Thursday, July 30, 2026
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MidwestMultifamily

BLOCK FUNDS BUYS 72-UNIT CLASS A TOWNHOME COMMUNITY

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OGDEN, KAN. — Block Funds, the investment division of Block Real Estate Services, has acquired a 72-unit Class A townhome community in Ogden, located about 10 miles south of Manhattan. The purchase price was undisclosed. Constructed in 2007, River Trail Townhomes is part of a larger development plan for commercial and residential development at the K-18/K-114 interchange. River Trail Townhomes is located at the eastern entrance to Fort Riley. Block Multifamily Group will manage the River Trails.

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MidwestOffice

CBRE’S KANSAS CITY OFFICE DECREASES SQUARE FOOTAGE

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KANSAS CITY, MO. — CBRE has moved its offices from Park Plaza at 4717 Grand Ave. to American Century Tower II at 4520 Main St. in Kansas City, decreasing its office space by 3,000 square feet. CBRE now occupies 10,000 square feet of space on the tower’s sixth floor, after previously occupying 13,000 square feet on the fifth floor of Park Plaza for 10 years. The facility will house more than 50 CBRE employees.

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Mixed-UseNortheast

PARTNERSHIP SELLS MIXED-USE CENTER IN PITTSBURGH FOR $135M

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PITTSBURGH — Forest City Enterprises Inc. and Jos. L. Muscarelle Inc. have sold the Liberty Center complex in Pittsburgh to a subsidiary of Starwood Capital Group for $135 million. Liberty Center includes the 27-story Federated Investors office tower, the 616-room Westin Convention Center Hotel, a 25,000-square-foot shopping center and underground parking for 479 cars. An enclosed pedestrian bridge connects the hotel with the adjacent David L. Lawrence Convention Center. Cleveland, Ohio-based Forest City and Maywood, N.J.-based and Jos. L. Muscarelle had a 50/50 partnership in the property. The hotel will continue to operate as a Westin under a long-term management agreement with Starwood Hotels, which currently manages the hotel and is not affiliated with Starwood Capital. CBRE will manage the office building.

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MultifamilyNortheast

5,530 SF DEVELOPMENT SITE SELLS FOR $23.5M IN NYC

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NEW YORK CITY — Art collector and real estate developer Michael Shvo, president and CEO of SHVO, and his partner Victor Homes, have closed on the purchase of a 5,530-square-foot residential development site in Manhattan for $23.5 million. The price per buildable square foot was $850, the highest amount ever paid for a residential development site in New York City, according to Shvo. The site, 239 Tenth Avenue, is located in Manhattan’s West Chelsea arts district and includes 78 feet of frontage on Tenth Avenue and an additional 70 feet on West 24th Street. Shvo plans to develop a luxury residential property on the parcel.

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MultifamilyNortheast

LOVE FUNDING SECURES $18.7M LOAN FOR BELLA VISTA

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UNION CITY, N.J. — Love Funding has arranged an $18.7 million loan for the refinancing of Bella Vista Apartments, a 231-unit apartment building in Union City. Bella Vista Apartments is an age-restricted development for residents 62 and older. Orlando Partners LLC owns and operates the property, which is managed by Goldberg Realty Associates. The refinancing will help fund repairs, including installing new energy-efficient windows to save on energy costs. The 35-year loan features a fixed interest rate of approximately 3 percent. Laura Saull-Smith, senior director at Love Funding, secured the loan through the HUD’s Section 223(f) loan insurance program.

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MultifamilyNortheast

103-UNIT APARTMENT BUILDING CHANGES HANDS FOR $16.2M

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NEW YORK CITY — Local investor 1-29 Bogardus Place LLC has purchased a seven-story, 103-unit multifamily building in Upper Manhattan for $16.2 million. The building, located at 1 Bogardus Place, was 95 percent occupied at the time of sale. R. Stuart Gross, Max Bryce and Scott Ellard of Eastern Consolidated represented the seller, Bogardus Property Owner LLC, and procured the buyer in the transaction. The property includes units ranging from 589-square-foot studios to 1,405-square-foot three-bedrooms units. Attorney Ilan Lerman of Winston & Strawn LLP represented the seller. Attorney Karen Scanna of Stroock & Stroock & Lavan LLP represented the buyer.

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Mixed-UseTexas

PRESTON HOLLOW MIXED-USE IN DALLAS UNDERWAY

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DALLAS — Work is set to begin on Kroenke Holdings’ Preston Hollow Village, a new mixed-use development that will fill part of the 42-acre vacant lot at Walnut Hill and North Central Expressway in the North Dallas neighborhood. The first phase of the project includes a 14,000-square-foot Trader Joe’s, plus an additional 61,000 square feet of retail space and 46,000 square feet of office space. Kroenke, which acquired the lot in 2010, is partnering with Provident Realty Advisors Inc.

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RetailTexas

FRESH MARKET IS NEW ANCHOR AT LANTERN LANE

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HOUSTON — A new anchor store, The Fresh Market, has opened at Lantern Lane shopping center, located at 12500 Memorial Drive in Houston’s affluent Memorial neighborhood. The specialty grocer replaces former anchor Rice Epicurean, also a specialty grocery store. The center, which totals 79,501 square feet and is 100 percent leased, is owned by AmREIT Monthly Income & Growth Fund III Ltd., an advised fund of AmREIT Inc.

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OfficeTexas

LONE STAR FUNDS MAKES $45M PLAY IN NORTH CAROLINA

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DALLAS — A fund managed by Dallas-based Lone Star Funds has acquired 11 properties in Raleigh and Morrisville, N.C. for $45 million. The assets include 154,581 square feet of flex office space at Raleigh’s Spring Forest Business Center and 478,356 square feet at Morrisville’s Eastridge at Perimeter Park. Seller U.S. Bank purchased the properties at auction in January for $49 million.

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MultifamilyWestern

THE WESTRIDGES APARTMENT COMPLEX IN TACOMA SELLS FOR $64.5M

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TACOMA, WASH. — The Westridges, a 714-unit apartment community just outside downtown Tacoma, has sold to JRK Investors for $64.5 million. This 62-building property is the largest apartment community in Pierce County and the fourth largest in the Puget Sound region. The 37.1-acre site is located at 2602 Westridge Ave. West. The community was completed in 1991. The sale was executed by David Young, Corey Marx and Seth Heikkila of Jones Lang LaSalle’s Capital Markets. The seller was not named.

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