Property Type

Rosewood Realty Facilitates Sale of $44.1M Apartment Building in Manhattan

by David Cohen March 26, 2018

NEW YORK CITY — Rosewood Realty Group has arranged the sale of a 56,700-square-foot apartment building in Manhattan for $44.1 million. Located at 1274-1275 Fifth Ave., the six-story, 54-unit building sold at a capitalization rate of 2.71 percent. Former New York City Mayor Fiorello LaGuardia, who held office from 1934-1945, lived in the penthouse of the building shortly before Gracie Mansion became the official mayoral residence in 1942. Billy Billitzer of Rosewood Realty represented the buyer, Akelius Real Estate Management. Aaron Jungreis, also of Rosewood, represented the seller, Ofer Yardeni’s Stonehenge Partners. The property is located just east of Central Park on Fifth Avenue’s Museum Mile.

March 26, 2018

Acquisitions Multifamily Texas

NewQuest Brokers Sale of 426-Unit Apartment Community in Houston

by Taylor Williams March 26, 2018

HOUSTON — NewQuest Properties has brokered the sale of Chateaux Dijon Apartments, a 426-unit multifamily community located at 5331 Beverly Hill St. in Houston’s Galleria neighborhood. The property consists of one-, two- and three-bedroom units ranging from 510 to 1,380 square feet. Amenities include several pools, a fitness center, coffee bar, dog park, conference room and a business center. Glenn Dickerson of NewQuest Properties represented the seller, FHB Beverly Hill LP, and procured the buyer, Florida-based investment firm Avesta Communities LLC. The property was developed in the 1960s and renovated in 2016.

March 26, 2018

Acquisitions Industrial Massachusetts Northeast Office Pennsylvania

Goldman Sachs Acquires Five-Property Industrial Portfolio in Suburban Philadelphia and Boston

by David Cohen March 26, 2018

MALVERN AND LANGHORNE, PA., FRANKLIN, MASS. — Goldman Sachs Asset Management Private Real Estate (GSAM) has acquired a portfolio of five industrial flex properties in suburban Philadelphia and Boston totaling 525,000 square feet for an undisclosed amount. The properties are located in Malvern and Langhorne Pa., and Franklin, Mass. The addition of the five properties brings GSAM Private Real Estate’s industrial portfolio in the Northeast and Mid-Atlantic regions to 13 properties totaling 2.4 million square feet. GSAM Private Real Estate represented itself in the transaction. The seller was not disclosed.

March 26, 2018

Acquisitions Multifamily New York Northeast

GFI Realty Services Brokers Sale of 46-Unit Apartment Building in Brooklyn for $12.5M

by David Cohen March 26, 2018

NEW YORK CITY — GFI Realty Services has arranged the sale of a six-story, 46-unit apartment building in the Bay Ridge neighborhood of Brooklyn for $12.5 million. The pre-war property, located at 218 74th St., consists of 16 studios, 28 one-bedroom units and a couple of two-bedroom units, all of which are rent-stabilized. Yosef Katz and Natan Safdieh of GFI Realty represented the seller in the transaction, Madeleine Behette, a local investor. Erik Yankelovich, also of GFI, procured the buyer, Meridian Properties. The property is located on a tree-lined block between Ridge Boulevard and 3rd Avenue.

March 26, 2018

Acquisitions Multifamily Texas

NAPA Ventures Sells 144-Unit Multifamily Community in Arlington

by Taylor Williams March 26, 2018

ARLINGTON, TEXAS — NAPA Ventures has sold Parkside Townhomes, a multifamily community in Arlington that features 144 rentable townhome units. The property, which is located within three miles of AT&T Stadium and Globe Life Park, offers two- and three-bedroom units and a pool. Prior to the sale, NAPA invested in capital improvements to the property’s landscaping, parking lots and exterior lighting, as well as the cabinets, countertops and floors of the units. The buyer was not disclosed.

March 26, 2018

Acquisitions Multifamily New York Northeast

Westbridge Realty Arranges Sale of Six-Unit Apartment Building in Queens for $2.2M

by David Cohen March 26, 2018

NEW YORK CITY — Westbridge Realty Group has arranged the sale of a 5,600-square-foot apartment building located at 20-35 Gates Ave in the Ridgewood neighborhood of Queens. The vacant six-unit building, which was built in 1930, sold for $2.2 million. The sales price equates to $379,000 per unit. Adam Traub and Isaac Shrem of Westbridge Realty represented both the buyer, an active investor in Queens, and the seller, a long-term holder who purchased the property in 1985.

March 26, 2018

Acquisitions Industrial Texas

Stream Realty Arranges Sale of 54,000 SF Industrial Building in Metro Dallas

by Taylor Williams March 26, 2018

GARLAND, TEXAS — Stream Realty Partners has arranged the sale of a 54,000-square-foot industrial building located at 2601 W. Kingsley Road in the Dallas metro of Garland. Kingsley Industrial LLC sold the property to Snell Motor Co. Inc. for an undisclosed price. Matt Dornak and Ryan Wolcott of Stream Realty Partners brokered the sale.

March 26, 2018

Leasing Activity Office Texas

NAI Partners Negotiates 12,000 SF Office Lease in Metro Houston

by Taylor Williams March 26, 2018

KINGWOOD, TEXAS — NAI Partners has negotiated an office lease at One Kingwood Place, a 200,000-square-foot office campus located in the northern Houston suburb of Kingwood. Oil and gas firm Valence Operating Co will occupy 12,000 square feet at the campus. Jacob Aldridge, Zach Leger and Rani Jones of NAI Partners represented the landlord in the lease negotiations. Kyle Whitney and Victor Valenzuela of Transwestern represented Valence Operating Co.

March 26, 2018

Acquisitions Alabama Georgia Kentucky Multifamily North Carolina South Carolina Southeast

Providence Sells Interest in 14-Property Multifamily Portfolio Located Throughout Southeast

by Camren Skelton March 26, 2018

GLENVIEW, ILL. — Glenview-based Providence, the parent company of Providence Management Co. LLC, has sold its interest in a 14-property, 3,451-unit multifamily joint venture portfolio located throughout the Carolinas, Alabama, Georgia and Kentucky. In North Carolina, the portfolio included three properties in Charlotte and three properties in Greensboro. In South Carolina, the portfolio included three properties in Greenville and a property in Spartanburg. In addition, the portfolio included a property in Huntsville, Ala., Savannah, Ga., and Lexington, Ky. The sales price and specific property names were not disclosed.

March 26, 2018

Acquisitions Georgia Industrial Self-Storage Southeast

U-Haul Acquires 324,000 SF Warehouse South of Atlanta, Plans 1,800-Unit Self-Storage Facility, Regional Office

by Camren Skelton March 26, 2018

STOCKBRIDGE, GA. — U-Haul Co. has acquired a 324,000-square-foot warehouse located at 471 Eagles Landing Parkway in Stockbridge, roughly 19 miles southeast of downtown Atlanta. Other terms of the deal were not disclosed. U-Haul Mobility & Storage at Eagles Landing will be repurposed to offer 1,800 indoor self-storage units for rent. The facility will include a mix of climate-controlled and non-climate-controlled units and security features. In addition, the warehouse will house a new regional office for U-Haul. The company’s operations will encompass 108,000 square feet, and the remaining 216,000 square feet will be available for lease. The facility will employ approximately 20 people when fully operational, and will feature a sidewalk expansion for customers who arrive by golf cart, an electrical charging station for golf carts and a walking and biking path. In the coming weeks, U-Haul will allocate warehouse space to store more than 300 U-Box portable moving and storage containers and lot space to accommodate 40 U-Haul truck boxes, providing immediate storage solutions for customers while self-storage rooms are under construction. A construction timeline was not disclosed.

March 26, 2018

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