Thursday, July 17, 2025
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Acquisitions

AcquisitionsIndustrialMidwestNebraskaSelf-Storage

Matthews Arranges $15.5M Sale of Self-Storage Portfolio in Nebraska

by Kristin Harlow

NORTH PLATTE, NEB. — Matthews Real Estate Investment Services has negotiated the $15.5 million sale of a four-property self-storage portfolio in North Platte, located in the west-central part of Nebraska. The facilities are located at 3109 S. Willow St., 2020 E. Philip Ave., 2505 W. Rodeo Road Ave. and 214 N. Lakeview Road. The portfolio totals 208,083 net rentable square feet across 1,142 units. Mason Gates of Matthews brokered the transaction. The seller, Matthew Ackerman of ASONP LLC, sought to divest the portfolio after years of building one of the largest self-storage footprints in Nebraska. The buyer, HAN Capital LLC, is a property investment company based in Chicago looking to expand its self-storage footprint across Nebraska and the broader Midwest. The transaction marked the largest broker-facilitated self-storage deal in the state by price and square footage, according to Matthews. The deal was structured with a blend of conventional and seller financing.

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AcquisitionsIllinoisMidwestMultifamily

Kiser Group Brokers Sales of Three Chicago Multifamily Properties for Combined $10.4M

by Kristin Harlow

CHICAGO — Kiser Group has brokered the sales of three fully occupied multifamily properties in Chicago’s Edgewater neighborhood for a total of $10.4 million. The buildings, all constructed in 2016, consist of large two- and three-bedroom units with ground-floor commercial space. All are predominately occupied by students and are situated near Loyola University. The assets were originally listed as a portfolio sale, but Kiser decided to split the buildings for individual sale, citing the rise in interest rates at the time of launch. All three buildings sold to new entrants in the market — a doctor from Columbus, a 1031 exchange buyer from the northwest suburbs and a local retail investor purchasing its first mixed-use property. Andy Friedman and Jake Parker of Kiser brokered the sales.

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Cortland-Riverside-Fort-Worth
AcquisitionsMultifamilyTexas

IPA Negotiates Sale of 374-Unit Cortland Riverside Apartments in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Cortland Riverside, a 374-unit apartment community in Fort Worth. Built in 2020 on the city’s north side, the property offers one-, two- and three-bedroom units with an average size of 1,014 square feet. Amenities include a pool, fitness center, business center, dog park and a clubhouse. Drew Kile, Michael Ware, Taylor Hill, Joey Tumminello and Shelby Clark of IPA brokered the deal. The buyer and seller were not disclosed. The property, which was 95 percent occupied at the time of sale, has since been rebranded as The Hadley Riverside.

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Cottages-at-Summer-Creek-Fort-Worth
AcquisitionsBuild-to-RentSingle-Family RentalTexas

ONM Living Sells 196-Unit Build-to-Rent Property in South Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Locally based developer ONM Living has sold Cottages at Summer Creek, a 196-unit build-to-rent residential property in South Fort Worth. Built on 18 acres in 2023, Cottages at Summer Creek offers studio, one-, two- and three-bedroom residences that range in size from 344 to more than 1,200 square feet. Homes offer private fenced yards, covered front porches, granite countertops, stainless steel appliances, walk-in showers, washers and dryers and smart technology features. Amenities include a pool, two pet parks, pickleball courts, walking trails and a conference room. ONM Living sold the property in partnership with All Pro Capital. Berkadia brokered the deal. The buyer was Stockbridge Capital Group.

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AcquisitionsMixed-UseMultifamilyNorth CarolinaSoutheast

Cortland, Pamera Purchase and Rebrand 417-Unit Peace Apartments in Downtown Raleigh

by John Nelson

RALEIGH, N.C. — Cortland and Pamera North America have purchased Peace Apartments, a 417-unit multifamily community located at 417 W. Peace St. in downtown Raleigh. The new ownership is rebranding the 12-story high-rise as Cortland Glenwood South. The property is part of Phase I of Smoky Hollow, a mixed-use development by locally based Kane Realty. The acquisition also includes a parking garage with direct elevator access to the Publix on the ground level and one retail bay within Smoky Hollow. The Publix grocery store was not included in the sale. Kane Realty sold the multifamily community to Cortland and Pamera for an undisclosed price. Cortland plans to renovate the interior corridors and amenity areas at Cortland Glenwood South, as well as enhance the package delivery process for tenants and add a new urgent care provider on the ground level. Cortland Glenwood South features studio, one-, two- and three-bedroom apartments, as well as a heated swimming pool, fire pit, sky lounge with TVs, a two-story fitness center and a dog grooming station.

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AcquisitionsFloridaRetailSoutheast

SRS Arranges $9.3M Sale of New Gas Station and Convenience Store Leased to 7-Eleven in Lecanto, Florida

by John Nelson

LECANTO, FLA. — SRS Real Estate Partners has arranged the $9.3 million sale of a newly built gas station and convenience store located on a 1.8-acre site at 3045 W. Norvell Bryant Highway in Lecanto, a city in west-central Florida. 7-Eleven occupies the 4,500-square-foot property, which was delivered in August 2024, on a 15-year, corporate-guaranteed lease. The property is an outparcel to Black Diamond, a 29-acre retail development anchored by Target. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based developer, in the transaction. The buyer was a private investor from Kentucky. Both parties requested anonymity.

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AcquisitionsAffordable HousingSeniors HousingSoutheastVirginia

Greysteel Brokers $5.9M Sale of Affordable Seniors Housing Community in Berryville, Virginia

by John Nelson

BERRYVILLE, VA. — Greysteel has brokered the $5.9 million sale of Mary Hardesty House, an affordable seniors housing community located in Berryville, roughly 65 miles northwest of Washington, D.C. Fletcher Hultman, Justin Mazzamaro and Henry Mathies of Greysteel represented the seller, The Wentwood Cos., in the transaction. Community Housing Partners was the buyer. Totaling 60 units, the property was developed using low-income housing tax credit (LIHTC) financing and is engaged in a long-term affordable housing use agreement. Amenities at the property include a game room, social gathering area, fitness center, outdoor patio and grill and a salon.

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Fairlawn-Estates-at-the-T-Mattapan
AcquisitionsMassachusettsNortheast

Related Beal Buys 347-Unit Apartment Community in Metro Boston, Plans Affordable Conversion

by Taylor Williams

MATTAPAN, MASS. — Related Beal has purchased Fairlawn Estates at the T, a 347-unit apartment community in Mattapan, located just south of downtown Boston, with plans to convert the property into affordable housing. Related Beal has entered into an agreement with the City of Boston to add a perpetual affordable deed restriction to the property, which was formerly known as SoMa at the T, that will restrict all units to households earning between 60 and 80 percent of the area median income. The agreement allows all current residents to remain in their homes. Related Beal also plans to invest about $6.4 million in capital improvements to the property, which consists of 12 buildings that were originally constructed in the 1960s and house studio, one- and two-bedroom units. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, The DSF Group, in the transaction.

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1555-Burke-Ave-San-Francisco-CA
AcquisitionsCaliforniaIndustrialWestern

MCA Realty Buys 40,000 SF Multi-Tenant Industrial Building in San Francisco

by Amy Works

SAN FRANCISCO — MCA Realty has acquired a multi-tenant industrial building located at 1555 Burke Ave. in San Francisco for $11 million. The firm purchased the building with its MCA Realty Industrial Growth Fund II from a San Francisco-based private investor in an off-market transaction. MCA Realty plans to implement a capital improvement program at the 40,000-square-foot building. Planned exterior upgrades include new paint, concrete repairs, roof overlay, modern landscaping, identity signage and exterior fencing. Interior improvements include office refreshes, new carpet/ceiling tiles and bathroom fixtures, LED lighting, painting and insulation of the warehouse. The building features 16 condominium units featuring 18-foot clear heights, grade-level loading, well-designed ingress/egress and efficient warehouse and office layouts. At the time of sale, the property was 94 percent leased to 15 tenants. Jim Farris of JMF Capital represented the buyer, while Karl Hansen of CBRE represented the seller in the deal.

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AcquisitionsDevelopmentMidwestMultifamilyWisconsin

Cushman & Wakefield | Boerke Arranges Sale of Multifamily Development Site Near Milwaukee

by Kristin Harlow

MOUNT PLEASANT, WIS. — Cushman & Wakefield | Boerke has arranged the sale of 18.1 acres of land in Mount Pleasant, a southern suburb of Milwaukee. The site, located near I-94, will be developed into a 280-unit garden-style apartment community. The buyer, Continental Properties, plans to break ground immediately. The seller was undisclosed.

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