PARIS, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of The Pavilion, a 24-unit complex in Paris, located about 100 miles northeast of Dallas. According to Apartments.com, the property was built in 1984 and offers one- and two-bedroom units ranging in size from 750 to 950 square feet, as well as outdoor grilling and dining areas and a dog park. Chase Davis of TMG represented the buyer and seller, both of which requested anonymity, in the transaction.
FLANDERS, N.J. — List Logistics, a third-party freight distribution firm, has signed an 844,373-square-foot industrial lease in the Northern New Jersey community of Flanders. The property at 703 Bartley Chester Road spans 1.4 million square feet and features 49-foot clear heights and 500 trailer parking spaces. Charles Fern, Jason Barton, Thomas Tucci, Stephen Shoemaker, Jonathan Winge, Torsten Thaler, Elizabeth Rouse and Natalie Gorga of Cushman & Wakefield represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
EVERETT, MASS. — South Carolina-based developer Greystar has broken ground on a 325-unit multifamily project in the northeastern Boston suburb of Everett. The site at 1690 Revere Beach Parkway previously housed a Stop N Shop grocery store. The project, which represents Phase I of a larger, 741-unit development, will ultimately house 875 parking spaces, 9,500 square feet of retail space and 22,800 square feet of indoor and outdoor amenities. CUBE3 Architects designed the project. Phase I is slated for an early 2025 completion.
CHARLESTOWN, MASS. — MassHousing has provided $31 million in financing for City Square Elderly Housing, a 120-unit affordable seniors housing complex in Charlestown, a northern suburb of Boston. The complex was originally constructed in 1900 and renovated in 1985. Units come in studio and one-bedroom floor plans. The borrower, CSI Support & Development Services, will use the proceeds to refinance existing debt, fund capital improvements and preserve the property’s affordability status. The loan carried a 35-year term and a fixed interest rate.
WOODBURY, CONN. — Marcus & Millichap has arranged the sale of a self-storage development site in Woodbury, located in the western part of the state, that is approved for 217 units across 23,690 net rentable square feet of climate-controlled space. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity. John Krueger of Marcus & Millichap assisted in closing the deal as the broker of record.
BRISTOL, PA. — NAI Mertz has brokered the sale of a 23,433-square-foot office building in Bristol, located northeast of Philadelphia in Bucks County. Zena Charokopos and Rick Gordon of NAI Mertz represented the seller in the transaction. Adam Lashner and Jeff Licht, also with NAI Mertz, represented the buyer, which plans to use the property as an adult care facility. Both parties requested anonymity.
PERRIS, CALIF. — An Ares Management fund has acquired an industrial building, located at 100 Walnut Ave. in Perris, from 100 Walnut LLC for $59.3 million. Built in 2022 on 9.6 acres, the 205,589-square-foot property features 36-foot clear heights, 27 dock doors and 1,200 amps of power. GPA Logistics currently occupies the entire building. Cody Lerner of Avison Young represented the buyer, while Carol Taubman of Westgate Industrial Properties represented the seller in the deal.
SAN DIEGO — JLL Capital Markets has arranged $20.6 million in acquisition financing and joint-venture equity for a multi-tenant corporate headquarters and distribution facility located at 2425 Auto Way in Escondido. The borrower is a joint venture between Stos Partners and a private investor. Aldon Cole and Brad Vansant of JLL Capital Markets Debt & Structured Finance arranged the short-term, floating-rate loan through an insurance company. Sound Image and Goodman fully lease the 88,690-square-foot facility, which features 20-foot to 22-foot clear heights, dock- and grade-level loading doors, 200 parking spaces and 10,000 square feet of office space.
BRIGHTON AND NORTHGLENN, COLO. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Brighton Care Center, a 108-bed skilled nursing facility located in Brighton, and Malley Transitional Care Center, a 162-bed skilled nursing facility located in Northglenn. These acquisitions are subject to a long-term, triple-net lease. “We are excited about growing in Colorado,” says Barry Port, Ensign’s CEO. “These facilities are a great fit to our existing portfolio and we look forward to the contribution each will have in our operational market and clusters in Colorado.” This acquisition brings Ensign’s growing portfolio to 271 healthcare operations, 26 of which also include senior living operations, across 13 states.
RIVERSIDE, CALIF. — Progressive Real Estate Partners has arranged the sales of two adjacent single-tenant retail properties that. Private investors acquired the properties in separate deals for a combined total of $4.2 million. Greg Bedell of Progressive Real Estate Partners represented the Los Angeles-based seller for both transactions. The transactions are: The $2.1 million, or $920 per square foot, sale of 3940 University Avenue. Plant Power, a fast-casual drive-thru restaurant with patio, occupies the 2,250-square-foot building. The $2.1 million, or $614 per square foot, sale of 3980 University Avenue. Richie’s Hot Chicken and Carlo’s Tijuana Tacos are tenants at the 3,500-square-foot building.