LEHIGH VALLEY, PA. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 180-bed skilled nursing facility located in the Lehigh Valley region of eastern Pennsylvania. A regional owner-operator acquired the property for $18.8 million, or approximately $104,000 per bed. The seller was looking to restructure its regional portfolio. Michael Segal and Ben Firestone of Blueprint negotiated the transaction.
OKLAHOMA CITY — Dallas-based Vanguard Real Estate Advisors has brokered the sale of Spring Hill Apartments, a 104-unit multifamily property in Oklahoma City. Built in 1984, the pet-friendly community offers studio, one- and two-bedroom units. Jordan Cortez of Vanguard represented the seller, Chicago-based AMG Cherry Hill LLC, in the all-cash transaction. Cortez also procured the buyer, a private investor based in North Texas that acquired the property via a 1031 exchange.
NEW YORK CITY — TerraCRG has arranged the sale of a vacant, six-unit apartment building in the Bushwick neighborhood of Brooklyn. Located one block from the Jefferson Street L subway station at 1271 Willoughby Ave., the 5,000-square-foot property is situated in a popular retail corridor. Matt Cosentino, Fred Bijou and Eric Satanovsky of TerraCRG brokered the deal. TerraCRG represented the seller, Bushwack LLC, which purchased the property in 2014. The brokerage firm also represented the buyer, Cycamore Capital, an investment firm based in Brooklyn.
SAN ANTONIO — Florida-based Michaelson Real Estate Group and its private equity partners have acquired The Fountains Apartment Homes, a 101-unit multifamily community in San Antonio. Built in 1973, the property is located in northwest San Antonio, near the University of Texas at San Antonio (UTSA), San Antonio International Airport and Hulu’s 60,000-square-foot viewer operations center. Amenities include a pool, picnic/grilling area and on-site laundry facilities. The seller was not disclosed.
NEW YORK CITY — Alpha Realty has brokered the sale of a 10,000-square-foot multi-use building in the Upper East Side of Manhattan for $7 million. The property, located at 148 East 98th St., is a newly constructed six-story elevator building with 11 apartments and one commercial unit. The property sold at a capitalization rate of 3.4 percent. Lev Mavashev and Glenn Raff of Alpha Realty brokered the transaction with Raff representing the seller, a local private investor. Mavashev procured the buyer, Rebar Development Group.
DALLAS — Stream Realty Partners has negotiated the sale of a 69,866-square-foot warehouse located at 9225-9249 King James Drive in Dallas. The property is located on the northwest side of the city. Jason Moser of Stream Realty Partners represented the seller, 9225-9249 King James LLC. King James Properties LLC purchased the asset for an undisclosed price.
RESTON, VA. — JBG Smith has sold Summit, a two-building office campus in Reston, to Brookfield Property Partners (BPY) for $95 million. Summit I and Summit II are located along Dulles Toll Road, roughly 22 miles northwest of Washington, D.C. The property, which includes more than 290,000 rentable square feet, was fully leased at the time of sale. In 2016, nonprofit science and technology company Noblis Inc. signed a 160,000-square-foot lease at the property, taking all of Summit I and a portion of Summit II, according to the Washington Business Journal. Tom Cleaver, Dan Grimes and Rob Faktorow of CBRE arranged the transaction on behalf of both JBG Smith and BPY. Summit features a fitness center, showers, bike racks, an on-site deli and shuttle service to Reston Town Center, a mixed-use development featuring offices, retail and restaurant space. The property is located one mile from the future Reston Town Center Metro station.
ANNAPOLIS, MD. — Hersha Hospitality Trust has acquired the Annapolis Waterfront Hotel, a 150-room hotel in Annapolis, for $41.5 million. The name of the seller was not disclosed. The hotel was rebranded to Marriott International’s Autograph Collection Hotels in 2015, and features a business center, docking, laundry service, fitness center and an onsite restaurant and bar — Pusser’s Caribbean Grille. The hotel is situated on the Chesapeake Bay harbor, adjacent to the Annapolis town square and three blocks from the main gate of the United States Naval Academy.
ALEXANDRIA, VA. — The Meridian Group has sold Cameron Run, a 145,244-square-foot office building in Alexandria, for $37.8 million. The property is located at 3601 Eisenhower Ave., roughly eight miles south of Washington, D.C. Monday Properties acquired the six-story building. Eric Berkman and the late Juliana Ko of Cushman & Wakefield arranged the transaction on behalf of Meridian, which originally acquired the asset in 2012. Meridian invested $1.7 million in capital improvements at Cameron Run, including cooling tower replacements, garage enhancements, a new fitness center, new café, additional landscaping and a renovated lobby, restrooms and elevators. The building was fully leased at the time of sale to 13 tenants, including engineering company Michael Baker Corp., which occupies 50,709 square feet.
WILMINGTON, N.C. — Cushman & Wakefield has brokered the $30.3 million sale of Myrtle Landing, a 144-unit apartment community in the coastal North Carolina town of Wilmington. Jordan McCarley, Watson Bryant and Paul Marley of Cushman & Wakefield arranged the transaction on behalf of the seller, Tribute Cos. Spyglass Capital Partners acquired the property. The townhome-style community includes two- and three-bedroom floor plans and features a dog park, outdoor grilling kitchen, fitness center, pool and onsite maintenance. In addition, the property is located roughly five miles from Carolina Beach.