Thursday, May 21, 2026
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The-Kathryn-Ann-Portland-OR
Affordable HousingLoansMultifamilyOregonWestern

Urban Development Group Receives $40M in HUD Financing for Two Multifamily Properties in Portland

by Amy Works

PORTLAND, ORE. — Urban Development Group has received two separate loans, totaling $40 million, for two apartment communities in Portland. Dwight Capital provided a $24.9 million HUD 223(f) loan for The Kathryn Ann and a $15.2 million HUD 223(f) loan for The Sellina. The 146-unit The Kathryn Ann and the 90-unit The Sellina both feature dog wash stations, indoor bicycle storage and community courtyard. Both loans benefitted from a Green Mortgage Insurance Premium Reduction set at 25 basis points because the properties achieved Energy Star certifications. The Kathryn Ann also has an affordability component, as 15 percent of its units are restricted to 80 percent or less of the median family income. These loans are the seventh and eighth HUD loans that Dwight Capital has closed for the borrower. McBride Capital brokered the transactions.

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AcquisitionsCaliforniaIndustrialWestern

Stos Partners Buys Industrial Building in Escondido, California for $20M

by Amy Works

ESCONDIDO, CALIF. — Stos Partners, in a joint venture with a global insurance company, has acquired a freestanding industrial property located at 2425 Auto Park Way in Escondido. South Image Inc. sold the asset for $20 million in an off-market transaction. The sale brings the buyer’s total 2022 deal volume to nearly $300 million. Located near Interstate 5 and Highway 78, the 86,690-square-foot property features 18-foot to 22-foot clear heights and 10,000 square feet of office buildout. Approximately 11 percent of the total building space is dedicated to private business operations space, sound engineer testing space, a mechanics tool shop and a racked storage area. The property also features a 2000A/277 480V 3-Phase system and 200 parking spaces. Barry Handler of Lee & Associates represented the buyer and seller in the deal.

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AcquisitionsIndustrialUtahWestern

Regents Park Brixton Sells 75,864 SF Next Step Business Park in Springville, Utah

by Amy Works

SPRINGVILLE, UTAH — Regents Park Brixton has completed the disposition of Next Step Business Park, a three-building industrial campus in Springville, a suburb of Provo. San Diego-based Hearthstone Capital acquired the 75,864-square-foot asset for an undisclosed price. Located at 317 N. 2000 W, Next Step Business Park consists of three single-story, newly constructed buildings ranging in size from 18,926 square feet to 28,480 square feet. The property is fully leased to a variety of tenants. Bryce Blanchard of Newmark brokered the transaction.

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AcquisitionsMidwestOhioRetail

Marcus & Millichap Arranges $10.6M Sale of Shopping Center in Lancaster, Ohio

by Kristin Harlow

LANCASTER, OHIO — Marcus & Millichap has arranged the $10.6 million sale of Plaza Shopping Center in Lancaster, about 33 miles southeast of Columbus. The 210,522-square-foot property was 87 percent leased at the time of sale to tenants such as Ollie’s Bargain Outlet, Planet Fitness, AutoZone, Family Dollar, UPS Store, Rent-A-Center and Buffalo Wild Wings. Scott Wiles, CJ Jackson, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, an Ohio-based REIT. The team also procured the buyer, Americas Realty LLC.

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AcquisitionsIndianaMidwestMultifamilySeniors Housing

Euson Lindsay Health Acquires 72-Bed Skilled Nursing Facility in Suburban Indianapolis

by Kristin Harlow

CARMEL, IND. — Euson Lindsay Health LLC has acquired The Green House Cottages of Carmel, a 72-bed skilled nursing facility in Carmel, a suburb of Indianapolis. The Green House Cottages of Carmel opened in 2016 and offers short-term rehabilitation, memory care and long-term care. The beds are spread across six buildings. The buyer will rebrand the facility under its Restoracy brand. The seller and sales price were not disclosed.  

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AcquisitionsHealthcareIllinoisMidwestNorthmarq

Northmarq Brokers $4.7M Sale of Healthcare Property in McHenry, Illinois

by Kristin Harlow

MCHENRY, ILL. — Northmarq has brokered the $4.7 million sale of a 7,000-square-foot healthcare property in McHenry, about 50 miles northwest of Chicago. The newly constructed building, located at 1830 N. Richmond Road, is fully occupied by Aspen Dental and WellNow Urgent Care. Isaiah Harf of Northmarq represented the seller, a Chicago-based developer. The asset sold to a Missouri-based private buyer completing a 1031 exchange.

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AcquisitionsIllinoisIndustrialMidwest

Cawley Chicago Negotiates Sale of 110,000 SF Lumber Yard in Rochelle, Illinois

by Kristin Harlow

ROCHELLE, ILL. — Cawley Chicago has negotiated the sale of a 110,000-square-foot lumber yard in Rochelle, about 25 miles south of Rockford. The sales price was undisclosed. The property at 147 Second Ave. features a one-story manufacturing and warehouse facility, which was built in 2003. Jon Chamlin of Cawley Chicago represented the seller, Monty Enoch, proprietor of Cedar Siding Inc. The buyer, Wisconsin-based Dumke Associates, has retained Chamlin as the leasing agent. Dumke plans to renovate the property and begin lease-up in the first quarter of 2023.

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AcquisitionsCivicDevelopmentTexas

Waller ISD Acquires 19 Acres in Metro Houston for New Elementary School

by Taylor Williams

CYPRESS, TEXAS — The Waller Independent School District (ISD) has acquired 19 acres within Bridgeland, a master-planned development in the northwestern Houston suburb of Cypress, with plans to build a new elementary school. A construction timeline for the school, which will serve about 850 students, has yet to be established. The Howard Hughes Corp. (NYSE: HHC) is the master developer of Bridgeland and sold the land to Waller ISD. A general contractor has not yet been appointed.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Arranges $2M Sale of Multifamily Property in Melrose Park, Illinois

by Kristin Harlow

MELROSE PARK, ILL. — Interra Realty has negotiated the sale of a 29-unit multifamily property located at 1123 N. 33rd Ave. in the Chicago suburb of Melrose Park for $2 million. Built in 1970, the building comprises three studio, 22 one-bedroom and four two-bedroom units. Patrick Kennelly and Paul Waterloo of Interra represented the buyer, a local private investor completing a 1031 exchange. The buyer plans to make improvements to apartments as needed and address deferred maintenance. The seller was undisclosed.

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AcquisitionsMultifamilySeniors HousingTexas

Castle Lanterra Buys 120-Unit Active Adult Community in Tomball, Texas

by Taylor Williams

TOMBALL, TEXAS — New York-based investment firm Castle Lanterra Properties has purchased Laurel at Vintage Park, a 120-unit active adult community located in the northwestern Houston suburb of Tomball. Built on 5.5 acres in 2014, Laurel at Vintage Park features one- and two-bedroom units and amenities such as a clubhouse and a fitness center. John Sweeny, Aron Will, Scott Bray, Garrett Sacco, Clint Duncan, Matthew Phillips, Jock Naponic and Nolan Mainguy of CBRE represented the seller, Coastal Ridge, in the deal.

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