MIDLAND — Dallas-based Annandale Real Estate has purchased a 29,000-square-foot retail property formerly occupied by Circuit City, located at 4110 W. Loop 250 in Midland. The facility has been vacant for more than 2 years. Parker Carroll of Coldwell Banker's Lubbock office represented the buyer in the transaction. The seller, a bank, was represented by Lynn Cook of Odessa-based The Havens Group.
LITTLE ROCK, ARK., AND FREDERICKSBURG, VA. — Memphis, Tenn.-based MAA has purchased two multifamily properties for $67.5 million. In Little Rock, the firm bought the 248-unit Palisades at Chenal Valley, located at 1501 Rahling Rd. in Little Rock within the master-planned Chenal Valley development. The seller was undisclosed. The company also acquired the 232-unit River's Walk at Celebrate Virginia, located at 2281 Carl D Silver Pkwy. in Fredericksburg within the mixed-use Celebrate Virginia planned unit development. The property is formerly known as The Haven at Celebrate Virginia. Drew White, Mike Marshall and Ryan Ogden of ARA's Washington, D.C., office represented ARA, the seller, in the River's Walk transaction.
GREENVILLE, S.C., AND LAKE MARY, FLA. — Bell Partners has purchased two apartment complexes from an undisclosed seller for $54.42 million. Bell acquired the 224-unit Vinings at Brookfield Apartments, located at 815 E. Butler Rd. in Greenville, for $20.3 million. The property will be renamed Bell Brookfield. Additionally, the company purchased the 310-unit Bentley Park at Timacuan, located at 715 Camarague Pl. in Lake Mary, for $34.12 million. The property will be renamed Bell Timacuan.
WASHINGTON, D.C. — Liberty Property Trust has acquired a 146,472-square-foot office building, located at 1100 17th St. NW in Washington, D.C., from Glenborough LLC for $50 million. The 12-store property is currently 82 percent leased. The company plans to redevelop the property into a Class A building.
ALTAMONTE SPRINGS, FLA. — The 150,000-square-foot Adventist Health Systems corporate headquarters building, located at 900 Hope Wy. in Altamonte Springs, has opened. Little was the architect for the project, Brasfield & Gorrie was the contractor, Crescent Resources was the development manager, Parsons was the project consultant and Tri-City Electrical Contractors was the electrical contractor.
CHARLOTTE, N.C. — NorthMarq Capital has arranged $7.8 million in first mortgage refinancing for the 358-unit Sailboat Bay Apartments, located at 5417 Albemarle Rd. in Charlotte. Kevin Jenkins of NorthMarq's Charlotte office secured the 10-year loan with a 30-year amortization schedule through Freddie Mac.
CHICAGO — Sperry Van Ness has arranged the $3 million sale of 2100-14 S. Indiana, a multifamily property in Chicago. The 54,000-square-foot building was a failed condominium conversion that had been in foreclosure since 2008. The undisclosed buyer plans to convert the property into an apartment building, with retail on the first floor. Jeff Baasch of Sperry Van Ness represented both the buyer and undisclosed bank in the transaction.
PORT HURON, MICH. — Mid-America Real Estate Corp. has arranged the $3.96 million sale of a 15,120-square-foot, freestanding Walgreens in Port Huron. Bill Wright and Ben Wineman of Mid-America Real Estate Corp., along with Daniel Stern of Mid-America Real Estate Michigan Inc. represented the seller, Beachwood, Ohio-based DDR. The buyer was a private Michigan-based company headed by an investor in China.
CHICAGO — A Chicago-based investment company has purchased a retail building located at 6440 W. 95th St. in Chicago for an undisclosed amount. The property is leased to Party City, a party supplies store, which has occupied the building since 1996. Chad Firsel of Quantum Real Estate Advisors Inc. represented the buyer and seller in the transaction.
NEW YORK CITY — In a joint venture, Kalikow Group and Waterbridge Capital have acquired a 30-unit, three building apartment portfolio at 113-117 Elizabeth St. in Little Italy, for $12.6 million. David Kessler represented Waterbridge internally and Aaron Siegel represented Kalikow internally in the deal. The sellers were 113-117 Realty LLC and Elizabeth Blue LLC. The property, which consists of three-bedroom units, will be managed by Kaled Management.