CARLSBAD, CALIF. — Cushman & Wakefield has brokered the sale of Raceway Industrial, a Class A logistics facility at 3125 Lionshead Ave. in Carlsbad. An institutional seller sold the asset to a private capital buyer for $76.9 million. Aric Starck and Drew Dobbs of Cushman & Wakefield represented the seller, while Brant Aberg and Bryce Aberg, also of Cushman & Wakefield, represented the buyer in the transaction. Constructed in 2024, the 228,548-square-foot logistics center includes a 4,369-square-foot first-story office and a 4,000-square-foot mezzanine office. The facility also features a clear height of 36 feet, 69 dock-high loading positions, 125-foot concrete truck courts, 370 parking stalls, ESFR sprinkler systems and 4,000 amps of power.
Acquisitions
Redpeak Properties Receives $33.2M in Acquisition Financing for Apartment Community in Denver
by Amy Works
DENVER — Redpeak Properties has obtained $33.2 million in agency acquisition financing for Monaco Row, a garden-style apartment property in Denver. Tony Nargi and Eric Tupler of JLL Capital Market’s Debt Advisory team originated the five-year, fixed-rate Fannie Mae loan, which will be serviced by JLL Real Estate Capital. Located at 4665 S. Monaco St., Monaco Row features 196 one- and two-bedroom apartments spread across 16 residential buildings on 8.9 acres. Many units include direct-access garages and offer Rocky Mountain views. Community amenities include a pool, spa, fitness center, resident lounge and pet spa. The property was built in 2013.
Continental Realty Assets, CP Capital Purchase 336-Unit Apartment Community in Metro Nashville
by John Nelson
ANTIOCH, TENN. — A partnership between Continental Realty Assets (part of Continental Realty Group) and CP Capital has purchased Discovery at Mountain View Apartments, a 336-unit multifamily community located in the Nashville suburb of Antioch. This is the first Nashville-area acquisition for the partnership and its fourth purchase total. The seller and sales price were not disclosed. Delivered in 2008, Discovery at Mountain View offers studio, one-, two- and three-bedroom apartments. Amenities include a clubhouse/leasing office, swimming pool, fitness center, business center and a dog park. Continental Realty Assets plans to modernize the apartment interiors and renovate the property’s exteriors and common areas during its ownership.
JLL Negotiates Sale of 532-Bed Student Housing Property Near Georgia Southern University
by John Nelson
STATESBORO, GA. — JLL has negotiated the sale of Market 100, a 532-bed student housing community located at 100 Bermuda Run Road in Statesboro, less than a half-mile from the Georgia Southern University campus. RDG Student Housing, a division of Redeeming Development Group, purchased the 164-unit property from Preiss for an undisclosed price. The transaction marks the buyer’s first student housing acquisition. Teddy Leatherman, Scott Clifton and Kevin Kazlow of JLL’s student housing capital markets team represented the seller in the transaction. Jayme Nelson and Dan Kearns of JLL arranged a three-year acquisition loan through Bayview Asset Management on behalf of RDG Student Housing. Market 100 was 97 percent occupied at the time of sale. The community features a mix of two-, three- and four-bedroom floorplans with bed-to-bath parity in most units. Onsite amenities include a resort-style pool, sand volleyball court, clubhouse, fitness center, computer lounge, basketball court and a billiards table.
Bluecrest Capital Advisors Acquires 145,000 SF Industrial Facility Near Nashville Airport
by John Nelson
NASHVILLE, TENN. — Locally based Bluecrest Capital Advisors has acquired Royal Parkway I and II, a 145,000-square-foot small-bay industrial property located adjacent to Nashville International Airport, for $12.2 million. The seller was not disclosed. Truxton Trust provided an undisclosed amount of acquisition financing to Bluecrest Capital Advisors, a newly formed company founded by Nashville real estate experts Scott Porter and John Colucci. Porter was formerly a pitcher for the MLB’s Toronto Blue Jays. Royal Parkway I and II is Bluecrest’s second acquisition since its inception earlier this year. Bluecrest plans to invest $6 million in capital improvements to the value-add asset over the next five years, with renovations including exterior upgrades, new interior build-outs, a new roof and a new road. Built in 1990, Royal Parkway I and II sits on a 9.2-acre site and was 85 percent leased at the time of sale.
LAKEVILLE, MINN. — CBRE has arranged the sale of Livery, a 204-unit multifamily property in the Minneapolis suburb of Lakeville. Texas-based RPM Living Investments purchased the asset from Indiana-based Garrett Cos. for an undisclosed price. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented the seller. Built in 2023, the townhome-style property features a range of one-, two- and three-bedroom floor plans averaging 1,117 square feet. Amenities include a yoga room, outdoor fire pit, pool, fitness center and indoor dog spa.
GREEN BAY, WIS. — Hanley Investment Group Real Estate Advisors has brokered the $25.4 million sale of Green Bay Plaza, a 232,796-square-foot shopping center anchored by T.J. Maxx, HomeGoods and Ross Dress for Less in Green Bay. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley, in association with ParaSell Inc., represented the seller, Anenberg Asset Management, a family office based in Newport Beach, Calif. The buyer, Chicago-based Core Acquisitions, was self-represented. Built in 1960 and expanded in 2003, Green Bay Plaza is 89 percent occupied. Additional tenants include Burlington, Dollar Tree, Sierra, Five Below, Crunch Fitness and Skechers Outlet. The property is located two miles from Lambeau Field, home of the Green Bay Packers.
PITTSBURGH — An affiliate of San Antonio-based investment firm LYND Group has acquired Kelly Hamilton Apartments, a 110-unit affordable housing complex in Pittsburgh. The 21-building property is located in the city’s Homewood South neighborhood and offers one-, two- and three-bedroom floor plans. LYND, which plans to implement a capital improvement program, purchased the property through a bankruptcy proceeding in the U.S. Bankruptcy Court for the District of New Jersey.
DUBLIN, OHIO — Woodside Health has acquired Dublin Corners, a three-building retail and medical property located at 5833-5885 Frantz Road in the Columbus suburb of Dublin. The property spans approximately 22,950 leasable square feet on 3.7 acres and is currently fully leased to a mix of tenants in the healthcare, wellness and retail services. A local developer was the seller. Cleveland-based Woodside Health is a private equity firm that invests in healthcare real estate.
BURLESON, TEXAS — Sagora Senior Living has purchased Wilshire Senior Living, a 100-unit community located in Burleson, approximately 15 miles south of Fort Worth. Situated on 25 acres, the property features four-story buildings with independent living apartments, as well as cottages with attached garages. The community, which opened in 2021, also features assisted living and memory care units. Amenities include a theater room, billiards area and a full-service salon. The seller and sales price were not disclosed.