COLLEGE STATION, TEXAS — Homestead U has acquired Aspen Heights College Station, a 797-bed student housing property located near Texas A&M University in College Station. The community was acquired in partnership with Columbus Pacific and its affiliates for an undisclosed price. The property offers cottage-style units with bed-to-bath parity across 27 acres. Amenities include a pool, fitness center, outdoor grilling and dining areas, a dog park, game room, computer lab and a study lounge. The seller and sales price were not disclosed.
CHICAGO — Sterling Organization has acquired North Mayfair Commons, an 87,274-square-foot grocery-anchored shopping center in the North Mayfair neighborhood of Chicago, for $18.2 million. A 65,224-square-foot Jewel-Osco grocery store anchors the property. Other tenants include H&R Block and FedEx Kinko’s. Sterling Organization utilized its fund named Sterling United Properties II LP to purchase the property. The fund’s portfolio now spans approximately 1.2 million square feet of gross leasable area.
CHICAGO — Interra Realty has brokered the sale of 5505 S. Dorchester Ave. in Chicago’s Hyde Park neighborhood for $12 million. Built in 2020, the 34-unit apartment complex features a covered garage with 20 parking spaces as well as 14 surface parking spaces. Brad Feldman of Interra represented the seller, a local developer, and the local buyer, an entity doing business as 5505 S. Dorchester LLC. The buyer plans to add a rooftop deck.
CHICAGO — Floor & Decor has opened a new 76,000-square-foot warehouse store and design center at 125 W. 87th St. in Chicago. The store opens with a team of about 50 full-time and part-time associates. Floor & Decor, which is a specialty retailer of hard-surface flooring, operates 160 stores across 33 states.
APPLETON, WIS. — Faris Lee Investments has arranged the sale of Eisenhower Crossing in Appleton for $4.8 million. The 28,125-square-foot retail strip center features two drive-thrus. Sola Salon Studios is the anchor tenant. Matt Brooks and Joe Chichester of Faris Lee represented the seller, Wisconsin-based Excel Properties LLC. The duo also procured the buyer, a California-based 1031 exchange investor. A local bank provided acquisition financing.
MERRILLVILLE, IND. — Marcus & Millichap has negotiated the $2.9 million sale of a 32-unit multifamily portfolio in Merrillville, a city in Northwest Indiana. The portfolio is spread across eight buildings, which were constructed in the late 1980s and early 1990s. Units average 1,031 square feet. The portfolio was fully leased at the time of sale. Of the 32 units, 12 are Section 8 and 20 are market-rate. Aaron Kuroiwa, Jack Friskney and Austin Meeker of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies.
SHERMAN, TEXAS — Michigan-based brokerage firm Friedman Real Estate has arranged the sale of Midway Mall, a 530,000-square-foot regional shopping and dining destination located in the North Texas city of Sherman. Anchored by department stores Dillard’s and Burlington, Midway Mall also houses tenants such as 3-D Entertainment, Art of Threading and Candy N Lots. Steven Silverman of Friedman Real Estate represented the undisclosed buyer, which plans to redevelop the property to feature a mix of uses. Specifics of the redevelopment plan were not disclosed.
THE WOODLANDS, TEXAS — CBRE has arranged the $54.4 million refinancing of The Village at Woodlands Waterway, a seniors housing community located north of Houston. Built on 2.7 acres in 2011, the property comprises 116 independent living residences, 63 assisted living units and 28 memory care units. Aron Will, Austin Sacco and Tim Root of CBRE arranged the three-year, nonrecourse loan, which carried a floating interest rate, through an undisclosed debt fund. The borrower was a partnership between the Saudi Economic & Development Co. and Madison Marquette.
HOUSTON — Chicago-based investment firm 29th Street Capital has purchased The Highbank, a 284-unit multifamily property located near Texas Medical Center in Houston. Built in 2017, the community offers amenities such as a pool, outdoor grilling areas, a fitness center and a clubhouse with a wine lounge and library. The new ownership plans to upgrade the unit interiors. The seller and sales price were not disclosed. Haven Residential, an affiliate of 29th Street Capital, will assume management of the property.
BELLEVILLE, N.J. — Baltimore-based developer Klein Enterprises has opened SilverLake Apartments, a 232-unit multifamily community located about 15 miles outside of Manhattan. Units feature studio, one- and two-bedroom floor plans, and amenities include a fitness center, dog park and pet spa, game room, entertainment lounge with a kitchen, rooftop terrace, business center and package lockers. The property opened to an initial occupancy rate of 87 percent.