FRANKLIN TOWNSHIP, N.J. — The Garibaldi Group/CORFAC International has completed the $12.3 million sale of a 17.1-acre parcel of land in Franklin Township. The land is fully approved for the development of a 325,000-square-foot facility. Jeffrey Garibaldi and Matthew Kirby of Garibaldi represented the seller, Chestnut Associates, a subsidiary of J.G. Pertucci Co., in the transaction. Dan Frankel of Colliers International represented the buyer, Morgan Stanley Management Services II.
AUGUSTA, MAINE — Joe McCann of Optimum Hotel Brokerage has completed the sale of a Motel 6 in Augusta. The 67-room hotel, which is located along Interstate 95, was bought by a New Jersey owner and operator. The hotel will continue to be operated as a Motel 6. McCann represented the seller, Accor North America in the transaction. The sale price was undisclosed.
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PHILADELPHIA — BPG properties has acquired the assets of Boston Capital Real Estate Investment Trust for $13.30 per share. As part of the acquisition, BPG has also acquired an 11-property multifamily portfolio totaling 3,098 units. The deal is estimated to be a $260 million value. The purchase was made by BPG Investment Partnership VIII VIIIA.
WILMINGTON, DEL. — Mark Thomson, Tom Gorman and Matt Gorman of Marcus & Millichap have completed the $11.2 million sale of Scarborough Park Apartments in Wilmington. The 156-unit apartment community is located at 131 Scarborough Park Dr. and features 129,626-square-feet on 8.88 acres. Tom and Matt Gorman represented the buyer, Trinity Capital, and Thomson represented the seller, Frank Acierno.