time of sale.

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OVERLAND PARK, KAN. — Berkadia has arranged the sale of The Highlands, a 448-unit multifamily property in the Kansas City suburb of Overland Park. The community features one-, two- and three-bedroom units with two saltwater pools, a fitness center, renovated clubhouse and business center. Jason Parr, Scott MacDonald, John Hansen, Michael Spero and Niko Vrentas of Berkadia represented the seller, California-based St. Regis Properties LLC, and the buyer group, which acquired the property through San Francisco-based sponsor Hamilton Zanze & Co. Clay Akiwenzie of Berkadia arranged $53.3 million in permanent acquisition financing on behalf of the buyer. Fannie Mae provided the 10-year loan.

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ANOKA AND CRYSTAL, MINN. — Colliers has brokered the sale of two multifamily properties in Minnesota for $15.9 million. Meadowview totals 60 units and is located in Anoka, a northern suburb of Minneapolis. Valley Place Apartments totals 71 units and is located in Crystal, about five miles north of downtown Minneapolis. Devon Dvorak, Mox Gunderson, Dan Linnell and Adam Haydon of Colliers represented the seller, Bader Management Inc. Los Angeles-based Coast View Strategies was the buyer. Since 2015, ownership has invested more than $2 million renovating most of the units. At the time of sale, both properties were more than 95 percent leased.

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LA VISTA, NEB. — Marcus & Millichap has arranged the $6.4 million sale of Val Verde Place Shopping Center in La Vista, a southern suburb of Omaha. Located at 9631 Giles Road and built in 2000, the property totals 48,712 square feet. Chris Garavaglia, Alex Perez and Austin Sweet of Marcus & Millichap represented the seller, a private equity group based on the East Coast, and procured the buyer, a Midwest-based 1031 exchange investor. The asset closed at 99 percent of the list price.

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MADISON, TENN. — JLL has brokered the $9.8 million sale of Rivergate Square, an 81,935-square-foot shopping center located at 1584 Gallatin Pike N in Madison, a suburb of Nashville. Jim Hamilton and Brad Buchanan of JLL represented the seller, Albanese Cormier, in the transaction. The buyer was not disclosed. Rivergate Square was fully leased at the time of sale to tenants including Dollar General, Office Depot, dd’s Discounts and Jimmy John’s.

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Centerport-1-Fort-Worth

FORT WORTH, TEXAS — Cushman & Wakefield has arranged the sale of Centerport 1, a 122,259-square-foot distribution building in Fort Worth. The building is located just south of DFW International Airport within the 1,300-acre Centerport Business Park and was fully leased at the time of sale to print and digital communications products provider Venture Solutions. Jim Carpenter, Jud Clements, Robby Rieke and Trevor Berry of Cushman & Wakefield represented the undisclosed seller in the transaction. Rob Rubano, Max Schafer and Brian Share, also with Cushman & Wakefield, arranged acquisition financing on behalf of the buyer, Founders Properties.

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SAN ANTONIO — CBRE has brokered the sale of an 80,000-square-foot office building located at 3900 Rogers Road on the west side of San Antonio. According to LoopNet Inc., the building was originally constructed in 2005. Larry Mendez and Yobana Castillo of CBRE represented the buyer, COPT Defense Properties, in the transaction. Chesapeake Associates Ltd. sold the asset for an undisclosed price.

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Mi-Place-@-West-Rancocas

MOUNT HOLLY, N.J. — Marcus & Millichap has brokered the $33.6 million sale of Mi-Place @ West Rancocas, a 108-unit apartment complex in the Southern New Jersey community of Mount Holly. The property comprises 96 apartments and 12 two-story townhouses, each with an attached garage. Amenities include a clubhouse with a resident lounge, fitness center, game room, pool and a dog park. Chez Eider and Andrew Townsend of Marcus & Millichap represented the seller, Fernmoor Homes, in the transaction. The buyer was Universe Holdings.

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NEW HAVEN, CONN. — Locally based investment firm Water Street Properties has acquired an interest in a 252,000-square-foot office building in New Haven. The percentage was not disclosed. The building is located within the Long Wharf Maritime Center development and is home to tenants such as Ameriprise, Barclay Damon, Knights of Columbus, Morgan Stanley and Tek System. Evan O’Brien of Cushman & Wakefield arranged the sale of the interest from Knights of Columbus to Water Street, which now has operating control of the building, and has also been retained as the leasing agent.

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PASADENA, CALIF. — Pasadena, Calif.-based ExchangeRight has purchased 13 net-leased properties as a sale-leaseback transaction with Tractor Supply. Totaling more than 425,000 square feet, the properties are in Arizona, Florida, Georgia, Indiana, Maryland, Ohio, Pennsylvania, South Carolina and Texas. With this acquisition, ExchangeRight has expanded its portfolio of assets net leased to Tractor Supply to more than 100 properties as of Oct. 31, 2024.

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