MILFORD, CONN. — Pennsylvania-based investment firm Merion Realty Partners has purchased Halstead Milford, a 246-unit apartment community located in southern coastal Connecticut. Virginia-based REIT AvalonBay Communities originally developed the three-story, garden-style property in 2004. Amenities at Halstead Milford include a pool, fitness center, coworking space, game room, outdoor grilling and dining areas and a leasing office. Simon Butler, Biria St. John, Jeff Dunne, John McLaughlin, Eric Apfel, Stuart MacKenzie and Brian Bowler of CBRE represented the seller, an affiliate of The DSF Group, in the transaction. The team also procured Merion Realty Partners as the buyer. The sales price was not disclosed.
IRVINGTON, N.Y. — Marcus & Millichap has brokered the $23.5 million sale of Astor Buck Campus, a 138,000-square-foot office complex in Irvington, about 20 miles north of Manhattan. The three-building property was originally built along the Hudson River in 1895. At the time of sale, Astor Buck Campus was 91 percent leased to 26 tenants in industries such as fashion and design, communications, food service and hydroponic farming. Alan Cafiero, Mark Gjonbalaj and Matt Leszyk of Marcus & Millichap represented the seller, an entity doing business as Stanford Bridge LLC, in the transaction. The team also procured the buyer, Carvi Properties Inc.
CARLSTADT, N.J. — JLL has arranged a $19.5 million acquisition loan for a 109,775-square-foot warehouse and distribution building in the Northern New Jersey community of Carlstadt. The facility at 305 Veterans Blvd. sits on 3.5 acres and features a clear height of 22 feet, six dock-high doors, one drive-in door and 78 parking spaces. Michael Klein, Max Custer and Ryan Carroll of JLL arranged the three-year, floating-rate loan through TriState Capital Bank on behalf of the borrower, Penwood Real Estate Investment Management. The current tenant is in the process of vacating the property, and JLL has also been retained for leasing services.
HUNTERSVILLE, N.C. — Terwilliger Pappas plans to break ground this September on Solis Birkdale, a 210-unit apartment community in the Charlotte suburb of Huntersville. The property will serve as the multifamily component of Birkdale Place, a mixed-use development by Gustafson Partners that will also feature a 140-room hotel and conference center and 45,000 square feet of shops and restaurants. Terwilliger Pappas plans to complete Solis Birkdale in the second quarter of 2025. The property will have studio, one- and two-bedroom apartments and townhomes, as well as a resort-style pool, fitness center with yoga studio, coworking offices, game and lounge areas and a pet spa. The project team includes general contractor Clancy & Theys, architectural firm BB+M and landscape architect and civil engineer Bolton & Menck. Also in the Carolinas, Terwilliger Pappas recently sold Solis Nexton in the Charleston suburb of Summerville, S.C., to Boston-based West Shore. The sales price was not disclosed.
BIRMINGHAM, ALA. — A joint venture between Coro Realty and H2RE Capital has purchased Airport Highway Park, a 319,413-square-foot industrial campus in Birmingham. The sales price and seller were not disclosed. The seven-building park is situated along Messer Airport Highway near Birmingham-Shuttlesworth International Airport. The seven warehouses were fully leased at the time of sale. Tripp Alexander of Colliers brokered the transaction. Coro and H2RE Capital plan to make capital improvements to Airport Highway Park during their ownership period.
CHARLOTTE, N.C. — Stream Realty Partners has brokered the sale of 36 & NoDa, a 26,447-square-foot retail center located at 501-517 E. 36th St. in Charlotte’s North Davidson (NoDa) neighborhood. AJ Capital Partners purchased the center from Charlotte-based Ascent Real Estate Capital for $10.3 million. Jared Londry and Alex Olofson of Stream Realty represented the seller in the transaction. 36 & NoDa was fully leased at the time of sale to tenants including Salud Cerveceria and Neighborhood Theatre.
VIRGINIA BEACH, VA. — Cushman & Wakefield has negotiated the $101.9 million sale of Marina Shores Apartment Homes, a 392-unit multifamily community located at 257 Willow Oak Circle in Virginia Beach. FPA Multifamily acquired the property from the undisclosed seller. Jorge Rosa and T.J. Liberto of Cushman & Wakefield partnered with NAI Global to represent the seller in the transaction. Marina Shores features one-, two- and three-bedroom units, as well as a saltwater swimming pool, fitness center, resident clubhouse and kitchen, two fenced dog parks, outdoor grilling and lounge area, tennis court and covered parking.
BRADENTON, SANFORD AND PINELLAS PARK, FLA. — Grandbridge Real Estate Capital’s Senior Housing Investment Sales team has arranged the sale of three seniors housing communities in Florida in three separate transactions. The seller, an unnamed national REIT, sold the assets for undisclosed prices. The properties include the 112-unit Bradenton Oaks located in Bradenton, the 94-unit Renaissance Retirement Center in Sanford and the 145-unit Bayside Terrace in Pinellas Park. Bradenton Oaks was built in 1973 and 1988, The Renaissance was built in 1984 and Bayside Terrace was built between 1986 and 1989. The communities were operating at low occupancies and an operational loss at the time of sale, according to Grandbridge. The buyers include a Florida-based real estate investment firm and two seniors housing owner-operators.
ROCKLEDGE, FLA. — Marcus & Millichap has brokered the $4.8 million sale of Rockledge Business Center, a 47,000-square-foot industrial facility located at 1535 Cogswell St. in Rockledge. The buyer and seller, both private investors, requested anonymity. Ray Turchi and David Vaughn of Marcus & Millichap’s Orlando office represented both parties in the transaction.
AUSTIN, TEXAS — Newmark has brokered the sale of Alexan Springdale, a 251-unit apartment community in East Austin. Alexan Springdale features studio, one- and two-bedroom units that have an average size of 824 square feet. Amenities include a pool, outdoor grilling and dining areas, fitness center, game room and a clubhouse. Patton Jones and Andrew Dickson of Newmark represented the seller, Trammell Crow Residential, in the transaction. New York-based Sterling Equities purchased the asset, which was 94 percent occupied at the time of sale, for an undisclosed price.