LOUISVILLE AND LEXINGTON, KY. — DMK Development Group has sold four senior living properties in Kentucky for a total $65.3 million. American Healthcare REIT was the buyer. Located in the Louisville and Lexington metros, the portfolio totals 316 units, with assisted living and memory care residences. Each of the properties was opened between 2020 and 2022. Trilogy Health Services managed the properties through lease-up and stabilization.
MISSOURI CITY, TEXAS — Miami-based lender BridgeInvest has provided a $40.5 million loan for the refinancing of Ravella at Sienna, a 292-unit apartment community located in the southwestern Houston suburb of Missouri City. According to Apartments.com, the property offers one-, two- and three-bedroom units that range in size from 609 to 1,517 square feet. Amenities include a pool with cabanas, outdoor gaming lounge, entertainment kitchen, fitness center, dog park and an executive conference room. Way Capital arranged the loan on behalf of the owner, an entity owned by a partnership between Orion RE Holdings and Sabal Investment Holdings. The property was 92 percent occupied at the time of the loan closing.
GARLAND, TEXAS — A partnership between two Arizona-based investment firms, Rise48 Equity and Elevest Capital, has purchased Shiloh Oaks, a 248-unit apartment complex in the northeastern Dallas suburb of Garland that was built in 1983. According to Apartments.com, the property offers one- and two-bedroom units and amenities such as a pool, playground, fitness center, business center, clubhouse, dog park and outdoor grilling and dining stations. Taylor Snoddy, Eric Stockley and Charles Hubbard of Northmarq represented the undisclosed, California-based seller in the transaction. The new ownership plans to implement a capital improvement program that will enhance unit interiors and common spaces, as well as to rebrand the property as Rise Apollo Heights.
HOUSTON — JLL has arranged the sale of a 240,166-square-foot office building in the Energy Corridor area of West Houston. Energy Crossing I is a three-story building that was constructed on a 5.3-acre site at 15021 Katy Freeway in 2010. Amenities include a fitness center and a café. Kevin McConn and Rick Goings of JLL represented the undisclosed seller in the transaction. The buyer was Austin-based Capital Commercial Investments Inc. The sales price was not disclosed.
STEPHENVILLE, TEXAS — Greysteel has brokered the sale of Riverwalk Townhomes, a 76-unit affordable housing complex in Stephenville, about 80 miles southwest of Fort Worth. Built on 14 acres in 2004, Riverwalk Townhomes offers two-, three- and four-bedroom residences, specific income restrictions of which were not disclosed. Amenities include a pool, playground, fitness room, computer lab and outdoor grilling and dining stations. The developer, Tejas Housing Group, sold the property to an undisclosed, Dallas-based investor.
EULESS, TEXAS — Aero Dynamix Inc. has signed a 27,737-square-foot industrial lease renewal in Euless, located in the northern-central part of the metroplex. The designer and manufacturer of night-vision imaging products and services will remain a tenant within two different structures at Euless Industrial Park, a 227,319-square-foot development. Michael Spain and Jason Finch of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. The tenant representative was not disclosed.
STEAMBOAT SPRINGS, COLO. — Brinkman Real Estate has completed the disposition of Sundance Plaza, a multi-tenant mixed-use property in Steamboat Springs, to Denver-based private REIT. Located at 225 Anglers Drive, Sundance Plaza offers retail and office space. At the time of sale, the property was 98 percent occupied. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller in the deal.
AMERICAN FORK, UTAH — Gelt Venture Partners (GVP) has acquired Alvera at the Meadows in American Fork, about midway between Provo and Salt Lake City. The seller and sales price were not disclosed. The 142-unit property was developed in 2021 on about 4 acres. It features a mix of one-, two- and three-bedroom floor plans, as well as amenities such as a pool and hot tub, fitness center, clubhouse, package lockers and a playground. GVP is planning property upgrades during its hold. Brock Zylstra and Daniel Shin of Institutional Property Advisors (IPA) represented both the buyer and the seller in the transaction. GVP also acquired The Commodore, a 92-unit property in National City, Calif., in early August.
MURFREESBORO, TENN. — Trader Joe’s has purchased a newly constructed retail property that it occupies in Murfreesboro, roughly 35 miles southeast of Nashville, for $7.8 million. Jordan Powell, Lisa Maki and Mike Jacobs of Avison Young represented the locally based seller, TDK Corp., in the transaction. Trader Joe’s acquired the property by exercising its right of first refusal. The 13,050-square-foot grocery store is situated on 2.3 acres and opened earlier this year. Trader Joe’s is an outparcel to TDK’s adjacent planned development project, which will include 250 multifamily units and 30,000 square feet of office space. Founded in 1967, Monrovia, Calif.-based Trader Joe’s operates 608 stores across 43 states.
BURBANK, CALIF. — All for Health, Health for All Inc. has purchased an office property located at 601-697 Glenoaks Blvd. in Burbank from 601 Glenoaks LLC for $15.7 million. Kyle Barratt, Mark Perry, Edward Matevosian and Michell Tutor of CBRE, in collaboration with Scott Romick of Lee & Associates, represented the seller, while LA Premier Group represented the buyer in the transaction. The asset comprises a four-story 68,531-square-foot building, a single-story 9,457-square-foot building and a multi-level, semi-subterranean parking structure with 250 spaces. At the time of sale, the property was 62 percent leased. The value-add opportunity offered the buyer the ability to occupy the vacant portion of the building for its own operations.
