SALEM, N.H. — JLL has brokered the $7.7 million sale of three industrial buildings totaling roughly 55,000 square feet in Salem, located near the Massachusetts-New Hampshire border. The shallow-bay buildings, which were all fully leased at the time of sale, feature clear heights of 17 to 20 feet, tailboard and drive-in loading doors and approximately 15 percent office space in each building. Tommy Hovey, Michael Restivo and David Coffman of JLL represented the undisclosed seller in the transaction. The buyer was an entity doing business as JBCM LLC.
DENVER — Seminole Real Estate Fund has acquired Raleigh at Sloan’s Lake, a multifamily community in Denver, from Hines for $125.6 million, or approximately $504,417 per unit. Terrance Hunt, Shane Ozment, Chris Hart and Brad Schlafer of CBRE represented the seller in the transaction. Delivered in 2020, Raleigh at Sloan’s Lake features 249 studio, one- and two-bedroom apartments averaging 994 square feet. The residences offer stainless steel appliances, gas ranges, floor-to-ceiling windows and large walk-in closets. Community amenities include the Sky Lounge rooftop patio and lounge, a dining room and full kitchen, as well as a resort-style pool and fitness center, coworking spaces and a pet spa. Additionally, the property features 4,192 square feet of ground-floor retail space, which is fully leased to Livewell Animal Hospital.
EDISON, N.J. — Lee & Associates has negotiated an 88,620-square-foot industrial lease in the Central New Jersey community of Edison. The space is located within the Raritan Center business park and features 32-foot clear ceilings, 17 loading docks and an ESFR sprinkler system. Claudia Ganas, Monica Franco and Ana Carolina DeAraujo of Lee & Associates represented the tenant, an undisclosed freight forwarding company, in the lease negotiations. Vincent Visceglia internally represented the landlord, Summit Associates.
SCOTTSDALE, ARIZ. — Embrey has completed the disposition of The Quincy at Kierland, an apartment community in Scottsdale, to Stockdale Capital Partners for $110 million, or $414,474 per unit. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Completed in 2024, The Quincy at Kierland offers 266 apartments with high ceilings, engineered hardwood flooring, separate laundry rooms and smart-home technology. Community amenities include a centralized courtyard with a swimming pool and spa and a fitness center with indoor and outdoor accessibility.
SAN DIEGO AND LOS ANGELES — Berkadia has arranged the sale and financing of two senior living communities located in Southern California. Situated within suburbs of San Diego and Los Angeles, respectively, the properties include an 84-unit assisted living community and a 72-unit memory care community. Together, the communities were roughly 90 percent occupied at the time of financing. Mike Garbers, Cody Tremper, Ross Sanders and Dave Fasano of Berkadia brokered the sale on behalf of the seller, a private owner. Ed Williams and Steve Muth of Berkadia secured acquisition financing through Berkadia’s proprietary lending group on behalf of the undisclosed buyer. The bridge-to-HUD loans feature interest-only payments for 24 months.
SAN DIEGO — CBRE has arranged the sale of La Plaza La Jolla, a multi-tenant retail ground lease located at 7863-7877 Girard Ave. within La Jolla Village in San Diego. A private family office acquired the asset from La Plaza Investment for $10.2 million. Built in 1986 and renovated in 2015, the 28,866-square-foot property is fully leased to a mix of restaurant, boutique and experiential tenants. Michael Peterson, Reg Kobzi and Jimmy Slusher of CBRE represented the seller in the transaction.
LAS VEGAS — Avison Young has facilitated the sale of an 18,000-square-foot retail property located at 6315 S. Rainbow Blvd. in Las Vegas. A Las Vegas-based private trust sold the asset to Syndicate MMA, a mixed martial arts gym and property tenant since 2019, for $6.6 million. Syndicate MMA occupies 15,000 square feet of the building, with a salon and medical practice occupying the remaining space. Hillary Steinberg and Corina Towle of Avison Young represented the seller, while Kevin Jacobson of Iron Will LLC represented the buyer in the deal.
MAPLE GROVE, MINN. — CBRE has negotiated the sale of Mills Creek, a 66-unit build-to-rent community in the Twin Cities suburb of Maple Grove. Curtis Capital Group purchased the property from a joint venture between Watermark and PCCP for an undisclosed amount. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented the seller. Built in 2019, the asset features detached homes averaging 1,679 square feet. Amenities include a clubroom, business center, pool, dog park, fitness center, community garden and walking trails.
MARQUETTE, MICH. — Woda Cooper Cos. Inc. and the Keweenaw Bay Indian Community (KBIC) have opened Black Rock Crossing, a 50-unit affordable housing project in Marquette. The property features 26 one-bedroom units and 24 two-bedroom apartments for residents who earn between 30 to 80 percent of the area median income. Nine of the units are set aside for members of KBIC, and five units are adapted for people with mobility disabilities or sight/hearing challenges. Monthly rents range from $302 to $1,175, depending on income limits and size of unit. Amenities include a second-floor outdoor terrace, multipurpose room, fitness center, common laundry and outdoor playground area. The building is certified as LEED Zero Energy, which will result in lower energy costs for residents. The Michigan State Housing Development Authority allocated housing tax credits, which were purchased by KeyBank Community Development Lending and Investment to provide equity financing. KeyBank also provided a construction loan. Cedar Rapids Bank & Trust provided the permanent mortgage. The City of Marquette approved a Payment in Lieu of Taxes, and the Marquette Housing Commission provided eight project-based vouchers for rental assistance. PCI Design Group Inc. was the architect, and Woda Construction Inc. served as general contractor. Woda …
CHICAGO — Interra Realty has arranged the sales of two Chicago apartment buildings. A 14-unit property constructed in 2023 at 5069 N. Northwest Highway in the Jefferson Park neighborhood sold for $5.7 million, while an eight-unit building completed in 2020 at 2034 N. Avondale Ave. in the Bucktown neighborhood traded for $4.9 million. Brad Feldman of Interra represented the seller, a private local developer, in both transactions. Michael Duckler of Interra represented the confidential buyer of 5069 N. Northwest Highway. The private buyer of 2034 N. Avondale Ave. acquired the property as part of a 1031 exchange and assumed the seller’s debt on the asset. Both properties were fully occupied at the time of sale.