DANBURY AND NORWALK, CONN. — CBRE has brokered the $39.7 million sale of a portfolio of two affordable seniors housing properties totaling 169 units in Connecticut. Residences at both the 116-unit Kimberly Place in Danbury and the 53-unit One Leonard in Norwalk are reserved for renters age 62 and above. Simon Butler, Biria St. John, Jeff Dunne, Eric Apfel, Tim Flint and Taylor Froland of CBRE represented the seller, an affiliate of First Atlantic LLC, in the transaction and procured the buyer, an affiliate of Heritage Housing Inc.
NORTH PORT, FLA. — Marcus & Millichap has brokered the $10.8 million sale of North Port Village, a 66,083-square-foot neighborhood retail center located at 14255 S. Tamiami Trail in North Port, roughly 35 miles south of Sarasota, Fla. Planet Fitness anchors the property, which was fully leased at the time of sale. Additional tenants include Humana, NAPA Auto Parts and Do The Beach adventure park. North Port Village was originally built in 1989 on nearly 11 acres. Clayton Brown, Luke Holsinger and Ruthanne Loar of Marcus & Millichap’s Seattle office procured the buyer, a Seattle-based private investor, in the transaction. Drew Kristol and Kirk Olson, also with Marcus & Millichap, represented the seller, a South Florida-based real estate investment firm.
HANAHAN, S.C. — Charlotte-based real estate investment firms Port Commercial and Cedar Square have acquired 916 Commerce Circle, an 80,000-square-foot industrial facility in Hanahan, approximately eight miles outside North Charleston. Lee Allen, Kevin Coats and Tyler Smith of JLL will lead leasing efforts on behalf of the new ownership. The seller and sales price were not disclosed. The rail-served property spans 4.1 acres and features a fully air-conditioned industrial building with 1,600 square feet of office space, eight dock positions with levelers, three 14-foot drive-in doors, epoxy flooring, LED lighting and outdoor storage capabilities. 916 Commerce Circle also provides access to the Wando Welch, Hugh K. Leatherman and North Charleston port terminals in greater Charleston. Port Commercial and Cedar Square plan to launch a capital improvement program for the property that includes refreshed office interiors, new exterior painting, dock upgrades and parking lot resealing.
SACRAMENTO — Demmon Partners has completed the sale of The Falls at Arden, an apartment property located at 2345 Northrop Ave. in Sacramento. Jackson Square Properties, a locally based multifamily real estate investment company, acquired the asset for $54.6 million. Built in 1986, The Falls at Arden features 272 studio, one- and two-bedroom floor plans averaging 679 square feet. Ninety percent of the units have been renovated with luxury vinyl plank flooring, quartz countertops, stainless steel appliances and new cabinets. Community amenities include a pool with deck and spa, fitness center and a fully renovated clubhouse with a demonstration kitchen, game room and movie theater. Demmon Partners also added an outdoor fireplace, parcel locker room, secure indoor mail room, a pet spa and a bike storage room to the community amenities. At the time of sale, the property was 97 percent leased. Marc Ross, Joe McNamara and Claire Holt of CBRE represented the seller in the deal. Ryan Greer and Trevor Breaux of CBRE arranged acquisition financing on behalf of the buyer.
BELLINGHAM, WASH. — HB Management has acquired Barkley Apartment Homes, a multifamily community in the Barkley neighborhood of Bellingham, from CEP Multifamily for $47.9 million, or $237,129 per unit. Ryan Harmon, Giovanni Napoli, Philip Assouad, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA), a division of Marcus & Millichap, procured the local buyer in the transaction. Built between 2001 and 2003, the 202-unit property features 17 residential buildings, a central leasing office, clubhouse, fitness center and a seasonal outdoor pool and spa. The one-, two- and three-bedroom floor plans offer washers/dryers, private decks or patios and storage space.
FREMONT, CALIF. — The Levin Johnston team of Marcus & Millichap has arranged the sale of an Extra Space Storage property totaling 49,922 square feet in Fremont. A private real estate investor sold the self-storage facility to an institutional self-storage developer, operator and manager for $18.8 million. Located at 38491 Fremont Blvd., Extra Space Storage offers 568 units, most with drive-up access, controlled access gated entry and 24-hour closed circuit surveillance. The Levin Johnston team represented the seller and procured the buyer in the deal.
CERRITOS, CALIF. — CBRE and Colliers have arranged the $10.1 million sale of an office building located at 12898 Towne Center in Cerritos. CBRE’s Mark Shaffer, Sean Sullivan, Grant Goldman, Mike Longo and Melissa Moock, along with Todd Tydlaska of Colliers, advised the receiver, Ryan C. Baker of Verax Business Group, in the transaction. CBRE’s Tom Sheets represented the undisclosed buyer in the deal. Situated on 4.6 acres, the two-story building offers 80,821 square feet of office space. Built in 1993 as part of the three-phase Cerritos Towne Center, the building features large, efficient floor plates, a modern design and convenient access to Interstate 605 and State Route 91. SCAN Health Plan will occupy the property.
TUCSON, ARIZ. — Geronimo Casitas LLC has acquired Geronimo Casitas, a multifamily property in Tucson, from The Ramy Muaddi and Cecilia Muaddi Revocable Trust for $1.4 million. Located at 2514 N. Geronimo Ave., the 8,422-square-foot Geronimo Casitas features 19 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented both parties in the transaction.
LAKE ELMO, MINN. AND LAKEWOOD, OHIO — New Perspective has acquired three senior living communities in metro Twin Cities and Cleveland areas. The properties include New Perspective Lake Elmo, The Fields by New Perspective — a neighboring independent living community — and Haven of Lakewood. New Perspective Lake Elmo offers assisted living and memory care. Haven of Lakewood, which offers assisted living, grows New Perspective’s portfolio to five locations in Ohio.
CAROL STREAM, ILL. — JLL Capital Markets has brokered the sale of Renaissance at Carol Stream, a 293-unit apartment community in the western Chicago suburb of Carol Stream in DuPage County. Built in 1970, the property features a pool, full-size indoor basketball court and fitness center. There are 17 buildings, and units average 883 square feet. Current ownership has renovated 129 units. Kevin Girard, Mark Stern and Zach Kaufman of JLL represented the seller, Chicago-based Bender Cos. The buyer was Highlands Vista Group.