TAMPA, FLA. — Newbond Holdings has acquired Aloft Tampa Downtown Hotel, a 130-room hotel located on the Riverwalk in downtown Tampa. Amenities at the property include a waterfront pool and gym, corporate meeting and event space and a bar and lounge. The acquisition brings Newbond’s footprint along the riverfront, which also includes the Hotel Tampa Riverwalk, to more than 700 hotel rooms. JLL arranged acquisition financing on behalf of Newbond, which plans to implement renovations to the guest rooms, public areas and pool deck. Plasencia Group represented the undisclosed seller in the transaction. The sales price was not disclosed.
PEMBROKE PINES, FLA. — Terra has sold 16000 Pines Market, a 135,000-square-foot retail center located in Pembroke Pines, for $56 million. Situated on 13.2 acres and developed between 2020 and 2022, the property was fully leased at the time of sale. Publix anchors the center, whose other tenants include Crunch Fitness, Burlington, First Watch Café, Verizon Wireless, Everglades Family Dental, Tropical Smoothie Café, Cheddar’s Scratch Kitchen, Jersey Mike’s Subs and MD-Now Urgent Care Center. The property also features two standalone parcels that house a U.S. post office and Regions Bank. Mark Gilbert and Adam Feinstein of Cushman & Wakefield represented Terra in the transaction. Apollo Realty Income Solutions (ARIS) acquired the property.
PFLUGERVILLE, TEXAS — Newmark has arranged the sale of Villas Tech Ridge, a 350-unit apartment community located in the northern Austin suburb of Pflugerville. Built in 2009, the garden-style property features a mix of one-, two- and three-bedroom floor plans with an average unit size of 976 square feet. Amenities include a pool with cabanas, a resident clubhouse, fitness center and a fenced dog run. Patton Jones and Andrew Dickson of Newmark represented the seller, an institutional client of New York Life Real Estate Investors, in the transaction. Colin Cross of Newmark arranged acquisition financing through an undisclosed lender on behalf of the buyer, Pegasus Real Estate.
AUSTIN, TEXAS — Chicago-based investment firm Draper & Kramer has acquired Griffis at Riata, a 307-unit apartment community that sits on a 17-acre site in Austin’s tech district. Built in 2017, Griffis at Riata comprises 195 one-bedroom units and 112 two-bedroom units across 17 buildings. Units range in size from 713 to 1,848 square feet and feature plank-style flooring, island kitchens with granite countertops, stainless steel appliances and individual washers and dryers. The amenity package consists of a pool, coworking spaces, resident lounge, two fitness centers, a dog park and outdoor grilling and dining areas. The seller was not disclosed. At the time of sale, the property, which will be rebranded as DK Riata, was 95 percent occupied.
SAN ANTONIO — JLL has brokered the sale of Terrell Plaza, a 107,884-square-foot shopping center located in San Antonio’s Alamo Heights neighborhood. Built in 1986 and renovated in 2012, the center was 96 percent leased at the time of sale to tenants such as Ross Dress for Less, Dollar Tree, Five Below, Popshelf, Sherwin-Williams and Sports Clips. Ryan West, Chris Gerard, John Indelli, Whitney Snell, Ryan Olive and Clay Anderson of JLL represented the seller, SITE Centers Corp., in the transaction. Property Commerce Dividend Fund acquired the asset for an undisclosed price.
SAYREVILLE, N.J. — JLL has arranged an undisclosed amount of acquisition financing and joint venture equity for a 10-acre industrial outdoor storage property located in the Central New Jersey community of Sayreville. The site at 700 Jernee Mill Road houses a 28,500-square-foot warehouse with clear heights ranging from 24 to 28 feet and 14 drive-in doors, as well as 6.5 acres of truck parking and additional outdoor storage space. Michael Klein, Matthew Pizzolato and Benjamin Morgenthal of JLL arranged the financing on behalf of the borrower, a partnership between Ridgecut Road and Brennan Investment Group. An undisclosed regional bank provided the loan.
SHELBYVILLE, IND. — Marcus & Millichap has arranged the $2.4 million sale of a 3,700-square-foot property occupied by Fast Pace Urgent Care in Shelbyville, a southeast suburb of Indianapolis. Built in 2022, the net-leased property is located at 1778 E. State Road. Fast Pace’s lease is for 15 years and features three five-year renewal options along with 10 percent rental escalations every five years. Jordan Klink of Marcus & Millichap represented the buyer, a limited liability company. The seller was undisclosed.
PHOENIX — Orion Investment Real Estate has brokered the sale of Aerie Happy Valley, an apartment community located at 1717 W. Happy Valley Road in Phoenix. The asset, formerly known as FirstStreet Happy Valley, sold for $87.8 million, or $439.25 per square foot. The names of seller and buyer were not released. Aerie Happy Valley features 214 apartments in a mix of 55 one-bedroom/one-bath, 101 two-bedroom/two-bath and 58 three-bedroom/two-bath units. Linda Fritz-Salazar and Angelessa Ritchie of Orion Investment Real Estate handled the transactions.
CEDAR CITY, UTAH — The Mogharebi Group (TMG) has arranged the sale of a 156-room select-service hotel portfolio in Cedar City, located in the southwest portion of the state. A Utah-based private investor sold the portfolio to an undisclosed seller for $8.9 million. The portfolio consists of a 106-room Quality Inn, located at 250 N. 1100 West, and a 50-room America’s Best Value Inn, located at 333 N. 1100 West. Built in 1984 and renovated in 2014, the Quality Inn comprises two-story buildings on three parcels totaling 2 acres. The hotel features a fitness center, indoor heated swimming pool and business center. The America’s Best Value Inn comprises a two-story building on 1.7 acres with an outdoor swimming pool and indoor corridors. Adam Gatto of TMG, along with Kip Paul of Cushman & Wakefield, represented the seller in the deal.
CROTON-ON-HUDSON, N.Y. — View Living has sold an 82-unit multifamily property located in the Westchester County community of Croton-on-Hudson for $14.4 million. The three-building property was originally built in 1963 and offers one- and two-bedroom units. Aaron Jungreis of Rosewood Realty Group and Joe Brecher of Gebroe-Hammer Associates represented View Living the transaction. Alan Soclof and Michael Schattner, also with Rosewood Realty, represented the buyer, New York-based owner-operator Unppg Management LLC.