POOLER, GA. — Cohen & Steers Income Opportunities REIT (CNSREIT) has acquired Village on Pooler Parkway, a 142,000-square-foot shopping center located in Pooler, roughly 15 miles outside Savannah. CNSREIT purchased the center through a joint venture with Sterling Organization. Built in 2014, the property was fully leased at the time of sale. Tenants at the center include T.J. Maxx, Ross Dress for Less, Michaels, PetSmart, Panera Bread, Buffalo Wild Wings and Jersey Mike’s.
HENDERSON, KY. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a four-property portfolio in Henderson, located in western Kentucky along the Ohio River and approximately 11 miles south of Evansville, Ind. Known as the Colonial Portfolio, the properties in the transaction included Colonial Assisted Living (69 units), Colonial Court Independent Living (22 units), Colonial Senior Living (51 assisted living units) and Colonial Cottages (16 independent living units). The seller was a local owner that developed and operated the assets since their inception. The buyer was a Kentucky-based owner and operator looking to grow its portfolio strategically in western Kentucky. Ryan Saul and Daniel Geraghty led the transaction for SLIB.
ANN ARBOR, MICH. — IPA Capital Markets, a division of Marcus & Millichap, has arranged a $17 million loan for the acquisition of a 62-unit student housing property adjacent to the University of Michigan’s main campus in Ann Arbor. Max Hulsh, Max Herzog, Marko Kazanjian and Andrew Cohen of IPA arranged the loan through A10 Capital on behalf of the borrower, Havenly Ventures, a New York City-based real estate investment firm that specializes in value-add acquisitions primarily in the student housing sector. The buyer plans to densify the property’s oversized two-bedroom units into four-bedroom units. The asset has maintained full occupancy for over 25 years.
ITASCA, ILL. — Lee & Associates of Illinois has brokered the $6.2 million sale of a 59,778-square-foot industrial building in Itasca. The property is located at 700 District Drive. Jeffrey Janda of Lee & Associates represented the seller, Levi Holdings. The buyer, Venture One Real Estate, purchased the building pre-leased to Premistar, an HVAC contractor. Cal Payne of CBRE represented Premistar, and Michael Clewlow represented Venture One on an internal basis.
BERKELEY, CALIF. — Barings has divested of Varsity Berkeley, a purpose-built student housing property in Berkeley. Hawkins Way Capital acquired the asset for an undisclosed price. Within walking distance of the University of California, Berkeley campus, Varsity Berkeley offers 79 units totaling 263 beds in a mix of furnished and unfurnished studio, two- and three-bedroom floor plans with fully equipped kitchens and bathrooms that include washers and dryers. Community amenities include a rooftop terrace and sun deck, a recently renovated resident lounge, ground-floor courtyard with firepit and electric car charge. Peter Katz and Salvatore Saglimbeni of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Tony Solomon served as Marcus & Millichap’s broker of record in California.
BELLEVUE, WASH. — Seattle-based Security Properties has completed the sale of Sylva on Main, a midrise apartment community in Bellevue, to Rise Properties Trust for $30 million, or $405,405 per unit. Built in 2011, Sylva on Main offers 74 apartments and two retail suites. The property is located at 10701 Main St. Ben Johnson, David Sorensen, Kenny Dudunakis, George Pallis and Peter Dudunakis of Berkadia’s Seattle office represented the seller in the deal.
KEIZER, ORE. — Rolling Hills Estate, Calif.-based Cumberland Holdings LLC has completed the disposition of Keizer Village Shopping Center, a neighborhood shopping center in Keizer. A Eugene, Ore.-based private investor acquired the asset for $13 million. Located at 3830-3860 River Road N, Keizer Village Shopping Center offers 76,785 square feet of retail space. At the time of sale, the property was 99 percent occupied. Current tenants include Physiq Fitness, The Thrift Store, Little Caesars Pizza, Metro by T-Mobile, Subway and US Market. Kevin Fryman of Hanley Investment Group, in association with ParaSell Inc., represented the seller, while James Kim of Windermere Real Estate/Lane County represented the buyer in the transaction.
PHOENIX — Arizona-based MJA Investments has purchased Gateway Executive Center, a multi-tenant office building in Phoenix, from a Hawaii-based private investor for $9 million. Located at 1048 N. 44th St., the two-story, 39,912-square-foot building features a rooftop deck including a bar, grilling station and views of Camelback Mountain. Eric Wichterman, Mike Coover and Chris Toci of Cushman & Wakefield’s Private Capital Markets in Phoenix represented the seller in the transaction.
BAYTOWN, TEXAS, BRASELTON, GA., AND MIAMI — Northwood Investors has acquired a $160 million industrial portfolio located in Georgia, Florida and Texas. Totaling 1.8 million square feet, the “Sunbelt Logistics Distribution Portfolio” was fully leased at the time of sale. The portfolio comprises three industrial buildings: Home Depot Cedar Port Distribution Center in Baytown, Texas; Havertys Distribution Center in Braselton, Ga.; and 10000 N.W. 15th Terrace in Miami. Britton Burdette, Trent Agnew and Luis Castillo of JLL represented the undisclosed seller in the sale. Bobby Norwood of JLL secured acquisition financing through affiliates of Apollo on behalf of Northwood Investors.
PORTLAND, TENN. — JLL Capital Markets has brokered the sale of Portland Shoals Manufacturing Facility, a 638,330-square-foot industrial development located at 1500 Shoals Way in Portland, roughly 40 miles northeast of Nashville. Al. Neyer, which developed the property, was the seller. EQT Exeter Real Estate Income Trust (EQRT) acquired the development for an undisclosed price. Shoals Technologies Group fully occupies the property, which features 40-foot clear heights, 107 dock positions, four drive-in doors, 185-foot truck court depths and auto and trailer parking. JLL represented Al. Neyer in the transaction.