Acquisitions

IPA Negotiates Sale of 256-Unit Woodlands Apartments in Tyler, Texas

by Taylor Williams April 30, 2025

TYLER, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Woodlands, a 256-unit apartment complex located in the East Texas city of Tyler. Built in 1984, the property offers one- and two-bedroom units and amenities such as fitness and business centers, a pool and package lockers. Taylor Hill, William Hubbard, Drew Kile, Joey Tumminello and Michael Ware of IPA represented the seller, BH Equities, in the transaction and procured the buyer, Clover Capital Partners. Brian Eisendrath, Cameron Chalfant and Harry Krieger of IPA Capital Markets originated an undisclosed amount of agency acquisition financing for the deal that was structured with a seven-year term and fixed interest rate.

April 30, 2025

Acquisitions Office Texas

BH Properties Acquires 205,293 SF Office Complex in Southwest Austin

by Taylor Williams April 30, 2025

AUSTIN, TEXAS — California-based investment firm BH Properties has purchased The Park on Barton Creek, a 205,293-square-foot office complex in southwest Austin. Built in 2007, The Park on Barton Creek consists of two buildings on a 16.5-acre site with separate 426-space parking structures. The property recently underwent a $1.3 million capital improvement program that enhanced the lobby and added both a tenant lounge and conference center. Ryan Stevens and Drew Fuller of JLL brokered the sale of the property. The seller was not disclosed.

April 30, 2025

Acquisitions Multifamily New Jersey Northeast

Tishman Speyer Buys Northern New Jersey Apartment Building for $96.1M

by Taylor Williams April 30, 2025

MONTCLAIR, N.J. — New York City-based real estate giant Tishman Speyer has purchased Two South Willow, a 200-unit apartment building located in the Northern New Jersey community of Montclair, for $96.1 million. Completed in 2021, Two South Willow consists of 180 market-rate units and 20 affordable housing units in studio, one- and two-bedroom floor plans. Amenities include a fitness center, roof deck, resident lounge, interior courtyard and barbecue grills. Tishman Speyer plans to undertake a series of targeted enhancements to the lounge, roof deck, common areas and mechanical systems, as well as to re-orient the lobby and add a coworking lounge and pet washing station. Jeffrey Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer of CBRE represented the undisclosed seller in the transaction.

April 30, 2025

Acquisitions Multifamily New Jersey Northeast

Tower Management Acquires 215-Unit Apartment Building in North Bergen, New Jersey

by Taylor Williams April 30, 2025

NORTH BERGEN, N.J. — Regional investment firm Tower Management has acquired Hudson Ridge, a 215-unit apartment building located outside of Manhattan in North Bergen. Built in 1949, the property offers a mix of studio, one- and two-bedroom units, as well as outdoor picnic areas and garage parking. Thomas Didio, Thomas Didio Jr., Gerard Quinn and Michael Mataras of JLL provided a $24.2 million Freddie Mac fixed-rate acquisition loan to Tower Management for the deal. The seller and sales price were not disclosed.

April 30, 2025

Acquisitions Connecticut Multifamily Northeast

Chozick Realty Negotiates $4.1M Sale of Webb Manor Apartments in Hartford

by Taylor Williams April 30, 2025

HARTFORD, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $4.1 million sale of Webb Manor Apartments, a 43-unit multifamily complex in Hartford. Constructed in 1951 and recently renovated, Webb Manor offers studio, one-, two- and three-bedroom units. Recent capital improvements include a new elevator, a fully repaved parking lot and comprehensive upgrades of unit interiors. Steve Pappas and Tess Cullen of Chozick Realty brokered the deal. The buyer and seller were not disclosed.

April 30, 2025

Acquisitions Retail Southeast Tennessee

Halpern Enterprises Acquires 166,035 SF Shopping Center in Knoxville, Tennessee

by John Nelson April 30, 2025

KNOXVILLE, TENN. — Atlanta-based Halpern Enterprises Inc. has acquired Harvest Park Centre, a 166,035-square-foot shopping center located at 5439 Washington Pike in Knoxville. Built in 2007 on the city’s east side, the center’s tenant roster includes Ross Dress for Less, Five Below, Marshalls, Old Navy, Ulta Beauty, Bath & Body Works, AT&T, Sports Clips and Sally Beauty Supply. Target shadow-anchors Harvest Park Centre, which is the second acquisition in Tennessee for Halpern Enterprises. The seller and sales price were not disclosed.

April 30, 2025

Acquisitions Civic District of Columbia Office Southeast

Easterly Government Properties Purchases 289,873 SF Civic Office Building in D.C.

by John Nelson April 30, 2025

WASHINGTON, D.C. — Easterly Government Properties Inc. has purchased a 289,873-square-foot civic office building in northeast Washington, D.C. The address, seller and sales price were not disclosed. The property was 98 percent leased at the time of sale to tenants including the District of Columbia Government, which recently extended its 237,118-square-foot lease at the building through 2038 with the option to renew for an additional five years. The District’s government agencies operating within the facility include the District of Columbia Public Schools and the Department of Energy & Environment, both of which have occupied the building since 2009. Other tenants include the U.S. federal government, which occupies 26,327 square feet under the General Services Administration (GSA) banner, and private tenants, which occupy 20,299 square feet. The civic building has a weighted average remaining lease term (WALT) of 11.6 years.

April 30, 2025

Acquisitions Arizona Industrial Western

ATLAS Capital Sells Infill Parcel to City of Phoenix for $29.6M

by Amy Works April 30, 2025

PHOENIX — Scottsdale, Ariz.-based ATLAS Capital Partners has completed the disposition of an infill parcel to the City of Phoenix for $29.6 million. The city has earmarked the land for revitalization as part of its regional Rio Reimagined initiative and the RIO PHX plan, which will promote 20 miles along the Rio Salado/Salt River corridor as a local and regional destination. Located at 3030 S. 7th St., the 29.4-acre site is currently occupied by a 42,469-square-foot industrial building with tenancy through 2028. The site is situated within an Opportunity Zone, less than two miles from Sky Harbor International Airport, minutes from downtown Phoenix and interstates 10 and 17. ATLAS partnered with OakPoint Real Estate, a vertically integrated real estate investment firm, on the transaction. Will Strong, Phil Haenel and Foster Bundy of Cushman & Wakefield’s Capital Markets Group represented ATLAS in the deal.

April 30, 2025

Acquisitions Arizona Multifamily Western

IPA Negotiates $25.5M Sale of 208-Unit Monte Vista Multifamily Property in Glendale, Arizona

by Amy Works April 30, 2025

GLENDALE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Monte Vista, an apartment community in Glendale. A workforce and affordable housing fund acquired the asset from a private seller for $25.5 million, or $122,596 per unit. Built in 1985, Monte Vista features 208 apartments, a swimming pool, laundry facility and covered parking. Apartments offer washer/dryer connections, dishwashers and walk-in closets. The average unit size is 787 square feet. Cliff David and Steve Gebing of IPA, along with Darrell Moffitt of Marcus & Millichap, represented the seller and procured the buyer in the transaction.

April 30, 2025

Acquisitions California Industrial Western

Voit Real Estate Services Brokers $13.2M Sale of Industrial Building in Santa Ana, California

by Amy Works April 30, 2025

SANTA ANA, CALIF. — Voit Real Estate Services has arranged the sale of an industrial building located at 2249 S. Yale St. in Santa Ana. Stage Stop 8 LLC sold the asset to Daytona Holding LLC, a locally owned manufacturing company, for $13.2 million. The buyer will use the 49,506-square-foot property as an auxiliary facility for its Southern California operations. Michael Hefner and Mike Vernick of Voit Real Estate Services represented the seller and buyer in the transaction.

April 30, 2025

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