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Acquisitions

The-Royalton-at-Discovery-Rockwall
AcquisitionsMultifamilyTexas

SWBC Real Estate Sells 295-Unit Royalton at Discovery Apartments in Rockwall, Texas

by Taylor Williams

ROCKWALL, TEXAS — Locally based developer SWBC Real Estate has sold The Royalton at Discovery, a 295-unit apartment community in Rockwall, approximately 25 miles northeast of Dallas. Completed in 2023, The Royalton at Discovery offers one-, two- and three-bedroom floor plans with an average size of 1,015 square feet. Select units feature direct access or detached garages. Amenities include a clubhouse, pool and cabanas, fitness center and an outdoor gaming center. Bonaventure acquired the property for an undisclosed price. Drew Kile, Joey Tumminello, Michael Ware and Taylor Hill of Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the deal.

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AcquisitionsRetailTexas

JLL Brokers Sale of 96,486 SF Mason Village Shopping Center in West Houston

by Taylor Williams

HOUSTON — JLL has brokered the sale of Mason Village Shopping Center, a 96,486-square-foot retail center in West Houston. Ethnic grocer La Michoacana anchors the center, and other tenants at the property include Harbor Freight, Freebirds, Jiffy Lube and Jason’s Deli. Ryan West, John Indelli and Clay Anderson of JLL represented the seller, North Carolina-based investment and management firm DNA Partners, in the transaction. Boston-based investment firm Longpoint Realty Partners acquired Mason Village for an undisclosed price.

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AcquisitionsHealthcareTexas

Healing Realty Trust Buys El Paso Medical Office Building for $7.1M

by Taylor Williams

EL PASO, TEXAS — Healing Realty Trust, a Florida-based REIT focused on healthcare assets, has purchased a 50,000-square-foot medical office building in El Paso for $7.1 million. The four-story building is situated on a 2.2-acre site at 1810 Murchison Drive within the Pill Hill Medical District. According to LoopNet Inc., the property was originally built in 1978 and subsequently renovated in 2020. Tenants include WellMed, Quest Diagnostics, Optum and Universal Health Services. The seller was not disclosed.

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Residences-at-Stevens-Pond-Saugus-Massachusetts
AcquisitionsMassachusettsMultifamilyNortheast

Waterton Buys 326-Unit Apartment Community in Saugus, Massachusetts

by Taylor Williams

SAUGUS, MASS. — Chicago-based investment firm Waterton has purchased Residences at Stevens Pond, a 326-unit community in Saugus, approximately 10 miles north of Boston. Constructed in 2003, Residences at Stevens Pond consists of 25 three-story residential buildings and a clubhouse building. The community features one-, two- and three-bedroom units, including apartments, lofts and townhomes. Amenities include a pool and spa, outdoor pavilion with fireplace, fitness center, arcade, indoor half-basketball court and a golf simulator. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, Los Angeles-based investment firm JRK Property Holdings, in the transaction and procured Waterton as the buyer. The new ownership plans to renovate the unit interiors and common areas at the community. Planned updates include new quartz countertops, backsplashes and cabinets, as well as lighting and plumbing fixtures throughout.

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AcquisitionsMultifamilyNew YorkNortheast

GFI Realty Arranges $5.6M Sale of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm GFI Realty Services has arranged the $5.6 million sale of a 49-unit apartment building at 100 Fort Washington Ave. in Manhattan’s Washington Heights neighborhood. Constructed in 1930, the six-story building houses a mix of one-, two-, three-, four- and five-bedroom units. Zachary Fuchs and Matthew Sparks of GFI Realty represented the seller in the transaction, while Sparks also procured the buyer. Both parties were private investors.

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AcquisitionsIndustrialNew YorkNortheast

Ariel Property Advisors Negotiates $3.2M Sale of Brooklyn Industrial Property

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $3.2 million sale of an industrial property in Brooklyn. The site at 193-199 Varet St. comprises a two-story, 3,783-square-foot building and a 7,500-square-foot vacant lot. According to LoopNet Inc. the building was constructed in 1975 and features a clear height of 15 feet. Sean Kelly and Benjamin Vago of Ariel represented the seller, the Armel Family, in the transaction. The buyer was not disclosed.

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14798-SE-Parkland-Dr-Happy-Valley-OR
AcquisitionsMultifamilyOregonWestern

Cobalt Sells 180-Unit Sonder Fields Apartment Complex in Happy Valley, Oregon

by Amy Works

HAPPY VALLEY, ORE. — Cobalt has completed the disposition of Sonder Fields, a multifamily property located at 14798 SE Parkland Drive in Happy Valley. An undisclosed buyer acquired the asset for $58.2 million. Built in 2023, Sonder Fields offers 180 one-, two- and three-bedroom apartments with stainless steel appliances, Shaker cabinets, luxury vinyl plank flooring, Calcutta quartz countertops, deep basin kitchen sinks, under cabinet lighting, large kitchen islands, nine-foot ceilings and LATCH keyless entry. Onsite amenities include a 24-hour fitness center, dog park, clubhouse lounge, saltwater pool, hot tub, barbecue picnic areas and private coworking spaces. Ira Virden, Carrie Kahn and Frank Solorzano of JLL Capital Market’s Investment and Sales Advisory team represented the seller in the transaction.

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Three-Industrial-Bldgs-West-Valley-City-UT
AcquisitionsIndustrialUtahWestern

Hyde Development, Mortenson Properties Buy Nine-Building Industrial Portfolio in Salt Lake City

by Amy Works

SALT LAKE CITY and WEST VALLEY CITY, UTAH — A partnership between Hyde Development and Mortenson Properties has acquired the Salt Lake City Industrial Portfolio, a nine-building infill portfolio located just south of the Salt Lake City International Airport near the convergence of interstates 15 and 80. Terms of the transaction were not released. The portfolio is comprised of five single-tenant and four multi-tenant buildings totaling 787,000 square feet. At the time of sale, the asset was 96 percent leased to 13 blue-chip tenants. The portfolio includes 3595 W. Technology Drive and two buildings at 2323 S. 3600 West in West Valley City, and 2555-2595 W. Custer Road, 2525 W. 1700 South, 2534 W. Bridger Road, 2415-2435 E. Custer Road, 1765 Fremont Drive and 1855 Fremont Drive in Salt Lake City. Jeremy Ballenger, Tyler Carner, Rebecca Perlmutter and Brett Hartzell of CBRE National Partners represented the undisclosed seller in the deal.

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AcquisitionsIndustrialMidwestMinnesotaSelf-Storage

U-Haul Acquires Five Self-Storage Properties Totaling 790 Units in Northern Minnesota

by Kristin Harlow

BRAINERD, MINN. — U-Haul has acquired five former KO Storage facilities across Cass and Crow Wing counties in northern Minnesota. The properties are all located within the Brainerd metropolitan area and feature 790 drive-up units. Specifically, the facilities are located in Brainerd, Baxter, Nisswa and Pillager. The seller and sales price were not provided.

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AcquisitionsIndustrialMidwestMissouri

Marcus & Millichap Brokers $2M Sale of Industrial Property in Raytown, Missouri

by Kristin Harlow

RAYTOWN, MO. — Marcus & Millichap has brokered the $2 million sale of a 34,560-square-foot industrial property in Raytown, a southern suburb of Kansas City. Built in 1985, the facility is situated on 2.5 acres near I-435. Peter Doughty of Marcus & Millichap procured the 1031 exchange buyer. The seller was undisclosed. Dave Saverin, broker of record in Missouri, assisted in closing the transaction.

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