CAMAS, WASH. — Forging Union LLC has acquired a multi-tenant retail strip center in Camas from Hurley Development for $18.7 million. The 35,547-square-foot property is fully occupied by 15 tenants, including businesses focused on financial services, health and fitness, and food and beverage tenants with triple-net leases. The property is situated on 2.5 acres at 301 N.E. 192nd Ave. Wes Bochner of CBRE represented the buyer in the deal.
BEAVERTON, ORE. — Gantry has secured a $12.4 million structured financing package aligning a bridge loan execution and preferred equity for the purchase of an industrial facility in Beaverton. Located at 10025 S.W. Allen Blvd., the 50,400-square-foot Class B property is fully lease to two tenants. Situated on 6.9 acres, the property includes 2 acres of fenced outdoor storage capacity. Mike Wood and Tim Brown of Gantry represented the sponsor, a private real estate investor. The structured equity and debt package was secured from one of Gantry’s correspondent life company lenders. The financing includes a five-year loan with upfront interest-only transitioning to a 25-year amortization schedule. Gantry will service the loan on behalf of its correspondent.
ORLANDO, FLA. — Crescent Communities has sold NOVEL Nona, a 260-unit apartment community in Orlando’s Lake Nona neighborhood, to an undisclosed, private real estate management company. The Charlotte-based developer broke ground on the property in 2021. NOVEL Nona features a fitness center with a dedicated studio for yoga and spin classes, coworking spaces, a saltwater pool with cabanas, bike storage, walking trails, a conservation area, top-floor lounge with TVs and a craft cocktail bar, two courtyards, firepits and grills. Crescent Communities recently announced the appointment of Greg Minder to lead strategy, development and execution across the company’s multifamily presence in Tampa, Orlando and Jacksonville. The developer currently has several properties in the construction stages in those markets.
NEWNAN, GA. — Thompson Thrift plans to develop Wrenly, a 214-unit apartment community in Newnan, a city approximately 40 miles southwest of downtown Atlanta. The Indiana-based developer expects to welcome residents by April 2027, with full completion slated for early 2028. The 29-acre community will comprise one-, two- and three-bedroom apartments within six residential buildings. Amenities will include a 24-hour fitness center, a pool with a waterfall feature, firepit with seating areas, grills, pickleball court, dog park and a business center.
NASHVILLE, TENN. — Boyle Investment Co. has acquired Woodmont Centre, a two-building office park located at 102 and 104 Woodmont Blvd. in Nashville. The property is situated at near I-440 on the outskirts of the city’s Belle Meade neighborhood. The complex comprises a nine-story office building and a five-story office building connected by a shared lobby, along with a multi-level parking garage accommodating approximately 500 vehicles. The undisclosed seller began capital improvements to Woodmont Centre that Boyle Investment plans to complete. The sales price was not disclosed.
VICTORVILLE, CALIF. — Pacific Coast Commercial has arranged the purchase of a multi-tenant retail property located at 14190 Bear Valley Road in Victorville. The 11,618-square-foot asset traded for $6.1 million. Vince Provenzano and Michael Sikorski of Pacific Coast Commercial represented the buyer, while Rick Helmonds and Lance Mordachini of Progressive Real Estate Partners represented the seller in the transaction. Sunflower Bank provided acquisition financing for the deal.
MADISON, WIS. — Smith Gilbane, the joint venture development team comprised of Gilbane Development and Summit Smith Development, is underway on Block Three at Madison Yards. The project is the latest phase of the Madison Yards master-planned community. Smith Gilbane is redeveloping 14 acres at the southwest corner of University Avenue and Segoe Road into a walkable, mixed-use district with 500 residential units, an upscale hotel, multiple Class A office spaces, 400,000 square feet of medical/office space, a Whole Foods Market store and retail, restaurant and entertainment uses. Block Three will include 199 market-rate apartment units, 8,733 square feet of retail space and 200 temperature-controlled parking stalls. Construction began in July, and the first occupants are anticipated to move in during the spring, following construction completion in March 2027. Amenities will include a private courtyard, rooftop sky club and deck with views of Lake Mendota, coworking spaces, fitness and yoga areas, a pet spa, sauna and a three-season greenhouse. Completed components of Madison Yards include EO Madison Yards, a 273-unit apartment building; a 50,000-square-foot Whole Foods Market store; a State of Wisconsin office building; and a hub of Class A office space.
MILWAUKEE — CBRE has arranged the sale of a four-property, 358-unit multifamily portfolio in Milwaukee for $29.7 million. The portfolio includes Parkview Apartments, Lisbon Court, Hampton Gardens and Grantosa Apartments. The garden-style properties include parking, laundry facilities, community spaces and patios or balconies for most units. CBRE’s Matson Holbrook, Gretchen Richards, Sean Beuche and Patrick Gallagher represented the seller, Milwaukee-based Metropolitan Associates. Brookfield, Wis.-based Coachlight Communities LLC was the buyer.
FARIBAULT, MINN. — Marcus & Millichap has negotiated the $6.5 million sale of Pleasant View Estates, a 36-unit assisted living and memory care facility in Faribault, about 50 miles south of Minneapolis. Built in 1998, the property sits on 4.8 acres at 41 Brand Ave. The 44,300-square-foot facility includes 24 one-bedroom units and 12 two-bedroom units. Approximately 75 percent of the residents are Medicaid assisted living facility occupants. The building is connected to a vacant skilled nursing home formerly known as Pleasant Manor. Ray Giannini of Marcus & Millichap represented the seller, Monarch Healthcare Management, and procured the buyer, a regional private investor.
CHICAGO — Interra Realty has arranged the sales of two vintage multifamily properties in Chicago. An eight-unit building at 10-12 W. Chestnut St. in the Gold Coast neighborhood sold for $3.4 million, and a two-building, 12-unit property at 1754-1756 W. 21st Place in the Pilsen neighborhood traded for $3.1 million. Jeremy Morton of Interra represented the confidential buyer of the Gold Coast building, while Steven Rapoport of Chicago Real Estate Resources Inc. represented the unnamed seller. Morton and colleague Harrison Pinkus brokered the Pilsen deal on behalf of the private seller, with Denise Reynes of HomeSmart Connect LLC representing the confidential buyer. All buildings were fully occupied at the time of sale and were constructed in the late 1800s.
