Acquisitions

Northmarq Brokers Sale of 150-Unit Multifamily Property in North Dallas

by Taylor Williams May 3, 2023

DALLAS — Northmarq has brokered the sale of Wyndham on the Creek, a 150-unit multifamily property in North Dallas. Built in 1984, the property offers one- and two-bedroom units that range in size from 603 to 1,100 square feet and are furnished with washer and dryer hookups, granite countertops and private balconies/patios. The amenity package comprises a pool, clubhouse, business center and onsite laundry facilities. Taylor Snoddy, Eric Stockley, Charles Hubbard and Philip Wiegand of Northmarq brokered the deal. The buyer was a partnership between two Dallas-based firms, Realty Capital Partners and Windmass Capital. The seller were not disclosed.

May 3, 2023

Acquisitions New Jersey Northeast Retail

Astoria Realty Corp. Sells Northern New Jersey Retail Strip Center for $6.2M

by Taylor Williams May 3, 2023

TEANECK, N.J. — Astoria Realty Corp. has sold a 20,413-square-foot retail strip center located in the Northern New Jersey community of Teaneck for $6.2 million. The property at 1374-1400 Queen Anne Road was originally built in 1930 and renovated earlier this year. Glatt’s Express Supermarket serves as the anchor of the center, which was 93 percent leased at the time of sale. Karly Iacono of CBRE represented Astoria Realty Corp. in the transaction. The buyer was not disclosed.

May 3, 2023

Acquisitions Multifamily New York Northeast

Ariel Property Advisors Negotiates $4.7M Sale of Brooklyn Multifamily Building

by Taylor Williams May 3, 2023

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $4.7 million sale of a nine-unit multifamily building in Brooklyn’s Heights neighborhood. The building houses eight one-bedroom units and one two-bedroom unit. Sean Kelly, Stephen Vorvolakos, Nicole Daniggelis and Julian Montilus of Ariel represented the undisclosed seller in the transaction. The buyer, which was also undisclosed, acquired the property vacant and plans to convert it into for-sale condominiums.

May 3, 2023

Acquisitions Industrial Texas

Partners Real Estate Arranges Sale of 60,680 SF Industrial Property in Pasadena, Texas

by Taylor Williams May 2, 2023

PASADENA, TEXAS — Locally based brokerage firm Partners Real Estate has arranged the sale of a 60,680-square-foot industrial property in the eastern Houston suburb of Pasadena. The multi-tenant facility sits on a 10.6-acre site at 3321-3411 Westside Drive. According to LoopNet Inc., the building rises two stories, was constructed in 1973 and has four drive-in doors. Clay Pritchett and Zane Carman of Partners represented the buyer, Grace Heritage Properties, in the transaction. The seller was also not disclosed.

May 2, 2023

Acquisitions Multifamily Northeast Pennsylvania

Waterton Acquires 230-Unit Apartment Community in Glen Mills, Pennsylvania

by Taylor Williams May 2, 2023

GLEN MILLS, PA. — Chicago-based investment firm Waterton has acquired The Point at Glen Mills, a 230-unit apartment community located on the western outskirts of Philadelphia. Built in 2016, the property comprises five four-story buildings on a 13.6-acre site. Units come in one- and two-bedroom floor plans, and amenities include a fitness center, leasing office, conference facility and a catering kitchen. Waterton plans to implement a value-add program and rebrand the property as Heights at Glen Mills. The seller and sales price were not disclosed.

May 2, 2023

Acquisitions Massachusetts Multifamily Northeast Seniors Housing

Cushman & Wakefield Brokers Sale of 91-Unit Seniors Housing Property in Stoughton, Massachusetts

by Taylor Williams May 2, 2023

STOUGHTON, MASS. — Cushman & Wakefield has brokered the sale of the Arbors of Stoughton, a 91-unit assisted living and memory care community in Stoughton, about 20 miles south of Boston. The three-story facility opened in 2009. Richard Swartz, Jay Wagner and Jim Dooley of Cushman & Wakefield represented the seller, a partnership between The Gralia Group and an undisclosed institutional investor, in the transaction. A partnership between KIRCO and Everbrook Senior Living acquired the property. Cushman & Wakefield also arranged the acquisition financing through Comerica Bank on behalf of the borrower.

May 2, 2023

Acquisitions Florida Retail Southeast

Benderson Acquires 128,399 SF Bee Ridge Square Shopping Center in Sarasota, Florida

by John Nelson May 2, 2023

SARASOTA, FLA. — Benderson Development has acquired Bee Ridge Square, a 128,399-square-foot shopping center in Sarasota. Burlington anchors the center, which houses 15 tenants, including Stage Door Studios, ofKors Bakery and EGGSTraordinary Café. Burlington recently downsized its footprint at the center, which it has anchored since 2001. Bee Ridge Square is located off exit 207 of I-75 at the intersection of Bee Ridge and Cattlemen roads. Justin Smith, Chris Peterson, Fred Victor and Sam Koonce of Atlantic Capital Partners represented the seller and procured the buyer in the transaction. The seller and sales price were not disclosed.

May 2, 2023

Acquisitions Industrial Nevada Western

BKM, TerraCore Capital Buy Decatur Business Center in Las Vegas for $25.9M

by Jeff Shaw May 2, 2023

LAS VEGAS — A joint venture between BKM and TerraCore Capital has acquired Decatur Business Center, an 88,205-square-foot light industrial building in Las Vegas, for $25.9 million. The building is located at 5475 S. Decatur Blvd. It features warehouse, office and showroom space in a two-story, concrete tilt-up facility. Decatur Business Center is fully leased to five high-credit tenants across a range of industries. The sellers were Terry York Properties and Heller Cos. BKM represented itself in the off-market transaction.

May 2, 2023

Acquisitions California Retail Western

Wood Investments Sells 4,000 SF Retail Building in Beaumont, California for $3.2M

by Jeff Shaw May 2, 2023

BEAUMONT, CALIF. — Wood Investments Cos. has sold a 4,000-square-foot, single-tenant retail pad building in the Inland Empire city of Beaumont. The company recently developed the property, which Sherwin Williams occupies on a net-lease basis. Lee Csenar and Ed Hanley of Hanley Investment Group Real Estate Advisors represented the seller in the $3.2 million transaction. Howard Rosenthal and Guy Excell of Rosenthal & Excell Commercial Real Estate represented the Hemet-based buyer. The retail pad is located adjacent to San Gorgonio Village, a 78,000-square-foot shopping center that Wood Investments developed and owns.

May 2, 2023

Acquisitions Midwest Missouri Multifamily

Cushman & Wakefield Brokers Sale of 480-Unit Oxford Hills Apartment Community in St. Louis

by Kristin Harlow May 2, 2023

ST. LOUIS — Cushman & Wakefield has brokered the sale of Oxford Hills, a 480-unit apartment community in St. Louis. The sales price was undisclosed. Located at 10304 Oxford Hills Drive, the property features amenities such as a pool, fitness center, dog park, clubhouse, playground, tennis courts and recreational areas. Matt Stephens, Hannah Ott and George Tikijian of Cushman & Wakefield represented the seller, Harbor Group International. FPA Multifamily was the buyer.

May 2, 2023

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