Acquisitions

Kidder Mathews Arranges $18.8M Sale of Dexter Hayes Apartment Building in Seattle

by Amy Works July 11, 2024

SEATTLE — Kidder Mathews has arranged the sale of Dexter Hayes, a multifamily property at 1701 Dexter Ave. N. in Seattle’s Westlake neighborhood. The asset traded for $18.8 million, or $290,000 per unit. Opened in 2016, Dexter Hayes offers 65 apartments with high-end finishes, spacious floor plans and large windows. Community amenities include a clubhouse, rooftop deck and an open-air central courtyard. Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of the Simon and Anderson team at Kidder Mathews’ Seattle headquarters represented the undisclosed seller and buyer in the deal.

July 11, 2024

Acquisitions California Industrial Western

NAI Capital Commercial Negotiates $5M Sale of Manufacturing Facility in Placentia, California

by Amy Works July 11, 2024

PLACENTIA, CALIF. — NAI Capital Commercial has arranged the sale of 1049 S. Melrose St., Unit C, a multi-tenant manufacturing building in the Orange County city of Placentia. A trust sold the asset to an undisclosed buyer for $5 million, or $248 per square foot. Situated within a 11-building, master-planned industrial park totaling 158,580 square feet, the 20,150-square-foot building is fully leased with one month-to-month tenant occupying 4,850 square feet; two leases expiring on Dec. 31 covering 11,300 square feet; and one lease expiring July 31, 2024, covering 4,000 square feet. Marie Taylor of NAI Capital Commercial represented the seller in the deal.

July 11, 2024

Acquisitions Midwest Missouri Multifamily

CBRE Brokers Sale of 316-Unit Apartment Complex in Suburban St. Louis

by Kristin Harlow July 11, 2024

O’FALLON, MO. — CBRE has brokered the sale of Avenue64, a 316-unit apartment complex in the St. Louis suburb of O’Fallon. The sales price was undisclosed. Built in 2022, the Class A property features a range of floor plans averaging 993 square feet. Amenities include a pool, hot tub, courtyard, coffee bar, fitness center, conference room, community grilling areas and outdoor game area. Hannah Ott, George Tikijian, Matt Bukhshtaber, Cam Benz, Claire Bullard and Ryan Stockamp of CBRE represented the seller, Thompson Thrift. Oregon-based Bonaventure was the buyer.

July 11, 2024

Acquisitions California Industrial Western

Voit Brokers Sale of 3,034 SF Industrial Building in Costa Mesa, California

by Amy Works July 11, 2024

COSTA MESA, CALIF. — Voit Real Estate Services has arranged the sale of an industrial building at 123 Monte Vista Ave. in the Orange County city of Costa Mesa. An exotic car dealer sold the asset to a private individual for $3.2 million, or $1,054 per square foot. The buyer plans to use the 3,034-square-foot building for personal use. Stefan Rogers of Voit Real Estate Services’ Irvine office represented the seller, while Matt Fryer of Lee & Associates represented the buyer in the transaction.

July 11, 2024

Acquisitions Michigan Midwest Multifamily Seniors Housing

JLL Arranges Sale of 184-Unit Senior Living Portfolio in Metro Detroit

by Kristin Harlow July 11, 2024

TROY AND ROCHESTER HILLS, MICH. — JLL Capital Markets has arranged the sale of Anthology of Troy and Anthology of Rochester Hills, two seniors housing communities totaling 184 units in metro Detroit. The sales price was undisclosed. Jay Wagner, Rick Swartz and Jim Dooley of JLL represented the seller and procured the buyer, spearheaded by MedCore Partners. American House Senior Living Communities assumed management of both properties. Anthology of Troy now operates as American House Somerset. The 93-unit community was built in 2017. Anthology of Rochester Hills now operates as American House Hampton Village. The 91-unit property was completed in 2018.

July 11, 2024

Acquisitions Montana Retail Western

Benderson Development Acquires Walgreens-Occupied Property in Missoula, Montana

by Amy Works July 11, 2024

MISSOULA, MONT. — Benderson Development has purchased a freestanding retail building, located at 2527 N. Reserve St. in Missoula, located along the Clark Fork River near the Idaho border. Terms of the transaction were not released. Walgreens occupies the retail building. With this acquisition, Benderson expanded its national footprint to 40 states.

July 11, 2024

Acquisitions Hospitality Texas

Marcus & Millichap Brokers Sale of 274-Room Dual-Branded Hotel in Downtown Dallas

by Taylor Williams July 10, 2024

DALLAS — Marcus & Millichap has brokered the sale of a 274-room dual-branded hotel in downtown Dallas. The hotel component of the building, which was constructed in 1910 and houses 237 apartments and 20,000 square feet of commercial space, consists of 132 rooms under the TownePlace Suites brand and 142 rooms under the Fairfield Inn & Suites brand. Shared amenities include an outdoor pool, fitness center, business center, 1,050 square feet of meeting space and a convenience store. Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, Butler Brothers Hospitality Group LLC, which will continue to own and operate the apartments and commercial space, in the transaction. The duo also procured the buyer, a joint venture between Lowen Hospitality and Vashee & Associates.

July 10, 2024

Acquisitions Industrial Texas

Partners Real Estate Arranges Sale of 32,900 SF Industrial Building in Katy, Texas

by Taylor Williams July 10, 2024

KATY, TEXAS — Partners Real Estate has arranged the sale of a 32,900-square-foot industrial building in the western Houston suburb of Katy. According to LoopNet Inc., the single-tenant building at 7633 Cherokee St. was originally constructed in 1980. Hunter Stockard and Wyatt Huff of Partners represented the seller, an entity doing business as BC Real Estate Investments LLC, in the transaction. Jeff Peltier and Ben Condara of Colliers represented the undisclosed buyer.

July 10, 2024

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $20.5M Sale of Atlantic City Multifamily Portfolio

by Taylor Williams July 10, 2024

ATLANTIC CITY, N.J. — New Jersey-based brokerage firm The Kislak Co. has negotiated the $20.5 million sale of a portfolio of three multifamily properties totaling 258 units in Atlantic City. The portfolio includes Atlantic Venice Park Apartments (112 units); Venice Park Condominiums (78 units operated as rentals); and Hamilton Venice Apartments (68 units). The properties were all built in 1970 and comprise 33 buildings that house 237 two-bedroom units and 21 one-bedroom units. Joni Sweetwood of Kislak represented the undisclosed seller, which disposed of the properties via three separate limited liability companies, in the transaction. Sweetwood also procured the undisclosed buyer.

July 10, 2024

Acquisitions Illinois Midwest Multifamily

Interra Realty Brokers Sales of Two Apartment Buildings in Chicago Totaling $5.1M

by Kristin Harlow July 10, 2024

CHICAGO — Interra Realty has brokered the sales of two multifamily properties in Chicago. The first transaction was an eight-unit building at 5130 S. Greenwood Ave. in the Hyde Park neighborhood that sold for $2.9 million. The second was a 17-unit property at 6251 N. Talman Ave. in the West Ridge neighborhood that sold for $2.2 million. Brad Feldman of Interra represented the Greenwood buyer, a local private investor, and the seller, Barnett Capital. Feldman also procured the buyer of the Talman property, a local private investor. Feldman and colleague Kevin Rahmanim represented the seller, a local family-owned limited liability company. Greenwood was built in 1911 and rehabbed in 2020. The building was fully occupied at the time of sale. Talman was built in 1955 and was fully occupied at the time of sale. The buyer plans to renovate all units and add a bedroom to select units.

July 10, 2024

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