SPICEWOOD, TEXAS — Dallas-based investment firm Hinze Capital has acquired a 222-unit self-storage facility in Spicewood, about 30 miles northwest of Austin. Spicewood Super Storage totals 83,510 net rentable square feet and includes spaces for boat and RV storage. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of self-storage brokerage firm Versal represented the Houston-based seller in the transaction. The team also procured Hinze Capital as the buyer.
WEST TAWAKONI, TEXAS — Marcus & Millichap has brokered the sale of Valor Storage, a 180-unit self-storage facility in West Tawakoni, located about 50 miles east of Dallas. The property was built in 2000 and spans 20,400 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a Dallas-based private investor, in the transaction. The duo also procured the Austin-based buyer. Both parties requested anonymity.
SAN ANTONIO — Sodalis Senior Living has purchased Sodalis at Stone Oak, a 63-unit assisted living and memory care complex in San Antonio. Sodalis is the current operator at the facility, which was built in 2017. The unit mix consists of 42 assisted living residences and 21 memory care units. Evans Senior Investment brokered the transaction. The seller and sales price were not disclosed. At the time of sale, Sodalis at Stone Oak was 95 percent occupied.
THE WOODLANDS, TEXAS — SVN | J. Beard Real Estate – Greater Houston, a locally based brokerage firm, has arranged the sale of Spring Hill Business Park, a 60,000-square-foot industrial flex property located about 30 miles north of Houston in The Woodlands. Neal King of SVN | J. Beard represented the sellers, both of which were local limited liability companies, in the transaction. The buyer was a private partnership. All parties involved in the deal requested anonymity.
IPSWICH, MASS. — MassDevelopment, the state development finance agency and land bank, has provided a $32.5 million tax-exempt bond for Agawam Village, a 94-unit affordable housing complex in Ipswich, located northeast of Boston in Essex County. Agawam Village was built in 1970 and offers one-, two-, three- and four-bedroom units across seven buildings. Specific information on income restrictions was not disclosed. The borrower, a joint venture between an affiliate of The Ipswich Housing Authority and Harborlight Homes of Beverly, will use the financing to acquire and renovate the property. The Massachusetts Department of Housing & Community Development also provided $20.1 million in Low-Income Housing Tax Credit equity for the purchase and rehabilitation.
HIALEAH, FLA. — Terreno Realty Corp. has broken ground on two industrial buildings totaling 364,000 square feet in Hialeah, roughly 13 miles outside Miami. Situated within Countyline Corporate Park, the warehouse buildings, dubbed Building 39 and Building 40, are scheduled for delivery in the first quarter of 2024. VS Real Estate (VSRE) is developing the facilities on behalf of Terreno Realty, and Rycon is serving as the general contractor. Building 39 will comprise 178,000 square feet with a private truck court, and Building 40 will total 186,000 square feet. The warehouses will feature 36-foot clear heights. Countyline Corporate Park Phase IV, which comprises 121 acres, is scheduled for completion in 2025.
RALEIGH, N.C. — Alliance Residential has opened Prose New Hope, a 344-unit apartment community located in northeast Raleigh. The property features residences in one- and two-bedroom layouts with an average size of 1,012 square feet. Amenities at the community include a clubroom with an entertainment kitchen, saltwater pool with sun shelf seating and two outdoor grill stations, a business center, fitness center and a Luxer package system. The project team for the development included Cline Design Associates and engineer McAdams, both of which are based in Raleigh. Leasing rates begin at $1,395 per month, according to the property website.
BEAUFORT, S.C. — Denver-based Forum Capital Advisors LLC has provided a $10.4 million preferred equity investment for the development of a 264-unit multifamily community in Beaufort. Located on Grober Hill Road, the property will be situated within a larger, master-planned community. A construction timeline for the project was not disclosed.
ROCKY MOUNT, N.C. — Marcus & Millichap has arranged the $11.8 million sale of Sutter’s Creek Plaza, a 210,482-square-foot shopping center located at 506 Sutter’s Creek Blvd. in Rocky Mount. Tenants at the property include Big Lots, Tractor Supply Co., Jo-Ann Fabrics and Harbor Freight Tools. French Traver and Kodi Traver of Marcus & Millichap represented the seller, a Florida-based private investor, in the transaction. Ben Yelm assisted in closing the sale as Marcus & Millichap’s North Carolina broker of record. A New York-based private investor acquired the center.
JOHNSON CITY, TENN. — Blue Vista Capital Partners has acquired Stoneybrook Heights Apartments, an 88-unit multifamily community located in Johnson City. Blue Vista purchased the mixed-income property in partnership with Standifer Capital. Built in 1998, Stoneybrook Heights comprises 11 two-story buildings and a single-story leasing office, with apartments averaging 1,032 square feet in two-, three- and four-bedroom layouts. Originally constructed as affordable housing, the community will become a fully market-rate property in the second half of 2024. Amenities at the property include a clubhouse and green space for pets. The seller and sales price were not disclosed.