Acquisitions

Security Properties Acquires 304-Unit Brightleaf at Lakeline Apartments in North Austin

by Taylor Williams January 6, 2023

AUSTIN, TEXAS — Seattle-based investment firm Security Properties has acquired Brightleaf at Lakeline, a 304-unit apartment complex in North Austin. Completed in 2022, Brightleaf at Lakeline consists of three buildings that house one- and two-bedroom units on a 12.3-acre site. Residences average 880 square feet and are furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a pool, fitness center, clubhouse, business lounge, outdoor grilling and dining areas and a pet park. San Antonio-based multifamily owner-operator Embrey sold the property for an undisclosed price.

January 6, 2023

Acquisitions Industrial Self-Storage Texas

Versal Arranges Sale of 129-Unit Self-Storage Facility in Magnolia, Texas

by Taylor Williams January 6, 2023

MAGNOLIA, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Big League Storage, a 129-unit facility located about 45 miles northwest of Houston in Magnolia. The facility spans 22,800 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, a Texas-based entity doing business as Big League Enterprises LLC, in the transaction. The team also procured a North Carolina-based limited liability company as the buyer.

January 6, 2023

Acquisitions Industrial Texas

Partners Brokers Sale of 36,240 SF Industrial Building in Metro Houston

by Taylor Williams January 6, 2023

NEW CANEY, TEXAS — Partners, the locally based investment and advisory firm formerly known as NAI Partners, has brokered the sale of a 36,240-square-foot industrial building in New Caney, a northeastern suburb of Houston. The facility sits on 9.3 acres at 22216 McCleskey Road. Zane Carman and Clay Pritchett of Partners represented the buyer, Quality Linings & Fabrication Inc., in the transaction. Pamela Morales of Keller Williams Commercial represented the undisclosed seller.

January 6, 2023

Acquisitions Industrial New Jersey Northeast

Colliers Brokers 67,260 SF Industrial Sale-Leaseback in Cinnaminson, New Jersey

by Taylor Williams January 6, 2023

CINNAMINSON, N.J. — Colliers has brokered a 67,260-square-foot industrial sale-leaseback in the Southern New Jersey community of Cinnaminson. The property at 1450 Taylors Lane sits on four acres and features a clear height of 24 feet, nine loading docks and three drive-in doors. An affiliate of Massachusetts-based Northbridge Partners purchased the property from Actega North America, a provider of specialty coatings, inks and adhesives for a variety of industries. Richard Gorodesky of Colliers brokered the deal.

January 6, 2023

Acquisitions Midwest Missouri Multifamily Northmarq

Northmarq Arranges $70M Sale of Luxury Apartment Complex in St. Peters, Missouri

by Kristin Harlow January 6, 2023

ST. PETERS, MO. — Northmarq has arranged the $70 million sale of Bold on Blvd, a 272-unit luxury apartment complex in the St. Louis suburb of St. Peters. Built in 2022, the property is located at 1100 St. Peters Centre Blvd. The community was roughly 80 percent leased at the time of sale. Parker Stewart, Dominic Martinez and Alex Malzone of Northmarq represented the seller, TWG Development. A private New Jersey-based firm was the buyer. David Garfinkel led a Northmarq team that arranged acquisition financing on behalf of the buyer.

January 6, 2023

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $23M Sale of Multifamily Portfolio in Chicago

by Kristin Harlow January 6, 2023

CHICAGO — Kiser Group has brokered the sale of a five-building multifamily portfolio in Chicago for $23 million. The 198 units are located within the West Rogers Park, Bowmanville and Budlong Woods neighborhoods and are largely vacant. Danny Logarakis of Kiser brokered the sale. The seller was a private individual that had owned the properties for more than 40 years. The buyers, Sam Trachtman and Stak Holdings LLC, plan to renovate the kitchens, bathrooms and common areas.

January 6, 2023

Acquisitions Arizona Multifamily Western

Tides Equities Buys Three Apartment Communities in Metro Phoenix

by Amy Works January 6, 2023

PHOENIX AND GLENDALE, ARIZ. — Tides Equities has purchased three multifamily properties in Phoenix and Glendale from Denver-based PaulsCorp for an undisclosed price. The portfolio includes 445 studio, one- and two-bedroom units. Constructed in 1985 and 1986, the communities were each at least 95 percent occupied at the time of sale. The portfolio includes: The Perry, a 148-unit property at 6231 N. 67th Ave. in Glendale Serena Park, a 141-unit community at 8546 N. 59th Ave. in Glendale Red Sage, a 156-unit asset at 5704 W. Thomas Road in Phoenix Brad Cooke, Cindy Cooke, Matt Roach and Chris Roach of Colliers Arizona handled the transaction.

January 6, 2023

Acquisitions California Industrial Restaurant Retail Western

Guthrie Development Buys Pacific Tustin Commercenter Business Park in California for $19.7M

by Amy Works January 6, 2023

TUSTIN, CALIF. — Guthrie Development Co. has acquired Pacific Tustin Commercenter, a Class A, multi-tenant, retail/industrial business park in Tustin. In this transaction, Guthrie purchased the buildings and land from two different sellers for $19.7 million, then combined the assets into one business park. The retail and industrial property offers 69,930 square feet of space. Pacific Tustin Commercenter features two multi-tenant industrial buildings and a restaurant, Citrus Café. The industrial buildings are currently 100 percent occupied under long-term leases. The asset is located at 1421, 1451 and 1481 Edinger Ave. in Tustin. Chuck Wilson, Brian Chastain and Clyde Stauff of Colliers International represented Guthrie Development in the transactions.

January 6, 2023

Acquisitions Louisiana Southeast Student Housing

Timberline Real Estate Ventures Sells 432-Bed Student Housing Community Near Louisiana Tech University

by John Nelson January 6, 2023

RUSTON, LA. — Timberline Real Estate Ventures has sold CEV Ruston, a 432-bed community serving students attending Louisiana Tech University in Ruston. Constructed in 2008, the property offers two- and four-bedroom, fully furnished units. Shared amenities include a fitness center, group and private study rooms, a computer center and swimming pool. The community is situated adjacent to campus at 1812 W. Alabama Ave. Scott Clifton, Stewart Hayes, Teddy Leatherman, Kevin Kazlow and Jack Goldberger of JLL represented Timberline in the disposition of the property to Briar Meads Capital. The sales price was not disclosed.

January 6, 2023

Acquisitions Florida Retail Southeast

SRS Brokers $14.4M Sale-Leaseback of Single-Tenant Retail Property in Miami Leased to Walgreens

by John Nelson January 6, 2023

MIAMI — SRS Real Estate Partners’ National Net Lease Group (NNLG) has facilitated the $14.4 million sale of a single-tenant retail property located 3595 Coral Way in Miami. Comprising 16,285 square feet, the property is occupied by the seller, Walgreens, which has signed a new 15-year, corporate guaranteed, triple-net lease. Sean Lutz, Dan Elliot, Matthew Mousavi and Patrick Luther of SRS represented the buyer, a Nevada-based private investor, in the 1031, all-cash transaction.

January 6, 2023

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