Acquisitions

Leisure Real Estate Advisors Arranges Sale of Holiday Inn Express Hotel in Fremont, Nebraska

by Kristin Harlow March 22, 2023

FREMONT, NEB. — Leisure Real Estate Advisors LLC has arranged the sale of the Holiday Inn Express hotel located at 2415 N. Lincoln Ave. in Fremont. The sales price was undisclosed, but the list price was $9.6 million. Built in 2003, the 94-room hotel is situated along the Platte River, about a 30-minute drive to the northwest from downtown Omaha. Brent Jaynes of Leisure Real Estate Advisors represented the seller, Fremont Hotels Inc. Oracle Holdings LLC, an investment group with another hotel holding in the Omaha area, was the buyer. Oracle will continue operating the hotel as a Holiday Inn Express under a new 15-year license agreement with IHG. Noble Hospitality will manage the property on behalf of Oracle.

March 22, 2023

Acquisitions Illinois Midwest Multifamily

Monarch Realty Partners Negotiates $1.1M Sale of Multifamily Property in Chicago

by Kristin Harlow March 22, 2023

CHICAGO — Monarch Realty Partners has negotiated the sale of a 22-unit multifamily property in Chicago’s Englewood neighborhood for $1.1 million. The asset is located at 1418 W. Marquette Road. Robert Berman and Rudy Hancock of Monarch represented the seller, a private investor. Further details were not provided.

March 22, 2023

Acquisitions Florida Seniors Housing Southeast

Virtus Real Estate Capital, Blaze Capital Acquire 163-Unit Active Adult Property in Metro Orlando

by John Nelson March 22, 2023

DAVENPORT, FLA. — Austin, Texas-based Virtus Real Estate Capital and Charleston, S.C.-based Blaze Capital Partners have acquired The Pointe at Siena Ridge, a 163-unit active adult residential community in the Orlando suburb of Davenport. The seller and sales price were not disclosed. The property was constructed in 2021 and features a mix of one- and two-bedroom apartments ranging in size from 753 to 1,046 square feet that are reserved for residents 55 and older. Each unit features 9-foot ceilings, in-unit washers and dryers, stainless steel appliances and private, screened-in balconies and patios. Community amenities include a resort-style swimming pool, elevator access, fitness center, movie theater, hair salon, bocce ball court, clubhouse and coffee bar and wine lounge. The property also provides tenants with 23 detached garages and electric vehicle charging stations. The Pointe at Siena Ridge is Blaze Capital’s fourth active adult acquisition in Florida.

March 22, 2023

Acquisitions Georgia Office Southeast

APG Sells Two Metro Atlanta Office Properties for $18.5M

by John Nelson March 22, 2023

KENNESAW AND ATLANTA, GA. — Atlanta Property Group (APG) has sold two office buildings in metro Atlanta for a combined $18.5 million. The transactions include the $8.1 million sale of 1075 Big Shanty, a 72,000-square-foot, single-story office building located at 1075 Big Shanty Road in Kennesaw, and the $10.4 million sale of Paces Cumberland, a 70,000-square-foot, multi-tenant office building located in Atlanta’s Vinings district. The buyers were not disclosed. APG currently owns or operates nearly 4.5 million square feet of office and industrial properties throughout the Southeast.

March 22, 2023

Acquisitions Healthcare Nevada Office Western

MIG Sells Pecos Plaza Medical Campus in Henderson, Nevada to Woodside Health for $26.7M

by Jeff Shaw March 22, 2023

HENDERSON, NEV. — MIG Real Estate has sold Pecos Plaza, a 124,000-square-foot medical and office campus in Henderson, to Woodside Health for $26.7 million. The Class B medical and office campus is located at 9005-9089 South Pecos Road. It includes a two-story building complemented by seven single-story medical/professional office buildings situated on a 7.6-acre parcel. The assets are 93 percent occupied with a tenant roster that includes Belle Medical, Las Vegas Urology, Serenity Dental, and Innovative Pain Care Center, among others. Cushman & Wakefield and JLL represented MIG in the transaction.

March 22, 2023

Acquisitions Multifamily Washington Western

Waterton Purchases 128 on State Apartments in Kirkland, Washington

by Jeff Shaw March 22, 2023

KIRKLAND, WASH. — Waterton has re-entered the Seattle market with its purchase of the 123-unit 128 on State apartment community in Kirkland. The property is situated at the crossroads of NE 85th Street and Interstate 405. The buyer plans to execute a value-add renovation at the 1.5-acre community. The property provides an opportunity for an impactful value-add renovation scope, according to Waterton. This would include upgrading residences (all of which are in original condition) to a modern finish level with quartz countertops, tile backsplashes and refinished cabinetry in kitchens; new tile and tub surrounds in bathrooms; new carpeting in bedrooms; and updated lighting and plumbing fixtures throughout. Common areas will also be updated with modern furniture and finishes, including a new yoga studio in the fitness center.

March 22, 2023

Acquisitions Arizona Industrial Loans Western

Gantry Arranges $12.9M in Acquisition Financing for Industrial Property in Peoria, Arizona

by Jeff Shaw March 22, 2023

PEORIA, ARIZ. — Gantry has arranged $12.9 million of permanent financing for the acquisition of a newly constructed, 157,000-square-foot warehouse facility in the Phoenix suburb of Peoria. The space is fully leased to a single credit tenant. The modern facility is the first building completed within Peoria Logistics Park, a 150-acre, master-planned industrial development two miles east of Loop 101. The acquired property includes a dedicated vehicle maintenance building. Tim Storey and Chad Metzger of Gantry’s Phoenix production office secured the loan for the buyer, a private real estate entity. One of Gantry’s correspondent life company lenders provided the fixed-rate, 11-year loan.

March 22, 2023

Acquisitions California Office Western

Volwood Management Buys Boutique Office Building in Orinda, California for $12.8M

by Jeff Shaw March 22, 2023

ORINDA, CALIF. — Volwood Management has acquired a Class A office building in the East Bay submarket of Orinda for $12.8 million. The boutique asset is situated northeast of Oakland. It was built in 1974 and renovated in 2018. The space is currently 91 percent leased and features exposed brick and timber, as well as upgraded HVAC and lighting. The JLL Capital Markets team of Erik Hanson, Rob Hielscher, David Dokko, Adam Lasoff, Mike Matera and Caroline Reynolds represented the seller, Long Market Property Partners, in the transaction. Knute Bucklew, head of agency leasing for JLL’s East Bay region, oversaw leasing advisory services.

March 22, 2023

Acquisitions Industrial Southeast Virginia

Lingerfelt, Partners Group Purchase 1.2M SF Industrial Portfolio in Metro Richmond for $105.6M

by John Nelson March 21, 2023

COLONIAL HEIGHTS AND ASHLAND, VA. — A joint venture between Lingerfelt and Partners Group has purchased a nearly 1.2 million-square-foot industrial portfolio in metro Richmond for $105.6 million. The seller was not disclosed. The portfolio includes Walthall Distribution Center, a three-building property in Colonial Heights spanning 868,601 square feet, and Northlake Distribution Center, a 293,115-square-foot facility in Ashland. Developed between 2000 and 2003, the facilities include cross-dock and rear-load configurations, 32-foot clear heights, a high ratio of dock positions, ESFR fire protection and ample auto parking spaces. The portfolio was fully leased at the time of sale to 18 separate tenants. Matt Anderson and Harrison McVey of Colliers will handle the marketing and leasing of the portfolio on behalf of the new ownership. Colliers will also provide property and facility management services for the properties and tenants.

March 21, 2023

Acquisitions Maryland Retail Southeast

First National Realty Partners Acquires 359,484 SF Shopping Center in Waldorf, Maryland

by John Nelson March 21, 2023

WALDORF, MD. — First National Realty Partners (FNRP) has purchased Waldorf Marketplace, a 359,484-square-foot, grocery-anchored shopping center in Waldorf, about 28 miles south of Washington, D.C. The seller and sales price were not disclosed. The center is anchored by a 58,092-square-foot Safeway grocery store, which has been a tenant at Waldorf Marketplace since 2005. Other tenants include Hobby Lobby, Jared, Petco, Starbucks Coffee, Wells Fargo, Red Robin, TGI Fridays, Bath & Body Works and Famous Dave’s. FNRP’s other acquisitions in the Mid-Atlantic region include Brandywine Crossing in Maryland and Haymarket Village Center and Promenade at Manassas in Virginia.

March 21, 2023

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