OKLAHOMA CITY — Arlington-based investment firm 180 Multifamily Capital has acquired Pheasant Run, a 271-unit apartment community in Oklahoma City. Situated on 12 acres on the city’s northwest side, the property features one- and two-bedroom units and amenities such as a pool, clubhouse and onsite laundry facilities. 180 Multifamily will renovate and rebrand the community, which was acquired from the undisclosed developer.
HOUSTON — FMC Technologies Inc., which produces equipment for energy exploration, has sold its 108,750-square-foot facility located at 11220 T.C. Jester Blvd. in Houston. Graham Horton and Glynn Mireles of CBRE represented FMC Technologies in the sale. Andy Spence of Cushman & Wakefield represented the buyer, Centerpoint Energy Houston Electric LLC.
ALLEN, TEXAS — Florida-based finance firm Churchill Stateside Group LLC (CSG) has provided a $12.9 million HUD construction loan for Springwood at Allen, a 92-unit community in the northeastern Dallas suburb of Allen that will serve seniors aged 62 and above. CSG closed the loan through HUD’s 221(d)(4) program on behalf of an undisclosed borrower. Construction of the community began in December 2018.
HOUSTON — Marcus & Millichap has brokered the $7.4 million sale of Gessner Plaza, a 51,400-square-foot retail center located at 8703 W. Bellfort St. in southwest Houston. Derek Hargrove and Riley Sharman of Marcus & Millichap represented the seller, a Houston-based partnership, in the transaction. The buyer was not disclosed.
LOS ANGELES — Beverly Hills, Calif.-based Weiss Development has completed the sale of a four-property retail portfolio located in Los Angeles’ Northridge and South Bay neighborhoods. A mix of private and institutional investors acquired the portfolio for $35 million. Totaling more than 65,400 square feet, the properties include a Petco-occupied asset in Northridge and a Petco-occupied, an Office Depot-occupied and a multi-tenant property in South Bay. Tenants at the multi-tenant property include Starbucks Coffee, Subway, Flame Broiler and Sushi Boy. Bill Bauman, Kyle Miller and Dan Samulski of Newmark Knight Frank represented the seller in the transaction.
SACRAMENTO, CALIF., AND SALT LAKE CITY — Nearon has added 730,000 square feet of industrial space to its portfolio of industrial properties through two separate transactions. In the first deal, Nearon acquired three buildings, totaling 521,000 square feet, in Sacramento, for an undisclosed price. American Building Supply, a subsidiary of Jeld-Wen Holding, occupies and utilizes the properties for manufacturing, distribution and headquarters functions. The portfolio includes a 196,267-square-foot asset at 8360 Elder Creek Road, a 217,500-square-foot building at 6300 S. Watt Ave. and a 108,000-square-foot property at 8920 43rd Ave. Nick Rini of Nearon directed the Sacramento portfolio acquisition, while Kevin Partington and Matt Cologna of Cushman & Wakefield represented the undisclosed seller. In the second transaction, the company completed a sale-leaseback with Regis Corp. for an 210,000-square-doot distribution center located at 5300 W. Harold Gatty Drive within Salt Lake International Center in Salt Lake City. Upon close of escrow, Regis leased the property, which was developed as a build-to-suit for the tenant in 2001, for 15 years. Chang Soo Lee of Nearon orchestrated the off-market acquisition and sale-leaseback, while Wick Udy and Andrea Robb of JLL sourced the transaction on behalf of Nearon. With these acquisitions, Nearon’s industrial portfolio …
WESTLAKE VILLAGE, CALIF. — CBRE has arranged $25.9 million in debt financing Palm Beach, Fla.-based Sterling Organization’s acquisition of North Ranch Gateway, a retail center in Westlake Village. The vertically integrated private equity real estate firm purchased the 86,520-square-foot property for $35 million in 2018 on behalf of its managed funds. Located at 30805-30895 Thousand Oaks Blvd., the property is anchored by TJ Maxx and was 78 percent occupied at the closing of financing. Shaun Moothart, Dana Summers, Bruce Francis, Bob Ybarra and Doug Birrell of CBRE’s Debt and Structured Finance team arranged the floating-rate financing.
PATTERSON, CALIF. — Marcus & Millichap has arranged the sale of Best Western Plus Villa Del Lago Inn, a hospitality property located at 2959 Speno Drive in Patterson. A limited liability company sold the property for $8.6 million. Built in 2000, the property features 82 interior corridor rooms and a restaurant, Francesca’s Restaurant and Lounge. Gordon Allred and Kelly Hansen of Marcus & Millichap represented the seller and the buyer, a limited liability company, in the deal.
BEND, ORE. — Compass Commercial Real Estate has brokered the sale of The Scanlon Building, an office property located at 300 SW Columbia St. in Bend. Clise Realty sold the property to Paul and Tanya Alston for $3.4 millon. The two-story property features 12,395 square feet of office space. Jay Lyons and Grant Schultz of Compass Commercial Real Estate represented the seller, while Lyons, Schultz and Peter May, also of Compass Commercial, represented the buyer in the transaction.
VERNON HILLS, ILL. — FPA Multifamily LLC has acquired The Commons at Town Center in the North Shore community of Vernon Hills for an undisclosed price. The property consists of 85 apartment units and more than 10,000 square feet of ground-floor retail space leased to Sam Martirano Salon & Spa, Hawthorn Dental Associates, Design Studio Jewelry, Eight Piece and Giuseppe’s Pizza. Completed in 2010, the six-story property is located just northwest of Highway 45 and North Milwaukee Avenue. Community amenities include a heated parking garage, fitness center, hospitality room and resident lounge. Both the residential and retail components are fully leased. Wick Kirby, Sean Fogarty, Marty O’Connell and Kevin Girard of HFF marketed the property on behalf of the seller, Inland Residential Properties Trust Inc. The team also procured the buyer.
