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Acquisitions

AcquisitionsMidwestMultifamilyWisconsin

JVM Realty Corp. Acquires 300-Unit Luxury Apartment Community in Madison, Wisconsin

by Kristin Harlow

MADISON, WIS. — JVM Realty Corp. has acquired Wrenfield at Pleasant View, a 300-unit luxury apartment community in Madison. Berkadia brokered the sale, and Continental Properties was the seller. JVM rebranded the community from Springs at Pleasant View. Completed in 2022, the property features townhome-style design with private entries across 15 two-story buildings. Floor plans average more than 1,000 square feet and come in one-, two- and three-bedroom layouts. Amenities include a pool, fitness center, clubhouse, business center, car wash and two dog parks with a pet spa area. JVM now owns and manages 21 communities throughout the Midwest.

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AcquisitionsMidwestMinnesotaMultifamilySeniors Housing

JLL Arranges Sale of 166-Unit Seniors Housing Property in Bloomington, Minnesota

by Kristin Harlow

BLOOMINGTON, MINN. — JLL Capital Markets has arranged the sale of Hayden Grove Bloomington, a 166-unit seniors housing property in the Minneapolis suburb of Bloomington. Delivered in 2021, the four-story building offers a continuum of care from independent living to assisted living to memory care. Amenities include underground parking, a private dining room, bistro, coffee lounge, game room, party room, theater, event center, library, craft room, beauty salon and fitness program. JLL represented the seller, Verdot Capital. The buyer was undisclosed. The operator, Great Lakes Management, will stay in place to manage the community.

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AcquisitionsIllinoisMidwestRetail

Greenstone Partners Brokers $2.7M Sale of Retail Property in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — Greenstone Partners has brokered the $2.7 million sale of a three-tenant retail property located at 1044-1048 W. Fulton Market in Chicago’s Fulton Market district. Danny Spitz of Greenstone represented the seller. The asset sold to an East Coast-based private partnership. The retail condominium property features a weighted average lease term of eight years. The sales price was 96 percent of the list price.

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AcquisitionsCompany NewsFloridaSeniors HousingSoutheast

Sonida Senior Living to Acquire CNL Healthcare Properties for $1.8B

by John Nelson

DALLAS AND ORLANDO, FLA. — Seniors housing owner and operator Sonida Senior Living Inc. (NYSE: SNDA) has entered into a definitive merger agreement to acquire CNL Healthcare Properties (CHP), a non-traded public REIT, in a deal valued at $1.8 billion. Upon completion of the merger, the combined company will be the eighth-largest senior living owner, with a portfolio of 153 independent living, assisted living and memory care communities and enterprise value of $3 billion. Under the agreement, Dallas-based Sonida will acquire 100 percent of CHP in a cash and stock transaction. The transaction is expected to close in the first or second quarter of 2026, subject to customary closing conditions. Both the Sonida and CHP board of directors unanimously approved the merger.   Financing for the acquisition will include cash provided by Conversant Capital and Silk Partners — the two largest Sonida shareholders — and debt financing from RBC Capital Markets and BMO Capital Markets. Ahead of the merger, Sonida’s portfolio comprises 97 seniors housing communities that the company owns, manages or invests in, including 84 owned properties. In total, the portfolio serves roughly 10,250 residents. CHP’s current portfolio comprises 69 seniors housing communities with 7,535 units across 26 states.

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AcquisitionsSouth CarolinaSoutheastStudent Housing

TSB Realty Arranges Sale of 330-Bed Student Housing Community Near University of South Carolina

by John Nelson

COLUMBIA, S.C. — TSB Realty has arranged the sale of Columbia Lofts, a 330-bed student housing community located adjacent to the University of South Carolina campus in Columbia. Nimes Real Estate purchased the property from an undisclosed seller. TSB Capital Advisors secured acquisition financing for the transaction, terms of which were not released. Originally built in 1895 as Richland Cotton Mill, the property was converted into apartments in 1984 and renovated in 2012. The community offers 170 units in one-, two-, three- and four-bedroom configurations. Shared amenities include a resort-style pool, barbecue and picnic area, study room, resident lounge and covered bicycle storage. Columbia Lofts was fully occupied at the time of sale.

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AcquisitionsRetailSoutheastTennessee

GBT Realty Acquires Brentwood Corners Shopping Center in Metro Nashville for $10.4M

by John Nelson

BRENTWOOD, TENN. — GBT Realty has purchased Brentwood Corners, a 22,268-square-foot shopping center located at 214 Ward Circle in Brentwood, a southern suburb of Nashville. The locally based buyer purchased the property from an undisclosed seller for $10.4 million. Situated within the Maryland Farms master-planned community, Brentwood Corners was fully leased at the time of sale to tenants including Serrato’s Steakhouse, Jefferson’s Restaurant, Iron Tribe Fitness, WOW Orthodontics and 100 Pizza, which recently opened. The property was recently renovated with a newly paved parking lot, painted facades, new roof, updated landscaping and new LED lighting.

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399-Boylston-Street-Boston
AcquisitionsMassachusettsNortheastOffice

Newmark Brokers $125M Sale of Office Building in Boston’s Back Bay District

by Taylor Williams

BOSTON — Newmark has brokered the $125 million sale of 399 Boylston Street, a 245,084-square-foot office building in Boston’s Back Bay district. The 13-story building has had an average occupancy rate of 85 percent over the past five years and was 90 percent leased at the time of sale. In addition, the property recently underwent a capital improvements program that delivered a new lobby and entryway, as well as improvements to tenant suites. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark represented the seller, an entity doing business as BRE Boylston Owner LLC, in the transaction. David Douvadjian Sr., Timothy O’Donnell, David Douvadjian Jr., Bobby Alvarado and Conor Reenstierna, also with Newmark, arranged acquisition financing on behalf of the buyer, San Francisco-based DivcoWest. CIM Group provided a $93 million acquisition loan for the deal.

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The-Morgan-at-Provost-Square-Jersey-City
AcquisitionsMultifamilyNew JerseyNortheast

JLL Negotiates Sale of 417-Unit Apartment Building in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — JLL has negotiated the sale of The Morgan at Provost Square, a 417-unit apartment building in Jersey City. Built in 2016, the 38-story building houses studio, one-, two- and three-bedroom units with an average size of 876 square feet, as well as penthouses on the top two floors. The Morgan at Provost Square also features approximately 12,700 square feet of retail space and a seven-story parking garage with 372 covered spaces. Amenities include a rooftop pool, fitness center, a sky lounge with a private conference room, an outdoor courtyard, pet spa and multiple coworking spaces. Jose Cruz, Michael Oliver, Steve Simonelli, Ryan Robertson, Elizabeth DeVesty and Austin Pierce of JLL represented the seller, a joint venture that included Toll Brothers Apartment Living, in the transaction. JLL also advised the buyer, private equity real estate firm Rockpoint.

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The-Overlook-Camp-Hill-Pennsylvania
AcquisitionsMultifamilyNortheastPennsylvania

Berkadia Arranges Sale of 288-Unit Overlook Apartments in Camp Hill, Pennsylvania

by Taylor Williams

CAMP HILL, PA. — Berkadia has arranged the sale of The Overlook, a 288-unit apartment community located outside of Harrisburg in Camp Hill. Built in 2012, The Overlook offers one- and two-bedroom units across six buildings. Amenities include a fitness center, yoga studio, pool, business center, dog park, outdoor grilling and dining stations and a clubhouse. Zac Pierce, Matt Stefanski and Maura Spellman of Berkadia represented the undisclosed seller in the transaction. The buyer was locally based investment firm The Apartment Gallery. The Overlook was 97.5 percent occupied at the time of sale.

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AcquisitionsFloridaGeorgiaIndustrialKentuckySoutheast

MDH Partners Acquires 1.5 MSF Industrial Portfolio in Southeast, Midwest for $165M

by John Nelson

ATLANTA — Atlanta-based MDH Partners has purchased a six-property, 1.5 million-square-foot industrial portfolio in the Southeast and Midwest for $165 million. John Huguenard and Trent Agnew of JLL represented the seller, LBA Logistics, in the transaction. The portfolio has an average vintage of 2017, an average clear height of 33 feet and 6.9 years of weighted average lease term remaining, with each property fully leased to a single tenant. The assets include a 69,679-square-foot property in Miami leased to Compass Group USA; a 552,700-square-foot property in Jacksonville leased to Margo Garden Products; a 246,920-square-foot property in Atlanta leased to SupplyOne; a 235,013-square-foot facility in Louisville leased to ICS AmerisourceBergen; a 68,388-square-foot property in Cincinnati leased to GE Aerospace; and a 302,880-square-foot facility in Columbus leased to Hims.

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