Property Type

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VANCOUVER, WASH. — Green Light Housing has purchased Carriage Housing Apartments, a garden-style affordable housing property located at 4714 N.E. 72nd Ave. in Vancouver, from Jackson Square Properties. The sales price was $35.4 million. Joe Nydahl and Josh McDonald of CBRE represented the buyer and the seller in the deal. CBRE Debt & Structured Finance’s Nick Santangelo, Micah Springston and Matt Thorp sourced accretive financing through Fannie Mae’s Multifamily Affordable Housing Program at 75 percent loan-to-value. Built in 1993, Carriage Housing Apartments features 160 one-, two- and three-bedroom apartments. Community amenities include a pool, fitness center, clubhouse and a gated entry.

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WALTHAM, MASS. — Biocytogen, which provides animal and cell model generation for preclinical research, has signed a 35,000-square-foot life sciences lease in Waltham, a western suburb of Boston. Biocytogen now occupies about 70,000 square feet at the 143,533-square-foot building at 300 Third Ave. Tim Allen of Colliers represented the tenant in the lease negotiations. Tim Latham, Christopher Scott and Chris Devaux represented the landlord, Dallas-based Lincoln Property Co., on an internal basis.

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COMMERCE, CALIF. — Newmark has negotiated the $34.1 million sale of Holland Flower Market, a Class A industrial facility located at 5555 E. Slauson Ave. in Commerce. Jeff Cannon, Sage Segal and Greg Tippin of Newmark represented the undisclosed buyer in the deal. The seller was also not disclosed. The 91,010-square-foot asset features 32-foot clear heights, a 9,994-square-foot two-story office component, ESFR fire sprinklers and a fully secured truck court. Additionally, the building includes six dock-high loading positions and one grade-level door. Situated on 3.5 acres, the property offers immediate access to interstates 5 and 710 and proximity to downtown Los Angeles, key railyards and the ports of Los Angeles and Long Beach.

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WHEAT RIDGE, COLO. — Denver-based MGL Partners will develop an affordable seniors housing community in Wheat Ridge, approximately 10 miles outside downtown Denver.  The community will be situated within the redevelopment of the former Lutheran Hospital campus. MGL Partners recently executed a purchase-and-sale agreement with E5x Management, which is leading the redevelopment of the hospital campus, for the project site.  Dubbed Legacy Terrace Apartments, the community will feature 50 units for residents age 62 and older earning between 30 and 80 percent of the area median income. MGL Partners plans to pursue Low-Income Housing Tax Credit financing and Colorado state tax credits in February 2027.  Construction is anticipated to begin following financing approvals. 

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WRIGHT CITY, MO. — Dwight Capital has provided a $36 million HUD 223(f) loan for the refinancing of Vista on the Park, a 234-unit apartment community in Wright City, about 50 miles west of downtown St. Louis. Jonathan Pomper of Dwight originated the financing on behalf of the borrower, Pollard Properties. The loan features a 35-year term.

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TROTWOOD, OHIO — CBRE has arranged the $18 million sale of a 380,000-square-foot distribution facility located at 1 Modern Way in Trotwood, a suburb of Dayton. Viking Partners purchased the property from Stratacache Inc. CBRE’s Will Roberts, Steve Timmel and Doug Whitten represented the seller. The facility is located just south of Dayton International Airport, offering immediate access to I-75 and I-70. Built in 2008, the development features 12,000 square feet of office space, clear heights ranging from 28 to 30 feet, 32 dock doors, four drive-in doors and rail service via CSX with an interior spur.

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WOODRIDGE, ILL. — Lee & Associates of Illinois has negotiated a 100,800-square-foot, full-building industrial lease at 1215 101st St. in Woodridge. Jeff Galante and Jeff Janda of Lee & Associates represented the owner, Rediehs & Rediehs LLC. Manufacturing company Secure Source America LLC leased the property.

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CHICAGO — Greenstone Partners has brokered the $7.5 million sale of a property with 18 luxury apartment units and one ground-floor retail space in Chicago’s Wicker Park neighborhood. Located at 1509 N. Western Ave. and built in 2018, the asset features a rooftop deck and 18 indoor garage parking spaces. At the time of sale, the property was fully occupied. Jordan Multack of Greenstone represented both the buyer and seller.  

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CHICAGO — Law firm Sidley Austin LLP has unveiled plans to relocate its Chicago office to 725 Randolph, a new office tower by Related Midwest in the city’s Fulton Market neighborhood. Sidley will serve as the anchor tenant of the 45-story, 1 million-square-foot property at 725 W. Randolph St. Occupancy is slated for late 2030. Todd Lippman led the CBRE team that represented Sidley. The lease square footage was not disclosed, but several media outlets report it to around 500,000 square feet. Sidley currently leases about 544,000 square feet in the 40-story tower at 1 S. Dearborn St. in Chicago’s Loop through 2030. Designed by Kohn Pedersen Fox, 725 Randolph will offer column-free floorplates, unobstructed views of the cityscape, a range of amenities and nearby dining options. Signature amenities will include private terraces offering an outdoor work setting, a destination restaurant and an outdoor sundeck. Related Midwest still needs to complete project financing and receive city council approval, according to local media reports. In its announcement, Sidley says Chicago’s Fulton Market has emerged as a destination for business, innovation and talent and is one of the nation’s fastest growing mixed-use districts. “Chicago has been central to Sidley’s history for more …

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HOUSTON — Local owner-operator MetroNational has purchased the 244-room Moran Hotel within the 47-acre CITYCENTRE mixed-use development in West Houston. The hotel, which recently underwent a renovation, offers accommodations for extended stays, as well as a pool, fitness center, 15,750 square feet of meeting and event space and multiple onsite food-and-beverage establishments. Colby Mueck, Ryan West, Greyson Fewin and Robby Westerfield of JLL represented the seller, Midway, in the transaction. The sales price was not disclosed.

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