ALLENTOWN AND BETHLEHEM, PA. — New Jersey-based investment firm Denholtz Properties has acquired a portfolio of 18 industrial buildings totaling 723,734 square feet in the Lehigh Valley. Denholtz acquired the buildings, which are located in Allentown and Bethlehem, in a joint venture with an undisclosed partner. Brad Ruppel and Tristan Cade of CBRE represented the seller, PennCap Properties, in the transaction. The sales price was not disclosed.
OVERLAND PARK, KAN. — Archstone Capital has acquired The Louis Overland Park, a 200-unit townhome community in the Kansas City suburb of Overland Park. Archstone Construction, Archstone’s general contractor, will oversee the property’s upcoming improvements. The acquisition marks Archstone’s entry into the Kansas City market. The Louis Overland Park, formerly named Madison Overland Park, marks Archstone’s 13th acquisition in the Midwest. The property was acquired with equity from Archstone and affiliates in a partnership with Aspen Funds and 7Acre Investments. Planned improvements for the property include upgrades to amenity spaces, modernization of common areas and improvements to enhance curb appeal. Residents can expect state-of-the art appliances, modern flooring, upgraded light fixtures and hard surface countertops.
SAN DIEGO — Breakthrough Properties Inc. has acquired a 65 percent stake in Callan Ridge, a 185,000-square-foot research campus in San Diego’s Torrey Pines scientific research area. Healthpeak Properties (NYSE: PEAK), the project’s developer, retains a 35 percent stake in the asset. The formation of the joint venture values Callan Ridge at $236 million. Healthpeak began construction of the Callan Ridge campus in 2021. The two-building asset is fully leased to Turning Point Therapeutics Inc., a subsidiary of Bristol-Myers Squibb Co., through April 2035. The lease on 105,000 square feet commenced in July 2023. The lease on the remaining 80,000 square feet will commence in July of this year. The three-story, two-building complex augments part of Healthpeak’s 20-acre Torrey Pines Science Park. Callan Ridge features numerous sustainable features, including a canopy with integrated solar panels; electrochromic windows that change color to control sunlight and heat throughout the day; recycled steel and concrete; and drought-tolerant landscaping. The joint venture plans to pursue LEED Gold certification for the campus. The property also offers amenities such as a fitness center, restaurant, roof deck and patio space, as well as 506 parking stalls. Ferguson Pape Baldwin Architects designed the development. According to Healthpeak, Callan …
HOUSTON — Dallas-based investment firm Novel Office has acquired 3555 Timmons, a 225,895-square-foot office building in Houston’s Greenway Plaza district. The 15-story building, which according to LoopNet Inc. was originally constructed in 1982, offers amenities such as a conference center, tenant lounge, training room and onsite food-and-beverage options. The seller and sales price were not disclosed. The new ownership has hired Transwestern to lease the building.
HOUSTON — Locally based development and investment firm Pagewood has purchased Costa Mesa, a 152-unit apartment complex in northwest Houston. The property consists of 12 two-story buildings that house one- and two-bedroom units that range in size from 614 to 1,044 square feet. Amenities include a pool, clubhouse, playground, business center and onsite laundry facilities. Amegy Bank provided acquisition financing for the deal. The seller and sales price were not disclosed. Pagewood plans to implement a value-add program.
MISSION, TEXAS — Northmarq has brokered the sale of Las Misiones Apartments, a 118-unit multifamily complex located in the Rio Grande Valley city of Mission. Built in 2005, the property offers one-, two- and three-bedroom units that range in size from 751 to 1,359 square feet. Amenities include a pool, fitness center, business center, playground, clubhouse, basketball court and a lounge. McGuire Family Properties purchased the asset from a pair of private investors for an undisclosed price. Zar Haro, Moses Siller, Phil Grafe, Bryan VanCura and Brian Booth of Northmarq brokered the deal.
OKLAHOMA — Evans Senior Investments (ESI) has arranged the sale of an undisclosed, 95-bed skilled nursing community located about 85 miles south of Oklahoma City. ESI represented the seller, a private owner-operator, which sold the property to a West Coast-based investor with experience in skilled nursing operations. Both parties requested anonymity.
BOSTON — New York-based investment firm Aker has acquired Pelham Hall Apartments, a 148-unit mid-rise building in Boston’s Brookline area, for $70 million. The building was originally constructed in 1926 and includes 14,601 square feet of retail space. Units come in studio, one-, two- and three-bedroom floor plans, and amenities include a fitness center, laundry facilities and a rideshare lounge. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the undisclosed seller in the transaction. John Kelly of CBRE arranged acquisition financing for the deal.
JACKSON TOWNSHIP, N.J. — New Jersey-based investment firm Horizon Equities has purchased Jackson Health Village, a 150,000-square-foot medical office building in New Jersey’s Ocean County, for $24 million. The three-story building was built on 11.3 acres in 2014 and was 64 percent occupied at the time of sale. Jeremy Neuer, Jose Cruz, Dan Loughlin, Tom Stanton and Matt Loughlin of JLL represented the undisclosed seller in the transaction and procured Horizon Equities as the buyer.
FAIRFIELD, CONN. — Locally based brokerage firm Angel Commercial has negotiated the $2.4 million sale of a 4,500-square-foot retail property in the southern coastal Connecticut city of Fairfield. The property at 1610 Post Road is located in the downtown area and is fully leased to tenants such as Greek restaurant Lantern Point Taverna, confectionary Bonkers Cupcakes and boutique clothing store BoHo Prep. Jon Angel of Angel Commercial brokered the deal. The buyer and seller were not disclosed.