Acquisitions

OneLife Senior Living Acquires 70-Unit Property in Suburban Chicago

by Kristin Harlow November 29, 2023

VERNON HILLS, ILL. — OneLife Senior Living has acquired the former Springs of Vernon Hills Alzheimer’s Special Care Center in the Chicago suburb of Vernon Hills. The firm has since rebranded the 70-unit property as The Laurel at Vernon Hills. OneLife retained all 59 staff members, and reviewed and updated benefits, wages and best practices for staffing. OneLife reduced temporary agency staff and increased permanent team members. The Laurel at Vernon Hills provides memory care services for people with Alzheimer’s and other forms of dementia. The community features large hallways, a circular design, fully enclosed courtyards and enhanced security. The seller and sales price were not provided.

November 29, 2023

Acquisitions Illinois Midwest Multifamily

Interra Realty Brokers $8.1M Sale of Chicago Apartment Building

by Kristin Harlow November 29, 2023

CHICAGO — Interra Realty has brokered the sale of a 69-unit apartment building in Chicago’s Rogers Park neighborhood for $8.1 million. Located at 7219 N. Sheridan Road, the property features three studios, 37 one-bedroom units, 21 two-bedroom units and eight ground-floor retail spaces. Kevin Rahmanim of Interra represented the buyer, a local private investor. The sale marks the first time the building, which was constructed in 1931, has transacted in over 50 years. The local private seller was self-represented.

November 29, 2023

Acquisitions Kentucky Retail Southeast

Legacy Realty Brokers Sale of 31,800 SF Retail Center in Scottsville, Kentucky

by John Nelson November 28, 2023

SCOTTSVILLE, KY. — Legacy Realty Group Advisors has brokered the sale of Scottsville Shopping Center, a 31,800-square-foot retail center located at 1224 Gallatin Road in Scottsville, a city in southern Kentucky near the Tennessee border. The center sold for $3 million in the off-market transaction. Food Lion anchors the property. Jacob Baruch and Jonah Warshaw of Legacy Realty represented both the buyer and seller in the transaction, both of which requested anonymity.

November 28, 2023

Acquisitions Multifamily New York Northeast

JLL Arranges $10.2M Sale of Manhattan Apartment Building

by Taylor Williams November 28, 2023

NEW YORK CITY — JLL has arranged the $10.2 million sale of a 62-unit apartment building located at 788 Riverside Drive in the Washington Heights area of Manhattan. The 11-story building primarily houses two- and three-bedroom units that have an average size of 1,025 square feet. Of the 62 apartments, 53 of which are rent-stabilized, five are rent-controlled and four are rented at market rates. The buyer and seller were both family offices that requested anonymity. Paul Smadbeck and Hall Oster of JLL brokered the deal.

November 28, 2023

Acquisitions California Industrial Western

Harbor Associates, Evergen Equity Buy $55M Industrial Portfolio in Gardena, California

by Amy Works November 28, 2023

GARDENA, CALIF. — A joint venture between Harbor Associates and Evergen Equity has purchased an industrial portfolio in Gardena from a local investor for $55 million in an off-market transaction. Gardena is in the South Bay area of greater Los Angeles. Located at 690-760 W. 190th St., the portfolio consists of four adjacent buildings ranging in size from 17,000 square feet to 45,000 square feet. The 7.5-acre site is located within the 34 million-square-foot Gardena/Harbor industrial submarket and is immediately next to the I-405/I-110 interchange. Eric Cox, Barbara Perrier and Darla Longo of CBRE represented the seller in the deal.

November 28, 2023

Acquisitions Midwest Multifamily Wisconsin

Marcus & Millichap Arranges Sale of 158-Unit Multifamily Portfolio in Wisconsin

by Kristin Harlow November 28, 2023

MANITOWOC, MCFARLAND AND MADISON, WIS. — Marcus & Millichap has arranged the sale of a 158-unit multifamily portfolio in Wisconsin for an undisclosed price. The properties include Benley Manor, Central Park West, Woodland Commons and The Trafalgar Apartments. Benley Manorf and Central Park West, located in Manitowoc, were built between 1996 and 1998 and offer townhome-style units. Woodland Commons in McFarland was built between 2005 and 2006 and offers amenities such as a pool, spa, community room and fitness center. The Trafalgar Apartments in Madison was built in 2005 and features in-unit washers and dryers along with private balconies. Matthew Whiteside of Marcus & Millichap represented the seller, a private investor, and the buyer, a private investor.

November 28, 2023

Acquisitions Nevada Retail Western

CTO Sells Eastern Commons Shopping Center in Henderson, Nevada for $18.2M

by Amy Works November 28, 2023

HENDERSON, NEV. — CTO Realty Growth has sold Eastern Commons, a 129,600-square-foot shopping center located in Henderson, roughly 15 miles southeast of Las Vegas. An undisclosed buyer acquired the property for $18.2 million. The seller plans to utilize proceeds from the sale for a 1031-exchange transaction.

November 28, 2023

Acquisitions Multifamily Nevada Western

Kidder Mathews Negotiates $14.5M Sale of Quail Meadows Apartments in Reno, Nevada

by Amy Works November 28, 2023

RENO, NEV. — Kidder Mathews has arranged the sale of Quail Meadows, a multifamily property located at 5599 Quail Manor Court in Reno. A San Jose, Calif.-based private real estate investment firm acquired the asset from a QM56 LLC for $14.5 million. Gerrit Hillebrand and Ben Nelson of Kidder Mathews represented the seller, while Jim Henderson of Kidder Mathews arranged financing for the buyer in the transaction. Situated on 5.4 acres, the 53,140-square-foot property features 56 units spread across 10 residential buildings. The unit mix consists of 17 one-bedroom/one-bath units, 34 two-bedroom/two-bath units and five three-bedroom/two-bath units. At the time of sale, Quail Meadows was 98 percent occupied.

November 28, 2023

Acquisitions Florida Retail Southeast

Benderson Acquires 85,000 SF Shopping Center in Delray Beach, Florida

by John Nelson November 27, 2023

DELRAY BEACH, FLA. — Sarasota, Fla.-based Benderson Development has acquired Linton Commons, an 85,000-square-foot shopping center located in Delray Beach, a city in South Florida’s Palm Beach County. Tenants at the property include RH Outlet, Guitar Center, PetSmart, Chipotle Mexican Grill and AT&T. Matt Berres, Samer Khalil and Karick Brown of Newmark represented the undisclosed, privately held seller in the transaction. The Newmark team also procured Benderson as the buyer in cooperation with Newmark’s Bert Sanders. The sales price was not disclosed. Benderson’s portfolio in the state also includes a freestanding Publix in Pompano Beach, which was acquired in August, and a Publix-anchored shopping center in Englewood.

November 27, 2023

Acquisitions District of Columbia Multifamily Southeast

Marcus & Millichap Brokers Sale of 26-Unit Apartment Building in D.C.

by John Nelson November 27, 2023

WASHINGTON, D.C. — Marcus & Millichap has brokered the sale of a 26-unit apartment building located at 2724 11th St. NW in the Columbia Heights neighborhood of Washington, D.C. The transaction follows a decade of legal disputes and a Chapter 11 bankruptcy filing by the seller. Nick Murray, Marty Zupancic and John Slowinski of Marcus & Millichap arranged the sale. The undisclosed buyer plans to implement a redevelopment at the property. The sales price was not disclosed.

November 27, 2023

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