Acquisitions

Vaughan-Village-Apartments_Elizabethtown-Ky

ELIZABETHTOWN, KY. — Matthews Real Estate Investment Services has brokered the $4.9 million sale of Vaughan Village Apartments, a multifamily community located at 100 Crimson Creek Drive in Elizabethtown, approximately 45 miles south of Louisville. Built in 1996, the property comprises 48 duplex-style units situated on nine acres. Ellie Funk, Austin Tomaiko and Austin Graham of Matthews represented the undisclosed seller in the transaction. The undisclosed buyer assumed an existing HUD loan as part of the acquisition. 

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CLUTE, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Affordable Storage, a 440-unit facility in Clute, about 60 miles south of Houston. The facility spans 46,785 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, New Hampshire-based Fab Legacy LLC, in the transaction. The team also procured the buyer, Miami-based LAGO Properties LLC. The sales price was not disclosed.

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Barker-Cypress-Distribution-Center-Houston

CYPRESS, TEXAS — Colliers has brokered the sale of Barker Cypress Distribution Center, a 142,100-square-foot industrial building located on the northwestern outskirts of Houston. The building sits on 12 acres and features 32-foot clear heights, 3,574 square feet of office space and parking for 124 cars and 25 trailers. At the time of sale, Barker Cypress Distribution Center was fully leased to building materials supplier 84 Lumber. Lizzy Blake led the Colliers team that represented the seller, Molto Properties, in the transaction and procured a California-based limited liability company as the buyer.

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MOUNT LAUREL, N.J. — Colony Hills Capital has acquired Mount Laurel Crossing, a 296-unit apartment community in Southern New Jersey, for $79 million. The 14-building property was originally constructed in 1999 and offers one-, two- and three-bedroom units with an average size of 944 square feet. Amenities include a pool, fitness center, clubhouse, dog park and an outdoor lounge. Mount Laurel Crossing was 98 percent occupied at the time of sale. John Alascio, Alex Hernandez, Aaron Graves and John Spreitzer of Cushman & Wakefield arranged equity investments with Heitman (preferred) and Balfour Beatty Communities (common) on behalf of Colony Hills Capital. Fran Coyne, Carl Fiebig, Jose Cruz, Mike Oliver, Samantha Kupersmith and Tyler Margraf of JLL represented the undisclosed seller in the transaction.

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Tralee-Village-Apts-Dublin-CA

DUBLIN, CALIF. — Cityview has acquired Tralee Village Apartments, a multifamily property located at 6599 Dublin Blvd. in the East Bay city of Dublin. The price and seller were not disclosed. The three-story property offers 130 apartments and more than 30,000 square feet of ground-floor retail space, including eateries and service-focused shops. Originally built in 2011, the community offers one-, two- and three-bedroom floorplans featuring open-concept layouts, in-unit washers/dryers, granite countertops, USB outlet ports, modern custom-wood cabinetry in two styles, central heat and air, large closets, nine-foot ceiling heights and stainless steel appliances. Select units also feature vaulted ceilings, floor-to-ceiling windows and large balconies. Community amenities include ground-floor retail space, a resort-style pool and spa, high-end fitness center, clubhouse, business center, courtyard and barbecue areas, playground, parcel lockers, bike storage and ample garage parking. Cityview plans to implement a comprehensive renovation program for the community, including new unit flooring, lighting, kitchen and bathroom countertops and accessories. Jason Parr of Berkadia brokered the transaction. Westhome, an affiliate of Cityview, will serve as the property manager.

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HENDERSON, NEV. — Colliers has negotiated the purchase of The Henderson Gateway Industrial Facility in Henderson, a suburb southeast of Las Vegas. An undisclosed buyer acquired the asset for $27.8 million. The name of the seller was not released. Brian Riffel and Tyler Jones of Colliers represented the buyer in the transaction. Located at 1735 Chaparral Road, the 98,023-square-foot property features 11 dock loading doors, two grade-access doors, an ESFR fire suppression system with a diesel pump, 91 surface parking spaces and 2,530 square feet of HVAC office space.

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609-S-Pueblo-Blvd-Pueblo-CO

PUEBLO, COLO. — Trevey Commercial Real Estate has negotiated the purchase of a freestanding retail building located at 609 S. Pueblo Blvd. in Pueblo, approximately midway between Denver and the New Mexico border. Mr Blue Sky LLC acquired asset from 609 Property LLC for $1.2 million. Dollar General occupies the 9,100-square-foot property. David Marulli and Mitch Trevey of Trevey Commercial Real Estate represented the buyer, while Ben Farthing and Logan Grant of CBRE represented the seller in the deal.

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AMES, IOWA— A joint venture between ARTISAN Capital Group and EOS Residential Investors has acquired Union on Lincoln Way, a 537-bed student housing community located near the Iowa State University campus in Ames. Built in 2018, the property offers 177 fully furnished units in studio through five-bedroom configurations. Shared amenities include a swimming pool, fitness center, business center and study rooms. The development also features 11,000 square feet of retail space. Haverkamp Properties has been tapped to manage the community, which will be rebranded 2700 Lincoln. Improvements to the property’s amenity and common spaces are planned by the new ownership. Peter Katz of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Greystar. The acquisition involved Freddie Mac financing.

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BLOOMINGTON, MINN. — Transwestern Real Estate Services has arranged the sale of a 13,095-square-foot industrial building in Bloomington for an undisclosed price. Russ Crawford of Transwestern represented the buyer, Pickle O LLC, which plans to occupy the building with the option to divide space for additional tenants. Brian Netz and Lucas Long of Newmark represented the seller, Common Ground Properties LLC. Numerous property improvements were completed prior to the sale, including LED lighting upgrades, new office finishes and ADA-compliant restrooms.

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MILWAUKEE — Marcus & Millichap has brokered the $1.4 million sale of a Taco John’s-occupied restaurant property in Milwaukee. The net-leased building, constructed in 2023, is located at 4650 S. 5th St. adjacent to the Milwaukee International Airport. Carson Breshears and Hank Wolfer of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies. Todd Lindblom assisted in closing the transaction as the broker of record in Wisconsin.

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