REBusinessOnline

Bascom Group Adds to Las Vegas Portfolio with $49.6M Apartment Building Acquisition

LAS VEGAS — The Bascom Group has purchased ReNew at Decatur, a multifamily community in Las Vegas, for $49.6 million, or $229,630 per unit in an off-market transaction.Built in 1988, ReNew at Decatur features 216 apartments with private patios or balconies, with 78 percent of the floorplans two- or three-bedroom layouts. The community features a fitness center, resident clubhouse, business center, pool and barbecue area. Bascom plans to upgrade the property’s unrenovated units and …

Tempus Realty Partners Buys Warner Crossing Office Complex in Tempe, Arizona

TEMPE, ARIZ. — Little Rock, Ark.-based Tempus Realty Partners has purchased an office complex located at 8312 S. Hardy Drive in Tempe. Woodland Hills, Calif.-based Younan Properties sold the asset for an undisclosed price.Built in 2000, the two single-level office buildings offer a total of 138,180 square feet of space. Three investment-grade tenants occupy the asset.Isaac Smith of Colliers in Arkansas represented the buyer, while Mindy Korth of Colliers in Arizona represented the …

GPI Cos. Sells Medical Office Building in North Hollywood in Off-Market Transaction

LOS ANGELES — GPI Cos. has completed the disposition of a medical office building located in Los Angeles’ North Hollywood neighborhood. Principal Real Estate Investors acquired the asset for an undisclosed price in an off-market transaction.Located at 4343 Lankershim Blvd., the three-story property features 32,418 square feet of medical office space. The property is fully leased to a local health institution and offers pain medicine and digestive disease services.Andrew Milne, Evan …

Urbana Group, Fringe Capital Partners Acquire Camino Village Multifamily Community in Phoenix for $16M

PHOENIX — A partnership between Arizona-based Urbana Group and Illinois-based Fringe Capital Partners has purchased Camino Village I & II, an apartment property located at 2015 and 2039 W. Union Hills Drive in Phoenix. A private investor from Santa Barbara, Calif., sold the asset for $16 million.The property features 80 apartments with 70 percent as two-bedroom layouts averaging 1,000 square feet. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE represented the …

Faris Lee Negotiates $5.4M Sale of CVS-Occupied Building in Bakersfield, California

BAKERSFIELD, CALIF. — Faris Lee Investments has arranged the sale of a freestanding retail property located at 2690 Mount Vernon in Bakersfield. Southern California-based Intertex Property Advisors acquired the building from a Los Angeles-based developer for $5.4 million.The property is absolute triple-net leased to CVS Y Mas, which has occupied this location for 48 years. Other tenants include 99 Cents Only, Chase Bank, Arco AM/PM and Denny’s.Sean Cox and Jeff Conover of Faris Lee …

ZMR Capital Acquires The Julia Multifamily Property in Mesa for $90.1M

MESA, ARIZ. — Tampa-based ZMR Capital has purchased The Julia, an apartment community located at 546 S. Country Club Road in Mesa, for $90.1 million. The name of the seller was not released.Originally developed in 1986, The Julia features 320 apartments. The previous owners upgraded 153 units, and ZMR plans to renovate the remaining units with upgraded counter tops and cabinets, stainless steel appliances, tile backsplashes, plank flooring and modern light

Edison Equity Receives $23M Construction Loan for 55 Resort Apartments in Greeley, Colorado

GREELEY, COLO. — Dallas-based Edison Equity Management has received $23 million in construction financing for the development of 55 Resort Apartments, an age-restricted multifamily property located in Greeley.Located on the former site of the Garnsey & Wheeler Ford dealership, 55 Resort Apartments will feature 84 apartments for adults aged 55 or older. Each unit will feature stainless steel appliances, quartz countertops, hardwood flooring and tiled bathrooms. The four-story complex …

Brookfield Properties Buys 255,000 SF Industrial Building in La Mirada, California

LA MIRADA, CALIF. — Brookfield Properties has purchased an industrial property located at 14555 Alondra Blvd. in La Mirada. Interstate 5 Firestone sold the asset for an undisclosed price.Originally built in 1969 and completed in 2016, the 255,000-square-foot property features more than 11,000 square feet of office space, substantial storage facilities, 22-foot clear heights, a concrete-fenced yard and oversized truck doors. The property also features an on-site truck washdown and a …

Norvin Healthcare Properties Purchases 60,000 SF Post-Acute Facility in Golden, Colorado

GOLDEN, COLO. — Norvin Healthcare Properties has acquired Post Acute Medical Rehabilitation Hospital of Golden from Golden Senior Housing I Propco LLC for an undisclosed price.Post Acute Medical (PAM) occupies the 60,000-square-foot in-patient rehabilitation facility, located at 600 Golden Ridge Road. PAM is currently completing a $4.2 million renovation of the building, which will expand the capacity of the facility to 60 rehabilitation beds.Chris Bodnar, Lee Asher, Ryan Lindsley and …

Marcus & Millichap Brokers $3.3M Sale of Walgreens-Occupied Property in Glendale, Arizona

GLENDALE, ARIZ. — Marcus & Millichap has arranged the sale of a retail building located at 8309 W. Glendale Ave. in Glendale. A limited liability company sold the property to an undisclosed limited liability company for $3.3 million.Walgreens occupies the 15,022-square-foot property on a net-leased basis. The building was construction in 2001.Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller and procured the buyer in the

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