TORRANCE, CALIF. — Faropoint has entered the Los Angeles market with the purchase of a multi-tenant industrial property at 605-655 Hawaii Ave. in Torrance, a suburb 20 miles south of Los Angeles. The asset traded for $9.9 million. The name of the seller was not released. Built in 1963, the 36,491-square-foot facility is leased to four tenants. The property features tilt-up construction, a clear height of 18 feet and six double dock-high loading doors. Faropoint plans to implement a value-add strategy for the property, including targeted capital improvements and lease optimization.
ENGLEWOOD, COLO. — Kaufman Hagan has negotiated the sale of a 16-unit multifamily building located at 1690 W. Girard Ave. in Englewood. The asset traded for $2 million, or $125,000 per unit. Andrew Vollert of Kaufman Hagan represented the undisclosed buyer and undisclosed seller in the deal.
CAMBRIDGE, MASS. — Newmark has brokered the sale of a life sciences building located at 359 Allston St. in Cambridge. According to LoopNet Inc., the building was constructed in 1987 and totals 7,517 square feet. The building was renovated in 2022 and was fully leased at the time of sale to Vaxess Technologies. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, William Sleeper, Joseph Alvarado and Casey Valente of Newmark represented the undisclosed seller in the transaction and procured the buyer, King Street Properties.
MADISON, WIS. — Midloch Investment Partners and Fountain Real Estate Capital have acquired Tradesmen Industrial, a 131,558-square-foot industrial property in Madison. The purchase price was undisclosed. Midloch and Fountain are co-investors in the facility, which can accommodate warehouse, distribution and manufacturing uses. The asset is fully leased to three tenants. Completed in 2023, the property is located at 5525 Tradesmen Drive and features a clear height of 32 feet, 14 loading docks and direct access to I-39, I-90, Highway 12 and Highway 18. Fountain will handle leasing and management for the property. Judd Welliver of CBRE brokered the sale. Mike Vannelli of CBRE arranged a new mortgage loan through Magnifi Financial on behalf of the buyers.
WACO, TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of a vacant, 106-unit seniors housing property in Waco. Built in 2015, the community offered assisted living and skilled nursing care before closing in 2018. Amenities at the facility include an outdoor courtyard, patio and a putting green. Amy Sitzman and Giancarlo Riso of Blueprint represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
LOUISVILLE, KY. — Marcus & Millichap has negotiated the $13.4 million sale of Hurstbourne Heights, an 84-unit apartment community located at 7603 Downs Farm Way in Louisville. Situated on 6.8 acres in the city’s Highview neighborhood, Hurstbourne Heights was delivered in 2019 and features one-, two- and three-bedroom apartments, as well as a dog park and walking trail. The buyer, a South Carolina-based investor, assumed a HUD-insured loan as part of the transaction. Aaron Johnson and David Badgett of Marcus & Millichap’s Louisville office represented the seller, a locally based developer, and procured the buyer in the transaction. Both parties requested anonymity.
ANAHEIM, CALIF. — NewPoint Real Estate Capital has provided an $82 million Fannie Mae loan to facilitate the acquisition of Park Vista Apartment Homes, a garden-style affordable housing community in Anaheim. Los Angeles-based BLDG Partners purchased the 392-unit property, which is 100 percent mission with all units being affordable at 60 percent of the area median income or lower. Martin Fayer of NewPoint originated the fixed-rate loan, which has a seven-year term with five years of interest-only payments. Originally constructed in 1959 and renovated in 2001, Park Vista consists of 93 two-story buildings spread across 20 acres in southeast Los Angeles. Community amenities include laundry facilities, a pool and barbecue grill, as well as picnic and playground areas.
CITY OF INDUSTRY, CALIF. — West Harbor Capital has completed the disposition of an industrial property located at 705 Baldwin Park Blvd. in the City of Industry to Safco Capital Corp. for $38 million. Cenveo, the nation’s largest envelope manufacturer, fully occupies the 184,778-square-foot property that features loading doors, trailer parking and 4,000 amps of power. Barbara Perrier and Eric Cox of CBRE National Partners West, along with Paul Sablock of JLL, represented the seller in the transaction.
COSTA MESA, CALIF. — Royal Tulip Investments has acquired Newport Victoria Plaza, an office building located at 2183 Fairview Road in Costa Mesa. A Beverly Hills, Calif.-based private seller sold the asset for $7.1 million, or $165 per square foot. The buyer plans to relocate its offices to the 43,250-square-foot building and lease out the remaining space. At the time of sale, the property was 35 percent occupied. Eric Smith of Voit Real Estate Services represented the buyer, while Anthony DeLorenzo, Sammy Demo and Bryan Johnson of CBRE represented the seller in the deal.
FISHERS, IND. — Thompson Thrift has sold Slate at Fishers District, a 242-unit luxury build-to-rent community in the Indianapolis suburb of Fishers. Bonaventure Holding Co. purchased the property for an undisclosed price. George Tikijian, Hannah Ott, Ted Abramson, Cam Benz, Claire Hassfurther, Ryan Stockamp and Sean Pingel of CBRE brokered the sale. Slate at Fishers District features one-, two- and three-bedroom villas as well as three- and four-bedroom townhomes. Amenities include a clubhouse, fitness center, pool, bark park and dog spa. Construction wrapped in May 2024, and the property’s occupancy now exceeds 90 percent. Slate at Fishers District is one of five developments within the larger Fishers District. Once completed, the $750 million project will span 123 acres and include multifamily, hotel, office, dining, shopping and entertainment options.