HALTOM CITY, TEXAS — Locally based investment firm Rise48 Equity has purchased Mosaic Apartments, a 288-unit apartment community located north of Fort Worth in Haltom City. The property offers one- and two-bedroom units and amenities such as two pools, a fitness center and outside grilling and dining stations. The new ownership plans to invest about $7 million in capital improvements and rebrand the property as Rise Fossil Creek. The seller and sales price were not disclosed.
EL PASO, TEXAS — Annapolis, Md.-based investment firm Realterm has acquired an 8.5-acre industrial outdoor storage site in El Paso. The 22-door truck terminal is located at 150 Inglewood Drive on the city’s east side and consists of a 15,047-square-foot terminal building and a 4,036-square-foot maintenance shop. The property was fully leased at the time of sale to DC Logistics. The seller was not disclosed.
WICKLIFFE, OHIO — Phorcys Capital Partners, the investment advisor to Phorcys Senior Housing Recovery Fund LP, has acquired Prosper at Wickliffe in Wickliffe, about 15 miles northeast of Cleveland. The assisted living facility features 160 units. Phorcys made the purchase through a trustee-directed short sale for $13 million. Prosper Life Care will take over management of the property.
CHICAGO — Kiser Group has brokered the sale of a fully leased multifamily property in Chicago’s West Town neighborhood for nearly $4 million. The four-building asset was renovated in 2019. Noah Clark and Jack Petrando of Kiser Group brokered the sale. The locally based buyer is assuming the loan on the property.
LAKE ZURICH, ILL. — Marcus & Millichap has arranged the sale of the Holiday Inn Express & Suites Lake Zurich-Barrington, an 86-room hotel in the northwest Chicago suburb of Lake Zurich. The sales price was undisclosed. The three-story property is located at 197 S. Rand Road. Amenities include an indoor heated pool, breakfast area and fitness center. Ebrahim Valliani and Michael Klar of Marcus & Millichap represented the buyer and seller, both of which were private investors. Chris Gomes and Allan Miller of Marcus & Millichap were also listed on the deal as supporting brokers.
SANDY, UTAH — SSG Realty Partners and Hanley Investment Group Real Estate Advisors have arranged the sale of Canyon Center, a shopping center at 2025-2137 9400 South in Sandy, approximately 15 miles south of Salt Lake City. A Michigan-based private investor sold the asset to a Cincinnati-based investor for an undisclosed price. Greg Swedelson and Jon-Eric Greene of SSG Realty Partners, along with Kevin Fryman and Bill Asher of Hanley Investment Group Real Estate Advisors, represented the seller. Richard Webb of Dallas-based Emersons Commercial Real Estate represented the buyer in the deal. Built in 1987 and expanded in 1988, Canyon Center features 48,537 square feet of retail space. At the time of sale, the 6.5-acre property was 96 percent occupied by a variety of tenants, including Wells Fargo, Domino’s Pizza, F45 Training, Club Pilates, Fantastic Sam’s, Palm Beach Tan, Nautical Bowls, Ski ‘N See, Vessel Kitchen, Kibbles & Cuts, Chocolate Covered Wagon, Salt Cycles Bike Shop, Pella Nails, Brightside Chiropractic, Tiger Rock Martial Arts and Rainbow Sakura Massage. The sale also included ground leases for outparcels occupied by Wendy’s and Smith’s Fuel Station.
RIVERSIDE, CALIF. — AB Potomac Apts LLC has completed the sale of Potomac Apartments, a multifamily asset in the Inland Empire city of Riverside. KEBA Potomac Street LLC acquired the property for $7.7 million, or $227,941 per unit. Located 1.5 miles from California Baptist University, Potomac Apartments features 34 studio, one- and two-bedroom floor plans, averaging 626 square feet. Community amenities include patios, laundry facilities and covered parking. Eric Chen, Kevin Sin and Blake Torgerson of CBRE represented the buyer and seller in the deal. Ryan Wilkinson of CBRE arranged acquisition financing for the buyer.
DENVER — Unique Properties / TCN Worldwide has arranged the sale of an office building located at 1425 Market St. in Denver. The asset sold for $4.7 million. The names of the seller and buyer were not released. Renovated in 2015, the 17,700-square-foot building offers natural light and open floor plans. Sam Leger and Graham Trotter of Unique Properties / TCN represented the seller in the transaction.
HOPKINTON, MASS. — JLL has arranged the sale of a 56,324-square-foot office and data center located in Hopkinton, about 30 miles west of Boston. According to LoopNet Inc., the two-story building at 117 South St. was built in 1981 and renovated in 1985. Mike Restivo and Scott Carpenter of JLL represented the undisclosed seller in the transaction. Brett Paulsrud and Tom Sullivan, also with JLL, arranged acquisition financing on behalf of the buyer, locally based investment firm Rhino Capital. The new ownership plans to implement a value-add program.
JACKSON, TENN. — Strato Capital has acquired a 771,000-square-foot warehouse located in Jackson, a western Tennessee city that sits between Nashville and Memphis via I-40. Strato Capital purchased the asset in a joint venture with an institutional family office. Located on 80 acres within an industrial park, the property features 32-foot clear heights, ESFR sprinklers, a 400-foot truck court and developable land on the site. A publicly traded entity has occupied the building, which was originally a build-to-suit, for 20 years.