NEW YORK CITY — Locally based brokerage firm TerraCRG has arranged the $8 million sale of two multifamily buildings totaling 14 units in Brooklyn. The eight-unit building at 277 Humboldt St. is located in the Williamsburg neighborhood, and the six-unit building at 767 Hart St. is located in the Bushwick area. Matthew Cosentino, Rémi Norris and Ronny Zimin of TerraCRG brokered the deals. The sellers were not disclosed. The buyer of both properties was Partners Path.
STOUGHTON, MASS. — Michigan-based development and management firm KIRCO has purchased Brookmeadow at Blue Hills, a 91-unit assisted living and memory care complex in the southern Boston suburb of Stoughton. The property was built in 2009. Cushman & Wakefield arranged both the sale of the property and subsequent acquisition financing. KIRCO plans to invest about $4 million in capital improvements to the property.
HOUSTON — JLL has arranged the sale of Steeplechase Center, a 195,575-square-foot retail power center in northwest Houston. At the time of sale, Steeplechase Center was 82 percent leased to tenants such as Goodwill, Melrose, Citi Trends, Uptown Beauty, Dollar Tree, dd’s Discounts, 99 Cents Only, Big City Wings, Leslie’s Pool Supplies and Rent-A-Center. John Indelli and Ryan West of JLL represented the seller, an entity doing business as Jones 1960 Crossroads LLC, in the transaction. Nashville-based investment firm Highland Capital purchased the asset for an undisclosed price.
BETHESDA, MD. — JBG Smith, the developer behind Amazon’s HQ2 campus in Arlington, Va., has sold an 80 percent stake for its corporate headquarters at 4747 Bethesda Ave. in Bethesda. An undisclosed investor purchased the interest for $196 million, according to several media outlets. Built in 2019, the LEED Gold-certified building spans 300,508 square feet and was 98 percent leased at the time of sale to tenants including JBG Smith. The property, which is located adjacent to the popular Bethesda Row destination, features a rooftop lounge, modern fitness facility and a penthouse conference room with floor-to-ceiling glass windows. Jim Meisel, Matt Nicholson, Andrew Weir, Dave Baker and Kevin Byrd of JLL represented JBG Smith in the transaction.
GLENVIEW, ILL. — Marcus & Millichap has brokered the $10.2 million sale of Shops at Glen Pointe in Glenview, about 15 miles northwest of the Chicago Loop. Located at 3700 Willow Road, the retail center consists of three buildings and is home to tenants such as Chipotle, Starbucks, Naf Naf Grill and AT&T. The property serves as an outlot to Mariano’s and LA Fitness. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a limited liability company based in Chicagoland. An Iowa-based investment group was the buyer.
PRINCETON, N.J. — JLL has negotiated the $12.7 million sale of a 71,550-square-foot office building in Princeton. Built in 2001, the three-story building sits on 7.6 acres at 150 College Road W and was 69 percent leased at the time of sale. Jeremy Neuer, Jose Cruz, Kevin O’Hearn, Tom Romano and Alexander Alfier of JLL represented the seller, Nessel Development, in the transaction. The buyer was New Jersey-based Strategic Funding Alternatives.
ONTARIO, CALIF. — The Mogharebi Group has arranged the $50.5 million sale of The Landing Apartments, a 156-unit community in Ontario, 37 miles east of Los Angeles. Alex Mogharebi, Otto Ozen, and Bryan LaBar represented the seller, an Orange County-based family. A Los Angeles-based investor acquired the asset at less than a 4.5 percent cap rate. The Landing Apartments offers one- and two-bedroom floor plans, as well as amenities such as in-unit washers and dryers, a pool with a spa, a tennis court, carport parking and a community lake.
TEMECULA, CALIF. — CBRE has brokered the $27.7 million sale of Meadows Village Center, a 67,336-square-foot retail center located in Temecula. Barons Market anchors the center, which was 96 percent leased at the time of sale. Other tenants include Starbucks Coffee, Wells Fargo, Palomar Health, Subway, Crumbl Cookies, The UPS Store and Pacific Dental. The property also features a CVS/pharmacy, which was not included in the sale. Jimmy Slusher, Philip Voorhees and James Tyrrell of CBRE represented the seller, funds managed by affiliates of Fortress Investment Group LLC, in the transaction. RA Centers acquired the property in a 1031 exchange.
RENO, NEV. — Berkadia brokered the sale of and secured financing for Westlook Resort Living, a 192-unit, garden-style property in Reno. Jared Glover of Berkadia Las Vegas completed the sale on behalf of the seller. Clay Akiwenzie of Berkadia Incline Village secured the financing for the buyer. Westlook Resort Living offers one-, two- and three-bedroom floorplans. Community amenities include a clubhouse, fitness center, bocce and cornhole courts, pool and dog park.
DENVER — NorthPeak Commercial Advisors has brokered the sale of two apartment buildings at 1410 N. Marion St. and 1321 E. 14th Ave. in Denver. An undisclosed investment group bought the properties for $10 million. According to Apartments.com, the buildings were built in 1896 and rise three stories. The buyer is planning to renovate all 40 units. Greg Johnson and Conner Piretti represented the buyer and seller in this transaction. The seller, which owned the property for 40 years prior to the sale, was not disclosed.