FORT WORTH, TEXAS — Green Courte Partners, a Chicago-based real estate private equity firm, has acquired a 40-acre industrial outdoor storage site in Fort Worth. The parcel is located at 5301 Wilbarger St. on the city’s southeast side. Green Courte plans to operate the site as a managed truck storage facility. The land seller was a joint venture between Timber Hill Group and Champion Realty Advisors. The sales price was not disclosed.
FORT WORTH, TEXAS — Ambiance Textiles has signed a 14,775-square-foot lease renewal in Fort Worth. The 49,130-square-foot industrial flex building at 200 N. Vacek St. is located on the northwest fringe of the downtown area and was originally constructed in 1950, according to LoopNet Inc. David Cason and Jake Neal of Holt Lunsford Commercial represented the tenant in the lease negotiations. The landlord was not disclosed.
CHARLESTON, S.C. — CBRE has secured a $120 million loan for the refinancing of Morrison Yard Residences, a 379-unit apartment community located along the Cooper River at 838 Morrison Drive in Charleston. The borrower, a joint venture between Woodfield Investments and Argosy Real Estate Partners, delivered the community last year. Nate Sittema, Kristen Reilley and Ben Hardee of CBRE arranged the loan through Northwestern Mutual Life Co. The loan was underwritten with a fixed interest rate in the low 6 percent range. Morrison Yard features a 10-story tower and a six-story mid-rise building offering one-, two- and three-bedroom apartments, as well as penthouse units. Amenities include outdoor courtyards, pool overlooking Charleston Harbor, game room and a bocce ball court, as well as 27,608 square feet of ground-level retail space. BODYROK, a Pilates fitness concept, recently signed a lease to occupy retail space at Morrison Yard Residences. The apartment community serves as the multifamily component of Morrison Yard, a mixed-use development that will also feature an office tower, Kimpton Hotel and 40,000 square feet of retail space at full build-out.
CHARLOTTE, N.C. — Alliance Residential Co. has opened Broadstone Craft, a 297-unit apartment community located at 1015 N. Alexander St. in Charlotte’s Optimist Park neighborhood. The property is situated adjacent to Birdsong Brewery and a stop on the Parkwood LYNX Blue Line. Cline Design Associates and interior designer LS3P designed the property with a 1980s aesthetic that incorporates elements of craft beer culture. The property’s public spaces include a two-tap kegerator system serving cold brew and kombucha for residents, a custom retro TV wall and beer barrel seating booths. Other amenities include a resort-style saltwater pool with two grilling stations and an exterior courtyard featuring a beer fermentation tank, as well as coworking and private focus rooms, a mailroom with 24-7 package access, bike storage, electric vehicle charging stations and a fenced pet park. Broadstone Craft offers a mix of studio, one- and two-bedroom apartments averaging 716 square feet in size. Monthly rental rates range from $1,471 to $2,866, according to the property website.
PORT CHARLOTTE, FLA. — JBM Institutional Multifamily Advisors has brokered the sale of Charlotte Commons, a 264-unit apartment community located in the Southwest Florida city of Port Charlotte. An unnamed New York-based company and Image Capital purchased the Class A property for $66.5 million. The seller, Indiana-based SC Bodner Co., developed Charlotte Commons in 2022. The property comprises 11 three-story buildings with studios, one- and two-bedroom apartments averaging 846 square feet in size. Amenities include a resort-style pool with a sun deck, grilling stations, shaded outdoor lounge area, fitness center, clubhouse with a business center, bark park, pickleball courts and 57 garages available for rent.
ATLANTA — Berkadia’s Seniors Housing & Healthcare team has arranged the sale of Brighton Gardens of Buckhead, a 112-unit seniors housing community in Atlanta’s Buckhead district. Metro Atlanta-based PruittHealth purchased the asset from Indianapolis-based Prime Care One LLC for an undisclosed price. Cody Tremper, Mike Garbers, Dave Fasano and Ross Sanders of Berkadia represented the seller in the transaction. Additionally, Jay Healy of Berkadia arranged a $13 million bridge-to-HUD loan for the acquisition of Brighton Gardens, as well as the refinancing of two separate skilled nursing facilities in Georgia. The three-year, fixed-rate loan features interest-only payments for the full term and is prepayable at any time. Built in 1996, Brighton Gardens features both assisted living and memory care units.
LAKE WORTH, FLA. — SRS Real Estate Partners has negotiated the $2.8 million sale of a single-tenant retail property located at 9955 Lake Worth Road in Lake Worth, a suburb of West Palm Beach. The South Florida store, which opened on a 0.6-acre parcel in August, has a 10-year corporate-guaranteed lease in place with MD Now, an urgent care provider with more than 60 locations. Patrick Nutt and William Wamble of SRS represented the seller, a locally based development firm, in the transaction. An unnamed private investor based in Florida purchased the store in a 1031 exchange. The 3,250-square-foot store is situated within Woods Walk Plaza, an 88,000-square-foot shopping center anchored by Publix.
READING, PA. — Cushman & Wakefield has brokered the sale of a 250,955-square-foot distribution center in Reading, about 60 miles northwest of Philadelphia. The property at 615 Aviation Road features 10,383 feet of office space, a clear height of 32 feet, 58 dock doors, 15 van dock doors and 10 drive-in doors. Chris Sheldon, Gerry Blinebury and Brendan McGeary of Cushman & Wakefield represented the developer and seller, SunCap Property Group, in the transaction. The buyer and sales price were not disclosed. At the time of sale, the property was fully leased to an undisclosed transportation and logistics company.
ELMWOOD PARK, N.J. — JLL has arranged financing for Riverwalk Phase IV, a 150-unit multifamily project that will be located in the Northern New Jersey community of Elmwood Park. Thomas Didio Jr. and John Cumming of JLL arranged the financing, which consisted of a $32 million, floating-rate construction loan from Provident Bank and a $17 million preferred equity investment from Hickory CRE Lending. The initial phases of the larger Riverwalk development were completed in 2012-2013. The final phase, which is slated for a fourth-quarter delivery, will also feature 15,000 square feet of retail space.
LAS VEGAS — Ares Management and CapRock Partners have completed the disposition of Spanish Ridge Industrial Park in Las Vegas. EastGroup Properties bought the Class A facility for $54.8 million. Spanish Ridge consists of three single- and multi-tenant buildings totaling 230,899 square feet in the southwest of the city. The park’s 133,075-square-foot, 75,836-square-foot and 21,988-square-foot buildings feature clear heights ranging from 24 feet to 30 feet, ESFR sprinklers, warehouse evaporative coolers, ample power, 128-foot to 180-foot concrete truck courts, and a combined 50 dock-high doors and 11 grade-level doors. Additionally, the park offers five office spaces totaling 2,000 square feet. At the time of sale, the property was fully leased to five investment-grade credit tenants. The industrial park is located at 5425 and 5365 S. Riley St. and 8875 W. Hacienda Ave. Andrew Briner and Bret Hardy of Newmark represented the sellers, with support from Rob Lujan and Jason Simon of JLL’s Industrial Las Vegas office. Terms of the deals were not disclosed.