Acquisitions

JLL Brokers $258M Sale of Two Abberly-Branded Apartment Communities in Decatur, Georgia

by Jeff Shaw October 28, 2022

DECATUR, GA. — JLL Capital Markets has brokered the $258 million sale of two five-story, wrap-style apartment communities located in the northeast Atlanta suburb of Decatur. Development and management company HHHunt acquired Abberly Skye for $163 million and Abberly Onyx for $95 million. Northwood Ravin was the seller for both transactions. The two communities are located on the same block around a newly built shopping center anchored by a Sprouts Farmers Market and across the street from a recently renovated shopping center anchored by a Walmart Supercenter. Both properties are approximately seven miles from Midtown Atlanta. Abberly Skye was developed in 2020. The community offers 450 studio, one-, two- and three-bedroom units. Individual units include walk-in showers, glass-front kitchen cabinets, quartz countertops in kitchens and bathrooms, stainless steel appliances and balconies with walk-up patio options. Community amenities at Abberly Skye include a golf simulator, swimming pool, sauna, business center, podcasting room, fitness areas, TV lounge and gaming courtyard. Abberly Onyx was developed in 2017 and comprises 250 units. The building offers studio, one-, two- and three-bedroom floor plans, as well as community amenities such as a rooftop swimming pool, sauna, climbing gym, two-story outdoor lounge, indoor and outdoor game areas, …

October 28, 2022

Building-D-North-Central-Logistics-Phoenix-AZ

Acquisitions Arizona Industrial Western

Westcore Acquires Four-Building Central Logistics Industrial Campus in Phoenix for $93.5M

by Amy Works October 27, 2022

PHOENIX — Westcore has purchased Central Logistics, a four-building industrial campus located in the Central Phoenix market of Arizona. Phoenix-based ViaWest Group sold the asset for $93.5 million. Situated on 24.9 acres, Central Logistics offers a total of 1.1 million square feet of industrial space spread across four buildings with 32-foot clear heights. Currently leased to Bay Logistics, the 76,189-square-foot cold storage facility Building D North offers 13 dock-high doors and one grade-level door. Waymo occupies the 72,349-square-foot Building D South, which features 10 dock-high doors, one grade-level door and ESFR sprinklers. Ferguson occupies the 94,612-square-foot Building E, which offers a four-acre, fully secure concrete yard, two grade-level doors, 12 dock-high doors and ESFR sprinklers. Westcore plans to renovate the 165,518-square-foot Building B, which is currently vacant. John Werstler, Cooper Fratt, Tanner Ferrandi and Connie Nelson of CBRE will market the property for lease.

October 27, 2022

Acquisitions Arizona Multifamily Seniors Housing Western

Cushman & Wakefield Negotiates Sale of 188-Unit Bella Vista Seniors Housing Property in Mesa, Arizona

by Amy Works October 27, 2022

MESA, ARIZ. — Cushman & Wakefield has arranged the sale of Bella Vista, a 188-unit independent living and assisted living community in Mesa. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Sam Dylag and Jack Griffin represented the sellers, a joint venture between Wexford Real Estate Investors and Beztak Cos., in the transaction. Bourne Financial Group, a private equity buyer based in Winter Park, Florida, acquired the asset and will self-manage this community with its in-house operator, Park Avenue Lifestyle. The price was not disclosed. The property was originally constructed in 1978 and underwent significant renovations from 2013 to 2017.

October 27, 2022

Uptown Terrace in Denver features 34 apartments. (Photo credit: Mediamax Inc.)

Acquisitions Colorado Multifamily Western

Cohen Rojas Capital Sells Uptown Terrace Apartment Community Denver for $8.4M

by Amy Works October 27, 2022

DENVER — Cohen Rojas Capital Partners has completed the disposition of Uptown Terrace, a multifamily property located in Denver’s Uptown neighborhood. Quantum Capital, using out-of-state exchange funds from a Florida-based trust, acquired the asset for $8.4 million. Erik Toll, Andy Hellman, Justin Hunt, Brad Schlafer and Jessica Graham of CBRE’s multifamily investment properties team in Denver represented the seller in the deal. Located at 230-240 E. 19th Ave., Uptown Terrace features 34 one-bedroom, 515-square-foot apartments spread across two two-story buildings. Originally constructed in 1927, the property underwent recent renovations, including new paint, landscaping and signage, and an upgrade of the gated courtyard area to add an outdoor kitchen and patio.

October 27, 2022

Acquisitions Oregon Retail Western

Norris & Stevens Brokers $6M Acquisition of Heritage Mall Outparcel in Albany, Oregon

by Amy Works October 27, 2022

ALBANY, ORE. — Portland-based Norris & Stevens has arranged the purchase of the Heritage Mall outparcel located at 1811 14th Ave. SE in Albany. Perseverance LLC acquired the asset for $6 million. Constructed in 1989, the 20,074-square-foot retail building sits along Southeast Geary Street and features 118 parking spaces. Todd VanDomelen of Norris & Stevens represented the buyer, while Kevin Adalto and Lance Suster of CPX represented the seller in transaction.

October 27, 2022

Acquisitions Multifamily Texas

Venterra Realty Acquires 216-Unit Apartment Community in Duncanville, Texas

by Taylor Williams October 27, 2022

DUNCANVILLE, TEXAS — Houston-based investment firm Venterra Realty has acquired Bella Ruscello, a 216-unit apartment community in Duncanville, a southern suburb of Dallas. Built in 2007, the property features one- and two-bedroom units ranging in size from 655 to 1,074 square feet. Amenities include a pool, fitness center, community room with a theater and a paved walking trail. The seller was not disclosed. Venterra plans to implement a value-add program.

October 27, 2022

Acquisitions Industrial Texas

Henry S. Miller Arranges Sale of 32,886 SF Warehouse in Northwest Houston

by Taylor Williams October 27, 2022

HOUSTON — Dallas-based Henry S. Miller Brokerage (HSM) has arranged the sale of a 32,886-square-foot warehouse in northwest Houston. According to LoopNet Inc., the property at 3724 Dacoma St. was built in 1976. Bill Bledsoe of HSM represented the buyer, an affiliate of Grubbs Volvo Cars Central Houston, in the transaction. Heath Donica and Jack Rathe of Stream Realty Partners represented the seller, an entity doing business as 3724 Dacoma Partners Ltd. The buyer will use the property to facilitate its expansion.

October 27, 2022

Acquisitions Colorado Georgia Maryland Self-Storage Southeast Tennessee Virginia

Ziff Purchases Six Self-Storage Properties in Southeast, Colorado Totaling 2,750 Units

by John Nelson October 27, 2022

MOUNT PLEASANT, S.C. — Ziff Real Estate Partners has purchased six self-storage properties in the Southeast and Colorado totaling 2,750 climate- and non-climate-controlled units, including boat and RV rental spaces. The Mount Pleasant-based investor purchased the assets for an undisclosed price via its ZRP Storage Opportunity Fund. The assets in the portfolio include four existing properties: Morristown Self Storage in Morristown, Tenn.; J&S Self Storage in Fountain, Colo.; Mocks Hwy 20 Self Storage in Cumming, Ga.; and Atlas Business Center in Gainesville, Ga. The portfolio also includes two buildings in Roanoke, Va., and Waldorf, Md., that were acquired for conversion to self-storage properties branded under the StoreEase flag. Combined the six assets span 340,000 net rentable square feet. The sellers were not disclosed.

October 27, 2022

Acquisitions Multifamily North Carolina Southeast Student Housing

Preiss Acquires 928-Bed Student Housing Community Near NC State in Raleigh, Plans $10M Renovation

by John Nelson October 27, 2022

RALEIGH, N.C. — The Preiss Co. has acquired Valentine Commons, a 928-bed student housing property located near the North Carolina State University (NC State) campus in Raleigh. Located steps away from campus at 3009 ME Valentine Drive, the property features an 11-story building offering 277 fully furnished units in two-, three- and four-bedroom configurations. Shared amenities include a swimming pool, rooftop terrace, private study rooms on every floor, a business center, aerobics room, fitness center, game room and a private parking garage. The seller and sales price were not disclosed, but Ben Roelke and Ian Walker of Newmark secured $77.3 million in financing for the acquisition through an unnamed life company lender. The five-year loan features full-term, interest-only payments. Preiss Co. is planning a $10 million capital improvement plan for Valentine Commons, the construction timeline of which was not disclosed.

October 27, 2022

Acquisitions Northeast Office Pennsylvania

Equus Capital Partners Sells 150,466 SF Office Campus in Metro Philadelphia

by Taylor Williams October 27, 2022

KING OF PRUSSIA, PA. — Locally based investment firm Equus Capital Partners has sold a 150,466-square-foot office campus in King of Prussia, located north of Philadelphia. Built in 1978, the two-building complex was 95 percent leased at the time of sale. Brett Grifo and Keith Braccia of Cushman & Wakefield represented Equus, which acquired the property in 2018 and invested roughly $5 million in capital improvements, in the transaction. The buyer and sales price were not disclosed.

October 27, 2022

Newer Posts

Older Posts