Acquisitions

Viking Capital Acquires 252-Unit Villas at Sundance Apartments in New Braunfels, Texas

by Taylor Williams June 20, 2024

NEW BRAUNFELS, TEXAS — Viking Capital, an investment firm based in Northern Virginia, has acquired Villas at Sundance, a 252-unit apartment community located northeast of San Antonio in New Braunfels. Built in 2012, Villas at Sundance features one- and two-bedroom units with an average size of 931 square feet. Amenities include a pool, fitness center, business center, grilling stations, a lounge and a pet play area. Affiliates of Maryland-based Railfield Partners sold the property for an undisclosed price. Will Balthrope and Drew Garza of Institutional Property Advisors, along with Ben Kalter of parent company Marcus & Millichap, brokered the deal.

June 20, 2024

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 76-Unit Lakeside Village Apartments in Wylie, Texas

by Taylor Williams June 20, 2024

WYLIE, TEXAS — Marcus & Millichap has brokered the sale of Lakeside Village, a 76-unit apartment complex in Wylie, a northeastern suburb of Dallas. The property was built on 2.1 acres in 1981 and offers one- and two-bedroom units. Nick Fluellen, Bard Hoover and Chris Pearson of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies, in the transaction.

June 20, 2024

Acquisitions Multifamily Seniors Housing Texas

Blueprint Arranges Sale of 52-Unit Seniors Housing Property in Oklahoma City

by Taylor Williams June 20, 2024

OKLAHOMA CITY — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 52-unit seniors housing property in Oklahoma City. The unnamed property, which opened in 2000 and was 99 percent occupied at the time of sale, offers assisted living and memory care services. The seller was a national developer and investor, and the buyer was a regional owner-operator. Both parties requested anonymity. Giancarlo Riso, Amy Sitzman and Alex Florea of Blueprint brokered the deal.

June 20, 2024

Acquisitions Industrial Northeast Pennsylvania

MAG Capital Partners Buys Two Western Pennsylvania Manufacturing Facilities via Sale-Leaseback

by Taylor Williams June 20, 2024

SHARON, PA. — MAG Capital Partners has purchased two manufacturing facilities totaling 62,063 square feet in Sharon, located on the Ohio-Pennsylvania border. The company acquired the adjacent properties via a sale-leaseback with HuFriedy Group, a manufacturer of dental supplies and equipment. J.C. Asensio, Andrew Sandquist and Briggs Goldberg of Newmark represented the seller in the transaction. The sales price was not disclosed.

June 20, 2024

Acquisitions Illinois Midwest Retail

Mid-America Brokers Sale of 108,412 SF Iroquois Center in Naperville, Illinois

by Kristin Harlow June 20, 2024

NAPERVILLE, ILL. — Mid-America Real Estate Corp. has brokered the sale of Iroquois Center, a 108,412-square-foot retail center in the Chicago suburb of Naperville. Northpond Partners purchased the asset for an undisclosed price. Some of the tenants at the value-add property include Planet Fitness, Duly Health and Care, Illiana Financial Credit Union and Cookies by Design. Joe Girardi, Rick Drogosz and Bine Wineman of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. Pine Tree managed the property.

June 20, 2024

Acquisitions Affordable Housing Midwest Minnesota Multifamily Seniors Housing

JLL Arranges Sale of 96-Unit Affordable Seniors Housing Community in Stillwater, Minnesota

by Kristin Harlow June 20, 2024

STILLWATER, MINN. — JLL Capital Markets has arranged the sale and financing of Rivertown Commons, a 96-unit Section 8 affordable seniors housing community situated along the St. Croix River in Stillwater. The seven-story building totals 55,800 square feet. Amenities include a game room, library and private garden patio. Josh Talberg and Doug Childers of JLL represented the seller, Dominium Management, and procured the buyer, Standard Communities. The buyer plans to refresh the units and common areas in addition to extending the existing affordability restrictions. C.W. Early, Ken Dayton and Pat McMullen of JLL arranged acquisition financing through Freddie Mac.

June 20, 2024

Acquisitions Office Southeast Virginia

Marcus & Millichap Brokers Sale of 180,000 SF Fair Oaks Plaza Office Building in Fairfax, Virginia

by Hayden Spiess June 20, 2024

FAIRFAX, VA. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the sale of Fair Oaks Plaza, a 180,000-square-foot office building located in the Northern Virginia city of Fairfax. A private investor acquired the property, which was 90 percent leased at the time of sale, for an undisclosed price. The building was renovated in 2022. Robert Filley, Chandler Pace and Stacey Milam of Marcus & Millichap represented the seller, Novel Office, in the transaction.

June 20, 2024

Acquisitions Georgia Retail Southeast

Big V Property Group Acquires 303,297 SF Johns Creek Town Center Retail Asset in Metro Atlanta

by Hayden Spiess June 20, 2024

JOHNS CREEK, GA. — Big V Property Group has acquired Johns Creek Town Center, a 303,297-square-foot retail center located at 3630 Peachtree Parkway in Johns Creek, roughly 30 miles northeast of Atlanta. Sprouts Farmers Market anchors the property, which was built in 2001 and almost fully leased at the time of sale. Other tenants at the center include HomeGoods, Michaels, Market by Macy’s, Kohl’s, PetSmart and Ulta Beauty. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the undisclosed seller in the transaction.

June 20, 2024

Chandler-Airport-Business-Park-Chandler-AZ

Acquisitions Arizona Industrial Loans Western

Cushman & Wakefield Arranges $64.1M in Acquisition Financing for Industrial Portfolio Near Phoenix

by Amy Works June 20, 2024

CHANDLER AND MESA, ARIZ. — Cushman & Wakefield has advised Newport Beach, Calif.-based CapRock Partners in securing $64.1 million in financings for the acquisition of a Class A industrial portfolio comprising two newly built, multi-building business parks totaling 562,969 square feet in metro Phoenix. The assets include the four-building, 318,683-square-foot Chandler Airport Business Park in Chandler and the two-building, 244,286-square-foot Longbow Industrial Center in Mesa. Funds and accounts managed by BlackRock’s U.S. real estate debt team provided a $38.5 million floating-rate bridge loan for Chandler Airport Business Park in March. California Bank & Trust provided an approximately $25.6 million floating-rate bridge loan for Longbow Industrial Center in May. Situated on 20 acres, Chandler Airport Business Park features 28-foot to 30-foot clear heights and 428 auto parking stalls, while Longbow Industrial Center features 30-foot clear heights and 320 auto parking stalls on 14 acres. Both industrial parks offer ample speculative office space, ESFR sprinklers, numerous loading positions, large secured concrete truck courts, full warehouse HVAC and LED lighting. Rob Rubano, Brian Share, Max Schafer, Lars Weston and Billy Coyle of Cushman & Wakefield Equity, Debt & Structured Finance represented the borrower in both financing transactions. Will Strong, Molly Hunt and Michael Matchett …

June 20, 2024

Acquisitions Industrial Nevada Western

Colliers Brokers Sale of 93,550 SF Desert Canyon Industrial Park in Henderson, Nevada

by Amy Works June 20, 2024

HENDERSON, NEV. — Colliers has arranged the sale of Desert Canyon Industrial Park, a five-building, small-bay industrial complex in Henderson. Nicola Wealth Commercial Real Estate sold the asset to an undisclosed buyer for $16.9 million. Built in 2001, the five-building complex offers 93,550 square feet of industrial space. The property is situated on 4.7 acres at 249-257 Elliott Road. Brian Riffel and Tyler Jones at Colliers represented the seller in the deal.

June 20, 2024

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