HOUSTON — Blacktop Industrial Trust, a South Florida-based REIT, has purchased the 337,705-square-foot Rosslyn Business Park in northwest Houston. Rosslyn Business Park consists of 11 buildings on a 45-acre site that were fully leased to seven tenants at the time of sale. Buildings feature clear heights of 20 to 55 feet and oversized grade-level doors, and the campus includes outdoor storage space. JLL provided financial advisory services to Blacktop. The seller was Houston-based Clay Development & Construction Inc. The sales price was not disclosed. JLL provided financial advisory services to Blacktop.
MCKINNEY, TEXAS — Greystone has provided a $19.8 million Fannie Mae loan for the refinancing of Legacy on Rockhill, a 128-unit build-to-rent property in McKinney, located north of Dallas. Built on 13.2 acres in 2023, Legacy on Rockhill offers one-, two- and three-bedroom single-family and duplex-style homes with private backyards. Amenities include a pool, fitness center, dog park and a bocce ball court. John Sloot of Greystone originated the debt. The borrower was not disclosed. The property was 94 percent occupied at closing.
EULESS, TEXAS — Canadian investment firm Western Wealth Capital (WWC), which also has an office in Phoenix, has purchased Park Place Townhomes, a 97-unit multifamily asset located near DFW International Airport in Euless. The property was built in 1980 and has an average unit size of 1,116 square feet. WWC partnered with StepStone Group on the deal, which involved the assumption of the existing mortgage. Brian Murphy of Newmark brokered the sale. Katie Runyan of Walker & Dunlop handled the loan assumption.
PLANO, TEXAS — PACE Equity and Lone Star PACE have provided $2.4 million in C-PACE financing for the renovation of Independence Medical Center, a 57,000-square-foot medical office building located north of Dallas in Plano. Planned upgrades include a replacement of HVAC systems, modernization of common areas and the installation of 56 covered parking spaces with solar-paneled rooftops. The property owner was not disclosed.
GREENWICH, CONN. — CBRE has negotiated the $97.5 million sale of The Mill, a 71-unit apartment complex located in the southern coastal Connecticut city of Greenwich. The Mill, which is a redevelopment of a 19th century riverfront industrial building, consists of five buildings that also house 28,653 square feet of retail space across them. The apartments consist of 59 units in the former mill (built in 1881) and a converted office building (built in 1981), plus 12 additional apartments located at 328 Pemberwick Road (built in 1983). Jeffrey Dunne, Eric Apfel, Stuart MacKenzie and Travis Langer of CBRE represented the seller and procured the buyer in the transaction.
CHESTNUT HILL, MASS. — Simon Property Group has begun the redevelopment of The Shops at Chestnut Hill, a shopping, dining and entertainment destination located on the western outskirts of Boston. The project will include a full repainting of the center’s interiors, the installation of a new lighting system, as well as fresh artwork and decor throughout the center, and a refreshing of the indoor garden area. Simon will also upgrade the center’s flooring, facades and restrooms. The project is expected to be substantially complete by the end of the year. The Shops at Chestnut Hill is currently home to about 50 retail and restaurant establishments, including the only Bloomingdale’s in Massachusetts.
WARREN, PA. — Cushman & Wakefield has arranged $25.2 million in financing for an 853,611-square-foot industrial property in Warren, located north of Pittsburgh. According to LoopNet Inc., the complex at 100-200 Murray Drive consists of two buildings that span 304,642 and 548,969 square feet. Building features include clear heights of up to 70 feet and 59 total dock doors. Brad Domenico, Frank Stanislaski and Ethan Thompson of Cushman & Wakefield arranged the debt on behalf of the borrower, private investor Yisroel Cherns. The direct lender was not disclosed. The property was 83 percent leased at the time of sale to tenants such as Cummins Inc., Whirley Industries and USA Medical Supplies.
WILMINGTON, DEL. — Regional investment firm Buccini Pollin Group has purchased three office buildings totaling approximately 252,000 square feet within Bellevue Park Corporate Center, a 52-acre campus in Wilmington. The purchase includes two four-story office buildings and a historic mansion that serves as a private amenity space for tenants. Jim Galbally and Brett Segal of JLL represented the undisclosed seller in the transaction. Buccini Pollin also owns three other buildings within Bellevue Park Corporate Center and has invested $1.1 million in capital improvements to the campus this year.
SAYVILLE, N.Y. — SRS Real Estate Partners has brokered the $20.7 million ground-lease sale of a 145,000-square-foot retail building in the Long Island community of Sayville. Target occupies the building at 5750 Sunrise Highway, which was constructed on 12.1 acres in 2014, and has roughly 14 years remaining on its corporate-guaranteed lease. Calvin Short of SRS, along with Jeff Christian of First Street Inc., represented the seller in the transaction. Tyler Leeson and Peter Deltondo of Marcus & Millichap represented the buyer. Both parties were California-based private investors that requested anonymity.
AUBURN, ALA. — Walker & Dunlop has negotiated the sale of The French Quarter, a 452-bed student housing community located near Auburn University in Alabama. Built in 1997 and renovated in 2023, the property features New Orleans-inspired architecture and offers 207 units in one-, two-, three- and five-bedroom configurations. Shared amenities include a pool, lounge, student center, café, dog park, community green space and a fitness center. Patrick Chisholm, Brian Malone and William Scott sold the property to Matt Genesio and Collegetown Communities for an undisclosed price. Chris Epp, Matthew Chase, Craig Miller, Holden Penn, Ben Sarna, Sarah Foronda and Naomi Bludworth of Walker & Dunlop represented the seller in the transaction. Will Baker, William Shell and Mike Shropshire, also with Walker & Dunlop, arranged acquisition financing on behalf of the buyer. The sales price and loan amount were not disclosed.