THE WOODLANDS, TEXAS — Dallas-based Kobalt Investment Co. has acquired Creekside Park Village Green, a 74,670-square-foot shopping center in The Woodlands, about 30 miles north of Houston. Built in 2014, the center was 88 percent leased at the time of sale to tenants such as Fielding’s Local, Crust Pizza, Levure Bakery & Patisserie, Club Pilates and Cyclebar. The seller and sales price were not disclosed.
RALEIGH, N.C. — CBRE|Raleigh has negotiated the $56.5 million sale of Edwards Mill Townhomes and Apartments, a 220-unit multifamily community located at 4428 Mill Village Road in northwest Raleigh. Howard Jenkins, Kevin Kempf, William Yowell and Drew Harney of CBRE’s Southeast Multifamily Investment Sales team represented the seller, California-based RK Properties, in the transaction. K.O. Kennedy and Scott Brady of CBRE’s Debt & Structured Finance division secured acquisition financing for the undisclosed buyer. Built in 1984, Edwards Mill is situated within walking distance to Crabtree Valley Mall and features an onsite 20-mile fitness trail, a 5,000-square-foot fenced dog park, car care center, fitness center, swimming pool with a sundeck, cyber café, full basketball court and a lighted tennis court.
DAYTONA BEACH, FLA. — Urban Story Ventures has sold a former Macy’s department store at Volusia Mall in Daytona Beach for $10 million. The Chattanooga, Tenn.-based investor purchased the 10-acre property in spring 2020. The buyer, a joint venture between Legacy Partners and capital partner Griffin Capital Co. LLC, plans to develop a 350-unit apartment community at the site. The community, dubbed Legacy Daytona, will be situated across the street from Daytona Beach International Airport and Daytona International Speedway. Designed by Zyscovich Architects, the property will feature a top floor sky lounge, outdoor living room, heated saltwater pool, reflection courtyard, fitness center, yoga and spin studio, a dog park and a pet spa. The store will be demolished in the coming months to make way for Legacy Daytona. Legacy Partners and Griffin Capital plan to move in first tenants by summer 2024, with full completion set for summer 2025. Urban Story Ventures is currently involved in the adaptive reuse of another former Macy’s store it sold in Vero Beach, Fla.
DAYTONA BEACH, FLA. — Marcus & Millichap has brokered the $12.8 million sale of Boardwalk Inn and Suites, a 101-room hotel located at 301 S. Atlantic Ave. in Daytona Beach. Ahmed Kabani, Lucas Mondino and Kian McLean of Marcus & Millichap’s Kabani Hotel Group represented the seller, South Atlantic Hospitality Group, in the transaction. Kabani says the hotel fetched more than 10 offers during the marketing process. Catherine O’Brien of Marcus & Millichap’s Encino, Calif., office assisted the Kabani Hotel Group on the list side. The buyer was an entity doing business as HLOM LLC. Built in 1988, the oceanfront hotel features a fitness facility, outdoor pool, hot tub and direct beach access.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $16.2 million sale of two adjacent multifamily buildings totaling 52 units that are located at 992-1000 Amsterdam Ave. on Manhattan’s Upper West Side. The buildings include a combined seven commercial spaces. Victor Sozio, Shimon Shkury, Howard Raber, and Evan Hirsch of Ariel Property Advisors brokered the deal. The buyer and seller were not disclosed.
KANSAS CITY, MO. — Northmarq has brokered the sale of Province at Briarcliff in Kansas City for $23.8 million. The 120-unit multifamily property, built in 2002, is located at 1282 Northwest Vivion Road within the Briarcliff West neighborhood. Amenities include a business center, clubhouse, fitness center, pool and sundeck. Jeff Lamott and Gabe Tovar of Northmarq represented the seller, Forum Real Estate Group, and the buyer, Peak Capital Partners.
LITCHFIELD, MINN. AND MONROE, WIS. — MAG Capital Partners LLC has acquired two industrial facilities totaling 205,410 square feet in Minnesota and Wisconsin in a sale-leaseback transaction with Monroe Truck Equipment Inc. The sales price was undisclosed. One of the properties totals 162,170 square feet and is located in Litchfield, Minn. The other spans 43,240 square feet and is situated in Monroe, Wis. Founded in 1958 in Wisconsin, Monroe Truck Equipment specializes in snow and ice control equipment, towing and service bodies. In 2021, the company joined Aebi Schmidt Group, a Switzerland-based infrastructure and terrain maintenance firm. Daniel Macks and Jonathan Wolfe of STREAM Capital Partners represented the seller. Led by Dax Mitchell and Andrew Gi, MAG Capital Partners is based in Dallas.
LOS ANGELES — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Rehabilitation Centre of Beverly Hills, a 150-bed skilled nursing facility in Los Angeles. The Rehabilitation Centre of Beverly Hills is a premier, state-of-the-art, all-Medicare nursing facility located near Cedars-Sinai Medical Center, one of the most prestigious hospitals in the United States. A private, high-net-worth owner-operator based in Los Angeles was the buyer. The seller and price were not disclosed.
MORENO VALLEY, CALIF. — Dalfen Industrial has purchased Moreno Valley Logistics Center, an industrial property situated less than three miles from Interstate 215 in Moreno Valley. Terms of the transaction were not released. Moreno Valley Logistics Center features 95,922 square feet of industrial space. The asset is in close proximity to State Route 60 and State Route 91, enabling east-west connectivity including to the Port of Long Beach and Port of Los Angeles.
EVERETT, WASH. — Hanley Investment Group Real Estate Advisors has arranged the sale of a retail building located at 1031 SE Everett Mall Way in Everett. An Orange County, Calif.-based private investor company sold the asset to a Seattle-based private investor for $2.8 million. Pacific Dental Services and Coldwell Banker occupy the two-tenant 3,816-square-foot building, which was built in 1975 and renovated in 2017. Jeff Lefko and Bill Asher of Hanley Investment Group, in association with ParaSell, represented the seller, while Michael Finch of CenturyPacific represented the buyer in the deal.