TIGARD, ORE. — Trion Properties has completed the disposition of York Apartments, a multifamily building in Tigard. An undisclosed buyer acquired the asset for $10.8 million, or $209,000 per unit. Located at 7582 SW Hunziker St., York Apartments features 52 units in a mix of three studio units, 48 two-bedroom/one-bath units and one four-bedroom/two-bathroom unit. Rob Marton of HFO Investment Real Estate represented the seller, while Greg Frick of HFO represented the buyer in the deal.
UNION CITY, WEST NEW YORK AND JERSEY CITY, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $11.1 million sale of a portfolio of three multifamily buildings totaling 66 units in Northern New Jersey. The portfolio consists of a 44-unit complex in Union City that sold for $6.2 million; a 16-unit property in West New York that traded for $3.8 million; and a six-unit building in Jersey City that fetched a price of $1.1 million. Don Baxter of Kislak brokered the deal. All parties requested anonymity.
HOUSTON — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Icon at Yorktown, a 115-unit apartment complex in northwest Houston. Built on three acres in 2021, Icon at Yorktown offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, outdoor grilling stations, package lockers, resident lounge and a coffee bar. Travis Austin, Greg Austin, Jackson Hart, Drew Kile and Will Balthrope of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
ATTLEBORO, MASS. — RK Centers, an owner-operator with offices in New England and South Florida, has acquired Bristol Place, a 415,404-square-foot retail power center located south of Boston in Attleboro. The center sits on a 45.5-acre site along State Route 1A and is home to tenants such as grocer Market Basket, Home Depot, T.J. Maxx, Burlington, Hobby Lobby, Edge Fitness, Bob’s Discount Furniture and Party City. Nat Heald of CBRE represented the seller, an affiliate of Unison Realty Partners, in the transaction. RK Centers will rebrand the property, which was 96 percent leased at the time of sale, as RK Bristol Place.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $5 million sale of a multifamily development site in the Cobble Hill area of Brooklyn. The site at 232 Smith St. allows for 10,000 square feet of buildable space that will include retail usage. Sean Kelly, Nicole Daniggelis, Stephen Vorvolakos, Shimon Shkury and Victor Sozio of Ariel Property Advisors represented the undisclosed seller in the transaction. The buyer was also not disclosed.
LOS ANGELES — Standard Communities has led a public-private partnership that acquired six Section 8 communities in Los Angeles County with a total of 407 units. Five of the communities are affordable seniors housing. Standard will extend the communities’ affordability by 20 years under new HUD Housing Assistance Payments contracts. The transaction has a total capitalization of approximately $122 million, including planned renovation costs of over $8 million. The six communities were built between 1969 and 1980. “Extending the affordability of all 407 apartment units isn’t just a matter of housing; it’s a commitment to sustaining the heart of our community. We are not only ensuring that seniors and families have an affordable place to call home, we’re also nurturing the vibrant social and economic fabric of Los Angeles County,” says Jeffrey Jaeger, co-founder and principal of Standard Communities. “This investment brings our portfolio in Los Angeles County to over 1,700 units.” The assets include: • Oxford Park, a 109-unit senior community • Rayen Park, an 84-unit senior community • Sherman Arms, a 74-unit senior community • Villa Marisol, a 48-unit senior community • Columbus Terrace, a 42-unit senior community • Villa San Dimas, a 50-unit family community Standard Communities partnered in this transaction with the …
SCOTTSDALE, ARIZ. — Miller Global Properties has completed the disposition of Canopy by Hilton Scottsdale Old Town, located at 7142 E. 1st St. in Scottsdale. Dynamic City Capital acquired the hotel for $102 million, according to local business journals. Built in 2020, Canopy by Hilton Scottsdale Old Town features 177 guest rooms and two restaurants — Outrider Rooftop and Cobre Kitchen. Additionally, the property is within walking distance to more than 100 restaurants, venues and art galleries. Rick Rush and Carter Gradwell of CBRE Hotels represented the seller in the transaction.
CENTENNIAL, COLO. — NavPoint Real Estate Group has arranged the sale of a flex building, located at 7076 S. Alton Way, Building B in Centennial. Crosspoint Community Church sold the asset to Coram Deo Reformer Church for $2.2 million. The 9,840-square-foot building features a church build out, parking and landscaping. Matt Call of NavPoint represented the seller, while Tom Matthews of Pinnacle Real Estate Advisors represented the buyer in the transaction.
NOBLESVILLE, IND. — CBRE has brokered the sale of Princeton Lakes, a 208-unit apartment community in the Indianapolis suburb of Noblesville. Completed in 2005, the property at 17955 Murray Place features a range of one, two- and three-bedroom floor plans averaging 1,021 square feet. Amenities include a pool, picnic area, clubhouse, playground and walking trails. Steve LaMotte Jr., Dane Wilson and Ross Wettersten of CBRE represented the seller, Pedcor Cos. A local private investor purchased the property for an undisclosed price.
ELGIN, ILL. — Kingsbarn Realty Capital has acquired a 61,888-square-foot industrial facility in Elgin that serves as the headquarters of GoldCoast Logistics. Located at 1425 Madeline Lane, the build-to-suit property was completed in 2022. GoldCoast Logistics has now entered into a 20-year triple net lease with Kingsbarn with rental increases of 2.5 percent per year. The building features a clear height of 30 feet, 12 dock-high overhead doors and four drive-in doors. GoldCoast has a fleet of more than 1,500 trucks and trailers, has more than 1,200 employees and handles over 70,000 shipments each year.
