NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use building located at 219 E. 60th St. in Manhattan’s Midtown East section for $5.2 million. Vacant at the time of sale, the five-story building features retail space on the ground and second floors and open-floorplan offices on the remaining floors, which leaves options available for a residential conversion. Clint Olsen, Alex Woodlief and Will Conrad of Cushman & Wakefield represented the undisclosed seller, while Leslie Wang of Essential New York Real Estate represented the buyer, Ling Jiou Mountain Buddhist Society, in the deal.
DENVER — AvalonBay Communities has purchased the 252-unit the Lodge Denver West apartment complex for $76.8 million. The community is located at 14125 Denver W. Circle in the Denver submarket of Lakewood. The Lodge Denver West was built in 2016. The acquisition marks AvalonBay’s entry into the Denver metropolitan area.
CENTNENIAL, COLO. — A joint venture between MBC Partners and Rob Mossburg, Bill Booth and Chris Copps of Corient Venture Partners has opened the 146-room WaterWalk hotel in Centennial. The 123,378-square-foot asset is located at 11400 E. Peakview Ave. The property is a hybrid hotel and apartment concept. It was originally planned as a corporate site but is now the company’s first franchise location to open. WaterWalk combines the space and comfort of apartment living with the services of an upscale hotel. Business travelers can stay for a few nights or several months during relocations, training or projects. Rooms feature fully equipped modern kitchens, full-size in-room washers and dryers, housekeeping and customized breakfast options. Other amenities include an on-site fitness center, 300 DirecTV channels, internet and 24/7 front desk service. WaterWalk was created by entrepreneur Jack DeBoer, founder of Residence Inn (now Marriott), Candlewood Suites, Value Place/WoodSpring Suites and Summerfield Suites (now Hyatt House). This is the second WaterWalk property. The first opened in Wichita, Kan., in November 2014.
TEMPE, ARIZ. — Chicago-based CA Student Living has completed seven student housing communities comprising more than 3,600 beds. Located in six different states, the communities opened throughout August and, together, are 96 percent leased for the upcoming academic year. Recent deliveries include RISE on Apache, an 833-bed community located near Arizona State University in Tempe; Identity Reno, a 325-bed community located near the University of Nevada, Reno in Reno; and Uncommon Fort Collins, a 247-bed community located near Colorado State University in Fort Collins, among other communities. CA Student Living plans to complete another seven communities comprising 2,200 beds in 2018 and an additional eight properties with 4,100 beds in 2019.
MISSOULA, MONT. — Campus Advantage has been awarded management of ROAM, a 498-bed student housing community currently under development near the University of Montana in Missoula. The property is the first purpose-built student housing complex to serve the University of Montana, according to Campus Advantage. Shared amenities will include a bike and ski tuning shop, outdoor kitchens with grilling stations, a fire pit and an expansive fitness center. Austin-based Catalyst will also manage brand development alongside Campus Advantage. The property is scheduled to open next fall.
LOS ANGELES — Casper, an online mattress retailer, has launched a multi-city retail expansion in more than a dozen locations across North America, including Los Angeles. This marks Casper’s first significant investment in a company-owned retail presence across the U.S. The new shops will showcase Casper’s offerings, including allowing shoppers to experience the mattresses, pillows and sheets. The pop-up shops are scheduled to launch in October 2017 and will be open through spring of 2018 in Los Angeles, New York, Chicago and other major metropolitan areas.
ODENTON, MD. — Crows Holdings Capital – Real Estate has purchased NOVUS Odenton, a 244-unit multifamily property in Odenton, roughly 30 miles northeast of Washington, D.C. The sales price was not disclosed. Walter Coker and Brian Crivella of HFF marketed the property on behalf of the seller, a joint venture between Cafritz Interests and Clark Enterprises Inc. Located at 315 Nevada Ave., NOVUS Odenton is within walking distance of the Odenton MARC train station, which provides service to both the D.C. and Baltimore central business districts. The community includes one-, two- and three-bedroom units and features nine-foot ceilings, granite countertops, faux wood plank flooring, walk-in closets and in-unit washers and dryers. Community amenities include a swimming pool, patios with outdoor cooking areas, fitness center, yoga room, theater and media room, game room and a pet-grooming salon.
JOHNS CREEK, GA. — Sealy & Co. has acquired the Johns Creek Value & Income Portfolio, a 277,201-square-foot, single-story office portfolio in Johns Creek, roughly 30 miles north of Atlanta. The acquisition was made on behalf of Sealy Strategic Equity Partners. The sales price was not disclosed. At the time of sale, the portfolio was 89 percent leased and home to three company headquarters: ARRIS International, Femasys and Alpha Advanced Materials.
LITHIA SPRINGS, GA. — Katz Properties has acquired the Village at Westfork, a Kroger-anchored shopping center in Lithia Springs, for $11.6 million. The 75,947-square-foot property is roughly 18 miles west of Atlanta. Ladder Capital provided financing for the acquisition. The seller was not disclosed. New York-based Katz Properties is a real estate investment, development and management company that focuses on the acquisition, operation and repositioning of shopping centers on the East Coast.
TALLAHASSEE, FLA. — Dougherty Mortgage LLC has arranged an $8.8 million Fannie Man loan for the acquisition of Rolling Hills Apartments, a 152-unit multifamily community in Tallahassee. The 12-year loan utilized Fannie Mae’s Green Rewards program and was structured with five years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, Rolling Hills Investors LLC. The apartment community features a swimming pool, picnic area with grills and a fitness center.