SAN ANTONIO — Newmark has arranged the sale of Trailside, a 240-unit apartment community in northwest San Antonio. The property offers one- and two-bedroom units that range in size from 662 to 982 square feet and amenities such as a pool, fitness center, business center, clubhouse and outdoor grilling and dining stations. Jim Young, Matt Michelson and Chase Easley of Newmark represented the undisclosed seller in the transaction. The buyer was a joint venture between private equity real estate firm Cottonwood Group and Dallas-based Texsun Holdings. Trailside was 94 percent occupied at the time of sale.
WESTMINSTER AND ENGLEWOOD, COLO. — CA Ventures has sold its Anthology of Westminster and Anthology of Englewood senior living assets to Harrison Street. “Anthology’s Westminster and Englewood assets have leased incredibly well — particularly having opened their doors at the onset of the COVID-19 pandemic in February 2020,” says Justin Dickinson, president of Anthology Senior Living. “The strong financial performance of each asset despite a volatile global macroeconomic environment and never-before-seen headwinds across the industry is a testament to both our investment strategy and the talent of our team.” The Westminster community totals 137 units nine miles northwest of downtown Denver near a prominent retail corridor and residential neighborhoods. The upscale senior living community includes 107 assisted living units and 30 memory care units. The Englewood community totals 130 units seven miles south of downtown Denver and features unobstructed views of the Rocky Mountains and Cherry Hills Country Club. The property comprises 106 assisted living units and 24 memory care units across seven stories.
TRENTON, N.J. — CBRE has brokered the sale of Colonial Gardens and Grand Court Villas, two multifamily properties totaling 160 units in Trenton, for a combined price of $20.5 million. Colonial Gardens totals 97 units in primarily one- and two-bedroom formats. Grand Court Villas was constructed in the 1930s and offers 63 loft-style apartments. Rich Gatto, Fahri Ozturk and Zach McHale of CBRE represented the seller, Metropolitan America, in the deals. The team also procured the separate buyers, both of which requested anonymity.
CLIFTON, N.J. — NAI Hanson has negotiated the sale of a 62,535-square-foot medical office building in the Northern New Jersey community of Clifton. Darren Lizzack and Randy Horning of NAI Hanson represented the buyer, Rendina Healthcare Real Estate, in the transaction. First Equity Development Co. sold the property, which recently underwent a capital improvement program, for an undisclosed price.
NASHVILLE, TENN. — Global real estate investment firm Northwood Investors LLC has acquired Fifth + Broadway, a newly developed mixed-use project in Nashville. The purchase price was $715 million, according to the Nashville Post. Brookfield Properties, which developed and operated the asset, completed construction in 2021. Northwood purchased the property in its entirety, including the retail portion, 501 Commerce office tower and The Place residences, from a subsidiary of Brookfield. Fifth + Broadway is one of the largest single-phase mixed-use developments in the history of the city and the state of Tennessee, according to Northwood. The project, which is located on the six-acre site that formerly housed the Nashville Convention Center, features 250,000 square feet of retail and entertainment space; the 56,000-square-foot National Museum for African American Music; 367,000 square feet of Class A office space; 381 apartment units; and more than 2,000 parking spaces. Pacific Life provided acquisition financing for the transaction. The Nashville Convention Center closed when the 2.1 million-square-foot Music City Center opened a block away in 2013. Bridgestone Arena, home of the NHL’s Nashville Predators, fills the block between the Fifth + Broadway and Music City Center. Ryman Auditorium, the legendary music venue and home of …
MEDLEY, FLA. — CBRE has arranged the sale of a 12-building industrial park in the Miami suburb of Medley totaling nearly 1.1 million square feet. Boston-based TA Realty purchased the portfolio from an unnamed global investment advisor for an undisclosed price. José Lobón, Trey Barry, Frank Fallon, Royce Rose and Devin White of CBRE represented the seller in the transaction. Situated off Okeechobee Road, the park was fully leased at the time of sale to 46 tenants in the aviation, home design and improvement, third party logistics and food distribution industries.
CHARLESTON, S.C. — Highland Ventures has purchased 174 Meeting, a 47,113-square-foot boutique office building in historic downtown Charleston. Cobalt Property Group sold the property to Highland for $16.8 million. Matt Smith, Patrick Gildea, Grayson Hawkins, Robert Hardaway, Charles Carmody and Ryan Carmody of CBRE represented the seller in the transaction. Insite Properties advised Highland Ventures. Built in 2014 near the intersection of Meeting and Market streets, 174 Meeting was fully leased at the time of sale to tenants including Truist Bank, Thrive Co-Working, Stifel Financial Corp. and Evening Post Industries. The property features three levels of office space above a ground-level bank, lobby and parking.
WASHINGTON, D.C. — Northmarq has brokered the sale of a 4,403-square-foot retail condo on the ground floor of the Metropole Condominiums located at 1515 15th St. NW in downtown Washington, D.C. Built in 2008 in the city’s Logan Circle neighborhood, the property was fully leased at the time of sale to TD Bank. Isaiah Harf of Northmarq represented the seller, a private investor based in Maryland, in the transaction. The California-based, 1031 exchange buyer acquired the asset for approximately $7.6 million.
ROMEOVILLE, ILL. — JVM Realty Corp. has acquired Seasons at Romeoville, a 240-unit luxury apartment property in the Chicago suburb of Romeoville. Fiduciary Real Estate Development Inc. was the seller. JVM plans to rename the community as The Bluffs. Built in 2021, the property features amenities such as a fitness center, clubhouse, pool, outdoor living area, dog park and pet washing area. Monthly rents start at $1,575, according to Apartments.com. Wick Kirby, Amanda Friant and Kevin Girard of JLL represented the seller. With this latest acquisition, JVM now owns and manages seven apartment communities in Illinois and 22 properties representing $1.6 billion in assets under management throughout the Midwest.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of a 108,951-square-foot industrial building located at 1000 NE 28th St. in Fort Worth. The property was originally built on 9.4 acres in 1963. Adam Abushagur, Davis Cagle and Tyler Ranft of Marcus & Millichap represented the seller, the former owner and occupant of the property, in the transaction. Additional terms of sale were not disclosed.