SHERMAN, TEXAS — Marcus & Millichap has brokered the sale of a 69-room Comfort Inn hotel in the North Texas city of Sherman. Built on 4.3 acres in 1999 and renovated in 2020, the hotel offers a business center, fitness center, indoor pool and onsite laundry facilities. Chris Gomes, Allan Miller and Skyler Cooper of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
ST. PETERSBURG, FLA. — An affiliate of Ram Realty Partners VII has purchased Beacon 430, a 327-unit apartment community located on a 4.3-acre site in downtown St. Petersburg. The four-story property was delivered in 2014. The seller and sales price were not disclosed. Ram plans to implement a value-add program at Beacon 430 focused on operational enhancements, common area/amenity improvements and select unit interior upgrades.
PHILADELPHIA — Local brokerage firm Agent PHL has arranged the $8.4 million sale of Pelham Place, a 36-unit apartment building located in the Mount Airy neighborhood of northwest Philadelphia. The four-story building was completed in 2017 and offers four one-bedroom apartments, 27 two-bedroom units and five three-bedroom residences, as well as two retail spaces. Amenities include a fitness center and a lounge with a wet bar, TVs and games. Ryan McManus and Brandon Ribeiro of Agent PHL brokered the deal. The buyer and seller were not disclosed.
GLENDALE, ARIZ. — San Francisco-based Hamilton Zanze has completed the disposition of Tresa at Arrowhead, a multifamily community in Glendale. TerraCap Management acquired the asset for $82.1 million. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller in the deal. CBRE Debt & Structured arranged financing for the buyer. Completed in 1998, the low-density garden site plan features two-story buildings offering a total of 360 apartments. The gated community has 107 detached garages, three pool and spa areas, a large resident clubhouse and game room, a fitness center with cardio and weight training equipment, a dog park, barbecue and picnic areas and a dry sauna.
WINDSOR, COLO. — Prospect Station LLC, as part of a 1031 exchange, has completed the sale of a Class A industrial property located at 7365 Greendale Road in Windsor. NMH Greendale LLC acquired the building for $11.2 million in an off-market transaction. Travis Ackerman of Cushman & Wakefield represented the seller, while Standard Commercial’s Ian Ciagstone represented the buyer in the deal. The 39,000-square-foot building features two overhead grade doors, a dock-high door, 20- to 24-foot clear heights, 3-phase 1,200-amp power and a 9,000-square-foot mezzanine. Additionally, the property offers ample parking, efficient circulation, sprinklers throughout and light industrial zoning.
ROSEVILLE, MICH. — Standard Communities has acquired The Meadows, a 124-unit multifamily property in Roseville, a suburb about 15 miles northeast of downtown Detroit. The transaction marks Standard’s second investment in Michigan. All of the units will be income-restricted and supported by project-based Section 8 Housing Assistance Payment (HAP) contracts. Of the 124 units, 111 are restricted to households earning at or below 60 percent of the area median income (AMI) and 13 are restricted to those earning up to 40 percent AMI. Affordability has been extended through a 20-year Section 8 renewal via a HAP assignment and assumption and mark-up-to-market structure. The property consists of 21 residential buildings along with a leasing and community building. Financing for the acquisition was completed in partnership with the Michigan State Housing Development Authority, which served as tax credit allocator and bond issuer. The City of Roseville provided a new Payment in Lieu of Taxes agreement, and the U.S. Department of Housing and Urban Development approved the contract renewal. Standard will complete a comprehensive tenant-in-place renovation totaling approximately $10.5 million. Units will be updated with quartz countertops, stainless steel appliances, luxury vinyl plank flooring, refreshed bathrooms and upgraded lighting. The community building will …
MCHENRY, ILL. — Marcus & Millichap has brokered the $13.7 million sale of McHenry Town Center, an eight-suite, grocery-anchored center in McHenry. Built in 2003, the 94,658-square-foot property is home to Aldi, Petco, Five Below, Bath & Body Works, Michaels and Famous Footwear. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a private family with offices overseas and in Chicago, and procured the 1031 exchange buyer.
VIRGINIA BEACH AND NORFOLK, VA. — AH Realty Trust (NYSE: AHRT), a Virginia Beach-based real estate investment trust (REIT) that changed its name from Armada Hoffler two weeks ago, has agreed to sell 11 of its 14 apartment properties to Norfolk-based Harbor Group International LLC for $562 million in an all-cash transaction. The deal marks an effort by AH Realty to pivot away from the multifamily sector. Harbor Group has provided a $15 million nonrefundable deposit for the transaction, which the companies say is not contingent on financing. The portfolio sale is expected to close in mid‑2026, subject to customary closing conditions. “HGI is acquiring a strong, stable portfolio that has served our company well,” says Shawn Tibbetts, chairman, president and CEO of AH Realty Trust. “By realizing the value of these assets, AH Realty Trust is able to simplify our business, strengthen our balance sheet and continue executing our strategy with clarity and purpose.” According to multiple media outlets, including the Baltimore Business Journal, the assets in the portfolio include: AH Realty Trust will retain Smith’s Landing, a five-story, 284-unit property in Blacksburg, Va. The firm will also keep The Everly and Solis Gainesville in Gainesville, Ga., with the intention …
DALLAS — Marcus & Millichap has brokered the sale of a 103-room hotel in West Dallas. The Residence Inn Dallas at The Canyon is an extended-stay hotel that was built in 2018 and offers studio and one-bedroom suites with full kitchens. Amenities include a pool, fitness center, business center and a convenience store. Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, Dallas-based Atlantic Hotel Group, in the transaction. Clayton Hill and Gordon Allred, also with Marcus & Millichap, procured the buyer, a private investment group doing business as Jean Valjean LLC.
TEMPLE, TEXAS — California-based investment firm Vital Capital Partners has purchased a 38,817-square-foot rehabilitation hospital in the Central Texas city of Temple. The 36-bed inpatient facility was developed in 2018 on a six-acre site at 23621 SE H K Dodgen Loop as a build-to-suit project for the tenant, LifePoint Health. The seller and sales price were not disclosed.