SHERMAN, TEXAS — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Homestead of Sherman, a 132-bed skilled nursing facility in Sherman, approximately 65 miles north of Dallas. The community spans 39,211 square feet and sits on five acres. A Dallas-based private partnership sold the property to a Fort Worth-based owner-operator for an undisclosed price. Matthew Alley and Ryan Saul of SLIB brokered the deal.
HURST, TEXAS — Texas-based investment firm SPI Advisory has acquired Park Place Apartments, a 120-unit multifamily complex located in the northern-central metroplex city of Hurst. Built in 1978, the property offers one- and two-bedroom units and amenities such as a pool, tennis court, basketball court and outdoor grilling and dining areas. The seller and sales price were not disclosed. SPI Advisory plans to implement a value-add program.
BOSTON — CBRE has arranged the $514 million sale of a portfolio of 65 hotels totaling 7,865 rooms. The portfolio spans 27 states and numerous operating brands, including 14 Sonesta Simply Suites, 32 Sonesta ES Suites and 19 Sonesta Select hotels. The Midwest represents the largest segment of the portfolio with 20 hotels totaling 2,374 rooms, and the Northeast is second with 18 hotels totaling 2,347 rooms. Massachusetts-based REIT Service Properties Trust sold the assets to 21 separate buyers that mostly consist of family offices and private equity firms. Al Calhoun and Mark Fair of CBRE brokered the deal.
HINESVILLE, GA. — Marcus & Millichap has brokered the $10.3 million sale of Hinesville Central, a 41,800-square-foot retail center located at 755 Oglethorpe Highway in Hinesville. The property is shadow-anchored by a Walmart Supercenter. Al Taf of Marcus & Millichap’s Atlanta office represented the seller, a 104-year-old private company based in Georgia, in the transaction. Brian Munn, also with Marcus & Millichap’s Atlanta office, procured the buyer, a private investor. Both parties requested anonymity. Hinesville Central’s tenant roster includes Hibbett Sporting Goods, Kay Jewelers, GameStop, Bath & Body Works, Shoe Show, Luxor Nails, Hong Kong Restaurant, 1st Franklin Financial Corp., High Life Tobacco and Vape, General Nutrition Corp., Surcheros, Polar Sweets and Golden Beauty Supply.
OAK LAWN, ILL. — Interra Realty has brokered the $13 million sale of reVerb Oak Lawn, an 84-unit multifamily property in the Chicago suburb of Oak Lawn. Located on South Harlem Avenue, the community was originally built in 1971 and renovated in 2017. The property was 97 percent occupied at the time of sale. Joe Smazal, Patrick Kennelly and Paul Waterloo of Interra represented the private seller and the undisclosed buyer.
REDFORD, MICH. — DealPoint Merrill has acquired a 95,000-square-foot industrial facility in Redford, a western suburb of Detroit. The purchase price and seller were undisclosed. DealPoint Merrill plans a $9 million renovation that is expected to commence this quarter. David Frank and Sterling McGregor of DealPoint Merrill negotiated the transaction and handled the due diligence for the sale, respectively. Jason Limbert and Tyler Bendicksen of DealPoint Merrill completed the acquisition and underwriting, while Dave Rumsey of DealPoint Merrill’s capital markets division assisted with the equity-backed securities. Anthony Pellegrino III of P.A. Commercial represented the seller.
DALLAS, HURST AND ARLINGTON, TEXAS — Marcus & Millichap has brokered the sales of three multifamily properties totaling 377 units in the Dallas area. The properties sold for a combined $36.6 million. Park Place totals 120 units and is located in the northern-central metroplex city of Hurst, while Twenty Oaks comprises 86 units and is located in nearby Arlington. The Francisco, which is situated about five miles from downtown Dallas, totals 171 units. Al Silva and Ford Braly of Marcus & Millichap represented the sellers and buyers, all of which requested anonymity, in all three transactions.
SAN ANTONIO — Hunter Hotel Advisors has negotiated the sale of two Marriott-branded properties in San Antonio. The Courtyard by Marriott and Fairfield Inn & Suites SeaWorld/Westover Hills feature a combined 277 rooms and are located on the city’s west side. An undisclosed, institutional investment firm sold the hotels to Florida-based IRAS Group for an undisclosed price. David Perrin of Hunter Hotel Advisors represented the seller in the transaction.
SAN ANTONIO — CBRE has arranged an undisclosed amount of acquisition financing for Network Crossing, a 143,831-square-foot office complex in northwest San Antonio. Network Crossing consists of five buildings that were 85 percent leased at the time of the loan closing. Brock Hudson and Beau Brehm of CBRE arranged the five-year, fixed-rate loan on behalf of the borrower, Houston-based investment firm Fuller Interests. The direct lender was not disclosed.
GRAND PRAIRIE, TEXAS — SkyWalker Property Partners has sold Brookhollow Riverside, a 119,121-square-foot office building in the central metroplex city of Grand Prairie. Tom Strohbehn and Scott Farber of Younger Partners represented the seller in the transaction. Houston-based Silver Creek Realty Advisors purchased the building for an undisclosed price via a 1031 exchange. SkyWalker Property Partners originally purchased the building, which was 90 percent leased at the time of sale, in 2006.