Thursday, June 19, 2025
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Acquisitions

Tallman-Hotel-Upper-Lake-CA
AcquisitionsCaliforniaHospitalityRestaurantRetailWestern

Curtis Holdings Sells Tallman Hotel, Blue Wing Saloon in Lake County, California

by Amy Works

UPPER LAKE, CALIF. — Curtis Holdings has completed the disposition of Tallman Hotel and Blue Wing Saloon, located at 9550 Main St. and 9520 Main St., respectively, in Upper Lake. Amar and Rajvi Alapati acquired the assets for an undisclosed price. The buyers will add the properties to its Serenity Hotels Collection. Alex Lee-Bull and Lauren Liebes of CBRE represented the seller. The Tallman Hotel offers 17 rooms across nine buildings. Originally built in 1896, the hotel was renovated between 2002 and 2005 and reopened in 2006 with modern amenities, including an outdoor swimming pool, gardens and a meeting room. Select rooms offer outdoor showers and Japanese Ofuro soaking tubs.

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729-S-Commerce-St-Stockton-CA
AcquisitionsCaliforniaIndustrialWestern

Marcus & Millichap Brokers Sale of 13,440 SF Warehouse in Stockton, California

by Amy Works

STOCKTON, CALIF. — Marcus & Milichap has arranged the $1.2 million sale of a warehouse property located at 729 S. Commerce St. in Stockton. Matt Sulaiman and Abdullah Sulaiman of Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the deal. Brandon Dena of Marcus & Millichap provided financing support for the transaction. Constructed in 1973, the 13,440-square-foot property features heavy power, a large yard, custom-built office space and convenient access to major freeways.

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AcquisitionsMidwestMultifamilyWisconsin

CBRE Arranges Sale of Two Multifamily Properties in Wisconsin for $10.1M

by Kristin Harlow

MAUSTON AND RACINE, WIS. — CBRE has arranged the sale of Riverwood Apartments and Biscayne Apartments, two multifamily properties totaling 112 units in Mauston and Racine, for $10.1 million. An Iowa-based multifamily investor and developer purchased the assets from an Iowa-based multifamily investor. CBRE’s Max Colby, Sean Beuche, Matson Holbrook, Patrick Gallagher and Gretchen Richards represented the seller. Riverwood Apartments is proximate to I-90 and minutes away from Decorah Lake. Built in 1994, the 32-unit property features a mix of one-, two- and three-bedroom floor plans. Biscayne Apartments is located at 5010 Biscayne Ave. Built in 1960, the asset features 80 units in a variety of one-, two- and three-bedroom floor plans.

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AcquisitionsMidwestMinnesotaOffice

Transwestern Brokers Sale of 58,645 SF Office Showroom in Eagan, Minnesota

by Kristin Harlow

EAGAN, MINN. — Transwestern Real Estate Services has brokered the sale of a 58,645-square-foot office showroom located at 3020 Denmark Ave. in the Minneapolis suburb of Eagan for an undisclosed price. Transwestern’s Mike Honsa and John Thompson represented the seller, Blue Water III LLC. The buyer, the Plumbers and Gasfitters Local 34 union, is consolidating its operations and moving both its corporate office and training center to the property. The union was previously based at 353 7th St. in St. Paul. The property was previously occupied by CHS, which had been in the building since its completion in 1998. Blue Water III LLC’s decision to sell came when the building became vacant for the first time. Jordan Dick, Todd Hanson and Jason Sell of Cushman & Wakefield represented the buyer.

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AcquisitionsIllinoisIndustrialMidwest

Venture One Acquires 31,394 SF Industrial Building in Batavia, Illinois

by Kristin Harlow

BATAVIA, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 31,394-square-foot industrial building in the Chicago suburb of Batavia. Located at 1563 Hubbard Ave., the single-tenant property was fully leased at the time of sale. Constructed in 1980 and situated on 2.2 acres, the building features two exterior docks, one drive-in door and parking for over 80 cars. Matthew Stauber of Colliers represented the undisclosed seller. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group. The fund targets industrial acquisitions in the Chicago, Northeast and Florida markets.

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AcquisitionsFloridaLoansMultifamilySoutheastVirginia

Gantry Secures $59.6M in Acquisition Financing for Three Multifamily Communities in Florida, Virginia

by John Nelson

TALLAHASSEE, FLA. AND NEWPORT NEWS, VA. — Gantry has secured three loans totaling $59.6 million for the acquisition of three apartment communities in Florida and Virginia. The properties, which total 249 units, include Sanctuary Apartments and Serenity Court Apartments in Tallahassee and Jimmy Apartments in Newport News. All three properties were acquired out of receivership and funded for repositioning, improvements and new leasing programs. Mark Reichter and Alec Frook of Gantry’s Kansas City production office arranged the loans through one of the firm’s life company lenders on behalf of the borrower, a private real estate investor. The bridge loans include upfront interest-only terms followed by 30-year amortization schedules and include capital expenditure funds. Gantry will service the loans.

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AcquisitionsIndustrialLoansNorth CarolinaSoutheast

JLL Negotiates Sale of 652,647 SF Industrial Portfolio in Metro Charlotte, Raleigh-Durham

by John Nelson

CHARLOTTE, N.C. — JLL has negotiated the sale of a five-property industrial portfolio spanning 652,647 square feet in submarkets in the Charlotte and Raleigh-Durham areas. The specific properties were not released. Pete Pittroff, Michael Scarnato, Dave Andrews and Michael Lewis of JLL represented the seller, LM Real Estate Partners, in the transaction. Lightstone purchased the portfolio for an undisclosed price. Peter Rotchford and Taylor Allison of JLL arranged a seven-year, fixed-rate acquisition loan for Lightstone through Voya Investment Management. According to JLL, the portfolio offered a value-add opportunity to the buyer as there is 116,000 square feet of availability and in-place rents roughly 27 percent below market rates. The 12 tenants in the portfolio have about 3.6 years of WALT (weighted average lease term) remaining.

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AcquisitionsHospitalityLoansLouisianaSoutheast

Hunter Brokers Sale of 294-Room Crowne Plaza Executive Center Baton Rouge Hotel in Louisiana

by John Nelson

BATON ROUGE, LA. — Atlanta-based Hunter Hotel Advisors has brokered the sale of Crowne Plaza Executive Center Baton Rouge, a 294-room hotel located near the campus of Louisiana State University (LSU) and Tiger Stadium. APM Property Holdings LLC purchased the hotel from a private seller for an undisclosed price and has selected Schulte Hospitality to operate the hotel. The Crowne Plaza features an outdoor pool, a 3,000-square-foot fitness center, the Patio Grille and Lounge restaurant and more than 32,000 square feet of flexible event space, including 17 meeting rooms and three ballrooms. Tim Osborne and Kami Burnette of Hunter brokered the transaction. Additionally, Adeel Amin of Hunter arranged an $11.7 million acquisition loan that was underwritten at a 65 percent loan-to-value ratio with interest-only payments over the three-year term.

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Bella-Encanta-Mesa-AZ
AcquisitionsArizonaBuild-to-RentSingle-Family RentalWestern

CBRE Brokers $95.7M Sale of Bella Encanta BTR Community in Mesa, Arizona

by Amy Works

MESA, ARIZ. — CBRE has negotiated the sale of Bella Encanta, a build-to-rent (BTR) community in Mesa. Bela Flor Communities sold the asset to a global institutional investor for $95.7 million. Griffen Tymins, Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the Mesa-based seller in the deal. Completed in 2023, the 212-unit property features duplex-style homes with wood-style plank flooring, nine- and 10-foot ceilings, full-size washers/dryers, granite countertops, undermount sinks, eat-in islands, stainless steel appliances, gas cooktops, Shaker-style cabinetry and subway tile backsplashes, as well as a private two-car attached garage with electric vehicle charging capabilities. Community amenities include a resident clubhouse with a fitness center with climbing wall, demonstration kitchen, billiards table, leasing office, conference room, meeting space and seating areas. Outdoor amenities include soccer fields, two pet parks with a wash station, a sand volleyball court, a basketball half-court, two pickleball courts, a children’s playground, walking paths and multiple picnic areas with barbecue grills.

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Poway-Valley-Center-Poway-CA
AcquisitionsCaliforniaRetailWestern

Capstone Advisors Sells Poway Valley Retail Property in California for $11.6M

by Amy Works

POWAY, CALIF. — Capstone Advisors has completed the disposition of Poway Valley Center, a shopping center in Poway, to Badal Satasiya for $11.6 million. Located at 13314-13340 Poway Road, the property offers 24,802 square feet of retail space with 16 tenants, including Little Sprouts Daycare, Wingstop, Poway Irish Pub, Don Pollo Mexican Food and Bongiorno’s Pizzeria. Reg Kobe, Joel Wilson and Michael Peterson of CBRE represented the seller, while Jimmy Leach and Erik Ransdell of Strands Realty Group represented the buyer in the deal.

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