Property Type

SRS Brokers $2.9M Sale of Single-Tenant Medical Office Property in West Palm Beach

by Julia Sanders November 29, 2021

WEST PALM BEACH, FLA. — SRS Real Estate Partners’ National Net Lease Group (NNLG) has brokered the $2.9 million off-market sale of a single-tenant medical office property fully occupied by Heartland Dental in West Palm Beach. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private investor, in the deal. Richard Dorfman of SRS represented the buyer, a Massachusetts-based private investor. Located at 8961 Okeechobee Blvd., the 3,533-square-foot medical office property is located near a Publix, Mobil gas station and T-Eka Photo electronics store. Built in 2000, the property previously was a Truist Bank property and now is currently being renovated by Heartland Dental, which recently signed a 10-year lease for the property. The asset was acquired by the new ownership during the renovation process and prior to the rent commencement date.

November 29, 2021

Development Industrial Retail Texas

Solo Brands Opens 430,000 SF Headquarters, Showroom in Grapevine, Texas

by Taylor Williams November 29, 2021

GRAPEVINE, TEXAS — Solo Brands, a provider of outdoor apparel and equipment, has opened a 430,000-square-foot headquarters office and showroom in Grapevine, located near Dallas-Fort Worth International Airport. Prologis developed the building as a spec project in 2020. ENTORS Design provided architectural services for the development. George Curry and Blake Rogers of JLL represented Solo Brands in its site selection and lease negotiations.

November 29, 2021

Acquisitions Multifamily Texas

DB Capital Acquires 352-Unit Salado Springs Apartments in San Antonio

by Taylor Williams November 29, 2021

SAN ANTONIO — Los Angeles-based investment firm DB Capital Management has acquired Salado Springs, a 352-unit apartment community located on the north-central side of San Antonio. According to Apartments.com, the property offers one-, two- and three-bedroom units and amenities such as a pool, playground, fitness center, clubhouse, pet play area and a media room. San Francisco-based Hamilton Zanze sold the property, which was originally built in 1997, to DB Capital for an undisclosed price. The new ownership plans to invest about $6.5 million in capital improvements and to rebrand the property as Summit at Salado Springs.

November 29, 2021

Acquisitions Multifamily Texas

AMAC Buys Apartment Community in Austin’s East Riverside Area for $61.9M

by Taylor Williams November 29, 2021

AUSTIN, TEXAS — Arbor Management Acquisition Co. (AMAC) has purchased The Mont, a 288-unit apartment community in Austin’s East Riverside neighborhood, for $61.9 million. The newly built property features one- and two-bedroom units averaging 730 and 1,048 square feet, respectively. Residences are furnished with stainless steel appliances, granite countertops, individual washers and dryers and private balconies. Amenities include a pool with a tanning deck, fitness center with a yoga studio, courtyard, business center, game room and a dog park. The seller was not disclosed.

November 29, 2021

Acquisitions Office Texas

Colliers Negotiates Sale of 155,000 SF Search Plaza Office Building in Dallas

by Taylor Williams November 29, 2021

DALLAS — Colliers has negotiated the sale of Search Plaza, a 155,000-square-foot office building located along the North Central Expressway in North Dallas. New Orleans-based Uhalt Investments purchased the asset from Pillar Commercial for an undisclosed price. Creighton Stark and Chris Boyd of Colliers brokered the deal. Pillar Commercial will continue to manage and lease the building, which was 91 percent leased at the time of sale.

November 29, 2021

Acquisitions Multifamily Texas

The Multifamily Group Arranges Sale of 176-Unit Complex in San Antonio

by Taylor Williams November 29, 2021

SAN ANTONIO — The Multifamily Group (TMG), a Dallas-based brokerage firm, has arranged the sale of Mission Villas, a 176-unit apartment complex in San Antonio. Built on five acres in 1965, the property offers one- and two-bedroom units and amenities such as a pool, playground, picnic area and onsite laundry facilities. Paul Yazbeck of TMG represented the seller in the transaction, and Chris Siemasko of TMG procured the buyer, a California-based REIT.

November 29, 2021

Acquisitions Colorado Multifamily Western

Capstone Brokers Sale of Six-Property Multifamily Portfolio in Southwest Denver for $56.5M

by Amy Works November 29, 2021

DENVER — Capstone Apartment Partners has completed the sale of a six-community apartment portfolio located in Southwest Denver. Monarch Investment and Management Group acquired the portfolio from a group of investors connected through Abiete Real Estate for $56.5 million. Totaling 325 apartments, the portfolio includes The Amherst, Federal Terrace, Autumn Ridge, Pinecrest Apartments, Elm Creek Apartments and The Hill Apartments. All six properties are located along South Federal Boulevard and were approximately 96 percent occupied at the time of closing. Jason Koch, Adam Riddle, Sean Holamon and Austin Smith of Capstone represented the seller in the deal.

November 29, 2021

Acquisitions California Multifamily Western

MG Properties Buys 168-Unit Apartment Community in Martinez, California

by Amy Works November 29, 2021

MARTINEZ, CALIF. — San Diego-based MG Properties Group has acquired Maris at Martinez, a multifamily property located at 142 Fig Tree Lane in Martinez. Terms of the transaction were not released. Formerly known as Terra Martinez, the 168-unit community was built in 1985. Salvatore Saglimbeni, Stanford Jones, Philip Saglimbeni and Alexander Tartaglia of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller. Institutional investors advised by JP Morgan Asset Management provided mortgage financing for the acquisition. Bryan Frazier, Andrew Schoene and Blake Hockenbury of Walker & Dunlop arranged the acquisition financing.

November 29, 2021

Arizona Loans Multifamily Western

Ready Capital Closes $11.1M in Financing for Multifamily Property in Tucson, Arizona

by Amy Works November 29, 2021

TUCSON, ARIZ. — Ready Capital has closed $11.1 million in financing for the acquisition, renovation and stabilization of a 96-unit apartment community in the West University submarket of Tucson. Upon acquisition, the undisclosed borrower plans to implement a capital improvement plan curing deferred maintenance and renovating unit interiors, building exteriors and common areas. Ready Capital closed the non-recourse, interest-only, floating-rate loan, which features a 36-month term, two extension options, flexible prepayment and a facility to provide future funding for capital expenditures.

November 29, 2021

Princeton-West-Innovation-Campus-Hopewell-New-Jersey

Development Life Sciences New Jersey Northeast

BeiGene to Open 400,000 SF Life Sciences Facility in Hopewell, New Jersey

by Taylor Williams November 29, 2021

HOPEWELL, N.J. — BeiGene, a global biotech firm that develops cancer medicines, will open a 400,000-square-foot life sciences facility in Hopewell, a suburb of Trenton. The manufacturing and research facility will be situated on a 42-acre site within the Princeton West Innovation Campus that was previously owned by pharmaceutical giant Bristol Myers Squibb. Lincoln Equities Group owns Princeton West Innovation Campus. Construction is expected to begin in 2022 and to be complete in late 2023 or early 2024.

November 29, 2021

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