Property Type

Olympus Property Acquires 248-Unit Village at Apison Pike in Metro Chattanooga

by Julia Sanders January 10, 2022

OOLTEWAH, TENN. — Fort Worth, Texas-based Olympus Property has acquired The Village at Apison Pike, a 248-unit multifamily community in Ooltewah, about 18.2 miles east of Chattanooga. The Class A property is the third in Olympus Property’s 12th fund, Olympus Property XII LLC. The seller and sales price were not disclosed. Completed in 2015, Village at Apison Pike offers one-, two- and three-bedroom floorplans with units that range in size from 807 to 1,466 square feet. Unit features include granite countertops, nine-foot ceilings and stainless steel appliance packages. Community amenities include a pool with cabanas, fitness center, fully equipped clubhouse and a dog park. Located at 8605 Tradewind Circle, the apartment property is located about nine miles from the Chattanooga Metropolitan Airport and 16.3 miles from the Tennessee Aquarium. The property is also located close to restaurants including Fat Boy’s Roadside Eats and Couch’s Barbecue. Olympus plans to renovate the property with an additional $1 million in capital improvements over the next few years. Renovations will include exterior paint, minor upgrades to the clubhouse and amenity enhancements.

January 10, 2022

Acquisitions Retail Southeast Virginia

SRS Arranges $4M Sale of Two-Tenant Retail Property in Arlington, Virginia

by Julia Sanders January 10, 2022

ARLINGTON, VA. — SRS National Net Lease Group has arranged the $4 million sale of a two-tenant retail property in Arlington, about five miles southwest of Washington, D.C. Andrew Fallon and Rick Fernandez of SRS represented the seller, Chicago-based McCaffery Interests Inc. The undisclosed, Virginia-based private buyer purchased the property in a 1031 exchange. The sales price represented $1,286 per foot. Built in 1979, the 3,100-square-foot, two-story property is occupied by Wireless Rxx and Starbucks. The property is positioned on Clarendon Boulevard, across the street from a Whole Foods Market. The Starbucks has been at this location since the location was redeveloped into The Crossing Clarendon, a mixed-use destination featuring open-air retail, restaurants, residential and office buildings.

January 10, 2022

Acquisitions Louisiana Retail Southeast

Trinity REIS Brokers Sale of Family Dollar-Occupied Retail Property in New Orleans

by Julia Sanders January 10, 2022

NEW ORLEANS — Trinity Real Estate Investment Services (Trinity REIS) has brokered the sale of a Family Dollar-occupied retail property in New Orleans. Trinity REIS represented the seller, Legion Capital, in the sale. The sales price was not disclosed. The Family Dollar-occupied property spans 9,180 square feet. Located at 7437 Westbank Expressway, the property is situated about 10 miles from downtown New Orleans and 19.1 miles from the New Orleans Lakefront Airport.

January 10, 2022

Acquisitions Massachusetts Multifamily Northeast Top Stories

CBRE Arranges $114M Sale of Neponset Landing in Quincy, Massachusetts

by Taylor Williams January 10, 2022

QUINCY, MASS. — CBRE has arranged the $114 million sale of Neponset Landing, a 280-unit apartment community located at 2 Hancock St. in the South Shore Boston suburb of Quincy. The sales price equates to approximately $407,000 per unit. Built in 2007, the 12-story building offers a mix of one-, two- and three-bedroom units with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a lounge with an entertainment kitchen, fitness center, billiards room, leasing office, private media room and concierge services. In addition, residents have access to shuttle service to the North Quincy MBTA station. Neponset Landing is also near Interstate 93, which provides direct access to downtown Boston. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, an entity doing business as Neponset Landing LLC, in the transaction. The seller is an affiliate of Oregon-based Green Cities Co. that secured LEED Certification status for the property in 2018. The CBRE team also procured the buyer, a joint venture between Boston-based Synergy Investments and an undisclosed foreign investment partner. The new ownership plans to implement a capital improvement program, specific details of which were not released. “This transaction marked the successful conclusion …

January 10, 2022

Acquisitions California Multifamily Western

IPA Negotiates $80.7M Sale of Benson Apartments in Upland, California

by Amy Works January 7, 2022

UPLAND, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Benson, a multifamily community located at 850 N. Benson Ave. in Upland. An affiliate of Abacus Capital Group sold the property to New Standard Equities for $80.7 million, or $342,161 per unit. Located 1.4 miles from the Los Angeles County border, The Benson features 236 apartments in one-, two- and three-bedroom units spread across 32 residential buildings. Amenities include two resort-style swimming pools with furnished sundecks, a spa, fitness center, dog park, playground and more than 350 on-site parking spots. The asset was built in 1973 on a 516,578-square-foot lot. Joseph Grabiec, Alexander Garcia Jr., Kevin Green, Greg Harris and Chris Zorbas of IPA represented the seller and procured the buyer in the transaction.

January 7, 2022

Acquisitions Colorado Industrial Western

Karis Capital, AEW Sell 142,760 SF Industrial Building in Aurora to Westcore for $33M

by Amy Works January 7, 2022

AURORA, COLO. — A joint venture between Karis Capital and AEW has completed the disposition of Park 225, a newly developed industrial property located at 13575 E. 37th Ave. in Aurora. San Diego-based Westcore acquired the asset for $33 million. Totaling 142,760 square feet, the multi-tenant building was 57 percent leased to two tenants at the time of sale. Built in 2020, Park 225 features 32-foot clear heights, cross-dock loading, concrete truck court aprons, an ESFR sprinkler system, interstate visibility, heavy trailer parking and available yard. Will Strong, Kirk Kuller, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group in Phoenix represented the seller in the deal. Cushman & Wakefield’s Matt Tone, Steve Hager, Joey Trinkle, Drew McManus, Ryan Searle and Bryan Fry provided leasing advisory in the deal.

January 7, 2022

Development Industrial Loans Northmarq Washington Western

Northmarq Arranges $28.1M Construction Loan for Tacoma Central Logistics Project in Washington

by Amy Works January 7, 2022

TACOMA, WASH. — Northmarq has arranged a $28.1 million construction loan for the development of Tacoma Central Logistics at 1950 S. State St. in Tacoma. Scott Moline and Bob Spiro of Northmarq secured the three-year, interest-only loan through the firm’s relationship with a national bank for the undisclosed borrower. Totaling 248,000 square feet, the speculative building will feature 36-foot clear heights, 183 auto stalls, four grade-level doors, 56 dock doors and 50 trailer parking stalls. The Tacoma News Tribune previously occupied the site, but the former building was demolished.

January 7, 2022

Acquisitions Colorado Industrial Western

Realterm Acquires 200,864 SF Last-Mile Warehouse in Metro Denver

by Amy Works January 7, 2022

BROOMFIELD, COLO. — Realterm has purchased a final-mile warehouse facility located at 400 W. 160th Ave. in Broomfield. Terms of the transaction were not released. Built in 2021 on 52.5 acres, the 200,864-square-foot property features a functional office space, ample parking and 32 loading docks in a combination of drive-in doors and dock-high positions. Cushman & Wakefield represented the undisclosed seller and facilitated the sale.

January 7, 2022

Development Multifamily Southeast Virginia

Partners Group, Zom Living to Develop 492-Unit Apartment Community in Metro D.C.

by Julia Sanders January 7, 2022

ARLINGTON, VA. — Denver-based Partners Group and Orlando-based Zom Living have plans to develop Hazel & Azure at National Landing, a 492-unit apartment community in Arlington, about five miles south of Washington, D.C. The developers secured a total of $150 million in construction financing for the project. Zom Living has also secured a $26 million bridge loan with CB&S Bank for the site’s acquisition. Construction is slated to begin in the first quarter with completion set for late 2024. Hazel & Azure will feature two 14-story buildings, as well as 6,800 square feet of ground-floor retail space. The multifamily community will offer studios, one-, two- and three-bedroom floorplans, as well as townhomes, all ranging from 519 to 1,784 square feet. The units will feature floor-to-ceiling windows, vinyl plank flooring, walk-in closets, stainless steel appliances, smart thermostats, electronic locks, private balconies or terraces in most units, and views of the Potomac River and the Washington, D.C., skyline. Community amenities will include an e-lounge, concierge service in the lobby, rooftop pool, fitness and wellness spa, coworking spaces, self-serve convenience store and an indoor green space for dogs. Located at 3030 and 3130 Potomac Ave., the project will be situated less than one …

January 7, 2022

Acquisitions Florida Multifamily Southeast

Rosewood Realty Arranges $76.9M Sale of Multifamily Property in Gainesville, Florida

by Julia Sanders January 7, 2022

GAINESVILLE, FLA. — Rosewood Realty Group has arranged the $76.9 million sale of Evergreen Uptown Village, a 322-unit multifamily development in Gainesville. The property sold for $238,975 per unit. Jay Weiner of Rosewood Realty Group represented both the buyer, West Shore, and the seller, Evergreen Residential LLC, both of which are based in Boston. Built in 2004, Evergreen Uptown Village is a three-story property with a total of 478,542 square feet. The property offers one-, two- and three-bedroom floorplans with a unit size range of 810 to 1,606 square feet. Community amenities include a pool, fitness center and 450 outdoor parking spots, as well as 7,700 square feet of retail space on the ground level featuring a hair salon and a vacant restaurant. Located at 3780 NW 24th Blvd., the property is situated 5.1 miles from downtown Gainesville and about four miles from the University of Florida campus.

January 7, 2022

Newer Posts

Older Posts