Property Type

Capstone Arranges Sale of 319-Unit Apartment Development Underway in Asheville, North Carolina

by John Nelson July 5, 2023

ASHEVILLE, N.C. — Capstone Cos. has arranged the sale of Creekside Luxury Apartments, a multifamily development project located at 2177 Brevard Road in Asheville. Upon completion, which is scheduled for the end of 2025, the property will comprise 319 units. Austin Heithcock, Adam Klenk, Jordan Arand and Josh White of Capstone represented the seller, Advantis, in the transaction. URS Capital, in partnership with PREG-Advantis and its construction arm, BCC Construction Inc., acquired the property for an undisclosed price.

July 5, 2023

Acquisitions Florida Self-Storage Southeast

CBRE Brokers $23.1M Sale of New Self-Storage Facility in Orlando

by John Nelson July 5, 2023

ORLANDO, FLA. — CBRE has brokered the $23.1 million sale of Windermere Storage, an 89,145-square-foot self-storage facility located at 8550 Old Winter Garden Road in Orlando. CBRE’s Self Storage Advisory Group represented the seller, locally based Schrimsher Properties, in the transaction. Wentworth Properties was the buyer. Built in the second quarter of this year, Windermere Storage features a two-story building comprising 609 climate-controlled units ranging in size from 25 to 450 square feet, as well as a 2,000-square-foot office building and 351 parking spaces.

July 5, 2023

Acquisitions Multifamily Texas

SPI Advisory Acquires 228-Unit Apartment Community Near Downtown Dallas

by Taylor Williams July 5, 2023

DALLAS — Texas-based investment firm SPI Advisory has acquired Ivy Urban Living, a 228-unit apartment community located just north of downtown Dallas. Built in 1988, the property offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops, tile backsplashes and private balconies/patios. Amenities include a pool, fitness center, business center, pet park and access to package lockers. The seller and sales price were not disclosed.

July 5, 2023

Development Healthcare Texas

Partnership Completes 59,741 SF Medical Office Building in San Antonio

by Taylor Williams July 5, 2023

SAN ANTONIO — A partnership between Chicago-based Remedy Medical Properties and San Antonio-based Medical Facilities Holdings has completed a 59,741-square-foot medical office building in San Antonio’s Westover Hills neighborhood. The facility, which includes an ambulatory surgery center for Physician Surgical Network Affiliates, features a 40-foot grand entrance lobby, four operating rooms and a café with patio seating.

July 5, 2023

Leasing Activity Office Texas

Webber LLC Signs 46,164 SF Office Lease Renewal in The Woodlands, Texas

by Taylor Williams July 5, 2023

THE WOODLANDS, TEXAS — Construction firm Webber LLC has signed a 46,164-square-foot office lease renewal at Hughes Landing, a 79-acre campus located about 30 miles north of Houston in The Woodlands. Jerrod McQuain, Paul Penland and Mark Reilly of JLL represented Webber in the lease negotiations. Robert Parsley, Norman Munoz and Jillian Fredericks of Colliers represented the landlord, The Howard Hughes Corp.

July 5, 2023

Acquisitions Retail Texas

Partners Arranges Sale of 27,478 SF Retail Building in San Antonio

by Taylor Williams July 5, 2023

SAN ANTONIO — Partners Real Estate has arranged the sale of a 27,478-square-foot retail building located in the Mission San Jose neighborhood of San Antonio. According to LoopNet Inc., the property at 3371 Roosevelt Ave. was built on two acres in 1965. Phil Crane and Dan Gostylo of Partners represented the buyer, Garcia Properties Inc., in the transaction. Andrew Price of CBRE represented the undisclosed seller.

July 5, 2023

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 26,148 SF Shopping Center in Fort Worth

by Taylor Williams July 5, 2023

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Sycamore Village Shopping Center, a 26,148-square-foot retail property in Fort Worth. The site at 3515 Sycamore School Road spans 2.6 acres and is located on the city’s southwest side. Tenants at the property include Cricket Wireless, H&R Block and The UPS Store. Joe Santelli of Marcus & Millichap represented the undisclosed seller in the transaction.

July 5, 2023

Acquisitions California Multifamily Western

JLL Arranges $70M Sale of Silicon Valley Multifamily Portfolio

by Jeff Shaw July 5, 2023

CAMPBELL AND SANTA CLARA, CALIF. — JLL Capital Markets has arranged the sale of three garden-style apartment communities in Silicon Valley for approximately $70 million. The portfolio includes: Appletree, a 72-unit community in Campbell; Vista Point, a 68-unit property in Santa Clara; and Cedartree, a 50-unit asset that is also located in Santa Clara. All properties offer one- and two-bedroom floor plans. Ryan Wagner, Brandon Geraldo and Matt Kroger led the team that represented the private seller and procured three unique buyers. Further details were not disclosed.

July 5, 2023

Arizona Development Multifamily Western

Thompson Thrift Plans 308-Unit Stella Multifamily Property in San Tan Valley, Arizona

by Jeff Shaw July 5, 2023

SAN TAN VALLEY, ARIZ. — Thompson Thrift is set to begin construction on Stella, a 308-unit apartment community in the Phoenix suburb of San Tan Valley. Stella will comprise 12 two- and three-story buildings, as well as green spaces, a pool, two pickleball courts and two dog parks. Units will come in one-, two- and three-bedroom floor plans and include features such as quartz countertops, hardwood-style flooring, stainless steel appliances, internet access, ceiling fans, washers and dryers, smart thermostats and an Alexa-compatible smart hub. Stella is scheduled to open for residency in late 2024. It will be Thompson Thrift’s sixth community in Arizona.

July 5, 2023

Acquisitions California Multifamily Western

CBRE Brokers $12.1M Sale of Two Apartment Communities in Orange County, California

by Jeff Shaw July 5, 2023

COSTA MESA AND ANAHEIM, CALIF. — CBRE has arranged the sale of two multifamily communities totaling 38 units in Orange County for $12.1 million. The communities traded hands in a 1031 exchange. All parties involved in both transactions were private investors based in Southern California. Dan Blackwell, Mike O’Neill and Andrew Boukather represented both the buyer and seller of 18 units at 1800 W. Glencrest Ave. in Anaheim for $4.8 million. The property was built in 1962 and comprises a pair of two-story buildings. The buildings recently underwent renovations including new flooring, appliances, bathrooms, kitchens, windows, stairs, railings and fascia. Blackwell and O’Neill also represented the seller of the 20 units at 1887 Monrovia Ave. in Costa Mesa. The asset traded hands for $7.3 million. Built in 1959, 1887 Monrovia Ave. comprises one two-story building with a pool, barbeque area and a community laundry room. Recent updates to select units include granite countertops, wood-style flooring and stainless-steel appliances.

July 5, 2023

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