Wednesday, June 4, 2025
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Acquisitions

MUSE-San-Diego-CA
AcquisitionsCaliforniaLife SciencesWestern

Diversified Healthcare Trust Sells 186,000 SF Life Sciences Campus in San Diego for $159M

by Amy Works

SAN DIEGO — Diversified Healthcare Trust, which is managed by The RMR Group, has completed the sale of MUSE, a three-building life sciences campus in San Diego, to Breakthrough Properties for $159 million. Substantially renovated between 2020 and 2022, the 186,000-square-foot asset consists of two fully leased wet lab buildings and one vacant office building. Overall, MUSE is 49 percent leased to Merck, Aegis Life, Organogenesis and Halloran. The renovation included the addition of a fitness center, full-service cafe and an indoor/outdoor conference center. MUSE is located at 3030, 3040 and 3050 Science Park Road in the Torrey Pines submarket of San Diego. JLL Capital Markets Investment Sales and Advisory team led by Kurt Luedkte and Zac Saloff represented the seller. JLL also arranged post-closing financing for the two buildings and will continue to handle leasing for the entire MUSE campus.

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AcquisitionsMultifamilyNew YorkNortheast

A&E Real Estate Buys Apartment Building on Manhattan’s Upper East Side for $116.5M

by Taylor Williams

NEW YORK CITY — A&E Real Estate has purchased Rivers Bend, a 22-story, 179-unit apartment building located at 501 E. 87th St. on Manhattan’s Upper East Side, for $116.5 million. The sales price equates to roughly $547,000 per unit. The doorman- and elevator-served building was originally constructed in 1963. Select units feature private balconies/patios, and amenities include a rooftop terrace with an enclosed pool and a fitness center. Jack Brick of S. Charatan Realty represented the seller, locally based investment firm Soloviev Group, in the transaction.

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Terraza-Hills-Apts-El-Cajon-CA
AcquisitionsCaliforniaMultifamilyWestern

Northmarq Brokers $45M Sale of 200-Unit Apartment Community in El Cajon, California

by Amy Works

EL CAJON, CALIF. — Northmarq has arranged the sale of Terraza Hills Apartments, a multifamily property in El Cajon. Terreza TI CI LLC sold the asset to Sunstone Two Tree Acquisitions LLC for $45 million. Located on East Bradley Avenue, Terraza Hills Apartments offers 200 one- and two-bedroom apartments, a swimming pool, laundry facilities, gated access, garage parking, on-call maintenance and onsite management. Tyler Sinks, Ed Rosen and John Chu of Northmarq’s San Diego Multifamily Investment Sales team represented the seller in the transaction.

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AcquisitionsCaliforniaIndustrialWestern

Faropoint Acquires Multi-Tenant Industrial Building in Torrance, California for $9.9M

by Amy Works

TORRANCE, CALIF. — Faropoint has entered the Los Angeles market with the purchase of a multi-tenant industrial property at 605-655 Hawaii Ave. in Torrance, a suburb 20 miles south of Los Angeles. The asset traded for $9.9 million. The name of the seller was not released. Built in 1963, the 36,491-square-foot facility is leased to four tenants. The property features tilt-up construction, a clear height of 18 feet and six double dock-high loading doors. Faropoint plans to implement a value-add strategy for the property, including targeted capital improvements and lease optimization.

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1690-W-Girard-Ave-Englewood-CO
AcquisitionsColoradoMultifamilyWestern

Kaufman Hagan Negotiates $2M Sale of Multifamily Property in Englewood, Colorado

by Amy Works

ENGLEWOOD, COLO. — Kaufman Hagan has negotiated the sale of a 16-unit multifamily building located at 1690 W. Girard Ave. in Englewood. The asset traded for $2 million, or $125,000 per unit. Andrew Vollert of Kaufman Hagan represented the undisclosed buyer and undisclosed seller in the deal.

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AcquisitionsLife SciencesMassachusettsNortheast

Newmark Brokers Sale of Life Sciences Building in Cambridge, Massachusetts

by Taylor Williams

CAMBRIDGE, MASS. — Newmark has brokered the sale of a life sciences building located at 359 Allston St. in Cambridge. According to LoopNet Inc., the building was constructed in 1987 and totals 7,517 square feet. The building was renovated in 2022 and was fully leased at the time of sale to Vaxess Technologies. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, William Sleeper, Joseph Alvarado and Casey Valente of Newmark represented the undisclosed seller in the transaction and procured the buyer, King Street Properties.

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AcquisitionsIndustrialMidwestWisconsin

Midloch, Fountain Acquire 131,558 SF Industrial Property in Madison, Wisconsin

by Kristin Harlow

MADISON, WIS. — Midloch Investment Partners and Fountain Real Estate Capital have acquired Tradesmen Industrial, a 131,558-square-foot industrial property in Madison. The purchase price was undisclosed. Midloch and Fountain are co-investors in the facility, which can accommodate warehouse, distribution and manufacturing uses. The asset is fully leased to three tenants. Completed in 2023, the property is located at 5525 Tradesmen Drive and features a clear height of 32 feet, 14 loading docks and direct access to I-39, I-90, Highway 12 and Highway 18. Fountain will handle leasing and management for the property. Judd Welliver of CBRE brokered the sale. Mike Vannelli of CBRE arranged a new mortgage loan through Magnifi Financial on behalf of the buyers.

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AcquisitionsMultifamilySeniors HousingTexas

Blueprint Arranges Sale of Vacant 106-Unit Seniors Housing Property in Waco

by Taylor Williams

WACO, TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of a vacant, 106-unit seniors housing property in Waco. Built in 2015, the community offered assisted living and skilled nursing care before closing in 2018. Amenities at the facility include an outdoor courtyard, patio and a putting green. Amy Sitzman and Giancarlo Riso of Blueprint represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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AcquisitionsKentuckyMultifamilySoutheast

Marcus & Millichap Negotiates $13.4M Sale of Hurstbourne Heights Apartments in Louisville

by John Nelson

LOUISVILLE, KY. — Marcus & Millichap has negotiated the $13.4 million sale of Hurstbourne Heights, an 84-unit apartment community located at 7603 Downs Farm Way in Louisville. Situated on 6.8 acres in the city’s Highview neighborhood, Hurstbourne Heights was delivered in 2019 and features one-, two- and three-bedroom apartments, as well as a dog park and walking trail. The buyer, a South Carolina-based investor, assumed a HUD-insured loan as part of the transaction. Aaron Johnson and David Badgett of Marcus & Millichap’s Louisville office represented the seller, a locally based developer, and procured the buyer in the transaction. Both parties requested anonymity.

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Park-Vista-Apts-Anaheim-CA
AcquisitionsCaliforniaLoansWestern

NewPoint Provides $82M Acquisition Loan for Affordable Housing Property in Anaheim, California

by Amy Works

ANAHEIM, CALIF. — NewPoint Real Estate Capital has provided an $82 million Fannie Mae loan to facilitate the acquisition of Park Vista Apartment Homes, a garden-style affordable housing community in Anaheim. Los Angeles-based BLDG Partners purchased the 392-unit property, which is 100 percent mission with all units being affordable at 60 percent of the area median income or lower. Martin Fayer of NewPoint originated the fixed-rate loan, which has a seven-year term with five years of interest-only payments. Originally constructed in 1959 and renovated in 2001, Park Vista consists of 93 two-story buildings spread across 20 acres in southeast Los Angeles. Community amenities include laundry facilities, a pool and barbecue grill, as well as picnic and playground areas.

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