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.
JERSEY CITY, N.J. — Hudson Atlantic Realty has brokered the $2.3 million sale of Grand Gardens, a 16-unit apartment complex located in the Bergen-Lafayette area of Jersey City. The property was originally built in 1950 and houses one- and two-bedroom units. Ben Susskind and Adam Zweibel of Hudson Atlantic brokered the deal. The buyer and seller were not disclosed. The deal traded at a cap rate of 4.46 percent.
MIDDLETON, WIS. — JLL Capital Markets has negotiated the $27.3 million sale of a 200,000-square-foot office building in Middleton near Madison. The fully leased property is located at 7974 UW Health Court. UW Health occupies the four-story building and utilizes it for its administrative departments, including management, information services, compliance and patient billing services. Jaime Fink of JLL represented the seller, Investors Associated LLP. Fink also procured the buyer, AJC Investment Group, a family office located in Bloomfield Hills, Mich.
BERWYN, ILL. — Interra Realty has brokered the $10.4 million sale of reVerb Century Station in the Chicago suburb of Berwyn. The 52-unit apartment building features 10,662 square feet of ground-floor commercial space. The sales price represents a record price for multifamily or mixed-use properties in Berwyn, according to CoStar. Constructed in 2010 and located at 3200 S. Oak Park Ave., the property features four ground-floor retail suites, 12 one-bedroom apartments and 40 two-bedroom units. Joe Smazal, Patrick Kennelly and Paul Waterloo of Interra represented the undisclosed seller. The team also represented the buyer, an investment group that assumed the loan from the seller. The buyer plans to renovate common areas and add a package system for residents.
