NASHVILLE, TENN. — Bradford Allen has acquired TownePlace Suites Nashville Midtown, a 193-room hotel located near Vanderbilt University in Nashville’s Midtown neighborhood. Opened in 2021, the 10-story hotel features a fitness center, onsite parking, meeting space and a rooftop lounge with grilling stations. The hotel’s studio guest suites also offer full kitchens and oversized living, work and sleep areas. Additionally, a convenience store and the hotel’s 60-seat restaurant and bar are located adjacent to the fifth-floor sky lobby. The first floor also includes two retail spaces, which are leased to Subway and Takumi, a Japanese restaurant scheduled to open in first-quarter 2026. Ron Danko and James Maher of CBRE represented the seller, 3H Group, in the transaction. The sales price was not disclosed.
CARROLLTON, GA. AND UNION, S.C. — SRS Real Estate Partners has negotiated the sales of two single-tenant retail properties in Georgia and South Carolina totaling $7.6 million. The properties include a property in Carrollton leased to Parachute Plasma and a drive-thru restaurant in Union occupied by Arby’s. Britt Raymond and Kyle Fant of SRS represented the 1031 exchange buyer, a New York City-based private investor, in the transaction. The seller was not disclosed. The first property, Parachute Plasma, sold for $5.5 million and totals 7,613 square feet of retail and medical office space. Built in 2024, Parachute Plasma operates on a new 20-year triple-net lease. The second property, a 2,364-square-foot Arby’s restaurant, was built in 2021 and was sold for roughly $2.1 million. Arby’s has approximately 16 years remaining on its absolute triple-net lease.
PEARLAND, TEXAS — Partners Development, the development platform of Partners Real Estate, has sold a 21,400-square-foot retail strip center in Pearland, a southern suburb of Houston. Known as Phase II of Broadway Plaza, the two-building center was fully leased at the time of sale. Pet Suppliers Plus is the anchor tenant. Marc Peeler, Joan Collum and Cobo Fajardo of Partners Real Estate internally represented the seller in the transaction. The buyer and sales price were not disclosed.
NEW YORK CITY — A partnership between two hospitality owner-operators, Gencom and Highgate, as well as New York City-based investment firm Argent Ventures, has acquired the 607-room InterContinental New York Times Square hotel in Midtown Manhattan. According to Hospitality Investor and The New York Business Journal, the sales price was $230 million. The 34-story hotel offers approximately 20,000 square feet of meeting and event space, multiple onsite food-and-beverage options and a 24-hour fitness center. The new ownership plans to renovate guestrooms, public spaces and dining venues. Eastdil Secured represented the seller, a joint venture between Tishman Realty and MetLife Investment Management, in the transaction and arranged acquisition financing for the deal through Monroe Capital.
DENVER — Investment funds managed by Morgan Stanley Real Estate Investing (MSREI) have acquired a seniors housing portfolio for $305 million. Kayne Anderson was the seller. Totaling 463 units, the portfolio features three communities located near Denver. “We are pleased to acquire this high-quality portfolio of seniors housing communities, which has demonstrated strong historical performance,” says Will Milam, head of U.S. investments at MSREI. “As people age, their real estate needs evolve, and as the first baby boomers are turning 80 this year, demand for seniors housing is rising rapidly. We expect this sector to grow nearly 5 percent annually over the next five years as this population cohort expands.” MorningStar will continue to operate the communities on behalf of the new ownership. Funds managed by MSREI currently have an ownership interest in approximately 30 senior living communities comprising 3,000 units across the United States.
WOODLAND HILLS, CALIF. — Space Investment Partners has acquired Topanga Gateway, a 123,402-square-foot grocery-anchored retail center located in Woodland Hills for $64 million. Built in 1963 and renovated in 2024, the open-air center was 97 percent leased at the time of sale. Topanga Gateway is home to several tenants including Ralphs, The Container Store, Petco, Chipotle Mexican Grill, Baskin-Robbins, Noah’s NY Bagels and FedEx. Eastdil Secured represented the buyer and the seller, a private investor, in the transaction. The purchase of Topanga Gateway follows Space Investment’s $118.5 million acquisition of Fullerton Metrocenter, a 395,703-square-foot dual-grocery-anchored center located at 1375 Harbor Blvd. in Fullerton.
PORTLAND, ORE. — JLL Capital Markets has completed the sale and financing of Morningstar at Happy Valley, an assisted living and memory care property in Portland. Confluent Development sold the property to Harrison Street, in partnership with The Springs Living, for an undisclosed price. The buyer will rebrand the 87-unit property as The Springs at Sunnyside. The Springs Living will operate the asset. Jay Wagner, Rick Swartz, Aaron Rosenzweig, Dan Baker, Jim Dooley and Dean Ferris of JLL represented the seller. Alanna Ellis of JLL led the financing efforts on behalf of the buyer. JLL secured a five-year acquisition loan with Huntington National Bank for Harrison Street. Built in 2019, The Springs at Sunnyside offers 61 assisted living units across a mix of studios, one- and two-bedroom units in addition to 26 private memory care units. The three-story building features all-day restaurant-style dining, a 24-hour bistro, chapel, theater, library, general store, massage room, outdoor courtyards, barbecue and fire pits, beauty salon, fitness room and raised garden beds. Onsite services include wellness programs and activities, a full-time licensed nurse, 24-hour care staff and scheduled transportation.
GRAND ISLAND, N.Y. — Cushman & Wakefield and Pyramid Brokerage Co. have arranged the $36.7 million sale of Country Glenn, a 336-unit apartment community in Grand Island, located just outside of Buffalo. According to Apartments.com, the property was built in 1974 and offers studio, one- and two-bedroom units that range in size from 425 to 1,340 square feet. Berkley Properties sold Country Glenn to NBM Equities. Niko Nicolaou, Ryan Dowd, Peter Welch, J.P. Hohl and Alexandria Russo Ebers, in collaboration with Pyramid’s Jonathan Weinstein and Robert Stewart, brokered the deal on behalf of both parties. John Alascio, Brad Domenico, Brian Anderson and Chuck Kohaut of Cushman & Wakefield arranged acquisition financing for the transaction.
SIGNAL HILL, CALIF. — DRA has completed the sale of Signal Hill Commerce Center, a portfolio of three industrial properties spread across four buildings in Signal Hill. An out-of-state, high-net buyer acquired the portfolio for $24 million, or $268 per square foot. The properties are located at 2698 Junipero, 2300 Walnut and 2700 Rose avenues. Michael Longo, Eric Cox, Grant Goldman, Mark Shaffer, Anthony DeLorenzo and Brian Held of CBRE represented the seller, while Greg Grant and Pete Obradovich of CBRE’s Debt & Structured Finance organized the funding. Totaling 89,438 square feet on 4.3 acres, the portfolio is 87 percent leased to 46 tenants with unit sizes ranging from 1,250 square feet to 4,176 square feet. All four buildings feature a 24-foot clear height and between 12 and 20 ground-level doors.
KANSAS CITY, MO. — MMG Real Estate Advisors has arranged the sale and financing of Union Berkley, a 407-unit apartment community in Kansas City. The transaction marks the largest single-property sale ever recorded in Kansas City, according to MMG. The property was built in 2018 and is situated in the riverfront district. Harry Trotter, TJ Wahl, Brett Meinzer, Colson Bayles and Parker Guffey of MMG represented the seller.