CHARLOTTE, N.C. AND CHARLESTON, S.C. — Berkadia has arranged the sale of a multifamily portfolio comprising 2,164 units in South Carolina. The portfolio includes eight communities — Ivystone at Palmetto Pointe in Myrtle Beach; Mallard Pointe and Deerfield Apartments in Rock Hill; Deerfield Run, Waterford Apartments and Ivy Ridge in Easley; and Heritage Trace and Heatherstone Apartments in Piedmont. Caleb Troop of Berkadia’s Charlotte office, along with Mark Boyce of the firm’s Charleston office, represented the private buyer in the transaction. The seller and sales price were not disclosed. Brookside Properties has taken over property management at the communities on behalf of the buyer, which plans to renovate all units over the next three years and upgrade amenities.
MCCALLA, ALA. — Graham & Co. has negotiated the $13 million sale of a 111,983-square-foot distribution and manufacturing facility located in McCalla, about 20 miles southwest of Birmingham. The building, which is fully leased to auto supplier MOBIS, features 30-foot ceiling heights, 21 dock-high doors, ESFR sprinklers and a 130-foot truck court. Sonny Culp of Graham & Co., along with Doug Longyear of Cushman & Wakefield, brokered the transaction. PMUDO Alabama LLC purchased the facility from the developer, an entity doing business as AMR REIT Prestige Industrial II LLC. Built in 2022, the property is situated on 11 acres within Jefferson Metropolitan Industrial Park off I-20.
COLLIERVILLE, TENN. — JLL Capital Markets has brokered the $12 million sale of Collierville Crossing, a 94,331-square-foot shopping center located in Collierville, roughly 30 miles outside of Memphis. Academy Sports + Outdoors anchors the property, which was built in 2004. Other tenants at the center include La Hacienda, Sakura Japanese Restaurant, America’s Best Contacts and Eyeglasses, Sports Clips and Direct General Insurance. Desco Group and Affinius Capital sold the property to an entity doing business as RCG-Collierville VII LLC. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the sellers in the transaction.
BOYNTON BEACH, FLA. — Venture One Real Estate has acquired an industrial portfolio in South Florida through its acquisition fund, VK Industrial VI LP, which is cosponsored by Kovitz Investment Group. The portfolio comprises 197,600 square feet across three buildings located at 1200, 1210 and 1220 S.W. 35th Ave. in Boynton Beach. The properties were constructed between 2000 and 2019 and feature 30- to 35-foot clear heights, ESFR sprinkler systems and dock-high and drive-in loading positions. Tenant spaces within the buildings range from 9,000 to 44,000 square feet. Mike Davis, Dominic Montazemi and Greg Miller of Cushman & Wakefield represented the undisclosed seller in the transaction. The sales price was not disclosed. Christopher Thomson, Matthew McAllister and Eric Cantor of Cushman & Wakefield will market the property for lease on behalf of the buyer.
OXNARD, CALIF. — PSRS has arranged $54 million in financing for the acquisition of Esplanade Shopping Center, a grocery-anchored shopping center in Oxnard, approximately 70 miles west of Los Angeles. Kostas Kavayiotidis, Mike Davis and Matthew Farzinpour of PSRS provided the undisclosed borrower with a seven-year loan, including four years of interest-only payments. A life insurance company provided the financing. Walmart, The Home Depot, TJ Maxx, Nordstrom Rack, Bob’s Discount Furniture, Dick’s Sporting Goods, In-N-Out Burger, Chipotle Mexican Grill and BJ’s Restaurant are tenants at the 357,000-square-foot open-air shopping center.
PHOENIX — CSLC Housing Acquisitions has purchased Arcadia Gardens, a multifamily property in Phoenix. An entity controlled by Phoenix-based Rincon Partners sold the asset for $14.7 million. Originally built in 1969 as a hotel, the 76-unit property was readapted to multifamily use in 2016 and is currently 95 percent leased. Arcadia Gardens features a new resort-style swimming pool, outdoor fire pit, barbecue area, fitness center, two-story clubhouse, event and business center, Wi-Fi café/bar, pet park, putting green, gated entry, covered parking and modern laundry facilities. David Fogler and Steven Nicoluzakis of Cushman & Wakefield’s Multifamily Advisory Group in Phoenix handled the transaction.
GREELEY, COLO. — MedProperties Realty Advisors LLC has acquired a rehab hospital located at 6810 W. 10th St. in Greeley, approximately 50 miles north of Denver. Terms of the acquisition were not released. PAM Health occupies the 51,500-square-foot building, which was completed earlier this year, features 42 in-patient rooms. Capital One and Siemens Financial Services provided debt for the transaction.
MINNEAPOLIS — Marcus & Millichap has brokered the sale of a 29-unit apartment building in Minneapolis for $3.8 million. Located at 3116 Girard Ave., the property features 20 covered parking stalls and five surface parking stalls. More than half of the units have been renovated. Abe Roberts and Michael Jacobs of Marcus & Millichap procured the buyer. Seller information was not provided.
SAN DIEGO — CAPL Building LLC has completed the disposition of an office building, located at 3990 Ruffin Road in San Diego’s Kearny Mesa submarket. California Schools Voluntary Employee Benefits Association acquired the asset for $12.2 million, or $267 per square foot. Situated on two acres, the two-story, 45,940-square-foot building offers flexible floor plans and is leased through 2024. Matt Pourcho, Anthony DeLorenzo, Matt Harris and Casey Sterk of CBRE’s Investment Properties represented the seller, while Randy LaChance and Ryan Bracker of VOIT represented the buyer in the deal.
FLINT, MICH. — Dominion Real Estate Advisors and Lee & Associates have arranged the sale of an 11,892-square-foot medical office building in Flint for an undisclosed price. The property is located at 1321 S. Linden Road within the Cornerstone Office Complex. James Mitchell of Dominion and Michele Rosenblum of Lee & Associates represented the seller, LSPV Cornerstone Owner LLC, otherwise known as Versa Development. The buyer will occupy the building for its medical practice, Mid-Michigan Home and Health Hospice.