Property Type

Kidder Mathews Arranges $42.6M Sale of Metro on First Apartments in Seattle

by Amy Works February 21, 2025

SEATTLE — Kidder Mathews has arranged the $42.6 million sale of Metro on First, a multifamily property in Seattle’s Queen Anne neighborhood. Dylan Simon, Jerrid Anderson and JD Fuller of Kidder Mathews’ Simon | Anderson Multifamily team represented the seller, a large institutional owner, and sourced the undisclosed buyer in the deal. Located at 215 First Ave. W., Metro on First offers 106 studio, one- and two-bedroom units. Originally built in 2001, the 72,194-square-foot property has undergone substantial interior renovations in recent years.

February 21, 2025

Loans Multifamily Nevada Student Housing Western

Northmarq Arranges $78.5M Refinancing for 773-Bed Student Housing Community in Reno, Nevada

by Amy Works February 21, 2025

RENO, NEV. — Northmarq has arranged a $78.5 million refinancing for The Dean Reno, a 773-bed student housing property located near the University of Nevada, Reno. Built in 2023, the community offers fully furnished units alongside shared amenities including a cyber lounge, fitness center, yoga studio and grilling stations. Justin Glasgow of Northmarq secured the financing through Heitman on behalf of the borrowers, GMH Communities and CRG. Terms of the financing were not released.

February 21, 2025

Georgia Loans Multifamily Southeast

AEW Provides $75M Loan to Refinance High-Rise Multifamily Complex in Midtown Atlanta

by John Nelson February 21, 2025

ATLANTA — AEW Capital Management has provided a $75 million loan to refinance the construction loan for The Hadley, a 300-unit, high-rise multifamily complex located in Midtown Atlanta. The borrower was not disclosed, but a joint venture between StreetLights Residential and PGIM Real Estate completed the project in 2023. Situated at 770 Juniper St. NE, The Hadley features studios, one-, two- and three bedrooms ranging from 534 square feet to 1,716 square feet, according to Apartments.com. Amenities at the property include a fitness center, private resident bar, onsite coffee lounge and coworking space, dog park and spa, gated parking garage and a rooftop swimming pool with cabanas. The property was nearly fully occupied at the time of financing.

February 21, 2025

Acquisitions Kentucky Southeast Student Housing

GMH Communities Acquires 533-Bed Student Housing Property Near University of Kentucky

by John Nelson February 21, 2025

LEXINGTON, KY. — GMH Communities has acquired The Stretch, a 533-bed student housing community located near the University of Kentucky campus in Lexington. A joint venture between Campus Advantage and Tramview Capital Management sold the property for an undisclosed price. Teddy Leatherman, Scott Clifton, Kevin Kazlow and Jack Goldberger of JLL represented the seller in the transaction. Built in 2009 at 1051 Red Mile Road, the community offers a mix of two-, three- and four-bedroom units. Shared amenities include a clubhouse; pool and hot tub; fitness center; basketball, pickleball and volleyball courts; study rooms; a tanning salon; and outdoor grilling areas. The property was 96 percent leased at the time of sale.

February 21, 2025

Development Florida Industrial Southeast

Altman Logistics, PCCP Begin Vertical Construction of 200,000 SF Industrial Facility in Delray Beach, Florida

by John Nelson February 21, 2025

DELRAY BEACH, FLA. — A joint venture between Altman Logistics Properties and PCCP has begun vertical construction of the first phase of Apex Logistics Park at Delray, an approximately 200,000-square-foot, Class A logistics building in Delray Beach. The first phase of the development is slated for completion in the second quarter, with an additional 472,000 square feet planned for a total of three industrial buildings. Spanning 40 acres, Apex Logistics Park is expected to include 36-foot ceiling heights, 215 parking spaces, 45 dock doors and direct access and frontage to US Highway 441. Additional sustainable elements of the property will feature R-19 roof insulation and solar-ready roofing, electric vehicle charging stations, indoor air quality enhancements, interior LED lighting and advanced exterior lighting control systems. Christopher Thomson and Matthew McAllister of Cushman & Wakefield will lead leasing efforts for the property. Altman Logistics Properties has several other projects underway across Florida, including plans to break ground on an approximately 202,000-square-foot industrial development in Lakeland and an estimated 182,000-square-foot warehouse logistics facility in Davie.

February 21, 2025

Acquisitions Illinois Midwest Multifamily Seniors Housing

Tutera Acquires 75-Unit Seniors Housing Community in Suburban Chicago, Plans Reopening

by Kristin Harlow February 21, 2025

MATTESON, ILL. — Tutera Senior Living & Health Care has acquired a 75-unit seniors housing community in Matteson, about 30 miles south of Chicago, for an undisclosed price. Built in 2021 for $21 million, the property formerly operated under the name Alexi Senior Living before closing in 2022. Tutera plans to make improvements to the community and reopen it as Ridgeland Senior Living this spring. Situated on 5.5 acres, the 81,589-square-foot development features 55 assisted living units and 20 memory care residences. Amenities at the property will include a restaurant-style dining room; poker area and art studio; barbershop, beauty salon and spa; therapy room and gym; movie theater, library and chapel; bistro; courtyard with walking paths; and common areas. The acquisition brings Tutera’s portfolio to 77 communities operated across 10 states.

February 21, 2025

Acquisitions Indiana Midwest Retail

Marcus & Millichap Arranges $5.4M Sale of Three Retail Centers in Indiana

by Kristin Harlow February 21, 2025

INDIANAPOLIS, ELKHART AND KENDALLVILLE, IND. — Marcus & Millichap has arranged the sale of three retail centers in Indiana for a combined $5.4 million. The properties include Northfield Plaza in Elkhart, Kendallville Plaza in Kendallville and Michigan Road Shops in Indianapolis. Jordan Klink and Mike Banwell of Marcus & Millichap represented the undisclosed seller and implemented a national marketing and auction campaign to attract investor interest.

February 21, 2025

Acquisitions Alabama Multifamily Southeast

Matthews Real Estate Facilitates Sale of Two Multifamily Properties in Alabama

by John Nelson February 21, 2025

MUSCLE SHOALS AND TUSCUMBIA, ALA. — Matthews Real Estate Investment Services has facilitated the sale of two multifamily complexes located in Tuscumbia and Muscle Shoals, approximately just one mile apart. Breckenridge Apartments in Tuscumbia features 120 units with one-, two- and three-bedroom options ranging from 890 square feet to 1,200 square feet. Harvest Hills in Muscle Shoals totals 42 units with one- and two-bedrooms up to 1,280 square feet. Richard Lindsey of Matthews Real Estate represented the seller in the disposition of the properties to two separate buyers. The purchase price, seller and buyers were not disclosed. This transaction marks the largest multifamily sale in the metro Florence, Ala., area in recent years.

February 21, 2025

Development Illinois Midwest Retail

Urban Innovations Completes Retail Build-Out for Baggu in Chicago’s Bucktown

by Kristin Harlow February 21, 2025

CHICAGO — Urban Innovations has completed a retail build-out for Baggu at 1639 N. Damen Ave. in Chicago’s Bucktown neighborhood. Urban Innovations gutted the 1,960-square-foot space and installed a new storage room, restroom and back-of-house office space for staff. The main store has new millwork shelving, a custom-built checkout desk, penny tile flooring, track lighting and merchandise paneling to display bags and other items for sale. The project team also completed new exterior signage. Haddock Studio designed the space for the tenant, and Jenel Real Estate owns the building. Baggu gained popularity on the internet for its unique reusable bags.

February 21, 2025

Acquisitions Illinois Industrial Midwest

Entre Commercial Realty Brokers Sale of 17,200 SF Industrial Building in Crystal Lake, Illinois

by Kristin Harlow February 21, 2025

CRYSTAL LAKE, ILL. — Entre Commercial Realty has brokered the sale of a 17,200-square-foot industrial building located at 110 East St. in the Chicago suburb of Crystal Lake. The sales price was undisclosed. The freestanding property features a clear height of 18 feet, nine drive-in doors, ample parking and the potential for outside storage. The facility previously served as the headquarters of Fishstone Concrete Supply, a concrete product supplier. The buyer, RPM Building Solutions, plans to establish its new headquarters at the location. Elisabeth Lazzara, Mike DeSerto and Cory Kay of Entre were the sole brokers in the transaction.

February 21, 2025

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