TROY AND ROCHESTER HILLS, MICH. — JLL Capital Markets has arranged the sale of Anthology of Troy and Anthology of Rochester Hills, two seniors housing communities totaling 184 units in metro Detroit. The sales price was undisclosed. Jay Wagner, Rick Swartz and Jim Dooley of JLL represented the seller and procured the buyer, spearheaded by MedCore Partners. American House Senior Living Communities assumed management of both properties. Anthology of Troy now operates as American House Somerset. The 93-unit community was built in 2017. Anthology of Rochester Hills now operates as American House Hampton Village. The 91-unit property was completed in 2018.
MISSOULA, MONT. — Benderson Development has purchased a freestanding retail building, located at 2527 N. Reserve St. in Missoula, located along the Clark Fork River near the Idaho border. Terms of the transaction were not released. Walgreens occupies the retail building. With this acquisition, Benderson expanded its national footprint to 40 states.
DALLAS — Marcus & Millichap has brokered the sale of a 274-room dual-branded hotel in downtown Dallas. The hotel component of the building, which was constructed in 1910 and houses 237 apartments and 20,000 square feet of commercial space, consists of 132 rooms under the TownePlace Suites brand and 142 rooms under the Fairfield Inn & Suites brand. Shared amenities include an outdoor pool, fitness center, business center, 1,050 square feet of meeting space and a convenience store. Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, Butler Brothers Hospitality Group LLC, which will continue to own and operate the apartments and commercial space, in the transaction. The duo also procured the buyer, a joint venture between Lowen Hospitality and Vashee & Associates.
KATY, TEXAS — Partners Real Estate has arranged the sale of a 32,900-square-foot industrial building in the western Houston suburb of Katy. According to LoopNet Inc., the single-tenant building at 7633 Cherokee St. was originally constructed in 1980. Hunter Stockard and Wyatt Huff of Partners represented the seller, an entity doing business as BC Real Estate Investments LLC, in the transaction. Jeff Peltier and Ben Condara of Colliers represented the undisclosed buyer.
ATLANTIC CITY, N.J. — New Jersey-based brokerage firm The Kislak Co. has negotiated the $20.5 million sale of a portfolio of three multifamily properties totaling 258 units in Atlantic City. The portfolio includes Atlantic Venice Park Apartments (112 units); Venice Park Condominiums (78 units operated as rentals); and Hamilton Venice Apartments (68 units). The properties were all built in 1970 and comprise 33 buildings that house 237 two-bedroom units and 21 one-bedroom units. Joni Sweetwood of Kislak represented the undisclosed seller, which disposed of the properties via three separate limited liability companies, in the transaction. Sweetwood also procured the undisclosed buyer.
CHICAGO — Interra Realty has brokered the sales of two multifamily properties in Chicago. The first transaction was an eight-unit building at 5130 S. Greenwood Ave. in the Hyde Park neighborhood that sold for $2.9 million. The second was a 17-unit property at 6251 N. Talman Ave. in the West Ridge neighborhood that sold for $2.2 million. Brad Feldman of Interra represented the Greenwood buyer, a local private investor, and the seller, Barnett Capital. Feldman also procured the buyer of the Talman property, a local private investor. Feldman and colleague Kevin Rahmanim represented the seller, a local family-owned limited liability company. Greenwood was built in 1911 and rehabbed in 2020. The building was fully occupied at the time of sale. Talman was built in 1955 and was fully occupied at the time of sale. The buyer plans to renovate all units and add a bedroom to select units.
INDIANAPOLIS — Marcus & Millichap has arranged the sale of Glenstone Apartments in Indianapolis for $2.2 million. The 44-unit multifamily property is located at 2215 E. 56th St. and features studio units that average 250 square feet. Built in 1965, the asset is located in the Canterbury-Chatard neighborhood. Jack Friskney, Austin Meeker and Aaron Kuroiwa of Marcus & Millichap represented the buyer and seller, both Indianapolis locals. The seller is existing after nearly a decade of ownership and is moving closer to retirement. The buyer plans to renovate the units over the next 12 to 24 months.
ALEXANDRIA, MINN. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Diamond Willow Assisted Living & Memory Care, a 20-unit community in Alexandria, about 130 miles northwest of Minneapolis. The sales price was undisclosed. Built in 2006, the 15,483-square-foot community sits on nearly three acres. A private equity firm divesting of a geographic outlier sold the asset to a nonprofit looking to expand in Minnesota. Jason Punzel, Vince Viverito, Brad Goodsell and Jake Anderson of SLIB brokered the transaction.
WASHINGTON, D.C. — A joint venture between Up Campus Student Living, Palmor Capital, BridgeInvest and Sabal Investment Holdings has purchased Boathouse, a 250-unit multifamily community located at 2601 Virginia Ave. NW in Washington, D.C.’s Foggy Bottom neighborhood. An undisclosed seller sold the property for $67.5 million. The new ownership is embarking on a redevelopment plan to convert and rebrand Boathouse to off-campus housing for students, faculty and staff for nearby George Washington University. Planned renovations to the 10-story property include updated amenities, common areas and fully furnishing all 250 units. The property, which features retail space and two levels of underground parking, was recently renovated by the previous ownership.
TAMPA, FLA. — CBRE has brokered the sale of NetPark Tampa Bay, a 947,176-square-foot, two-story office complex located on a 98.7-acre site at 5701 E. Hillsborough Ave. in Tampa. The property is the largest office asset in the Tampa Bay market and the sale marks the largest office property sold in the Southeast since 2022, according to CBRE. The office building formerly operated as East Lake Square Mall, a regional mall that opened in 1976 and closed in 1998. Dale Peterson, Joe Chick and Courtney Snell of CBRE represented the seller, Bluett Capital Realty Inc. and its tenants-in-common (TIC) ownership group, in the transaction. New Jersey-based Saxum Real Estate Partners purchased NetPark Tampa Bay, marking its first acquisition in Tampa. The sales price was not disclosed, but the Tampa Bay Times reports the property traded for $45 million.