NEW YORK CITY — Stellar Management and Imperium Capital have acquired a leasehold interest in 220 Fifth Ave. from a subsidiary of Dino & Sons Realty Corp. The Manhattan property is set to undergo several capital improvements, including a renovated lobby and modernized building systems. The partnership is also completing custom pre-builds for turn-key office space. There are currently six full floors available for lease of 9,000 square feet each. Kathy Anderson of Progress Capital represented both Stellar Management and Dino & Sons in the transaction. Built in 1912, 220 Fifth Avenue is located in Manhattan’s Flatiron District.
OLYMPIA, WASH. — Ventas has acquired six seniors housing communities from Koelsch Communities for $137 million and will immediately lease all the properties back to the Olympia-based operator. The communities acquired include Canterbury Park in Longview, Wash.; Cedarbrook in Fresno, Calif.; The Hampton & Ashley Inn and The Hampton at Salmon Creek both in Vancouver, Wash.; Madison House in Kirkland, Wash.; and Spring Creek Inn in Bozeman, Mont. The transaction increases the number of Ventas-owned, Koelsch-operated communities to 18. The properties span the continuum of care. Koelsch Communities operates 22 communities in seven states with eight more communities currently in development.
FORT COLLINS, COLO. — Rockies Lodging Capital has purchased two hotels in Fort Collins for an undisclosed sum. The hotels include the 113-room Residence Inn and the 112-room Courtyard located at 1127 and 1200 Oakridge Drive, respectively. The properties are situated in the center of Fort Collins’ main commercial corridor. CBRE Hotels’ Mark Darrington and Larry Kaplan represented the seller, Southwest Value Partners, in this transaction.
SAN DIEGO — Pacifica Host Hotels has sold its 118-room Best Western Plus Otay Valley in the San Diego submarket of Chula Vista to a California-based hotel ownership group. The price was not disclosed. The hotel will retain the Best Western branding. The new owner plans to renovate the hotel. Leigh-Anne Ashton, Bruce Holmes and Harry Hashim of HotelBrokerOne represented both parties. The transaction involved a 1031 exchange.
SACRAMENTO, CALIF. — A limited liability company has acquired the 60-unit Red Robin Apartments in Sacramento for $3.9 million. The community is located at 2080 Red Robin Lane. It features four studios, 26 one-bedroom units, 26 two-bedroom units and four two-bedroom townhomes. Steve Nelson and Dusty Haeling of Marcus & Millichap represented both the buyer and seller, another LLC, in this transaction.
PASADENA, CALIF. — Anda Realty Capital has purchased a 54,961-square-foot office building in Pasadena for an undisclosed sum. The seven-story building is located at 225 E. Colorado Blvd. It is situated across the street from the Paseo Colorado mixed-use development and less than two blocks from Old Town Pasadena. The property was originally built in 1912 for Citizens Savings Bank. The building’s original marble walls, wood paneling and brass finishes have been completely restored in recent years. JLL’s Tom Bohlinger and Jon Lange represented both the buyer and seller, Barker Pacific Group, in this transaction. The firm’s Brian Halpern and Alex Kane secured a bridge loan for the buyer.
SAN ANTONIO — GBT Realty Corp. recently acquired a one-acre site in San Antonio for the development of South Park Commons, a 12,600-square-foot retail center. GBT purchased the property from Target for $925,000 on Feb. 21. The site is adjacent to Target’s SW Military Drive storefront in San Antonio. Construction of the center is underway with tenants expected to open in November. South Park Commons is currently 70 percent pre-leased to national names including AT&T, Aspen Dental, Firehouse Subs and GNC. Approximately 3,600 square feet of street-facing space is still available. Nearly 103,500 people with an average household income of more than $42,000 live within five miles of South Park Commons, according to GBT, a development company based in Brentwood, Tenn. Approximately 36,700 vehicles daily pass the San Antonio site in this retail corridor.
HOUSTON — Davis Commercial Real Estate has negotiated two new leases for 9Round Fitness, a company specializing in customized and shortened workout routines. A 1,536-square-foot lease was secured at 4656 Beechnut St., and a 1,484-square-foot lease was signed at 15455 Memorial Drive. Ashley Casterlin of Davis Commercial represented 9Round in the transactions.
OKLAHOMA CITY, OKLA. — CBRE has secured an 11,043-square-foot lease on behalf of the Central Oklahoma Humane Society at an industrial property located at 5228 Classen Circle in Oklahoma City. Caitlin Mazaheri, Jason Hammock and John Lenochan of CBRE represented the tenant in the transaction. Derek James of Price Edwards & Co. represented the landlord, Classen West Properties LLC.
SAN ANTONIO — Marcus & Millichap has brokered the sale of Andrews Apartments, an 11-unit complex located at 219 Andrews St in San Antonio. The property recently underwent renovations to improve its roofing, flooring and windows. Mark Diebold of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The name and representative of the buyer were not disclosed.