Property Type

Cushman & Wakefield Brokers $28.3M Sale of Apartment Community in Birmingham

by Camren Skelton January 18, 2018

BIRMINGHAM, ALA. — Cushman & Wakefield has arranged the $28.3 million sale of Chace Lake Villas, a 264-unit apartment community in Birmingham. Jimmy Adams and Josh Jacobs of Cushman & Wakefield arranged the transaction on behalf of the seller, Bluerock Real Estate. Myers Apartment Group acquired the property. Constructed in 1996, Chace Lake Villas is situated within walking distance to more than 2 million square feet of retail space, including Riverchase Galleria and Patton Creek Shopping Center. Community amenities include a 24-hour fitness center, resort-style swimming pool, lighted tennis court, clothing care center and a car care center.

January 18, 2018

Loans Multifamily Washington Western

KeyBank Provides $54.8M Freddie Mac Refinancing for 193-Unit Apartment Community in Seattle

by Nellie Day January 18, 2018

SEATTLE — KeyBank Real Estate Capital has provided $54.8 million in Freddie Mac financing for the 193-unit Angeline Apartments in Seattle’s Columbia City neighborhood. The community is located at 4801 Rainier Ave. S. Angeline Apartments was built in 2015. The property includes five floors of apartments, ground-floor retail space and an underground garage. The retail component includes PCC Natural Grocers, the largest consumer-owned natural food retail co-operative in the U.S., and All the Best Pet Care. KeyBank’s Jon Reible arranged the fixed-rate loan with a 10-year term. The funds were used to refinance existing debt.

January 18, 2018

Arizona Industrial Office Western

Rich Uncles Acquires 162,714 SF Creative Office, Warehouse Space in Arizona for $26.5M

by Nellie Day January 18, 2018

CHANDLER, ARIZ. — Rich Uncles NNN REIT Inc. has purchased a 162,714-square-foot creative office/warehouse space in Chandler for $26.5 million. The property serves as the headquarters for AvAir, a commercial aircraft parts business. The property is located at 6877 and 6971 W. Frye Road. The sale agreement allows AvAir to occupy the space for 15 years. Developed in 2015, the two buildings sit on 6.1 acres in the Santan Technology Park at the northeast corner of Loop 202 and 56th Street. Andy Ogan of Lee & Associates Arizona brokered the sale. John Hink of Tiffany & Bosco P.A. assisted the seller, Reasons Aviation LLC.

January 18, 2018

California Multifamily Western

Jamison Purchases Multifamily Development Site in Koreatown for $14M

by Nellie Day January 18, 2018

LOS ANGELES — Jamison has purchased a grouping of parcels at the corner of 8th Street and Harvard Boulevard in Los Angeles’ Koreatown neighborhood for $14 million. The local privately held real estate investment and operating company plans to demolish the vacant apartment and commercial buildings on the site to make way for a new multifamily development. The plot is fully entitled for 131 residential units and 4,150 square feet of retail. CBRE’s Laurie Lustig-Bower and Kamran Paydar represented the seller, Harvard 826 Property LLC, a private investor owned by Hersel Neman and Robert Neman.

January 18, 2018

Colorado Multifamily Western

Inland Real Estate Buys 267-Unit Apartment Complex in Lakewood, Colorado

by Nellie Day January 18, 2018

LAKEWOOD, COLO. — Inland Real Estate Acquisitions has purchased the 267-unit Union West Apartments in Lakewood for a reported $81 million. The community is located at 35 Van Gordon St., six blocks from the RTD West Light Rail Line. The mid-rise property contains 20 studios, 141 one-bedroom, 90 two-bedroom and 16 three-bedroom units. Union West also offers a garage with 402 covered parking spaces and 18 open spaces. Units include gourmet kitchens, quartz countertops, stainless steel appliances, walk-in closets, a washer and dryer, a garden bathtub and a patio or balcony. Union West Apartments is also equipped with energy-efficient air conditioning, heating, water heaters and windows. All lighting throughout the property is LED and the garage and corridors are powered by solar panels on the roof. Community amenities include a resort-style heated pool, fitness and yoga studio, fire pit, grilling stations, pet-friendly park and mountain views.

January 18, 2018

California Industrial Western

Sunshine Metals Leases 68,394 SF Industrial Warehouse in Corona, California

by Nellie Day January 18, 2018

CORONA, CALIF. — Sunshine Metals has signed an eight-year lease for a 68,394-square-foot freestanding industrial warehouse in Corona. The property is located at 1228 Sherborn St. The lease is valued at $4 million. Sunshine Metals is relocating from a previous Fullerton outpost. The company chose the building based upon its upgraded amenities and ease of access throughout Southern California, as well as to the ports of Los Angeles and Long Beach that the Inland Empire provides. Chris Migliori of DAUM Commercial Real Estate Services represented the landlord, Excel Business Park, in this transaction. JLL’s Cameron Driscoll and Luke McDaniel represented Sunshine Metals.

January 18, 2018

Multifamily New Jersey Northeast Seniors Housing

Solvere Senior Living to Open $59.1M Seniors Housing Community in New Jersey

by Amy Works January 18, 2018

HAMILTON TOWNSHIP, N.J. — Solvere Senior Living will open Homestead at Hamilton, a $59.1 million seniors housing community in New Jersey, on Feb. 8. The project is located in the Trenton suburb of Hamilton Township, midway between New York City and Philadelphia. It will feature 96 independent living apartments, 75 assisted living apartments and 24 memory care apartments. The four-story building sits on a 24-acre site. Pike Construction Co. built the property, which J. Randolph Parry Architects PC designed. Andy Fritz will serve as general manager of the community. Based in Princeton, N.J., Solvere is an operator of seniors housing communities in Florida, New York, New Jersey, Texas, Maryland, West Virginia, Virginia and Indiana. Its partner company, Solutions Advisors, provides marketing, sales, consulting and creative services to the seniors housing industry nationwide.

January 18, 2018

Loans Multifamily New Hampshire Northeast

NorthMarq Capital Secures $36.2M Construction Loan for Apartment Project in New Hampshire

by Amy Works January 18, 2018

LONDONBERRY, N.H. — NorthMarq Capital has arranged a $36.2 million construction loan for a multifamily property located in Londonberry. Mark Whelan of NorthMarq Capital secured the financing for the undisclosed borrower. The borrower plans to develop a 228-unit multifamily property, with a portion of the units designated as workforce housing. The financing terms include a permanent option at stabilization.

January 18, 2018

Multifamily New York Northeast

TerraCRG Arranges $6.3M Sale of Two Multifamily Buildings in Brooklyn

by Amy Works January 18, 2018

NEW YORK CITY — TerraCRG has brokered the sale of two multifamily buildings located at 460-464 Prospect Ave. in Brooklyn’s Prospect Park. An undisclosed buyer acquired the assets for $6.3 million. Adam Hess, Eddie Setton and Aaron Birns of TerraCRG facilitated the transaction. Totaling 15,120 square feet, the property features 16 two-bedroom apartments, with nine rent-stabilized and seven free-market units.

January 18, 2018

Connecticut Northeast Office

Trumbull Developers Acquires 78,692 SF Office Building in Trumbull, Connecticut, for $4.5M

by Amy Works January 18, 2018

TRUMBULL, CONN. — Trumbull Developers has purchased an office building located on 10.7 acres at 100 Oakview Drive in Trumbull. Canon USA sold the 78,692-square-foot property for $4.5 million. The buyer plans to demolish the existing building and develop a six-building residential community featuring 202 apartments. Tim McMahon and Rich Lee of O,R&L Commercial represented the seller and procured the buyer in the deal.

January 18, 2018

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