FINDLAY, OHIO — Mascia Development LLC has purchased Findlay Marketplace, a 30,100-square-foot retail center at 2023 Tiffin Ave. in Findlay. The shopping center is more than 90 percent occupied with tenants such as Armed Forces Career Center, AT&T, Penn Station Subs and Pet Supplies Plus. Mascia Development raised more than $1.5 million from crowdfunding, using the recently passed Jumpstart Our Business Startups (JOBS) Act regulations, for the purchase. The JOBS Act allows companies to raise capital more quickly and cost efficiently, according to Mark Mascia of president and CEO Mascia Development, who was involved in the transaction.
MINNETONKA, MINN. — NorthMarq Capital’s Minneapolis office has arranged $10.7 million in acquisition financing for the Williston Business Center, a 354,730-square-foot office property in Minnetonka. Patrick Minea and Dan Trebil of NorthMarq arranged financing for the undisclosed borrower through the firm’s correspondent relationship with a life insurance company.
CUDAHY, WIS. — The Dickman Co. has arranged the lease of a 10,300-square-foot industrial/office space located at 5801 S. Pennsylvania Ave. in Cudahy. Samuel D. Dickman, Samuel M. Dickman Jr. and Anthony Huenerbein of The Dickman Co. represented the landlord, Hansen Storage Company LLC. Tony Haning of Jones Lang LaSalle represented the tenant, KONE Inc.
OKLAHOMA CITY — The RADCO Cos. has acquired a three-property multifamily portfolio in Oklahoma City for $38.5 million with plans to invest more than $7.6 million to improve the properties. Arbor Lake, Deer Creek and Lincoln Greens contain a combined 714 units and are located in the north-central Oklahoma City market near Lake Hefner. The Class B properties average 94 percent occupancy and were built between 1984 and 1986. RADCO financed the purchase with a mixture of bridge debt and private equity. Arbor Lake is a townhome community originally built as condominiums. It consists of one- and two-bedroom units. Deer Creek consists of 104 units with either one or two bedrooms. Lincoln Greens is a 458-unit complex with one- and two-bedroom layouts.
SAN ANTONIO — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of Castle Hills Townhomes, a 149-unit, townhome-style apartment complex in San Antonio. The property was built in 1998 on eight acres and is located one block east of Northwest Military Highway. The complex is near the South Texas Medical Center and the United Services Automobile Association’s headquarters. Will Balthrope and Drew Kile of IPA represented the seller, Sendera Investment Group LLC of Austin. Hayden Properties, of Oregon, is the buyer. The previous owner completed an exterior renovation and the interiors of 63 percent of the apartments have been upgraded. Castle Hills Townhomes includes one-, two- and three-bedroom floorplans with an average unit size of 1,000 square feet.
AUSTIN — Transwestern has brokered the sale of Park Central to an investment partnership headed by Vista Equities Group of Houston. Park Central is a 114,091-square-foot office building located in Austin’s north submarket near the intersection of I-35 and Parmer Lane. The three-story building was 74 percent leased to six tenants at the time of sale. Hale Umstattd and Leah Gallagher of Transwestern represented the seller. The property was built in 2008. GE Capital Corp. provided financing for the acquisition, which Tyler Ford of HFF’s Houston office arranged.
DALLAS — CBRE Capital Markets’ multifamily team has brokered the sale of The Villas on Fair Oaks on behalf of California-based CCC&R Investment Group. Vizao TTH Partners II LP purchased the apartment complex. Chris Deuillet with CBRE represented the seller. The Villas on Fair Oaks will be rebranded as Valenceo @ Midtown and is located at 7222 Fair Oaks Ave., in the Vickery Meadow area of Midtown Dallas. The property includes 284 apartment units and is 48 percent occupied. Vizao plans to make renovations and improvements at the property.
CHARLOTTE, N.C. — A joint venture between Childress Klein Properties and a pension fund advised by CBRE Global Investors has sold RiverGate Shopping Center in Charlotte. The 236,579-square-foot property is located in southwest Charlotte’s Steele Creek submarket adjacent to a Super Target and Home Depot. Childress Klein constructed RiverGate in 2006-2007. The shopping center was 98 percent leased at the time of sale to tenants such as Marshalls, PetSmart, Old Navy, Best Buy, Office Max, Starbucks Coffee, Bath & Body Works, Rack Room, Dress Barn, Verizon Wireless, Mattress Firm and Massage Envy. Mike Burkard and Steve Shields of CBRE represented the joint venture in the transaction. The undisclosed buyer has retained Childress Klein to manage the property.
RALEIGH AND DURHAM, N.C. — Berkshire Group has acquired two Class A multifamily communities from Crescent Communities in the Raleigh-Durham area: Crescent Cameron Village in Raleigh and Crescent Ninth Street in Durham. Berkshire purchased the assets for an undisclosed price. Berkshire Communities, the property management division of Berkshire Group, will manage both properties. Cameron Village is a 282-unit community completed in 2014 that features a clubroom, business center, fitness center, pool and outdoor common spaces with a grilling area and fire pit. The 303-unit Ninth Street was also completed in 2014 and includes a fitness center, pool, business center with conference rooms, and outdoor common spaces with grilling areas and a dog park.
MIAMI GARDENS, FLA. — Wal-Mart Stores Inc. has opened a new Walmart Neighborhood Market located at 3791 N.W. 167th St. in Miami Gardens. The new store is expected to employ roughly 95 people. The 41,000-square-foot location will feature groceries, health and beauty aids, a pharmacy, pet products and cleaning supplies.