Property Type

TruAmerica Multifamily Buys Two Properties in Houston Totaling 652 Units

by Taylor Williams November 23, 2021

HOUSTON — Los Angeles-based TruAmerica Multifamily has purchased two properties in Houston totaling 652 units. Camden Oak Crest totals 364 units, and Camden Park totals 288 units. The two garden-style properties are located 1.5 miles apart in the Westchase neighborhood and feature a mix of one-, two- and three-bedroom units. Amenities at both communities include pools, fitness centers and outdoor grilling areas. David Mitchell of Newmark brokered the sale between TruAmerica and the undisclosed, Houston-based REIT that developed the properties. Ryan Greer of CBRE arranged acquisition financing on behalf of the buyer, which will respectively rebrand the assets as Oak Crest and Wood Park.

November 23, 2021

Acquisitions Illinois Midwest Retail

L3 Capital Acquires 10,000 SF Retail Property in Chicago

by Kristin Harlow November 23, 2021

CHICAGO — L3 Capital has acquired 1051 N. Rush, a high-profile retail property in Chicago’s Gold Coast neighborhood. The purchase price was undisclosed. The two-level asset spans 10,000 square feet and is fully leased to Vans and Uniform Teeth. Marol Rush was the seller. Keely Polczynski of CBRE brokered the transaction.

November 23, 2021

Loans Midwest Multifamily Wisconsin

Aries Capital Arranges $21.9M in Joint Venture Equity for Multifamily Development in Glendale, Wisconsin

by Kristin Harlow November 23, 2021

GLENDALE, WIS. — Aries Capital has arranged $21.9 million in joint venture equity on behalf of Cypress Equities for The Bayshore Residences in Glendale, a northern suburb of Milwaukee. The $73 million, 311-unit luxury apartment complex will be situated within Bayshore Town Center and adjacent to the recently redeveloped shopping destination known as Bayshore. The four-building project will include studios to three-bedroom units along with a pool and shared courtyard spaces. North American Development Group was the joint venture partner. A timeline for construction was not provided.

November 23, 2021

Acquisitions Nevada Office Western

Voit Real Estate Services Negotiates Purchase of 204,123 SF Office Building in Las Vegas

by Amy Works November 23, 2021

LAS VEGAS — Voit Real Estate Services has arranged the acquisition of a six-story office building located at 2716 N. Tenaya Way in Las Vegas. San Diego-based Premier Realty Holdings LP (PRH XXXV LLC) purchased the property for $67 million. United HealthCare Services occupies the 204,123-square-foot property, which features a campus conference facility, auditorium, full-service cafeteria, multiple break rooms and a credit union, as well as an on-site, five-story parking structure. The healthcare company uses the office property to house its administrative and operations functions of OptumHealth, United HealthCare’s data and health intelligence business. Mike Bench of Voit represented the buyer, while Rick Reeder, Brad Tecca, Marlene Fujita and Charles Moore of Cushman & Wakefield represented the seller in the transaction.

November 23, 2021

Acquisitions Illinois Life Sciences Midwest

JLL Brokers Sale of 228,362 SF Life Sciences Building in Skokie, Illinois

by Kristin Harlow November 23, 2021

SKOKIE, ILL. — JLL Capital Markets has brokered the sale of 4901 Searle Parkway, a 228,362-square-foot life sciences building in Skokie. The sales price was undisclosed. Located within the Illinois Science + Technology Park, the property originally served as the headquarters of pharmaceutical giant G.D. Searle. Today, the building is leased to NorthShore University HealthSystem. Sam DiFrancesca, Patrick Shields, Jaime Fink, Jeffrey Bramson, Bruce Miller and Brian Shanfeld of JLL represented the seller, American Landmark Properties. TopMed Realty, a private equity firm focused on healthcare real estate, was the buyer.

November 23, 2021

Acquisitions Retail Utah Western

Matthews Brokers $8.4M Sale of Walgreens-Occupied Retail Property in Riverton, Utah

by Amy Works November 23, 2021

RIVERTON, UTAH — Matthews Real Estate Investment Services has arranged the acquisition of a retail property located at 12623 S. Redwood Road in Riverton. An undisclosed buyer purchased the asset for $8.4 million in a 1031 exchange. Anthony Connell, Preston Schwartz, David Harrington and Chad Kurz of Matthews handled the transaction.

November 23, 2021

Development Multifamily Texas

Rosewood, Trinsic Residential Complete Phase I of 339-Unit Multifamily Project in Austin

by Taylor Williams November 23, 2021

AUSTIN, TEXAS — A partnership between Dallas-based Rosewood Property Co. and Trinsic Residential Group has completed the initial phase of Aura Avery Ranch, a 339-unit multifamily project in Austin. Units feature one-, two- and three-bedroom floor plans and range in size from 576 to 1,422 square feet. Amenities include a pool, fitness center, clubhouse, game room and a dog park. Project partners included Davies Collaborative (architect), Benkendorfer & Associates (landscape architect), Faulkner Design Group (interior designer) and Jones Carter Engineering. Associated Bank provided construction financing. Rents start at $1,300 per month for a one-bedroom unit.

November 23, 2021

Acquisitions Multifamily Texas

IPA Negotiates Sale of 165-Unit Radius Turtle Creek Apartments in Dallas

by Taylor Williams November 23, 2021

DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Radius Turtle Creek, a 165-unit apartment community in Dallas. The property was built in 2001 and offers one- and two-bedroom units, as well as a pool and an internet lounge. A partnership between McCann Realty Partners and The Carlyle Group sold the community to Dallas-based Colgate McCallum for an undisclosed price. Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, Grant Raymond and Will Balthrope of IPA brokered the deal on behalf of both parties.

November 23, 2021

Loans Multifamily Texas

Ready Capital Closes $15.6M Acquisition Loan for San Antonio Apartments

by Taylor Williams November 23, 2021

SAN ANTONIO — New York City-based Ready Capital has closed a $15.6 million loan for the acquisition, renovation and stabilization of an unnamed 268-unit apartment community in San Antonio. The nonrecourse, interest-only loan was structured with a floating interest rate, 24-moth term, two extension options and a facility to fund future capital expenditures. The sponsor was undisclosed.

November 23, 2021

Acquisitions Arizona Retail Western

ORION Investment Real Estate Arranges Sale of 62,000 SF Central Marketplace in Goodyear, Arizona

by Amy Works November 23, 2021

GOODYEAR, ARIZ. — ORION Investment Real Estate has brokered the sale of Central Marketplace, a 62,000-square-foot retail center located at the northwest corner of Central Avenue and Van Buren Street in Goodyear. A California-based seller sold the asset to an undisclosed buyer for $9.8 million in an all-cash transaction. Ari Spiro, Sean Stutzman, Michael Achtman and Jennifer Eggert of ORION handled the transaction. At the time of sale, the 62,000-square-foot property was 98 percent occupied and anchored by the busiest 99 Cents Only stores in Arizona, according to ORION.

November 23, 2021

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