Wednesday, April 8, 2026
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Acquisitions

AcquisitionsFloridaMultifamilySoutheast

Newmark Negotiates $98M Sale of Luma Headwaters Apartments in Orlando

by John Nelson

ORLANDO, FLA. — Newmark has brokered the $98 million sale of Luma Headwaters, a 328-unit multifamily community located at 4000 Headwaters Way in Orlando. Scott Ramey, Brad Downing, Patrick Dufour, Paul Grant and Ryan Moody of Newmark represented the seller, Waypoint Residential, in the transaction. Newmark also arranged a Freddie Mac loan assumption process and secured additional financing on behalf of the buyer, Houston-based Venterra Realty. Matt Williams, Kyle Schlitt, Rob Wright and James Maynard of Newmark arranged the $5.7 million supplemental loan.

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AcquisitionsRetailSoutheastVirginia

Divaris Arranges $8.2M Sale of Yorktown Shopping Center in Virginia

by John Nelson

YORKTOWN, VA. — Divaris Real Estate’s Investment Sales Group has brokered the sale of The Villages at Kiln Creek, a 45,255-square-foot shopping center located in Yorktown, about 13 miles north of Newport News, Va. Jason Oliver, Rachel Salasky and George Fox of Divaris represented the seller, Glazer Properties, in the transaction. Liberty Investment Partners acquired the property for $8.2 million. The center was fully leased at the time of sale to tenants including Riverside Health System, Guitar Center and McCormick Paint. George Fox and Caroline Zarpas of Divaris will handle leasing at the center on behalf of Liberty Investment Partners.

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AcquisitionsFloridaMultifamilySoutheast

Northmarq Brokers Sale of 228-Unit Caroline Apartments in Lakeland, Florida

by John Nelson

LAKELAND, FLA. — Northmarq has arranged the sale of The Caroline, a recently completed apartment community comprising 228 units in Lakeland, roughly 40 miles east of Tampa. Luis Elorza, Justin Hofford and Kevin Mosher of Northmarq represented the buyer, Topaz Capital Group, which acquired the property for an undisclosed price. Located at 1906 Griffin Road, the community features units in one-, two- and three-bedroom layouts, with an average unit size of 1,161 square feet. Amenities include a clubhouse, pool, an outdoor kitchen and entertainment space, pet park, fitness center, playground and wetland boardwalk.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 477-Unit Self-Storage Facility in San Antonio

by Taylor Williams

SAN ANTONIO — Marcus & Millichap has brokered the sale of Noah’s Ark Self Storage, a 477-unit facility located in the Stone Oak neighborhood of San Antonio. The facility was built on 1.2 acres in 2013 and spans 57,219 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a locally based limited liability company, in the transaction. The duo also procured the buyer, a publicly traded REIT. Both parties requested anonymity.

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AcquisitionsMultifamilyTexas

CIM Group Sells 246-Unit Ashton on West Apartments in Houston

by Taylor Williams

HOUSTON — Los Angeles-based investment firm CIM Group has sold Ashton on West, a 246-unit apartment community located in the Montrose neighborhood of Houston. The garden-style property offers one- and two-bedroom units and amenities such as a pool, clubhouse, fitness center, outdoor grilling and dining stations and a dog park. The buyer and sales price were not disclosed. CIM Group originally acquired the asset in 2013.

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AcquisitionsHospitalityMichiganMidwest

Bedrock Acquires 108-Room Roberts Riverwalk Hotel in Detroit’s East Riverfront Neighborhood

by Kristin Harlow

DETROIT — Bedrock has acquired the Roberts Riverwalk Hotel located at 1000 River Place in Detroit’s East Riverfront neighborhood. The purchase price was undisclosed. The seller was Michael Roberts, a St. Louis-based business mogul, according to Crain’s Detroit Business. The 108-room hotel features 5,500 square feet of banquet and event space as well as 126 parking spaces. Bedrock says this acquisition aligns with its mission to further position the riverfront as an ideal site for sustainable urban development. In the East Riverfront area, Bedrock has previously purchased the former UAW-GM Center for Human Resources and a portfolio of properties previously owned by the Stroh family. Bedrock plans to make additional updates regarding the riverfront in 2023. Bedrock, the real estate arm of Rocket Mortgage founder Dan Gilbert, maintains a portfolio of more than 19 million square feet of office, retail and residential space.

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AcquisitionsIndianaIndustrialMidwest

IPA Brokers Sale of 801,218 SF Industrial Facility in Elkhart, Indiana

by Kristin Harlow

ELKHART, IND. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of an 801,218-square-foot industrial facility in Elkhart for an undisclosed price. Completed in October, the build-to-suit is home to a recreational vehicle tenant. The property, which includes a showroom and office as well as warehouse and distribution space, features a clear height of 30 feet, 56 dock-high doors, a 194-foot truck court and seven drive-in overhead doors. Peter Bauman and Tivon Moffitt of IPA represented the seller and procured the buyer, neither of which were disclosed.

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AcquisitionsIndianaMidwestOffice

Government Investment Partners Buys Two Indianapolis Office Properties for $8.2M

by Kristin Harlow

INDIANAPOLIS — Government Investment Partners (GIP) has purchased two adjacent office properties in Indianapolis for $8.2 million. The buildings are located at 4150 and 4160 N. Keystone Ave. just east of Fall Creek Parkway near the Indiana State Fairgrounds. MS Land Holdings LLC sold the 60,000-square-foot building at 4160 N. Keystone, which is fully leased to the State of Indiana on behalf of the Indiana Department of Child Services. LNR Partners sold the other building, which totals 95,157 square feet and is roughly 40 percent leased. It is also home to Department of Child Services offices as well as the Indianapolis Metropolitan Police Department. GIP, which specializes in commercial properties leased to federal, state and local government agencies, now maintains a portfolio of more than 30 buildings in 18 states.

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AcquisitionsIndustrialMassachusettsNortheast

Burgess Properties Negotiates $24.4M Sale of Industrial Property in Malden, Massachusetts

by Taylor Williams

MALDEN, MASS. — Locally based brokerage firm Burgess Properties has negotiated the $24.4 million sale of a 64,300-square-foot industrial property located north of Boston in Malden. The facility sits on 3.4 acres and is fully leased to Sunsetter Products, a provider of awnings. Boston-based Quaker Lane Capital purchased the asset from an undisclosed seller. Steve Nohrden of Burgess Properties brokered the deal.

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AcquisitionsNew JerseyNortheastOffice

Cushman & Wakefield Brokers $17.8M Sale of Office Building in Rochelle Park, New Jersey

by Taylor Williams

ROCHELLE PARK, N.J. — Cushman & Wakefield has brokered the $17.8 million sale of Park 17, a 105,000-square-foot office building in the Northern New Jersey community of Rochelle Park. The five-story building is home to tenants such as the Bergen County Board of Social Services and St. Joseph’s University Medical Center. Andy Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso and Seth Zuidema of Cushman & Wakefield represented the seller, GHP Office Realty LLC, in the transaction. The buyer was not disclosed.

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