Property Type

Equity Partnership Holdings Purchases Apartment Building in Omaha for $12.5M

by Kristin Harlow October 22, 2021

OMAHA, NEB. — Equity Partnership Holdings LLC (EPH) has purchased Dundee Flats in Omaha for $12.5 million. Built in 2019, the Class A property consists of 62 apartment units and two commercial spaces. Located at the corner of 49th and Dodge streets, the building is within walking distance to the University of Nebraska Medical Center. A new Omaha Rapid Bus Transit station is situated directly in front of the property. The acquisition marks EPH’s second transaction in Omaha this year, and its seventh overall in the Omaha market. EPH’s portfolio in the Omaha market now totals 483 units. Seller information was not provided.

October 22, 2021

Development Midwest Missouri Retail

Outside the Lines to Build Show Fountain at Branson Boardwalk in Missouri

by Kristin Harlow October 22, 2021

BRANSON, MO. — Outside the Lines (OTL), a design-build company specializing in water features, fountains, rockwork and themed environments, is building a show fountain within the lake at Branson Boardwalk in Missouri. The 12,500-square-foot lake is adjacent to the Aquarium at the Boardwalk. The $55 million project, the first attraction to be developed at the Branson Boardwalk, includes a 34-ton, 55-foot octopus sculpture by Demiurge. The octopus will be integrated into the show fountain with color-changing LED lights. Kuvera Partners is the owner and operator of both the Branson Boardwalk and Aquarium at the Boardwalk.

October 22, 2021

Acquisitions Illinois Industrial Midwest

Colliers Brokers Sale of Two-Building Industrial Facility Near O’Hare Airport

by Kristin Harlow October 22, 2021

DES PLAINES, ILL. — Colliers Chicago has brokered the sale of the CEVA O’Hare Distribution Complex, a two-building industrial facility totaling 228,603 square feet in Des Plaines, a Chicago suburb just north of the O’Hare International Airport. The sales price was undisclosed. CEVA Logistics, a global logistics and supply chain company, uses the facility for distribution and sorting. The property is located on Mount Prospect Road. Jeff Devine and Steve Disse of Colliers represented the seller, James Campbell Co. California-based LBA Realty was the buyer.

October 22, 2021

Valley-View-Trade-Center-Jessup-Pennsylvania

Acquisitions Industrial Northeast Pennsylvania

Trammell Crow, Diamond Realty Sell 1 MSF Valley View Trade Center in Jessup, Pennsylvania

by Taylor Williams October 22, 2021

JESSUP, PA. — A joint venture between Dallas-based Trammell Crow Co. and Diamond Realty Investments has sold Valley View Trade Center, a roughly 1 million-square-foot distribution center in Jessup, a northern suburb of Scranton. Built on a speculative basis in 2020, Valley View Trade Center features a clear height of 40 feet, truck court depths of 190 feet, an ESFR sprinkler system, 311 trailer parking spots, 277 car parking spots and 159 dock positions. Michael Hines, Brian Fiumara, Brad Ruppel, Joe Hill and Lauren Dawicki of CBRE represented the joint venture in its disposition of the property. Los Angeles-based Preylock Holdings purchased the asset, which was fully leased at the time of sale, for an undisclosed price.

October 22, 2021

Berkshire-Stewards-Crossing-Lawrence-New-Jersey

Acquisitions Multifamily New Jersey Northeast

JLL Negotiates Sale of 240-Unit Berkshire Stewards Crossing Apartments Near Trenton

by Taylor Williams October 22, 2021

LAWRENCE TOWNSHIP, N.J. — JLL has negotiated the sale of Berkshire Stewards Crossing, a 240-unit apartment community in Lawrence Township, a northern suburb of Trenton. Michael Oliver, Jose Cruz, Steve Simonelli, Kevin O’Hearn and Grace Braverman of JLL represented the seller, Berkshire Residential Investments, in the transaction. The buyer and sales price were not disclosed. Roughly 9 percent (36) of the property’s one-, two- and three-bedroom units are reserved as affordable housing. Amenities include a pool, fitness center, volleyball court, grill area with a fire pit and outdoor lounge, a dog run and walking paths.

October 22, 2021

Loans Multifamily New York Northeast Student Housing

Square Mile Capital Provides $47.2M Acquisition Loan for Syracuse Student Housing Property

by Taylor Williams October 22, 2021

SYRACUSE, N.Y. — Square Mile Capital has provided a $47.2 million acquisition loan for 505 on Walnut, a 363-bed student housing property that serves students at Syracuse University. The property, which is fully occupied for the current academic year, features 126 units in one-, two-, three- and four-bedroom layouts. Amenities include a 24-hour fitness center, computer lab, study pods, outdoor sky lounge, community kitchen, pet washing stations and a ground-floor café. Trent Houchin of Newmark arranged the debt on behalf of the borrower, New York City-based CREM Capital.

October 22, 2021

Acquisitions Massachusetts Northeast Office

FoxRock Properties Acquires Office Building in Downtown Boston for $43.5M

by Taylor Williams October 22, 2021

BOSTON — Commercial investment firm FoxRock Properties has acquired a 76,698-square-foot, Class A office building located at 176 Federal St. in downtown Boston for $43.5 million. According to LoopNet Inc., the eight-story building was originally constructed in 1901 and renovated in 1986. At the time of sale, the property was 80 percent leased, with law firm Rich May and financial advisory group Capstone Partners being the largest tenants at roughly 20,000 and 11,000 square feet, respectively. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, Federal Street 176 Holdings Inc., in the deal.

October 22, 2021

Acquisitions Industrial Massachusetts New York Northeast

Pacer Partners, Drake Real Estate Buy Three Industrial Buildings Totaling 63,000 SF in Northeast

by Taylor Williams October 22, 2021

DEER PARK AND HAUPPAGE, N.Y. AND RANDOLPH, MASS. — A joint venture between regional investment firm Pacer Partners and New York City-based Drake Real Estate Partners has purchased three industrial buildings totaling approximately 63,000 square feet. Two of the single-tenant buildings are located on Long Island in the communities of Deer Park and Hauppage, and the third is located in the southern Boston suburb of Randolph. Thomas Didio Jr. of JLL arranged acquisition financing for the transaction through ConnectOne Bank. The seller was not disclosed.

October 22, 2021

Development Mixed-Use Texas Top Stories

Merit Commercial Real Estate Breaks Ground on $500M Alsatian Oaks Master-Planned Community Near San Antonio

by Kristin Harlow October 22, 2021

CASTROVILLE, TEXAS — Merit Commercial Real Estate has broken ground on Alsatian Oaks, a 435-acre, master-planned community in Castroville, a town adjacent to San Antonio. The project represents an investment of more than $500 million. When complete, Alsatian Oaks will include 950 single-family homes, an amenity center, parks, bike trails and more than 400,000 square feet of restaurants, retail and medical office space. The first phase of development will consist of 233 homes as well as utility systems and a parkway connecting to Highway 90. A construction timeline was not provided. Founded in 1844 by farmers from Alsace, a French region that borders Germany, Castroville maintains a uniquely European agricultural style. Merit brought in agricultural talent from across the state to ensure that the new development honored the city’s heritage and paid tribute to its unique architecture. The population within a 10-mile radius of Castroville has increased 11.4 percent over the past five years, according to Merit. It is projected to increase another 18.2 percent over the next five years. Additionally, Castroville lies within the highest growth submarket for the San Antonio area, with more than 5,321 new home starts in the past year. There are multiple projects to increase …

October 22, 2021

Acquisitions Florida Multifamily Southeast

Joint Venture Sells Motion at Dadeland Apartments in Miami for $114M

by John Nelson October 22, 2021

MIAMI — Adler Group and 13th Floor Investments, in partnership with Barings LLC, has sold Motion at Dadeland, a transit-oriented multifamily development in Miami. Maryland-based Lerner Enterprises purchased the 25-story property for $114 million. Located at 8400 South Dixie Highway, Motion at Dadeland features 294 market-rate rental apartments and approximately 8,000 square feet of retail space adjacent to the Dadeland North Metrorail station and the Dadeland Station retail center. Built in 2019, Motion at Dadeland was 99 percent occupied at the time of sale. Avery Klann of Newmark represented the seller in the transaction, while Rob Carey and Ted Taylor of JLL, along with Matt Williams and Kassi Saridakis of Newmark’s Debt & Structured Finance team, represented the buyer.

October 22, 2021

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