MIAMI — Colliers has facilitated the sale of a multifamily portfolio comprising 42 units and seven buildings located at 10710, 10742 and 10752 S.W. 5th St. in Miami. An entity doing business as San Miguel Investments Ltd. sold the properties for $10.5 million to an undisclosed buyer. Mitash Kripalani of Colliers represented the seller in the transaction, and Virgilio Fernandez of Colliers represented the buyer. The buildings, constructed between 1970 and 1972, occupy a 1.3-acre site with a combined lot size of 57,950 square feet. Units at the properties include one- and two-bedroom layouts.
TAMPA, FLA. — SRS Real Estate Partners’ National Net Lease Group has brokered the sale of a 4,000-square-foot single-tenant property located at 12815 Bayou Branch Ave. in Tampa. Banfield Pet Hospital, which is engaged in a 10-year lease, occupies the property. Patrick Nutt, William Wamble and Daniel Becker of SRS arranged the transaction on behalf of the seller, locally based Soho Capital. A private, Florida-based investor purchased the property for $2.8 million in a 1031 exchange. The property is located across the street from North Bay Shopping Center, a 270,000-square-foot retail center anchored by Publix and Lowe’s Home Improvement.
ORANGE, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Foxborough Apartments, a multifamily property in Orange. Irvine-based Advanced Real Estate acquired the asset, which will be rebranded as Grove House, for an undisclosed price. Built in 1964, the 23-building property features 90 garden-style apartments with garage parking, two swimming pools, a fitness center, storage space and a grilling area. The 1,200-square-foot apartments have wood-burning fireplaces, dishwashers, washers and dryers. Advanced plans to renovate the asset by the addition of central air conditioning, new windows, new cabinetry, flooring, appliances, large fenced-in patios, upgraded landscaping, a modern paint scheme, signage and pool enhancements. Kevin Green, Joseph Grabiec and Greg Harris of IPA represented the undisclosed seller and procured the buyer in the deal.
SAN DIEGO — Cushman & Wakefield has facilitated the sale of Loma Starr, a two-building office and medical office property at 3051-3055 Rosecrans St. and 3065 Rosecrans Place in San Diego’s Midway District. Loma Starr LLC, a private investor group, sold the asset to Crown Point Systems for $7.4 million. Totaling 28,630 square feet, the recently renovated property was 91.7 percent leased at the time of sale. The buyer plans to occupy space at the property for its own offices. Peter Curry, Brooks Campbell and Kevin Cuff of Cushman & Wakefield’s Private Capital Group in San Diego represented the seller, while Bret Morriss of Cast Capital represented the buyer in the transaction.
PALM SPRINGS, CALIF. — The Mogharebi Group (TMG) has arranged the sale of Sunnyview Villa Apartments, a garden-style multifamily community in Palm Springs. A California-based affordable housing investor acquired the property from California- and Utah-based private investor sellers for $11.2 million. Situated on 3.6 acres at 2900 N. Indian Canyon Drive, the property’s 44 two- and three-bedroom apartments are spread across seven two-story walk-up residential buildings. The affordable housing community is less than three miles from shopping, dining and entertainment opportunities in downtown Palm Springs. Otto Ozen of TMG represented the sellers in the deal.
LAYTON, UTAH — A local investment and development group has completed the disposition of Storage General – Layton, an 86,105-square-foot self-storage facility located on Antelope Drive in Layton. A REIT acquired the asset for an undisclosed price. Jordan Farrer and Adam Schlosser of Marcus & Millichap represented the seller and procured the buyer in the transaction. Storage General – Layton features 11 single-story buildings offering interior, drive-up, climate-controlled and traditional self-storage units with roll-up doors. The property has cinderblock front dividers with all metal interior walls, slightly pitched standing seam metal roofs, roll-up doors and driveways.
ROSHARON, TEXAS — JLL has negotiated the sale of Savannah HWY6 Storage, a 678-unit facility located south of Houston in Rosharon. The newly built facility comprises six single-story storage buildings on a 6.1-acre site that primarily house climate-controlled units, as well as 900 square feet of office space. Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler of JLL represented the seller, Quintet Capital Group, in the transaction. Dallas-based Montfort Capital Partners purchased the asset for an undisclosed price.
ARLINGTON, TEXAS — National multifamily advisory firm GREA has brokered the sale of Blakely Apartment Homes, a 192-unit multifamily complex in Arlington. According to Apartments.com, the property was built in 1981, features one- and two-bedroom units ranging in size from 575 to 950 square feet and offers amenities such as a pool, fitness center and onsite laundry facilities. Mark Allen of GREA represented the seller, Ashland Greene Capital, in the transaction and procured the undisclosed, locally based buyer.
FRISCO, TEXAS — A partnership between The Corinth Land Co. and locally based investment firm Prattco Creekway Industrial has acquired a 50,000-square-foot property located north of Dallas in Frisco. The facility at 6300 Flyers Way was built on five acres in 2018 and is leased to the Frisco Flyers national volleyball organization. The seller and sales price were not disclosed.
ST. LOUIS PARK, MINN. — Bridge Investment Group’s subsidiary Bridge Office Fund has acquired 10 West End in the western Minneapolis suburb of St. Louis Park. The sales price was undisclosed. The Class A office building rises 11 stories and spans 343,000 square feet. Ryan Cos. US Inc. sold the property in conjunction with The Excelsior Group and Sotarra LLC. The building opened in January 2021. Amenities include a bike room, onsite parking, electric vehicle charging, a fitness center and sky deck. The property is the first Class A office building constructed in the submarket in the last 18 years, according to Ryan. Tom O’Brien, Avery Ticer, Dan Phoel and Jeff Altenau of Cushman & Wakefield represented Ryan in the sale. Bridge now owns more than 1.4 million square feet of commercial real estate space in the Minneapolis market.