FOREST PARK, ILL. — Interra Realty has brokered the $1.8 million sale of a 15-unit apartment building in the Chicago suburb of Forest Park. Located at 102 Rockford Ave., the three-story property was constructed in 1979. There are five studios and 10 one-bedroom units, all of which were fully occupied at the time of sale. Patrick Kennelly and Paul Waterloo of Interra represented both parties in the transaction. The buyer completed a 1031 exchange.
FORT WORTH, TEXAS — North Carolina-based investment firm Bell Partners has acquired Presidio East, a 312-unit apartment community in North Fort Worth that was built in 2017. According to Apartments.com, the property offers one-, two- and three-bedroom units that range in size from 661 to 1,469 square feet and amenities such as a pool, fitness center, clubhouse, dog park and package lockers. Bell Partners will implement a value-add program and rebrand the property as Bell Presidio. The seller and sales price were not disclosed.
MONTCLAIR, CALIF. — Archway Equities has acquired The Paseos at Montclair, a 385-unit apartment community in the Inland Empire city of Montclair, for $150 million. The Paseos at Montclair was built in 2014. The garden-style community offers studio, one-, two- and three-bedroom units. Amenities include two pools with spas and cabanas, a fitness center, yoga room, children’s entertainment suite, conference center and entertainment lounge. Pacific Urban Investors’ structured finance group provided preferred equity to facilitate the transaction. The seller was not disclosed.
POCATELLO, IDAHO — Kidder Matthews has brokered the sale of Pocatello Square, a 138,064-square-foot shopping center in Pocatello, approximately 160 miles north of Salt Lake City. Tenants at the property, which was built in 2006 and fully leased at the time of sale, include Dick’s Sporting Goods, Grocery Outlet, Ross Dress for Less, JOANN Fabric and Crafts and Old Navy. Mike King, Erik Swanson, Darren Tappen, Peter Beauchamp and Nathan Thinnes of Kidder Matthews represented the seller, CWCapital, in the transaction. An undisclosed buyer purchased the center through CWCapital’s online auction platform, RI Marketplace. The price was not disclosed.
DICKINSON, N.D. — Friedman Real Estate brokered the sale of West River Apartments. West River Apartments is 234-unit community in Dickinson, a city in Stark County. The community offers studio, one-, two- and three-bedroom units, according to the property website. Amenities include a fitness center, 24-hour emergency maintenance and a dog park. Rich Deptula and Steven Silverman led the Friedman team. The buyer, seller and price were not disclosed.
NEW YORK CITY — Locally based brokerage firm Brax Realty has arranged the $8 million sale of a 37-unit apartment building in Manhattan’s Gramercy Park neighborhood. Michael Ferrara and Alan Stenson of Brax Realty represented the seller, a long-term owner, in the transaction and procured the purchaser, a private investor. Both parties requested anonymity. The property was 84 percent occupied at the time of sale.
WASHINGTON, D.C. — PRP has acquired Spring Valley Village, a 95,000-square-foot shopping center in Washington, D.C.’s Spring Valley neighborhood. The undisclosed seller sold the property for $47.5 million. Originally constructed in 1939 and renovated in 2017, the center comprises six buildings that were 98 percent leased at the time of sale to tenants including Crate & Barrel, Millie’s Restaurant, Capital One Bank, Starbucks, Small Door Veterinary, Compass Coffee and Blue Lane. Spring Valley Village is listed on the National Register of Historic Places.
ATLANTA — Northland has partnered with Ascent Property Management to purchase Glenwood at Grant Park, a 216-unit apartment community located in Atlanta’s Grant Park neighborhood. The seller and sales price were not disclosed. Built in 2016, the midrise property features a mix of studio, one- and two-bedroom apartments. Amenities include a 24-hour business center, fitness center, bocce ball court, coffee bar, resort-style pool and courtyard, pet washing station, a resident lounge and game room, package lockers, EV charging stations and access to the Atlanta BeltLine. This is Northland’s ninth acquisition in Georgia since entering the market in 2020.
DEERFIELD BEACH, FLA. — Cushman & Wakefield has brokered the sale of Quiet Waters Business Park, an infill industrial park in South Florida’s Deerfield Beach. PGIM Real Estate sold the seven-building, 677,789-square-foot property for an undisclosed price. The buyer was also not disclosed. Mike Davis, Dominic Montazemi, Rick Brugge, Rick Colon, Greg Miller, Cassandra Hernandez and Chloe Strada of Cushman & Wakefield represented the seller in the transaction. Matthew McAllister, Christopher Thomson, Chris Metzger and Rick Etner of Cushman & Wakefield’s South Florida Industrial Team will handle the property’s leasing assignment going forward. Quiet Waters is situated along the planned expansion of SW 10th Street, which will offer more direct connectivity to I-95, Sawgrass Expressway and the Florida Turnpike. The park houses 30 tenants and features a wide range of bay sizes with dock-high and grade-level loading.
ADDISON, TEXAS — Energy services provider JP Oil Holdings has sold a 74,301-square-foot industrial building located at 3801 Arapaho Road in the northern Dallas metro of Addison. According to LoopNet Inc., the property was built on 5.4 acres in 1981 and features 14- to 16-foot clear heights. Mac Morse and Paul Clarkson of Citadel Partners represented JP Oil Holdings in the transaction. Jeremy Mercer and Keenan Cook of Mercer Co. represented the buyer, Georgia Underground & Supply.
