Acquisitions

Cushman & Wakefield | Commercial Kentucky Arranges Sale of 289,937 SF Shopping Center in Louisville

by John Nelson January 5, 2026

LOUISVILLE, KY. — Cushman & Wakefield | Commercial Kentucky has arranged the sale of Indian Trail Square, a 289,937-square-foot shopping center located at 5733 Preston Highway in Louisville. The property’s tenant roster includes Save A Lot, Dollar Tree, Ollie’s Bargain Outlet and Citi Trends. Lexington, Ky.-based BC Wood Properties sold the 30-acre property to an undisclosed buyer. The sales price was also not disclosed. Craig Collins and Austin English of Cushman & Wakefield | Commercial Kentucky, along with Evan Halkias, Hank Davis and David Matheis of Cushman & Wakefield, represented the seller in the transaction.

January 5, 2026

Acquisitions Illinois Midwest Multifamily

S2 Capital Acquires 344-Unit Ovaltine Apartments in Villa Park, Illinois

by Kristin Harlow January 5, 2026

VILLA PARK, ILL. — S2 Capital has acquired Ovaltine Apartments, a 344-unit multifamily property in the western Chicago suburb of Villa Park. The acquisition marks the firm’s first investment in the greater Chicago area. Originally converted from the historic Ovaltine chocolate factory in 2001, Ovaltine Apartments offers loft-style units. The property’s average occupancy has remained above 95 percent since January 2024. Approximately 98 percent of the units remain unrenovated or only partially upgraded, providing S2 the opportunity to execute a comprehensive renovation plan. S2 acquired the asset through its S2 Real Estate Fund II.

January 5, 2026

Acquisitions Industrial Kentucky Southeast

Highline, GCP Acquire 936,000 SF Industrial Facility in Metro Louisville Leased to Amazon

by John Nelson December 23, 2025

SHEPHERDSVILLE, KY. — A joint venture between Highline Real Estate Partners and Growth Capital Partners (GCP) has purchased a 936,000-square-foot industrial facility located at 100 W. Thomas P. Echols Lane in Shepherdsville, a southern suburb of Louisville. Built in 2009 near an I-65 interchange, the 51.5-acre property has been fully leased to Amazon since 2013. George Fallon of CBRE represented the undisclosed seller in the transaction. The sales price was also not disclosed.

December 23, 2025

Acquisitions Louisiana South Carolina Southeast Student Housing

GMH Communities, AEW Capital Buy Two Student Housing Communities Near Clemson University, LSU

by John Nelson December 23, 2025

CLEMSON, S.C. AND BATON ROUGE, LA. — A joint venture between GMH Communities and AEW Capital Management has acquired two student housing communities in Clemson and Baton Rouge. The acquisitions included Dockside at Clemson, a 633-bed student housing property located near the Clemson University campus in South Carolina; and Flatiron, a 293-bed community located near Louisiana State University (LSU) in Baton Rouge. Dockside has been rebranded The Cove at Clemson as part of the acquisition. The property offers units in studio, one-, two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include study rooms and lounges, a coffee bar, fitness center, lakefront boardwalk, game room, dog park and walking paths. Flatiron offers units in studio, one-, four- and five-bedroom configurations with bed-to-bath parity. Shared amenities include a fitness center, computer lab, pool, grilling station, yoga studio, clubhouse, dog park and study rooms. Mike Brady, Jake Wisness, Bill Maloney and Jake Davidson of JLL secured financing for the acquisition. Teddy Leatherman of JLL brokered the acquisition of the properties from seller Fountain Residential. Terms of the transaction were not released.

December 23, 2025

Acquisitions Multifamily South Carolina Southeast

Berkadia Brokers Sale of 240-Unit Apartment Community in Murrells Inlet, South Carolina

by John Nelson December 23, 2025

MURRELLS INLET, S.C. — Berkadia has brokered the sale of Waterleaf at Murrells Inlet, a 240-unit, garden-style apartment community located at 13 Muddy Bay Drive near Myrtle Beach. Caleb Troop, Mark Boyce, Jim Sewell, David Lansbury, Erika Maston, Blake Coffey, Thomas Colaiezzi and Matt Robertson of Berkadia represented the seller, Greenville, S.C.-based Graycliff Capital, in the transaction. North Carolina-based Chaucer Creek Capital purchased Waterleaf at Murrells Inlet for an undisclosed price. Jeremy Lynch and Jake Adoni of Berkadia’s Philadelphia office secured acquisition financing on behalf of the buyer. Built in 2018, the apartment community features one-, two- and three-bedroom apartments ranging in size from 726 to over 1,100 square feet. Amenities include a fitness center with cardio and weightlifting equipment; a clubhouse with a lounge, game room and fireplace; dog park with a wash station; a saltwater swimming pool; an outdoor entertainment area with a firepit; private garages; and a car wash station.

December 23, 2025

Acquisitions Development Hospitality Multifamily New York Northeast

Partnership Buys Midtown Manhattan Hotel for $255M, Plans Affordable Housing Conversion

by Taylor Williams December 23, 2025

NEW YORK CITY — A partnership between local owner-operator Slate Property Group and nonprofit supportive housing developer Breaking Ground has acquired the Stewart Hotel in Midtown Manhattan for $255 million with plans to implement an affordable housing conversion. Slate will develop the project, which will convert the 611-room hotel into a 579-unit apartment complex, and Breaking Ground will own and operate the property upon completion. The 31-story hotel, which is located across from Penn Station and closed in 2022, also features a 100-space underground parking garage, 12,000 square feet of ground-floor retail space and 3,500 square feet of ballroom space. All units will be reserved for low-income households and/or formerly homeless individuals, with rents to range from $1,385 to $1,731 per month. Construction is scheduled to begin late next year. As part of the redevelopment, the project team will replace all major utility and mechanical systems, upgrade lighting and merge adjacent hotel rooms into living spaces as needed. New office space will be constructed for onsite social services, and the building will also have full-time security and maintenance staff.

December 23, 2025

Acquisitions New Jersey Northeast Retail

Marcus & Millichap Brokers $7.3M Sale of Retail Strip Center in Rutherford, New Jersey

by Taylor Williams December 23, 2025

RUTHERFORD, N.J. — Marcus & Millichap has brokered the $7.3 million sale of a 21,897-square-foot retail strip center in the Northern New Jersey community of Rutherford. The property at 308–314 Union Ave. was originally built in 1925 and most recently renovated in 2019. Tenants include Dunkin’, Kiddie Academy, Three Star News Stand, Next Big Coder, Master Park’s and Laundry Guy’s. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

December 23, 2025

Acquisitions Industrial New Jersey Northeast

Kislak Negotiates $3.3M Sale of Industrial Facility in Pennington, New Jersey

by Taylor Williams December 23, 2025

PENNINGTON, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $3.3 million sale of a 30,375-square-foot industrial facility in Pennington, located just north of Trenton. The multi-building facility is known as Hopewell Valley Industrial Park and was originally built on 8.2 acres in 1988. Daniel Lanni of Kislak represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

December 23, 2025

Acquisitions Multifamily Washington Western

Trammell Crow Residential Sells Alexan Access Apartment Complex in Lynnwood, Washington for $142M

by Amy Works December 23, 2025

LYNNWOOD, WASH. — Trammell Crow Residential has completed the disposition of Alexan Access, a multifamily property in Lynnwood, to Bell Partners for $142 million. Located at 2727 Alderwood Mall Blvd., Alexan Access features 383 studio, one-, two- and three-bedroom units across four buildings. Built in 2023, the community offers a pool and spa, sky lounge with rooftop deck, state-of-the-art athletic club with second-level yoga/spin studio, outdoor recreational area featuring a pickleball court and business lounge with work-from-home nooks. David Young, Corey Marx and Chris Ross of JLL represented the seller in the transaction. Charles Halladay, Travis Anderson, Brad Woolard and Seth Heikkila of JLL arranged $83.2 million in acquisition financing for buyer.

December 23, 2025

Acquisitions California Office Western

DivcoWest Buys 66,000 SF Office Building in Redwood City, California

by Amy Works December 23, 2025

REDWOOD CITY, CALIF. — DivcoWest, a DivCore Capital company, has acquired 1991 Broadway, a three-story, 66,000-square-foot office building in downtown Redwood City, from an owner-user in an off-market transaction. Simultaneous with the closing, DivcoWest executed a 45,000-square-foot long-term lease with Paul Hastings, a global law firm, that will serve as the anchor tenant for the building. As a result of the Paul Hastings lease, the building was 82 percent leased to three tenants at closing. Ham Southworth, Ken Rapp and Morgan Griffith of CBRE represented Paul Hastings in the lease negotiations. Ben Paul of Cushman & Wakefield represented DivcoWest.

December 23, 2025

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