Acquisitions

Fogelman, Thackeray Acquire 258-Unit Multifamily Property in Humble, Texas

by Taylor Williams April 4, 2025

HUMBLE, TEXAS — A joint venture between Memphis-based investment firm Fogelman Properties and Dallas-based Thackeray Partners has acquired Advenir at Eagle Creek, a 258-unit multifamily property located in the northern Houston suburb of Humble. Built in 2008, the property offers one-, two- and three-bedroom apartments. Amenities include a pool, game room, clubhouse, fitness center and a dog park. The property was 91 percent occupied at the time of sale. The new ownership plans to upgrade unit interiors, amenity areas and landscaping and has rebranded the property as The Fenwick. The seller and sales price were not disclosed.

April 4, 2025

Acquisitions Healthcare Texas

Flagship Healthcare Properties Buys 17,724 SF Medical Facility in Grapevine, Texas

by Taylor Williams April 4, 2025

GRAPEVINE, TEXAS — Charlotte-based investment firm Flagship Healthcare Properties has purchased a 17,724-square-foot medical facility in Grapevine, located in the northern-central part of the metroplex. The building at 2201 Westgate Plaza was built in 2010 and houses clinical office space and a surgery center with eight exam rooms and two operating rooms. The facility was fully leased at the time of sale. The seller and sales price were not disclosed.

April 4, 2025

Acquisitions Loans Multifamily New York Northeast

JLL Arranges $68.5M Sale, Financing of Brooklyn Apartment Building

by Taylor Williams April 4, 2025

NEW YORK CITY — JLL has brokered the $68.5 million sale of a 105-unit apartment building located at 237 11th St. in the Gowanus neighborhood of Brooklyn. Completed in 2017, the 12-story building predominantly houses studio, one- and two-bedroom units, with private balconies/terraces available in select residences. Amenities include a library, fitness center, courtyard and a rooftop deck, and the building also houses 6,264 square feet of commercial space that is fully leased. Jeffrey Julien, Rob Hinckley and Steven Rutman of JLL represented the seller, Trinity Place Holdings, in the transaction and procured the buyer, a partnership between Bluestone Investments and Shel Capital. Michael Shmuely, Michael Zaremski, Robert Tonnessen and John Flynn of JLL arranged $44.5 million in acquisition financing for the deal.

April 4, 2025

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $22.1M Sale of Multifamily Property in Summit, New Jersey

by Taylor Williams April 4, 2025

SUMMIT, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $22.1 million sale of The Parc at Summit, a 57-unit multifamily property in Northern New Jersey. The five-building complex was constructed on a 3.3-acre site in 1950 and offers one- and two-bedroom apartments, as well as three-bedroom townhomes. Robert Holland and Jeff Squires of Kislak represented the seller, which recently invested $1.5 million in capital improvements to the property, in the transaction. Joni Sweetwood, also with Kislak, procured the buyer. Both parties requested anonymity.

April 4, 2025

Acquisitions California Multifamily Western

FAMH Group Acquires The BW Apartment Property in Los Angeles for $58.1M

by Amy Works April 4, 2025

LOS ANGELES — FAMH Group Ltd. has acquired The BW, a multifamily property located in the Brentwood neighborhood of Los Angeles, from California Landmark Group for $58.1 million, or $744,872 per unit. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction. Completed in 2013, The BW features 78 studio, one-, two- and three-bedroom units with stainless steel appliances, washers/dryers, deep soaking tubs, walk-in closets and floor-to-ceiling double-pane windows. The property also offers 2,300 square feet of ground-floor retail space, a rooftop lounge with Jacuzzi, a fitness center, business center, electric vehicle charging stations and onsite garage parking.

April 4, 2025

Acquisitions Arizona Development Industrial Western

ATLAS Capital Partners, Hawkins Development Buy 38 Acres in Mesa, Arizona for Industrial Project

by Amy Works April 4, 2025

MESA, ARIZ. — ATLAS Capital Partners, along with development partner Hawkins Development Co., has acquired 38 acres in Mesa for $13.8 million. The partnership plans to develop ATLAS Exchange, a four-building Class A industrial project, on the site at 4140 S. Signal Butte Road. ATLAS Exchange’s buildings will range from 40,000 square feet to 100,000 square feet. Design plans include an amenity-rich environment with shaded ramadas and pickleball courts. Construction is slated to begin in third-quarter 2025. Early lease negotiations are underway at ATLAS Exchange. Pat Harlan and Steve Larsen of JLL are handling leasing for the project. The JLL team also represented ATLAS and the seller, Brookfield Properties, in the sale transaction.

April 4, 2025

Acquisitions Hospitality New Mexico Western

Marcus & Millichap Brokers Sale of 101-Room Sleep Inn Albuquerque Airport Hotel in New Mexico

by Amy Works April 4, 2025

ALBUQUERQUE, N.M. — Marcus & Millichap has arranged the sale of Sleep Inn Albuquerque Airport, a hotel at 2300 International Ave. in Albuquerque. The 101-room hotel was built in 1996. The fully stabilized turn-key hotel has no Property Improvement Plan (PIP) required and double-digit year-round market RevPAR growth. John Casler and Josh Tammen of Marcus & Millichap represented the seller, while Tammen also represented the buyer in the transaction. Terms of the transaction were not released.

April 4, 2025

Acquisitions California Multifamily Western

LaTerra Development Sells 28-Unit Charlie La Mirada Multifamily Building in La Mirada, California

by Amy Works April 4, 2025

LA MIRADA, CALIF. — Marina Del Rey, Calif.-based LaTerra Development has completed the disposition of The Charlie La Mirada, an apartment building in La Mirada. Dunbar Real Estate Investment Management acquired the asset for $11.1 million. Developed by LaTerra Development in 2021, The Charlie La Mirada offers 28 apartments. LaTerra built the asset, which is located at 1628 La Mirada Blvd., as part of its Charlie Collection. Joe Leon and Nick Ingle of Voit Real Estate Services represented the seller, while Dean Zander of Newmark represented the buyer in the deal.

April 4, 2025

Acquisitions Midwest Multifamily Nebraska

Eastham Capital, Bender Cos. Acquire 258-Unit Multifamily Community in Omaha

by Kristin Harlow April 4, 2025

OMAHA, NEB. — A joint venture between Eastham Capital and Bender Cos. has acquired The Colonial, a 258-unit apartment community in Omaha. Eastham obtained a majority ownership in the deal through its current fund, Eastham Capital Fund VI LP. Bender, which has co-invested and partnered with Eastham on multiple projects, will oversee the day-to-day management. Parker Stewart and Alex Malzone of Northmarq brokered the sale. The Colonial is currently 95 percent occupied with average rents of just over $961 per month. the acquisition includes a renovation budget of $1.9 million, which will include interior unit renovations and exterior upgrades such as roof replacements, balcony repairs and parking lot enhancements. Built in 1967, the property features floor plans averaging 902 square feet. Amenities include an outdoor pool, community room, laundry facilities and storage lockers.

April 4, 2025

Acquisitions Industrial Loans Michigan Midwest

Bernard Financial Group Arranges $3.6M Acquisition Loan for Michigan Industrial Property

by Kristin Harlow April 4, 2025

CLINTON TOWNSHIP, MICH. — Bernard Financial Group (BFG) has arranged a $3.6 million loan for the acquisition of an 80,160-square-foot industrial property in Clinton Township, a northern suburb of Detroit. Joshua Bernard of BFG arranged the loan on behalf of the borrower, BKG Dominion Capital Blvd LLC. A life insurance company provided the loan.

April 4, 2025

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