BAYONNE, N.J. — Cushman & Wakefield has arranged three sales of mixed-use properties in Bayonne. In the first transaction, an undisclosed buyer purchased a three-building mixed-use property located at 462 Broadway, 464 Broadway and 15-17 Liberty Court for $1.1 million, or $90.38 per square foot. The 13,000-square-foot portfolio features four residential units and four commercial units. Fahri Ozturk and Lev Kimyagarov of Cushman & Wakefield arranged the transaction. In the second deal, Ozturk brokered the $1.6 million sale of a 16,500-square-foot mixed-use building located at 813-819 Broadway. The building features 9,000 square feet of ground-level retail and medical office space and 7,500 square feet of second-floor office space. Current tenants are Children’s Specialized Hospital and La Guardiola Pizzeria. In the third transaction, an undisclosed buyer acquired a 17,700-square-foot mixed-use asset located at 544-556 Broadway for $1.3 million. Vacant at the time of sale, the building features a ground-floor retail component and second-floor office space. Ozturk arranged the transaction. The names of the sellers were not released.
DENVER — BH Equities LLC, Pensam Residential and Wafra Capital Partners have acquired the Breakers Resort apartment community in Denver for $350 million. The community is located at 9099 E. Mississippi Ave. The Breakers is the largest physical asset in metro Denver, according to the buyers. It includes a nearly 190-acre site that spans 1,523 units among six villages, a privately owned lake and a 26,000-square-foot recreation center situated within minutes of downtown Denver and Cherry Creek. Koelbel and Co. and the Bascom Group developed the property. The new owners plan to implement a capital improvement program that will include re-purposing several individual community clubhouses, as well as improvements to the Catamaran Club, Riviera Cafe and the Marina. The Breakers’ sale is among the largest multifamily transactions in the U.S. this year, second only to a sale in Manhattan, according to Jeff Hawks of ARA Newmark, which brokered the sale. The deal will restructure ownership and allow Koelbel and Co. to maintain its involvement as a minority owner. Berkadia arranged Freddie Mac acquisition financing for the deal.
WEST HOLLYWOOD, CALIF. — SVN-Rich Investment Real Estate Partners and NAI Capital have arranged the sale of Hollyway Center, a retail property located at 8351 Santa Monica Blvd. in West Hollywood. The Levitt Family Trust sold the property for $11 million, more than $1,250 per foot. The 8,790-square-foot property consists of three retail units. Hollyway Cleaners and Earthbar are the major tenants at the property. Rob Zaharia of SVN and Tim Steuernol of NAI Capital represented the seller, while David Chasin of Pegasus Investments represented the buyer in the transaction.
SACRAMENTO, CALIF. — Colliers International has brokered the sale of Sutter Square Galleria, a two-building mixed-use property located at 2901 K St. in Midtown Sacramento. A Canadian-based private investor acquired the property for an undisclosed sum. Sutter Health, UC Davis Extension, Placer Title Co. and Safe Credit Union occupy the 62,763-square-foot property. Heath Charamuga and Scott Laeber of Colliers represented the seller, while Roop Purewal represented the buyer in the deal.
SUNNYVALLE, CALIF. — STC Ventures has purchased Sunnyvale Town Center, a 36-acre unfinished mixed-use project in Sunnyvale. STC is a joint venture between affiliates of Hunter Storm, Sares Regis Group of Northern California and institutional investors advised by J.P. Morgan Asset Management. Wells Fargo sold the property for an undisclosed price. The buyer plans to first complete the 186-unit residential component of the development and then focus on the retail portions of the project.
WEST COVINA, CALIF. — Progressive Real Estate Partners has brokered the sale of a two-story retail property located at 203 S. Azusa Ave. in West Covina. Options for Learning acquired the property from a San Diego-based private investor for $2.5 million. The buyer plans to open a preschool in the 14,700-square-foot building. Frank Vora of Progressive Real Estate Partners represented the seller in the deal.
OVERLAND PARK, KAN. — Senior Living and CA Senior Living are developing The Sheridan at Overland Park, an assisted living and memory care community in Overland Park. As part of the CityPlace mixed-use development, the community will feature 116 studio, one- and two-bedroom apartment homes, including assisted living and memory care units, ranging in size from 315 square feet to 920 square feet. The property will feature a bistro dining and gathering spot, chef-prepared meals, wellness monitoring, best-in-class memory care and 24-hour access to licensed care staff. The community is slated to open in early 2017. CA Senior Living is the senior housing investment and development division of Chicago-based CA Ventures.
BROOKFIELD, WIS. — Brookfield Corners LLC has topped off Dempsey Place and Garrison Court, two apartment buildings that are part of The Corners, a $220 million mixed-use lifestyle redevelopment project on West Bluemound Road in Brookfield. With a combined total of 244 apartment homes, the buildings are situated above 400,000 square feet of shopping and dining space. The properties offer a mix of studio, one-bedroom, two-bedroom and two-bedroom/den layouts, as well as fitness rooms, social rooms, a movie screening room and outdoor terrace with fire pit. Initial occupancy of the apartments is slated for mid-2017, and the retail portion of The Corners is scheduled to open in spring 2017. Mandel Property Services is the residential leasing and management company for The Corners.
CARBONDALE, ILL. — Foresite Realty Partners has arranged the sale of St. Germain Square, a student housing rental community in Carbondale. The four-building property features 122 units in a mix of studio, one-bedroom and two-bedroom layouts. Donald Shapiro of Foresite Realty Advisors and Kristen Keehnast of Foresite Realty Partners represented the undisclosed seller in the transaction. The name of the buyer and the acquisition price were not released.
CHICAGO — @properties Commercial has brokered the sale of a multifamily property located at 6900 N. Sheridan Road in the Rogers Park neighborhood of Chicago. A private limited liability company acquired the property for $3.1 million, or $525,000 per unit. Restored and renovated in 2013, the six-unit property was 100 percent occupied at the time of sale. The building features a mix of two-, three- and four-bedroom apartments. Kevin Rocio of @properties represented the seller, a private limited liability company, in the transaction.