DENVER — Cogir Senior Living and Ryan Cos. have opened ACOYA Cherry Creek, a senior living community located at 301 S. Harrison St. in Denver. ACOYA Cherry Creek offers 137 independent and assisted living apartments. The community features full-size residential kitchens, multiple dining venues, an art room, a salon, club room, wellness area and an outdoor bar with a view of the Rocky Mountains.
KENT, WASH. — Institutional Properties Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Atrium on James, a multifamily property in Kent, midway between Seattle and Tacoma. A tenants-in-common group managed by Open House Westwood LLC sold the asset to FPA Multifamily LLC for $60.5 million, or $201,667 per unit. FPA Multifamily LLC purchased the property on behalf of its Opportunity Fund VII, which has acquired $1.5 billion of assets to date. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nicholas Ruggiero and Anthony Palladino of IPA represented the seller and procured the buyer in the deal. Built in 1989 on 21.5 acres, Atrium on James features 300 one-, two- and three-bedroom apartments, averaging 835 square feet with wood-burning fireplaces; private decks and patios with storage closets; walk-in closets; and washers and dryers. Community amenities include a large clubhouse, outdoor swimming pool, leasing office, resident lounge, business center, fitness center, playground and a sports court.
LAS VEGAS — SRS Real Estate Partners has brokered the sale of a retail property, located at 8880 S. Rainbow Blvd. in Las Vegas. Situated on 0.77 acres, Conoco occupies the 3,500-square-foot property under a 20-year, absolute triple-net lease with LV Petroleum LLC, a franchisee gas station operator with more than 30 locations. Las Vegas-based Kingsbarn Realty Capital sold the asset to a Las Vegas-based private investor for $7.1 million. Patrick Luther of SRS Capital Markets represented the seller in the deal.
ALBUQUERQUE, N.M. — Ariel Property Advisors has arranged a $5.5 million cash-out refinancing for Guadalupe Plaza, a shopping center in Albuquerque. The grocery-anchored plaza features 87,000 square feet of retail space. Matt Swerdlow, Matthew Dzbanek and Rhea Vivek of Ariel Property’s Capital Services Group secured the financing for the borrower, a New Jersey-based investor. The 15-year loan includes one year of interest-only payments and a 30-year amortization schedule at a 75 percent loan-to-value ratio with no prepayment penalty.
GREELEY, COLO. — Marcus & Millichap has arranged the sale of a 15-year, absolute triple-net ground lease for a Ent Credit Union-occupied property in Greeley, southeast of Fort Collins. A developer sold the asset to an undisclosed buyer for $2.2 million. Drew Isaac and Ian Hicks of Marcus & Millichap’s Denver office represented the seller in the deal. Located at 10th Street Road, Ent Credit Union is part of a mixed-use development that features a Starbucks Coffee, QuikTrip, 177 single-family homes and 189 apartments.
OSAGE BEACH, MO. — Driftwood Capital has received a $60.5 million loan for the refinancing of the Margaritaville Lake Resort, Lake of the Ozarks. The 520-room resort is located in Osage Beach, a central Missouri city situated along the Lake of the Ozarks. Located at 494 Tan Tar A Drive, the property includes a full-service marina, championship golf course, indoor water park, spa and seven restaurants and bars. Driftwood acquired the asset in 2017 and rebranded it from the Tan-Tar-A Resort into a Margaritaville hotel. Michael Weinberg and Scott Wadler of Driftwood worked with Alec Fox of Berkadia to secure the loan through Goldman Sachs Bank USA and Starwood Mortgage Capital. The five-year loan features interest-only payments for the full term.
COUNTRY CLUB HILLS, ILL. — Chicagoland Quad Cities Express Inc., a local warehousing and trucking company, has signed a 140,000-square-foot industrial lease at LogiPark 57-80 in the Chicago suburb of Country Club Hills. Logistics Property Co. (LPC) owns the 1.2 million-square-foot, three-building development, which is now fully leased. Aaron Martell and Ben Fish of LPC worked with Irv Gilner of Transwestern to lease the space. George Cibula and Luke Ferzacca of DarwinPW Realty/CORFAC International represented the tenant. Chicagoland Quad Cities Express will consolidate two of its locations into the new space, which offers immediate access to I-57 and I-80.
GLENVIEW, ILL. — PREMIER Design + Build Group has begun work on a retail showroom renovation and expansion project for Abt Electronics in the Chicago suburb of Glenview. Abt is a retailer of electronics, appliances and home goods. The company’s showroom totals 114,000 square feet. PREMIER will expand the second floor of the showroom, adding 41,316 square feet with an elevator and restroom facilities. The property will remain open throughout construction. Cornerstone Architects Ltd. is the project architect. Completion is slated for the third quarter of this year.
OCONOMOWOC, WIS. — Wangard Partners and Kraus-Anderson have completed the Veterans Affairs (VA) healthcare clinic at Olympia Fields in Oconomowoc, about 34 miles west of Milwaukee. The 9,991-square-foot clinic will be leased by the Veterans Health Administration and operated by the Clement Z. Zablocki VA Health Care System. Designed by Plunkett Raysich Architects, the $5 million facility features reception and waiting areas, conference rooms, exam rooms, primary care, women’s health services, mental health services, consultation rooms, telehealth, a staff lounge and team workrooms. Construction began in May 2023 and was completed one month ahead of schedule. Wangard is the developer of Olympia Fields, a mixed-use project that includes The Locklyn apartment community and a Sendik’s Food Market. Plans also call for a hotel, medical offices, commercial outlets and a recreational bike trail.
CHICAGO — Breneman Capital has sold a 12-unit apartment building located on North Elston Avenue in Chicago’s Avondale neighborhood for $4 million. Breneman originally purchased the property in August 2019 for $3.5 million. Constructed in 2009, the building consists of three two-bedroom units and nine three-bedroom units. Breneman increased rents at the property by 21 percent over the hold period. The asset is one of 23 Chicago multifamily properties that Breneman has acquired since 2013.
