LAS VEGAS — Northcap Commercial has brokered the sale of Nellis Gate Apartments, a multifamily property located at 4340 N. Las Vegas Blvd. in Las Vegas. Built in 2002, Nellis Gate Apartments offers 50 units. The asset traded for $4.5 million, or $90,000 per unit. Jerad Roberts, Devin Lee and Robin Willett of Northcap Commercial represented the undisclosed buyer in the deal. The name of the seller was not released.
DELRAY BEACH, FLA. — ANF has delivered Phase I of Parks at Delray, a 43-acre mixed-use development located at 2100 S. Congress Ave. in Delray Beach. ANF worked on behalf of the ownership group, which comprises 13th Floor Investments, Key International, CDS International Holdings and Wexford Capital. The first phase of Parks at Delray, which ANF topped out in September 2023, includes 420 one-, two- and three-bedroom apartments ranging in size from 580 to 1,400 square feet, as well as three-bedroom townhomes ranging in size from 1,670 to 1,770 square feet. Designed by MSA Architects, the community’s resort-style amenities include a clubhouse, fitness center, pool, social lounge and green spaces. When fully built out, Parks at Delray will feature 747 multifamily units, approximately 10 percent of which will be designated as workforce housing.
ARLINGTON HEIGHTS, ILL. — Encore Enterprises Inc. and AmCap Management Holdings LLC, a wholly owned subsidiary of AmCap Management LLC, have purchased a 276,333-square-foot shopping center in the Chicago suburb of Arlington Heights. Named Northpoint Center, the grocery-anchored property is located at the intersection of West Rand and Arlington Heights roads. Tenants include Jewel-Osco, Ross Dress for Less, Marshalls, Chase Bank, Five Below and PopShelf. The seller and sales price were undisclosed.
CINCINNATI — Sonida Senior Living has expanded The Wellington at North Bend Crossing in Cincinnati with the addition of its new Vista building. The four-story building is now welcoming visitors for tours ahead of its anticipated summer opening. The Vista building adds 82 new assisted living and memory care apartments, supporting a maximum occupancy of 113 residents. The expansion will create nearly 65 new jobs in the area. The building features three outdoor spaces, a nearly 1,000-square-foot rehabilitation gym, fitness room, theater, game room, multiple dining venues, a salon and sunrooms on each floor. Responding to frequent requests from the community, Vista will introduce fully furnished assisted living apartments specifically available for temporary stays and respite care. This addition addresses a growing need among local families for flexible, supportive short-term living options. Vista also expands the community’s specialized memory care neighborhood, which utilizes Sonida’s Magnolia Trails program to provide engagement and purpose-driven experiences for individuals living with Alzheimer’s disease and other forms of dementia. With the addition of Vista, The Wellington at North Bend Crossing expands its continuum of care to include a total of 318 independent living, assisted living, memory care and temporary stay/respite care units.
LOMBARD, ILL. — A partnership between Capital Healthcare Properties and HSG Medical has acquired a 21,070-square-foot retail property in the Chicago suburb of Lombard for an undisclosed price. Immediately upon the acquisition, the partnership executed a long-term lease with Duly Health and Care that brings the freestanding property from 33 percent leased to fully occupied. Duly Health and Care is a Chicagoland healthcare provider with more than 1,200 primary care and specialty providers across 50-plus specialties with 150 locations. Located at 2830 S. Highland Ave., the building features additional tenants such as Potbelly and SimonMed Imaging. The buyers plan to make upgrades, including a new parking lot, new roof, enhanced front sidewalks, exterior tuckpointing and landscaping. The property was sold by a special servicer who was represented by Frontline Real Estate Partners. The asset was put under the control of a special servicing agent after the previous owner defaulted on its loan.
SOUTHGATE, MICH. — A soul food restaurant has leased 7,198 square feet of retail space at Eureka Plaza in Southgate, a southwest suburb of Detroit. The lease brings the shopping center to full occupancy. There is still proposed outlot availability at the property, with up to 2,500 square feet with drive-thru capability. Michael Murphy of Gerdom Realty & Investment represented the undisclosed landlord.
CHICAGO — SVN Chicago Commercial has brokered the sale of a 6,200-square-foot industrial building at 1802-1806 W. Chicago Ave. in Chicago’s West Town neighborhood for $1.3 million. The property is slated for an adaptive reuse conversion to multifamily. Tim Rasmussen and Marcus Sullivan of SVN represented the undisclosed seller.
LEBANON, TENN. — CRG has broken ground on the first building within The Cubes at Sparta Pike, a 198-acre industrial park in Lebanon. Known as Building B, the new 520,000-square-foot facility will be the first of four buildings at the park and will feature 40-foot clear heights, staging bays with grade-level doors, deep truck courts, trailer storage, car parking, ESFR sprinklers and high-efficiency LED lighting. The Cubes at Sparta Pike is situated within a mile of I-40 and roughly 24 miles from the Nashville International Airport and will accommodate up to 2.8 million square feet of Class A industrial space. CRG has retained Jim Rodrigues and John Zeffery of Lee & Associates’ Nashville office to market and lease the development. The project team includes CRG’s parent company, Clayco, as the design-builder and Lamar Johnson Collaborative as the project architect. Construction at Building B is expected to be completed in early 2026.
CHICOPEE, MASS. — MassHousing has provided $37.3 million in financing for Singing Bridge Residences, a 105-unit affordable housing project in Chicopee, located near the Massachusetts-New York border. The borrower, a joint venture between Sydney Capital Group LLC and Brisa Builders Development, will develop the complex on a four-acre, riverfront site at 400 Main St. that was previously owned by the city. Other portions of the site will be developed separately to feature a sports complex, brewery and an office building. The unit mix will consist of 16 studios, 21 one-bedroom apartments, 57 two-bedroom residences and 11 three-bedroom apartments and will feature a range of income restrictions. Paul A. Castrucci Architects is designing Singing Bridge Residences, and Western Builders is serving as the general contractor. Completion is slated for summer 2027.
SUMMERVILLE, S.C. — URS Capital Partners has acquired The Palms at Edgewater, a 288-unit apartment community in the Charleston suburb of Summerville, for $58.5 million. The seller was not disclosed. The Huntington, N.Y.-based buyer financed the acquisition with a five-year, fixed-rate agency loan. Built in 2023, Palms at Edgewater features a mix of one-, two- and three-bedroom apartments ranging in size from 778 to 1,200 square feet, according to Apartments.com. Amenities include a pool, fitness center, playground, game room, business center, car wash area and a pickleball court.
