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Acquisitions

AcquisitionsHospitalityOregonWestern

Crystal Investment Property Arranges Sale of 64-Room The Dalles Inn in Oregon

by Jeff Shaw

THE DALLES, ORE. — Marcus & Millichap has arranged the sale of The Dalles Inn, a 64-room hotel in The Dalles, located along the Columbia River near the Washington border.  The hotel is located at 112 W. 2nd St. along State Highway 30 near its intersection with Interstate 84.  Michelle Kennedy of Crystal Investment Property represented the buyer, a limited liability company. David Tabata of Marcus & Millichap’s Portland office aided in closing this transaction. Chris Gomes and Skyler Cooper of Marcus & Millichap’s Dallas office were also listed on the deal as supporting brokers, alongside Allan Miller in the firm’s Austin office. Details regarding the seller were not disclosed.

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AcquisitionsCaliforniaOfficeWestern

Private Investor Buys Office Building in Los Angeles’ Brentwood Submarket for $9.3M

by Jeff Shaw

LOS ANGELES — A private investor has acquired a 20,576-square-foot office building in the Los Angeles submarket of Brentwood for $9.3 million.  The building is located at 520 Sepulveda Blvd. The asset features two parking levels, three office levels, an open courtyard, plug-and-play cell tower platform and signage visible from I-405.  T.C. Macker, Jennifer Moscoso and Christian Holland of WESTMAC Commercial Brokerage Co. represented the seller, another private investor. Mitch Stokes of Avison Young represented the buyer.

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AcquisitionsOfficeTexas

Partners Real Estate Arranges Sale of 6,866 SF Office Building in San Antonio

by Taylor Williams

SAN ANTONIO — Houston-based brokerage firm Partners Real Estate has arranged the sale of a 6,866-square-foot office building in San Antonio. According to LoopNet Inc., the single-tenant property at 825 Jackson Keller Road was built on 1.4 acres in 1996. Joe Bright of Partners represented the seller, River City Federal Credit Union, in the transaction. Additional terms of sale were not disclosed.

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $12.2M Sale of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $12.2 million sale of a 93-unit apartment building in Manhattan’s Marble Hill neighborhood. The name and address of the property were not disclosed. Seth Glasser, Michael Fusco, Binyamin Katz and Joe Koicim of Marcus & Millichap brokered the deal. The buyer and seller were both family-run companies that requested anonymity.

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AcquisitionsMidwestMinnesotaMultifamily

Marcus & Millichap Brokers $1.7M Sale of Multifamily Property in Bemidji, Minnesota

by Kristin Harlow

BEMIDJI, MINN. — Marcus & Millichap has brokered the $1.7 million sale of Kestrel Pines Townhomes in Bemidji, a city in northern Minnesota. Constructed in 2005, the rental townhome property consists of 30 units and is located at 906 26th St. NW. The units feature individual garages, patios and washers and dryers. Chris Collins and Evan Miller of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies.

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AcquisitionsMultifamilyNorthmarqTexas

Northmarq Arranges Sale of 108-Unit Multifamily Property Near San Antonio

by Taylor Williams

HONDO, TEXAS — Northmarq has arranged the sale of Las Palomas Apartments, a 108-unit multifamily property located in the western San Antonio suburb of Hondo. Built in 1995, the property offers two- and three-bedroom units and amenities such as a playground, dog park and onsite laundry facilities. Zar Haro, Moses Siller, Bryan VanCura, Phil Grafe and Brian Booth of Northmarq represented the seller, Lonestar Springs, in the transaction and procured the buyer, Revive Real Estate. Cheryl Higley of Northmarq also arranged acquisition financing on behalf of Revive Real Estate.

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AcquisitionsMultifamilyNew YorkNortheast

Houlihan-Parnes Negotiates Sale of 50-Unit Apartment Complex in Sidney, New York

by Taylor Williams

SIDNEY, N.Y. — Houlihan-Parnes Realtors has negotiated the sale of Hidden Hollows, a 50-unit apartment complex in Sidney, a village in upstate New York’s Delaware County. The garden-style complex consists of five two-story buildings on a 5.1-acre site. The unit mix comprises 32 three-bedroom apartments and 18 four-bedroom residences, and the property also includes 50 covered parking spaces. Ed Graf and Ted Sannella of Houlihan-Parnes brokered the deal. The buyer and seller were not disclosed.

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AcquisitionsMultifamilyNew HampshireNortheast

NEPCG Arranges $3.8M Sale of Multifamily Portfolio in Southern New Hampshire

by Taylor Williams

NEWTON AND KINGSTON, N.H. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the $3.8 million sale of a portfolio of six multifamily buildings totaling 24 units in the southern New Hampshire communities of Newton and Kingston. Drew Kirkland, Francis Saenz and Jim Casey of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The names of the properties were also not disclosed.

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AcquisitionsCaliforniaOfficeWestern

AMDA College of the Performing Arts Completes Sale-Leaseback of Hollywood Office Building

by Jeff Shaw

LOS ANGELES — AMDA College of the Performing Arts has executed a sale-leaseback agreement at the close of escrow on its current space at 1777 Vine St. in Hollywood’s downtown core.  The 39,248-square-foot, five-story building sold for $23 million. AMDA signed an 18-year lease at the property.  Avison Young’s Chris Bonbright and Chase Gordon represented AMDA. Craig White of Sotheby’s International Realty represented the buyer, J&L Realty Partners.

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AcquisitionsCaliforniaMultifamilyWestern

Kidder Mathews Arranges $17.5M Sale of The Mint Apartment Complex in Downtown Los Angeles

by Jeff Shaw

LOS ANGELES — Kidder Mathews has arranged the sale of The Mint, a 42-unit multifamily property in downtown Los Angeles. A local investor acquired the asset for $17.5 million.  The community is located at 1136 W. 6th St. Originally constructed in 1923 as an office building, it underwent a $12 million renovation in 2016. The project included structural upgrades, seismic retrofit work, and significant building system upgrades to electrical, elevators, and plumbing.  Kidder Mathews’ Janet Neman and Angelica Gotzev represented the seller, a real estate investment firm managing assets throughout the U.S. and Europe. Jason Aftalion of Teva Properties was an advisor to the seller and provided management services for the asset.

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