Property Type

Foresite Realty Arranges Sale of Chesapeake Mill Apartments in Columbus

by Danielle Everson December 1, 2014

COLUMBUS — Foresite Realty Partners, through its affiliate Foresite Realty OH LLC, has arranged the sale of Chesapeake Mill Apartments in Columbus for an undisclosed sales price. The apartment property is situated on nearly 15 acres and includes 260 units. The community has a mix of one-, two- and three-bedroom units across 31 buildings and was 92 percent occupied at the time of sale. Jamie Hadac, Bryan Nickow and Jo Lease of Foresite Realty OH represented the undisclosed seller. An Ohio-based investor purchased the property.

December 1, 2014

Midwest Retail Wisconsin

Mid-America Real Estate Arranges Sale of Shopping Center in Milwaukee

by Danielle Everson December 1, 2014

MILWAUKEE — Mid-America Real Estate Corp. has brokered the sale of Point Loomis Shopping Center in Milwaukee. Cincinnati-based Phillips Edison purchased the 160,533-square-foot shopping center for an undisclosed sales price. Point Loomis Shopping Center is located at the southwest corner of 27th St. and Loomis Road. Tenants at the property include Kohl’s, Pick ‘n Save and Chase Bank. Ben Wineman and Joe Girardi of Mid-America Real Estate Corp. along with Dan Rosenfeld of Mid-America Real Estate – Wisconsin LLC represented the buyer, Phillips Edison.

December 1, 2014

California Office Western

Marcus & Millichap Opens Ventura Office

by Nellie Day December 1, 2014

VENTURA, CALIF. – Marcus & Millichap has opened an outpost in Ventura. This is the commercial real estate investment services firm’s eighth sales office in Southern California. The office will be overseen by Adam Christofferson, first vice president and regional manager, and James Markel, sales manager. They will be joined by Gary Cohen as director of the firm’s National Office and Industrial Properties Group (NOIPG), along with Brian Johnson, senior associate of the National Multi Housing Group (NMHG). Parker Shaw, an associate with the NMHG, and James DeBuiser, an agent candidate with the NOIPG, will round out the new office. The Ventura office is located at 1000 Town Center Drive.

December 1, 2014

Multifamily Washington Western

Kennedy Wilson Buys Bella Sonoma Near Tacoma for $46.7M

by Nellie Day December 1, 2014

TACOMA, WASH. – Kennedy Wilson has acquired the 280-unit Bella Sonoma apartment complex in the Tacoma suburb of Fife for $46.7 million. The luxury residential community is located at 2301 62nd Ave E. Bella Sonoma was built in two phases in 2004 and 2006. About 35 percent of the community’s units are townhomes with attached garages. The community is situated near the Port of Tacoma and a Sound Transit stop which, connects to Seattle and Tacoma. Kennedy Wilson has purchased 2,185 units in the Pacific Northwest this year alone, bringing its Pacific Northwest multifamily portfolio to a total of 5,216 units. It owns a total of 20,719 multifamily units worldwide. The firm invested $11.1 million of equity into the acquisition. It also secured $37.3 million of new debt through Fannie Mae. That 10-year loan features a fixed interest rate of 3.59 percent and five years interest-only. The seller was not named.

December 1, 2014

Office Washington Western

Eagle Home Mortgage Leases Space at Broadway Building in Vancouver

by Nellie Day December 1, 2014

VANCOUVER, WASH. – Eagle Home Mortgage has leased 8,340 square feet at the Broadway Building in Vancouver. The Class A building is located at 805 Broadway Building. Eagle Home Mortgage is a subsidiary of Universal American Mortgage Company, which is a division of Lennar Corporation. The company should occupy the building by Jan. 1. Eagle Home Mortgage was represented by Eric Turner of Cresa. The landlord, RS Holdings LLC, was represented by Doug Bartocci and Tamara Fuller of NAI Norris, Beggs & Simpson Associate.

December 1, 2014

California Industrial Western

Anaheim Industrial Building Sells for $2.5M

by Nellie Day December 1, 2014

ANAHEIM, CALIF. – A 2,250-square-foot industrial building in Anaheim has sold to an unnamed buyer for $2.5 million. The building is located at 145 W. Santa Ana Street. EmilAmerica is the building’s sole tenant. Chris Migliori of DAUM’s Orange County office represented both parties in this transaction.

December 1, 2014

Arizona Retail Western

Kohl’s Department Store at The Shops at Glassford Hill Marketplace Sells for $2.7M

by Nellie Day December 1, 2014

PRESCOTT VALLEY, ARIZ. – An 8,639-square-foot Kohl’s department store at The Shops at Glassford Hill Marketplace in Prescott Valley has sold to Zynda Family Trust for $2.7 million. The property is located at 3264 N. Glassford Hill Road. The fully leased shopping center contains five tenants that hold triple-net leases. The trust was represented by Rob Walter of Century 21 Arizona West. The seller, Prescott Valley Signature Entertainment LLC, was represented by Joseph Compagno of CBRE’s Phoenix office.

December 1, 2014

Florida Multifamily Southeast

Wood Partners Breaks Ground on Apartment Community in Metro Tampa

by John Nelson December 1, 2014

LAND O’ LAKES, FLA. — Wood Partners has broken ground on Alta Terra Bella, a 19-acre, 311-unit apartment community in Land O’ Lakes, a suburb of Tampa. The developer expects to complete the garden-style property in May 2016 and begin pre-leasing in September 2015. Wood Residential Services, a division of Wood Partners, will manage the property. Alta Terra Bella will feature an 8,939-square-foot clubhouse with a community room, fitness center, kids’ playroom, Wi-Fi café, summer kitchen and swimming pool. The design team includes civil engineer Surak Engineering, landscape architect Libra Design Group, general contractor Wood Florida Builders and architect Charlan Brock & Associates. PNC Bank was the seller for the land deal, which was brokered by Bruce Erhardt of Cushman & Wakefield. NXT Capital and EIG Euroinvestor are the equity partners on the project, and Synovus Bank is providing construction financing.

December 1, 2014

Multifamily South Carolina Southeast

MHA Brokers Sale of Two Apartment Communities in the Carolinas Totaling $20.2M

by John Nelson December 1, 2014

LITTLE RIVER, S.C. AND WINSTON, SALEM, N.C. — Multi Housing Advisors (MHA) has brokered the sale of two apartment communities in North and South Carolina totaling $20.2 million. The 168-unit Summer Chase in Little River sold for $11.1 million. Hudson Capital Investments LLC and Apex One purchased the community from Hemrick Properties LLC. The 168-unit Hawk Ridge in Winston-Salem sold for $9.1 million. Peak Capital purchased Hawk Ridge from Spyglass Capital Partners. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions.

December 1, 2014

Hospitality Kentucky Southeast

First Hospitality, City Properties Open Hilton Garden Inn in Louisville

by John Nelson December 1, 2014

LOUISVILLE, KY. — First Hospitality Group Inc. and City Properties Group LLC have opened the 162-room Hilton Garden Inn Louisville Downtown. The seven-story, 111,000-square-foot hotel is located at 350 W. Chestnut St. in downtown Louisville’s Clay Commons District. The hotel features a fitness center and a rooftop restaurant/full-service bar known as 8UP. First Hospitality and City Properties co-developed the hotel.

December 1, 2014

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