ROSEVILLE AND SAN JOSE, CALIF. — A joint venture between Affinius Capital and Alliance Residential has sold a two-property seniors housing portfolio totaling 545 units in Northern California. The portfolio includes Sonrisa Senior Living in Roseville and The Watermark at Almaden in San Jose. Sonrisa Senior Living comprises 201 independent living units, 120 assisted living units and 24 memory care units across two buildings that were constructed in 2021 and 2023. The Watermark at Almaden, which features 200 independent living, assisted living and memory care units, opened in 2021. Amenities at the communities include outdoor pools, fitness centers, salons and spas, theaters and bocce ball and pickleball courts. Aaron Rosenzweig, Dan Baker and Sandis Seale of JLL Capital Markets arranged the transaction on behalf of the seller. A publicly traded REIT acquired the properties for an undisclosed price. According to a statement released by JLL, the transaction represents one of the largest seniors housing portfolio sales in Northern California in recent years.
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MILPITAS, CALIF. — Newmark has arranged the sale of The Cadillac Court Industrial Portfolio, an industrial campus in Milpitas. An undisclosed seller sold the four-building property to Galvanize Real Estate, the sustainable real estate strategy of Galvanize, for an undisclosed price. Steve Golubchik, Edmund Najera, Darren Hollak and Brendan Raney of Newmark represented the seller in the deal. Approximately 95 percent leased, the 302,447-square-foot campus is adjacent to Interstate 880 and offers immediate access to State Route 237. Built between 1991 and 1994, the property features 61 dock-high doors, 16 grade-level doors and approximately 8,000 amps of power. The campus serves a diverse tenant roster spanning millworker and fabrication, corporate services, technology and distribution uses.
MODESTO, CALIF. — San Francisco-based Tesseract Capital Group has completed the sale of The Marc at 1600 in Modesto to an undisclosed family office for $26.6 million. Located at 1600 Standiford Ave., The Marc at 1600 features 100 one- and two-bedroom apartments with an average size of 798 square feet. Otto Ozen, Brian Nakamura and Nazli Santana of The Mogharebi Group represented the seller in the deal.
LONGMONT, COLO. — Livmark Communities and Hillside Commercial Group have started construction of Fielder at Fox Hill, an apartment and townhome property adjacent to Fox Hill Country Club golf course in Longmont. Landmark Construction Solutions is serving as general contractor and Greystar will manage the completed property. Construction activities began in June with initial site work and infrastructure improvements. Slated for completion in fall 2027, Fielder at Fox Hill will feature 185 units, including townhomes with private yards and two-car garages, across 11 two- and three-story buildings. Community amenities will include a clubhouse, an indoor and outdoor fitness space, a pool and hot tub with cabanas, outdoor fire pits, bike racks and a repair station, a rentable kitchen and game area, coworking space, a sauna, dog wash, pocket parks and pergola areas, electric vehicle chargers in every garage and secure package lockers.
HOUSTON — Austin-based developer OHT Partners has broken ground on Park Row, a 360-unit multifamily project in West Houston. The 14-acre site at 14192 Park Row Blvd. is located in the Energy Corridor, and the development will feature one- and two-bedroom units that will range in size from 702 to 1,257 square feet. Amenities will include a pool, clubhouse, fitness room, coworking space, communal kitchen, package lockers, a dog park, pickleball court and outdoor grilling and dining stations. Meeks + Partners is the project architect, and OHT’s in-house team is serving as the general contractor. A tentative completion date was not announced.
COPPELL, TEXAS — New York City-based Link Logistics has acquired a 291,285-square-foot industrial property in Coppell, located in the northern-central part of the metroplex. Link Logistics acquired the fully leased building at 450 Airline Drive as part of a two-property portfolio deal that also included a 61,111-square-foot building in Austin. Stream Realty Partners brokered the deal. The seller and sales price were not disclosed.
TEMPLE, TEXAS — Marcus & Millichap has brokered the sale of a 71-room hotel in the Central Texas city of Temple. The Holiday Inn Express & Suites in Temple offers a mix of rooms and suites in addition to a pool and a fitness center. Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
FORT WORTH, TEXAS — Lee & Associates has negotiated a 35,000-square-foot industrial lease in northeast Fort Worth. According to LoopNet Inc., the building at 566 N. Beach St. totals 123,450 square feet. Aaron Schulle, Trey Fricke and Reid Bassinger of Lee & Associates represented the undisclosed tenant in the lease negotiations. Nick Talley of LanCarte Commercial represented the landlord, Melvin Evans Warehouses Ltd.
JLL Arranges $102M in Financing for Four-Property Industrial Portfolio Spanning Three States
by Abby Cox
NEW YORK — JLL Capital Markets has arranged a $102 million loan to finance a four-property industrial portfolio spanning Georgia, Florida and South Carolina. Peter Rotchford, Steven Binswanger and Lucas Borges of JLL secured the loan through Canadian Imperial Bank of Commerce (CIBC) on behalf of the borrower, SkyREM. The portfolio, which totals 1.9 million square feet, is currently fully leased to six tenants with a weighted average lease term of more than six years.
DOUGLASVILLE, GA. — Crescent Communities has opened NOVEL Douglasville, a 300-unit multifamily community located in Douglasville, roughly 20 miles west of Atlanta. The new complex is situated within The Trails mixed-use development and sits adjacent to Great Point Studios’ 500,000-square-foot film studio anchored by Lionsgate. NOVEL Douglasville consists of five four-story buildings that feature one-, two- and three-bedroom floorplans. Monthly rental rates begin at $1,500, according to Apartments.com. Amenities include a resort-style swimming pool; pond overlook with grills, a fire pit and seating; open-air event and game lawn; clubroom with a TV, full kitchen and covered porch with an outdoor fireplace; fitness center; coffee café and coworking space; and a dog park, dog wash stations and private, dog-friendly areas. As part of The Trails, NOVEL Douglasville also offers residents access to 60,000 square feet of commercial, office, retail and hotel space, all connected by walking paths. Financial partners for NOVEL Douglasville include Canadian Imperial Bank of Commerce (CIBC), Great Southern Bank and Phoenix Capital Management LLC. Affiliate firm Crescent Communities Construction served as the general contractor for the project.
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