DALLAS — A joint venture between locally based firm Anthem Development and Austin-based ATX Acquisitions has purchased Eleven600 Apartments, a 216-unit multifamily complex in the Lake Highlands area of Dallas. The property offers one- and two-bedroom units and amenities such as a pool, clubhouse, fitness center, playground, sports court and outdoor grilling and dining stations. The new ownership plans to implement a value-add program. The seller and sales price were not disclosed.
DULUTH, GA. — Newmark has brokered the $36.3 million sale of a four-building portfolio within Satellite Place in Duluth, a northeast suburb of Atlanta. Situated near I-85, the portfolio spans nearly 290,000 square feet and includes three industrial buildings at 2405, 2425 and 2450 Commerce Ave. and one single-story office building at 2400 Commerce Ave. Casey Keitchen and Collin BeVier of Newmark represented the sellers, two entities doing business as Satellite Place Property LLC and Satellite Commercial Property LLC, in the transaction. The buyer was an undisclosed industrial fund.
HOUSTON — Locally based brokerage firm Oxford Partners has arranged the sale of an approximately 10,000-square-foot industrial property in northwest Houston. According to LoopNet Inc., the building at 13470 FM 529 totals 5,643 square feet, and the building at 13486 FM 529 totals 4,321 square feet. Nathan Buckhoff and Matt Rogers of Oxford Partners represented the seller, Mbella Properties, in the transaction, and Clay Pritchett of Partners Real Estate represented the buyer.
KILLEEN, TEXAS — California-based brokerage firm Hanley Investment Group has negotiated the sale of a 4,900-square-foot retail building in the Central Texas city of Killeen. The building was constructed in 2023 was net leased to Brakes Plus at the time of sale. Garrett Wood of Hanley represented the buyer, a Florida-based 1031 exchange investor, in the transaction. Matt Montagne, Maxwell Watson and Tyler Ellinger of Sands Investment Group represented the seller, a Los Angeles-based private investor.
BEACON FALLS, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Beacon Mill Village, a 185-unit multifamily property in Beacon Falls, located just northwest of New Haven. Built in 1988, the property offers one- and two-bedroom units with an average size of 809 square feet. Amenities include a pool, fitness center, sauna, tennis court and a dog park. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller, Navarino Capital Management, in the transaction. The trio also procured the buyer, an entity doing business as Beacon Mill Holdings II LLC.
NORTH KINGSTOWN, R.I. — CBRE has brokered the sale of Mill Creek Townhomes, a 140-unit apartment complex located south of Providence in North Kingstown. Built in 1968 and expanded in 2006, the property offers two-, three- and four-bedroom units with an average size of 1,126 square feet on a 47-acre site. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, an affiliate of Massachusetts-based investment firm The Grossman Cos., in the transaction. The team also procured the buyer, Landings Real Estate Group, a private investment group based in Newport, R.I.
PHOENIX — Anish Hotels Group has completed the disposition of Home2 Suites by Hilton Phoenix Downtown to Chatham Lodging Trust for $43.3 million, or $293,000 per room. Chatham funded the purchase using proceeds from recent asset sales and available cash. Located at 125 E. Jackson St., the six-story hotel features 148 guest rooms and is connected to the historic Fuller Paint Company Building, which offers a customized reception area, guest lobby, 1,200 square feet of meeting space and a signature food and beverage outlet. Island Hospitality Management will manage the hotel. Carter Gradwell, Jennifer Bergamo and Rick Rush of CBRE represented the seller in the deal.
ALISO VIEJO, CALIF. — MicroVention, a neuroendovascular medical device company, has purchased 45 Enterprise, a nine-story office building in the Orange County city of Aliso Viejo. An undisclosed seller sold the asset for $42.2 million, or $183 per square foot. Built in 2007 and renovated in 2022, the 242,706-square-foot building was vacant at the time of sale. The property features open floorplates, an onsite cafeteria, conference and meeting rooms, premier building signage and a parking ratio of 4.6 spaces to every 1,000 rentable square feet. Carol Trapani and Allison Kelly of CBRE represented the buyer in the deal.
SOUTH OGDEN, UTAH — Los Angeles-based TruAmerica Multifamily has purchased The Falls at Canyon Rim, an apartment property in South Ogden, approximately 25 miles north of Salt Lake City. Terms of the transaction were not released. The Falls at Canyon Rim offers 288 one-, two- and three-bedroom apartments averaging nearly 1,200 square feet. Community amenities include a swimming pool, year-round hot tub, 24-hour fitness center, barbecue grills, two playgrounds, basketball courts, tennis courts, recreation rooms and a dog park. Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the deal.
CHICAGO — Interra Realty has brokered the sale of a three-building, 114-unit multifamily portfolio on Chicago’s South Side for $9.3 million. Two buildings, 7131 S. Bennett Ave. and 1949 E. 73rd Ave., are located in the South Shore neighborhood, while the third property, 6600 S. Ingleside Ave., is in the Woodlawn neighborhood. Lucas Fryman of Interra represented the buyer and seller, both based in Brooklyn, N.Y. The purchaser assumed the asset’s existing mortgage, which carries a 3.29 percent interest rate that matures at the end of 2032. Built in the early 1920s, the properties were 95 percent occupied at the time of sale. All three buildings have undergone capital improvements in recent years to include upgraded exteriors, building systems and unit interiors. The new ownership plans to continue the modernization with new appliances, fixtures and paint.
