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Crescent-Ridge-irving-texas
MultifamilyTexas

M&M Arranges Sale of 51-Unit Apartment Building

by Haisten Willis

IRVING, TEXAS — Marcus & Millichap has arranged the sale of Crescent Ridge, a 51-unit apartment property located in Irving. Ford Braly of the Silva multifamily team in Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, an individual California investor. Juan Cuevas and Lucas Fertitta of Marcus & Millichap’s Houston office secured the buyer, a private out-of-state investor. Crescent Ridge is located at 506 N. Rogers Road along Irving Boulevard. The property was built in 1964 on a concrete slab foundation and has wood framing with a brick veneer exterior. Units average 795 square feet. Amenities include a courtyard with barbeque grills and a picnic area, laundry facilities and an onsite leasing office.

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OklahomaRetailTexas

Sam’s Club to Open Seventh Location in Oklahoma City

by Haisten Willis

OKLAHOMA CITY, OKLA. — Sam’s Club will officially open the doors of its newest location Thursday, March 3, in Oklahoma City. Doors open at the 4101 N. May Ave. location at 8 a.m. Prior to the public grand opening, the company will host a business appreciation event for customers. Walmart founder Sam Walton opened the first Sam’s Club in 1983 in Midwest City, Okla., with the idea that small business owners deserved the same access to warehouse prices as big businesses. More than 650 Sam’s Club locations are in operation today.

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CaliforniaMultifamilySeniors HousingWestern

Blueprint Arranges $41M Sale of Keiro Seniors Housing Portfolio in Los Angeles

by Nellie Day

LOS ANGELES — Blueprint Healthcare Real Estate Advisors has arranged the sale of Keiro Senior HealthCare, a four-property, 642-unit seniors housing portfolio in Los Angeles. Pacifica Cos., a private investment firm based in San Diego, bought the portfolio from Keiro, a nonprofit owner/operator, for $41 million in an all-cash transaction. The Keiro portfolio consists of two skilled nursing facilities totaling 398 beds, a 90-bed intermediate care facility and a 154-unit independent living facility. In addition to the healthcare properties, the portfolio includes a 23,000-square-foot administrative building as well as a 6,000-square-foot auditorium and recreation center on the primary campus. The Keiro properties target the Japanese-American seniors demographic in Southern California. Pacifica will lease the two skilled nursing facilities to Aspen Healthcare. Christopher Hyldahl led the Blueprint team on the transaction.

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ColoradoRetailWestern

Kensington Sells Fairfield Commons Shopping Center in Colorado for $34.3M

by Nellie Day

LAKEWOOD, COLO. — Kensington Real Estate Group has sold Fairfield Commons, a 144,000-square-foot shopping center located in Lakewood, to an affiliate of Phillips Edison Group for $34.3 million. A newly developed Sprouts Farmer’s Market anchors the center. Other tenants include Planet Fitness, T.J. Maxx, Chili’s Bar & Grill, Black-eyed Pea, Starbucks Coffee, Rue 21, Red Wing Shoes and Citi Financial.

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CaliforniaRetailWestern

Niki Properties Sells 32,873 SF Retail Property in Culver City for $23.5M

by Nellie Day

CULVER CITY, CALIF. — Niki Properties has completed the disposition of a single-tenant, 32,873-square-foot retail building located at 5660 W. Sepulveda Blvd. in Culver City. An undisclosed buyer acquired the property for $23.5 million. Situated on 2.6 acres, the property is triple-net leased to Sprouts Farmers Market through 2025. Gleb Lvovich, Nick Foster, CJ Osbrink and Bryan Ley of HFF represented the seller in the transaction.

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CaliforniaRetailWestern

CBRE Brokers 20,682 SF Lease for Fred Segal in Playa Vista

by Nellie Day

PLAYA VISTA, CALIF. — CBRE Group has arranged a 20,682-square-foot lease for clothing retailer Fred Segal in Playa Vista. Located at 12751 W. Millennium with the Runway Playa Vista project, the new flagship store will join Whole Foods Market, Studio MDR and Yogaworks at the mixed-use development. Runaway Playa Vista includes 217,000 square feet of retail space, 33,000 square feet of office space and 420 apartments. Zachary Card of CBRE represented the landlord, while Jay Luchs of Newman Grubb Knight Frank represented the tenant in the transaction.

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14-W-Broadway-Boston-MA
LoansMassachusettsMultifamilyNortheast

CBRE/NE Secures $28.1M Loan for Condo Development in South Boston

by Amy Works

BOSTON — CBRE/New England has secured a $28.1 million loan for the the construction of a luxury condominium development in South Boston. The borrower, CPC Cornerstone Development, is developing the 49-unit property that will feature a 6,000-square-foot restaurant space. Located at 14 W. Broadway, the building will feature large floor plans, garage parking for all units, top-of-the-line finishes, a roof deck, 24-hour concierge, valet garage parking and a fitness center. The property will also feature six affordable units per Boston Redevelopment Authority Inclusionary Development Policy. John Kelly and Sam Dylag of CBRE/NE arranged financing for the borrower. Additionally, CBRE arranged $8 million in equity on behalf of the sponsor.

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Mixed-UseNew YorkNortheastOfficeRetail

Cushman & Wakefield Negotiates $17M Sale of Mixed-Use Property in Brooklyn

by Amy Works

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use property located at 1623 Kings Highway in Brooklyn’s Gravesend neighborhood. The 21,960-square-foot property sold for $17 million in an all-cash transaction. The four-story building is fully occupied by Verizon Wireless, Tiger Schulman’s and Interborough Consulting. Bob Knakal, Alex Svetlakou and Jonathan Hageman of Cushman & Wakefield represented the undisclosed seller, while Chaim Cahane of Forte Capital Management represented the undisclosed buyer in the transaction.

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