ENGLEWOOD, COLO. — Malman Commercial Real Estate has arranged the acquisition of an 8,050-square-foot industrial building located at 2703 S. Shoshone St. in Englewood, just south of Denver. AMAC Holdings Ltd. purchased the asset from LTW Properties LLC for $1.6 million. Jake Malman of Malman Commercial represented the buyer, while Tim Shay and TJ Smith of Colliers represented the seller in the transaction.
BOSTON — Boston-based investment firm Taurus Investment Holdings has purchased six industrial buildings totaling 589,837 square feet that are located throughout the greater Dallas area. Taurus acquired the buildings, the specific addresses of which were not disclosed, as part of a portfolio sale that also includes six buildings in the Atlanta area totaling 334,863 square feet. The portfolio, which has an average building size of 77,000 square feet, was 99 percent leased to 32 tenants at the time of sale. The seller and sales price were not disclosed.
CORAL GABLES, FLA. — A joint venture between Torose Equities, LNDMRK Development and Terranova Corp. has acquired 255 Alhambra, a 220,000-square-foot office building located in downtown Coral Gables. Situated on 1.3 acres on Alhambra Circle, the property features floor-to-ceiling windows and a newly renovated lobby. An affiliate of Deutsche Bank/RREEF sold the building. The sales price was not disclosed, but South Florida Business Journal reported that the property traded for more than $50 million. The partnership plans to execute a business plan including leasing up the existing vacancies and upgrading amenities at the property. 255 Alhambra was built in 1974 and renovated in 1993, according to LoopNet Inc.
GEORGETOWN, TEXAS — Northmarq has arranged the sale of a 10,556-square-foot retail property in the northern Austin suburb of Georgetown that is leased to Dollar General. The newly constructed building sits on a 1.3-acre site just off I-35. The buyer and seller both requested anonymity. Jack Collins of Northmarq brokered the deal, which traded at a cap rate of 5.25 percent.
CORONA, CALIF. — Berkadia Institutional Solutions has brokered the sale of Hills of Corona, a garden-style multifamily community in Corona. A private Los Angeles-based investor acquired the asset for an undisclosed price. Located at 2365 S. Promenade Ave., Hills of Corona features 248 one- and two-bedroom floor plans with walk-in closets, dishwashers, private balconies or patios and in-unit washers/dryers. Community amenities include a clubhouse, fitness center, two swimming pools, a business center and spa. Derrk Ostrzyzek, Rachel Parsons and Tom Moran Jr. of the Southern California Berkadia Institutional Solutions team handled the transaction. The name of the seller was not released.
WALNUT CREEK, CALIF. — Newmark has completed the sale of Midtown Plaza, an urban retail center in the Bay Area city of Walnut Creek. The asset traded for an undisclosed amount. Nicholas Bicardo, Rick Steffens and Cheyne Bloch of Newmark represented the undisclosed seller, while L&B Realty Advisors represented the buyer, an institutional client. The 24,867-square-foot property is located at 1410-1444 N. California Blvd. and 1620-1630 Cypress St. and includes a surface parking lot. At the time of sale, the shopping center was 100 percent leased to a variety of food, home improvement and service retail tenants, including Galpao Gaucho Brazilian Steakhouse and Premier Bath & Kitchen.
CINCINNATI — Blueprint Healthcare Real Estate Advisors has arranged the sale of St. Theresa Care Center in Cincinnati for an undisclosed price. A public REIT elected to execute the strategic sale of the facility following an operator transition earlier this year. St. Theresa Care Center is licensed for 92 assisted living beds and 99 skilled nursing beds. Designated as a National Historic Landmark, the property was originally built as an acute care hospital in the mid-1920s and was later expanded in the late 1950s. The building was ultimately converted to its current use, also featuring units available for independent living residents. However, the independent living and assisted living floors were most recently underutilized. The buyer was an owner-operator with a growing presence in the area. The facility has been renamed The Mariemont Care Center. Michael Segal, Connor Doherty, Ben Firestone and Ryan Kelly of Blueprint brokered the sale.
GLASSPORT, PA. — Michigan-based brokerage firm Friedman Real Estate has negotiated the sale of a 14,560-square-foot, single-tenant retail building in Glassport, a southern suburb of Pittsburgh. Rite Aid occupies the building, which is located at 210 Ninth St. Steven Silverman and Ryan Wilner of Friedman Real Estate represented the seller in the transaction. Additional terms of sale were not disclosed.
LONG BEACH, CALIF. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Brittany House Memory Care Center in Long Beach, just south of Los Angeles. The seller is a San Diego-based developer and operator looking to focus its resources on a newly developed portfolio of communities throughout Orange and San Diego counties. The buyer is a Los Angeles-based high-net-worth family. The price was not disclosed. The buyer plans to convert the memory care community into an affordable housing property using the Assisted Living Waiver program in California. The Blueprint team included Jacob Gehl and Scott Frazier.
NORTH LIBERTY, IND. — Marcus & Millichap has brokered the $2.1 million sale of The Vues at North Liberty, a 20-unit apartment building in North Liberty, a city in Northwest Indiana. Jack Stanton, Quentin Benedetto and Kyle Stengle of Marcus & Millichap represented the seller, a national real estate investment and development firm. The property sold to a 1031 exchange buyer that recently sold an industrial building with the intent of transitioning into the multifamily sector. The sale marked the highest price per unit for a multifamily closing within a 50-mile radius of the subject property, according to Marcus & Millichap.