Property Type

Pendulum Partners, Long Wharf Capital Purchase 111,384 SF Office Property in Culver City

by Amy Works November 5, 2021

CULVER CITY, CALIF. — A partnership between Irvine-based Pendulum Property Partners and Boston-based Long Wharf Capital has acquired an office building in Culver City. Watt Properties and Edge Principal Advisors sold the asset for $55.9 million in an off-market transaction. Located at 3000 S. Robertson Blvd., the four-story building features 111,384 square feet of office space. Current tenants include Kaiser Permanente and WeWork. Mike Longo, Todd Tydlaska, Sean Sullivan and Greg Grant of CBRE represented the seller. The CBRE team also procured acquisition financing for the buyer from a regional bank.

November 5, 2021

Development Multifamily Texas

Sueba USA Completes 319-Unit Boardwalk Lofts Apartments in Metro Houston

by Taylor Williams November 5, 2021

KATY, TEXAS — Locally based developer Sueba USA has completed Boardwalk Lofts, a 319-unit apartment community located in the western Houston suburb of Katy. Units come in one-, two- and three-bedroom floor plans, range in size from 480 to 2,087 square feet and feature tile backsplashes, stainless steel appliances and custom granite countertops. Amenities include a pool, spa, fitness center, business center, catering kitchen, coffee bar and lounge areas. Rents start at approximately $1,200 per month for a one-bedroom unit.

November 5, 2021

Acquisitions Nevada Retail Western

IYK Realty Buys 158,394 SF Retail Asset in Las Vegas for $26.2M

by Amy Works November 5, 2021

LAS VEGAS — IYK Realty has purchased a retail property in Las Vegas for $26.2 million. Situated within Sahara Pavilion South at 2520-2650 S. Decatur Blvd., the asset features 158,394 square feet of retail space. Current tenants include Chase, Chipotle, Einstein Bros. Bagels and Starbucks Coffee. Additionally, the new, 48,000-square-foot anchor tenant will be a supermarket. Al Twainy and Jennifer Lehr of Colliers represented the buyer in the deal. The name of the seller was not released.

November 5, 2021

Acquisitions Industrial Nevada Western

RealComm Advisors Negotiates Purchase of 73,468 SF Industrial Property in Las Vegas

by Amy Works November 5, 2021

LAS VEGAS — RealComm Advisors has arranged the acquisition of an industrial property located at 7175 Belcastro St. and 7255 W. Arby Ave. in Las Vegas. Credi Gramercy LLC, Reinhardt LLC, Roman Crescentini Family Trust and Chiara Crescentini Family Trust purchased the asset for $13.9 million. The facility offers 73,468 square feet of industrial space. Greg Pancirov, Mike De Lew and Paul Hoyt of RealComm Advisors represented the buyer in the deal.

November 5, 2021

Acquisitions Multifamily Oklahoma Texas

GreenLight Equity Group Acquires Two Multifamily Properties Totaling 192 Units in Oklahoma City

by Taylor Williams November 5, 2021

OKLAHOMA CITY — Salt Lake City-based investment firm GreenLight Equity Group has acquired Chula Vista and Villa Verde, two multifamily properties totaling 192 units in Oklahoma City. The properties are located on the city’s south side. According to Apartments.com, Chula Vista was built in 1970, totals 60 units and offers amenities such as a playground, picnic area and onsite laundry facilities, while Villa Verde was built in 1968 and features studio and one-bedroom units ranging in size from 470 to 690 square feet. New York-based North Point Capital and Assured Realty Capital Inc. both contributed preferred equity investments of undisclosed amounts to the deal, which traded off market. The seller was also not disclosed. The new ownership plans to implement a value-add plan. The deal marks the first collaboration between the partnership of North Point Capital and Assured Realty Capital.

November 5, 2021

21572-Plano-Trabuco-Rd-Trabuco-Canyon-CA

Acquisitions California Net Lease Retail Western

Faris Lee Arranges $4.2M Sale of CVS-Occupied Building in Trabuco Canyon, California

by Amy Works November 5, 2021

TRABUCO CANYON, CALIF. — Faris Lee Investments has arranged the sale of a freestanding retail building located in Trabuco Canyon. Southern California-based ValueRock Realty acquired the property from an undisclosed seller for $4.2 million. CVS/pharmacy occupies the property, located at 21572 Plano Trabuco Road, on a triple-net lease basis. Rich Chichester and Don MacLellan of Faris Lee, in partnership with John Cumbelich of Cumbelich & Associates, represented the seller and buyer in transaction.

November 5, 2021

Acquisitions Industrial Self-Storage Utah Western

Marcus & Millichap Brokers Sale of Self-Storage Facility in Murray, Utah

by Amy Works November 5, 2021

MURRAY, UTAH — Marcus & Millichap has negotiated the sale of The Storage Center Salt Lake City, a self-storage facility in Murray. Terms of the transaction were not released. Located at 4317 S. Commerce Drive, the 100,450-square-foot property was constructed in phases from 1976 to 1992. The asset features a leasing office, resident manager’s quarters and 570 units. The buyer plans to complete a large-scale renovation on the property to bring it to institutional standards. Jordan Farrer and Adam Schlosser of Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the transaction.

November 5, 2021

Loans Multifamily Texas

Dwight Capital Provides $27.6M Acquisition Loan for San Antonio Apartments

by Taylor Williams November 5, 2021

SAN ANTONIO — New York City-based Dwight Capital has provided a $27.6 million bridge loan for the acquisition of Parc 410, a 344-unit apartment community in San Antonio. The property encompasses 21 buildings on a 10-acre site and offers amenities such as two pools, a basketball court, fitness center, business center and a dog park. Adam Sasouness of Dwight Capital originated the loan on behalf of the undisclosed borrower.

November 5, 2021

Acquisitions Multifamily Oklahoma Texas

TMG Arranges Sale of 187-Unit Apartment Complex in Oklahoma City

by Taylor Williams November 5, 2021

OKLAHOMA CITY — The Multifamily Group (TMG), a Dallas-based brokerage firm, has arranged the sale of Foxcroft Apartments, a 187-unit complex in Oklahoma City that was built in 1971. According to Apartments.com, the property offers one-, two- and three-bedroom units and amenities such as a pool, courtyard, playground and onsite laundry facilities. Danny Wieland of TMG represented the seller in the transaction, and Paul Yazbeck of TMG procured the buyer. Both parties requested anonymity.

November 5, 2021

Industrial Leasing Activity Texas

Lee & Associates Negotiates 81,280 SF Industrial Lease in Irving

by Taylor Williams November 5, 2021

IRVING, TEXAS — Lee & Associates has negotiated an 81,280-square-foot industrial lease at 6425 Campus Circle in Irving. According to LoopNet Inc., the property was built in 1981. Ken Wesson, Adam Graham and Chris Hillman of Lee & Associates represented the landlord, Longpoint Realty Partners, in the lease negotiations. The representative of the tenant, West Shore Homes, was not disclosed.

November 5, 2021

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