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Acquisitions

AcquisitionsMarylandMultifamilySoutheast

Comstock Purchases 417-Unit Apartment Community in Rockville, Maryland

by John Nelson

ROCKVILLE, MD. — Comstock Holding Cos. Inc. has purchased The Reed, a 417-unit apartment community located at 15955 Frederick Road in Rockville, about 21 miles north of Washington, D.C. Comstock acquired the property in a joint venture with an institutional fund advised by Benefit Street Partners, with additional capital coming from Comstock affiliate Comstock Partners LC. The seller and sales price were not disclosed, but the Washington Business Journal reports that a person familiar with the transaction stated the property traded for $110 million. NewPoint Real Estate Capital provided Freddie Mac financing and arranged equity capital for the transaction. CHCI Residential Management and ParkX Management, both affiliates of Comstock, will operate The Reed. Built in 2015, the community is adjacent to the Shady Grove Metro Station and features one-, two- and three-bedroom apartments, as well as a resort-style swimming pool, fitness center with a yoga/boxing studio, clubroom, outdoor gathering spaces, multiple resident lounges and a private parking garage.

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AcquisitionsIndustrialTexas

Evergen Equity Acquires 254,457 SF Industrial Portfolio in Houston Area

by Taylor Williams

AUSTIN, TEXAS — Austin-based Evergen Equity has acquired a portfolio of three industrial buildings totaling 254,457 square feet in the Houston area. The portfolio includes an 85,797-square-foot building at 7601 N. Sam Houston Parkway W on the city’s northwest side; a 69,140-square-foot facility at 1001 Shaw Ave. in the eastern suburb of Pasadena; and a 99,250-square-foot structure at 10101 Fountaingate Drive in the southwestern suburb of Stafford. The buildings were fully leased at the time of sale. The seller and sales price were not disclosed.

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23512-Madero-Rd-Mission-Viejo-CA
AcquisitionsCaliforniaHealthcareWestern

Archer Property Partners Buys Medical Office Portfolio in Orange County for $17.8M

by Amy Works

RANCHO SANTA MARGARITA, MISSION VIEJO AND COSTA MESA, CALIF. — Archer Property Partners has acquired an outpatient medical office portfolio in Orange County for $17.8 million. Andy Knott and Austin Kanzler of CBRE represented the seller in the transaction. Totaling 39,689 square feet, the portfolio includes a 12,450-square-foot property at 23512 Madero Road in Mission Viejo, a 10,064-square-foot building at 722 Baker St. in Costa Mesa and a 17,175-square-foot asset at 29472 Avenida de las Banderas in Rancho Santa Margarita. MemorialCare fully occupies the buildings in Mission Viejo and Costa Mesa and occupies 12,169 square feet of the facility in Rancho Santa Margarita.

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The-Yukon-Hawthorne-CA
AcquisitionsCaliforniaIndustrialLoansOfficeWestern

Avatar Financial Group Provides $16.1M Acquisition Loan for Flex Campus in Hawthorne, California

by Amy Works

HAWTHORNE, CALIF. — Avatar Financial Group has provided a $16.1 million bridge loan for the acquisition of The Yukon, an industrial campus in Hawthorne. The two-year loan carries a 62 percent loan-to-value ratio and financed the undisclosed sponsor’s purchase of the property through a bankruptcy sale. Additionally, the loan provided capital to improve one of the buildings that is vacant and execute a lease-up strategy. Situated on 2.3 acres at 13100-13130 Yukon Ave., the 52,074-square-foot campus features three single-story flex office/light industrial buildings built between 1960 and 1966. The buildings offer 16- to 19-foot ceilings, a secured gated yard, approximately 100 surface parking spaces, six roll-up garage-style doors and 1,600 to 3,000 amps of power. Two of the three buildings, totaling 25,707 square feet, are fully occupied under long-term net leases. The remaining 26,367-square-foot building is currently vacant and will be built out and marketed for lease.

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AcquisitionsArizonaMixed-UseOfficeRetailWestern

Cushman & Wakefield | PICOR Brokers Sale of 15,023 SF Mixed-Use Property in Tucson

by Amy Works

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of Harrison Professional Plaza, a mixed-use building at 1020 S. Harrison Road in Tucson. RGR16 LLC purchased the asset from BSH Investments LLC for $2 million. The property features 15,023 square feet of retail and office space. Bryce Horner of Cushman & Wakefield | PICOR represented the seller in the deal.

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AcquisitionsMidwestRetailWisconsin

Mid-America Negotiates Sale of Whole Foods Market at Madison Yards in Wisconsin

by Kristin Harlow

MADISON, WIS. — Mid-America Real Estate Corp. has negotiated the sale of a newly developed Whole Foods Market net lease totaling 51,361 square feet at Madison Yards in Madison. The store serves as the anchor to the Madison Yards mixed-use development within the University Hill Farms neighborhood. The property is located less than two miles from the heart of the University of Wisconsin-Madison. Dan Rosenfeld, Andrew Lund, Nick Kohlmann and George Ghattas of Mid-America represented the seller, Summit Smith Development. The asset sold to a private buyer.

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AcquisitionsIndianaMidwestMultifamily

CBRE Arranges Sale of 372-Unit Multifamily Community in Indianapolis

by Kristin Harlow

INDIANAPOLIS — CBRE has arranged the sale of Deercross, a 372-unit multifamily property in Indianapolis. Iconic Property Partners purchased the asset from an affiliate of Wilkinson Corp. for an undisclosed amount. CBRE’s Hannah Ott, George Tikijian, Cam Benz and Claire Hassfurther represented the seller. Built in 1979, Deercross has undergone significant renovations during Wilkinson’s ownership, including new windows and complete interior upgrades across all units. Amenities include a business center, basketball court, fitness center, laundry facilities, picnic areas and a dog park.

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AcquisitionsIndustrialMidwestOhio

Colliers Brokers Sale of 54,672 SF Industrial Facility in Marysville, Ohio

by Kristin Harlow

MARYSVILLE, OHIO — Colliers has brokered the sale of a 54,672-square-foot industrial facility located at 14711 Industrial Parkway in Marysville near Columbus. Delivered in 2024, the property is fully leased to seven tenants averaging 7,810 square feet. The facility features clear heights ranging from 24 to 26 feet, six dock doors, eight drive-in doors and a 120-foot truck court. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel and Jonathan Schuen of Colliers represented the seller, Pioneer Development. The buyer was a local private investor.

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Harlem-River-Point-Portfolio
AcquisitionsAffordable HousingMultifamilyNew YorkNortheast

Ariel Property Advisors Arranges $55.6M Sale of Harlem Affordable Housing Portfolio

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $55.6 million sale of the Harlem River Point Portfolio, a collection of two affordable housing buildings totaling 315 units in Harlem. Harlem River Point North is an 11-story, 173-unit building that was constructed in 2015 and includes two commercial units. Harlem River Point South rises 14 stories, totals 140 units and was built in 2014. Amenities include a fitness center, playground and onsite laundry facilities. Victor Sozio, Shimon Shkury, Alexander Taic, Jake Brody and Remi Mandell of Ariel brokered the deal. The buyer and seller were not disclosed.

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AcquisitionsIndustrialNortheastPennsylvania

Endurance Real Estate Sells Light Industrial Portfolio Near Pittsburgh for $53.5M

by Taylor Williams

SEWICKLEY, PA. — Regional owner-operator Endurance Real Estate Group has sold a portfolio of six light industrial buildings totaling 379,440 square feet in Sewickley, located northwest of Pittsburgh, for $53.5 million. Known as the 79 North Portfolio, the buildings are situated on a combined 88.3 acres and feature an average clear height of 22 feet. Mike Hines, Brad Ruppel and Joe Hill of CBRE, along with Mateo Villa and Connor Jangro of local commercial services firm Genfor Real Estate, brokered the deal. The buyer was an undisclosed REIT. The portfolio was 99 percent leased at the time of sale.

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