SOUTHFIELD, MICH. — Southfield-based American House Senior Living Communities has acquired 13 seniors living communities in Tennessee totaling 875 units. Seniors housing giant Ventas sold the portfolio for an undisclosed price. The properties were formerly Elmcroft Senior Living campuses and will be rebranded as American House Senior Living Communities. With this new portfolio, Southfield-based American House will now manage a total of 70 independent living, assisted living and/or memory care facilities. The portfolio includes the following properties: – American House Bartlett features 66 assisted living apartments and is located at 3345 Kirby Whitten Road in Bartlett. – American House Brentwood features 60 assisted living and memory care apartment units, and is located at 5436 Edmondson Pike in Brentwood. – American House Bristol features 83 assisted living and memory care apartment units, and is located at 826 Meadow View Road in Bristol. – American House Halls features 53 assisted living and memory care apartments, and is located at 7521 Andersonville Pike in Knoxville. – American House Hamilton Place features 49 assisted living and memory care apartments and is situated at 1502 Gunbarrel Road in Chattanooga, near the Georgia and Tennessee border. – American House Hendersonville is located at 1020 Carrington Place …
DALLAS — North Carolina-based Bell Partners has acquired Routh Street Flats, a 208-unit apartment community in Uptown Dallas. Completed in 2015, the property features a mix of studio, one- and two-bedroom units with granite surfaces, stainless steel appliances and full-size washers and dryers. Amenities include a pool, fitness center and a rooftop terrace. Bell Partners, which acquired Routh Street Flats in a joint venture with German institutional investment firm HANSAINVEST Real Assets GmbH, will rebrand the community as Bell Katy Trail.
SARASOTA, FLA. — Sarasota-based Benderson Development has purchased Sarasota County’s administration building in downtown Sarasota for $25 million. The deal allows the seller, Sarasota County, to lease back the space in the building for another four years. Sarasota County will be the only tenant at the building. Paul Carr, Todd Tolbert, Ken Krasnow and Brooke Berkowitz of Colliers arranged the sale of the 158,149-square-foot office property. Located at 1660 Ringling Blvd., the building is situated one mile from downtown Sarasota, 6.4 miles from Sarasota Beach and 57.6 miles from Tampa. The property is also close the Sarasota Art Museum, Whole Foods Market and Marie Selby Botanical Gardens Downtown Sarasota campus. Built in 1972, the property has been renovated several times over the years.
FORT WORTH, TEXAS — CBRE has negotiated the sale of Mercantile Distribution Center 40, a 182,500-square-foot industrial property in Fort Worth. New Jersey-based Faropoint purchased the property from Austin-based Marbella Interests LLC for an undisclosed price. Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber of CBRE brokered the deal on behalf of the seller. Mercantile Distribution Center 40 was fully leased to a single, unnamed tenant at the time of sale.
KYLE, TEXAS — Berkadia has arranged an undisclosed amount of acquisition financing for Urbana at Plum Creek, a 144-unit build-to-rent community in the southern Austin suburb of Kyle. The property was built in 2021 within the Plum Creek master-planned development. Homes come in one-, two- and three-bedroom formats and range in size from 632 to 1,246 square feet. Communal amenities include a pet park with washing stations, a pool and an outdoor lounge with a fire pit and grilling spaces. Scott Wadler and Matt Nihan of Berkadia arranged the three-year loan through CrossHarbor Capital Partners on behalf of the buyer, Florida-based Beacon Real Estate Group.
LELAND, N.C. — Goodegg Investments and Mesos Capital have bought Waterleaf at Leland, a 248-unit apartment community in Leland. Julie Lam and Annie Dickerson of Goodegg Investments, as well as Pancham Gupta and Rajan Gupta at Mesos Capital led the sales transaction. The sales price and seller were not disclosed. Built in April 2021, Waterleaf at Leland offers studio, one-, two- and three-bedroom floorplans. Unit features includes granite countertops, tile backsplashes, nine-foot ceilings, custom hardwood cabinets, modern lighting, stainless steel appliances, wood-vinyl plank flooring and private porches. Community amenities include a saltwater pool with outdoor fireplace, clubhouse with coffee bar, 24-hour fitness center with yoga and spin room, pickleball court, business center, car wash, dog park, community bike and kayak barn, private garages available and valet trash. The property was 96.4 percent occupied at the time of sale. Located at 7410 Cordoba Circle, Waterleaf at Leland is situated 9.3 miles from Wilmington.
WINSTON-SALEM, N.C. — Marcus & Millichap has arranged the sale of DoubleTree by Hilton Hotel Winston-Salem University, a 150-room hotel property in Winston-Salem. Jack Davis, Joce Messinger and Josh Williams of Marcus & Millichap represented the seller, an undisclosed private investor. The listing team also secured and represented the buyer, another private investor. The sales price was also not disclosed. Located at 5790 University Parkway, the DoubleTree by Hilton is situated within four miles from Wake Forest University and about nine miles from Salem College, Hanes Mall and Bowman Gray Stadium, a NASCAR racetrack. Built in 1987 and renovated in 2015, the hotel’s amenities include complimentary Wi-Fi, laundry facilities, a restaurant and bar, event center, 24-hour fitness center, outdoor pool and a fire pit.
HOBOKEN, N.J. — Locally based investment firm Faropoint has acquired a portfolio of 10 industrial buildings totaling 654,633 square feet in Northern New Jersey for $132.5 million. The portfolio was 98 percent leased at the time of sale. Four of the properties are located in Whippany, and four are located in Oakland. The other two are located in Fair Lawn. Marc Duval, Jose Cruz, Michael Oliver, Jordan Avanzato and Nick Stefans of JLL represented the seller, Kushner Cos., in the transaction. Faropoint will implement a capital improvement program that will include fresh paint jobs, replaced roofs and new lighting and sustainable features.
DAYTON, N.J. — Chicago-based investment firm CenterPoint Properties has purchased a 198,000-square-foot warehouse in the Northern New Jersey community of Dayton. The property sits on a 14-acre site and features a clear height of 31 feet and a separate two-acre parking lot. Bunny Escava and Isaac Setton of Kassin Sabbagh Realty brokered the transaction. The seller and sales price were not disclosed.
LEXINGTON, MASS. — Greatland Realty Partners has topped off Revolution Labs, a 180,000-square-foot life sciences project located in the northwestern Boston suburb of Lexington. Greatland is developing the project in partnership with Singerman Real Estate. SGA is the project architect, and Callahan Construction Managers is the general contractor. The development team began construction in late April 2021 and expects the building to be available for occupancy in the fourth quarter. The project also includes the development of a 442-space parking garage.