Acquisitions

Clearwater-North-Tustin-CA

NORTH TUSTIN, CALIF. — Broadview Real Estate Partners has completed the sale of Clearwater at North Tustin, a seniors housing property in North Tustin, to Health Wave Partners for an undisclosed price. Aaron Rosenzweig and Dan Baker of JLL’s Seniors Housing Capital Markets team represented the seller and procured the buyer in the transaction. JLL’s Debt Advisory team arranged acquisition financing on behalf of the buyer through a large national bank. Built in 2001, Clearwater at North Tustin consists of two acuity-specific, single-story buildings offering assisted living and memory care. Onsite amenities include restaurant-style dining, an outdoor amphitheater, music garden, salon and spa, an art studio, a wellness center, dog park and four distinct resident courtyards. The community is situated on 6.6 acres at 11901 Newport Ave.

FacebookTwitterLinkedinEmail

PALATINE, ILL. — ARTISAN Capital Group (ACG) has acquired Arrowhead Apartments, a 200-unit, garden-style apartment community in Palatine, a northwest suburb of Chicago. ACG partnered with Eastham Capital on the transaction, marking the firms’ fifth acquisition together. The investment marks ACG’s second acquisition in the Chicago market. Arrowhead Apartments consists of nine two- and three-story buildings with 102 one-bedroom units, 78 two-bedroom units and 20 three-bedroom residences. Amenities include a clubhouse, fitness center and dog park. ACG plans to increase value through operational efficiencies and professional investment oversight. ARTISAN Management Group, ACG’s management vertical, will oversee operations. ACG secured financing through HUD. Scott Harris of Marcus & Millichap represented the seller, a joint venture with Hispanic Housing Development Corp. as the managing partner, and procured the buyer. Forty of the units have a Housing Assistance Payments contract that runs through 2039, according to Harris.

FacebookTwitterLinkedinEmail

BRUNSWICK, OHIO — Commonwealth Capital LLC has acquired a net leased industrial facility in Brunswick, about 20 miles southwest of Cleveland. A subsidiary of a confidential, publicly traded company occupies the property. Located at 940 Industrial Parkway North, the build-to-suit facility was constructed in 2024 to serve as an integrated operational hub that combines showroom, office and warehouse space. The tenant provides products and installation to residential and commercial builders as well as the general public in northeast Ohio and western Pennsylvania.

FacebookTwitterLinkedinEmail

ENNIS, TEXAS — Marcus & Millichap has brokered the sale of The Willows, an 84-unit apartment building in Ennis, about 40 miles south of Dallas. The Willows was built on a 3.8-acre site in 1985 and offers studio, one- and two-bedroom units. Matt Aslan and Bard Hoover of Marcus & Millichap represented the seller in the transaction. The duo also collaborated with Marcus & Millichap’s Nick Fluellen to procure the buyer. Both parties requested anonymity.

FacebookTwitterLinkedinEmail
Botanica-Cottages-Limerick-Pennsylvania

LIMERICK, PA. — Pennsylvania-based private equity firm PPR Capital Management has purchased Botanica Cottages, a 199-unit apartment complex in Limerick, a northwestern suburb of Philadelphia. Built in 1999, Botanica Cottages offers one-, two- and three-bedroom units that are equipped with private entrances and attached garages. Amenities include a pool, spa, clubhouse and a fitness center. PPR acquired the property in partnership with Bel Canto Asset Growth Fund. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program.

FacebookTwitterLinkedinEmail
110-High-Ridge-Road-Stamford

STAMFORD, CONN. — CBRE has negotiated the sale of a 153,416-square-foot shopping center in Stamford, located in southern coastal Connecticut. Whole Foods Market and Saks OFF Fifth anchor the center at 110 High Ridge Road, which is a redevelopment of a former Lord & Taylor department store into a multi-tenant center. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, HBS Global Properties, in the transaction. The trio also procured the buyer, an entity doing business as 110 High Ridge Road LLC.

FacebookTwitterLinkedinEmail

PENNSYLVANIA — Marcus & Millchap has brokered the sale of a portfolio of 10 Dollar General stores in Pennsylvania. The addresses were not disclosed, but the stores are all new construction and are operated under 15-year, triple-net leases. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group of Marcus & Millichap brokered the deal. The seller was a developer, and the buyer was an institutional investment firm. Both parties requested anonymity.

FacebookTwitterLinkedinEmail
Carillon-Belleview-Denver-CO

DENVER — MGL Partners has completed the sale of Carillon at Belleview Station, a seniors housing community in Denver. An institutional buyer acquired the property for $96 million as part of a multi-asset seniors housing portfolio. Located at 4855 S. Niagara St., Carillon at Belleview Station features 156 independent living, assisted living and memory care residences. Community amenities include a commercial kitchen and restaurant-style dining, a bistro, spa and wellness spaces and common areas designed to support comfort, connection and aging in place. The buyer purchased Carillon at Belleview Station alongside four other seniors housing properties across the country as part of a single portfolio transaction.

FacebookTwitterLinkedinEmail
Misora-Apts-San-Jose-CA

SAN JOSE, CALIF. — Chicago-based Waterton has acquired Misora, a mid-rise multifamily property at 388 Santana Row in San Jose. Terms of the transaction were not disclosed. Built in 2013, Misora offers 212 studio, one-, two- and three-bedroom units, with half of the layouts featuring a loft configuration or a den and select units including a private balcony. Waterton plans to upgrade residences to a modern finish level, including vinyl plank flooring, new lighting and plumbing fixtures, quartz countertops, new backsplashes and a new technology package. Stainless steel appliance packages and cabinets will be added as needed. Community amenities include a lap pool and spa, rooftop sundeck with barbecue and dining areas, a coworking lounge and conference center, a fitness studio, demonstration kitchen for community use and private underground parking. Waterton plans to update furniture and fixtures in the amenity spaces, add new flooring and equipment in the fitness center and reconfigure underutilized spaces.

FacebookTwitterLinkedinEmail
Thirty-03-Phoenix-AZ

PHOENIX — Newmark has brokered the sale of Thirty 03, a Class A office building located at 3003 N. Central Ave. in Phoenix. A Canada-based private buyer acquired the 26-story tower from Vancouver, Canada-based Balfour Pacific for $32.2 million. Barry Gabel, Chris Marchildon and CJ Osbrink of Newmark represented the seller in the deal. Offering 458,047 square feet of office space, Thirty 03 has undergone nearly $11 million in transformative capital improvements. Implemented in 2019, the plan included extensive lobby upgrades, full elevator modernization and speculative suites. At the time of sale, the building was 81 percent leased to a diverse mix of tenants spanning legal, healthcare, architectural, banking, government and professional services sectors.

FacebookTwitterLinkedinEmail