REBusinessOnline

Hyde, Mortenson Expand HighPoint Business Park by 274 Acres, Break Ground on Spec Building in Aurora

AURORA, COLO. — Hyde Development and Mortenson Properties have acquired 145 acres north of the existing 125-acre site of HighPoint Industrial and Logistics Business Park in Aurora, with plans to expand the project onto the new land.Details of the acquisitions were not released. The companies announced the development of HighPoint Logistics Park, a 2.2 million-square-foot industrial park near Denver International Airport, in February.Additionally, next month, the development team will …

Inland Real Estate Buys 151,668 SF Last-Mile Logistics Building in Metro Denver for $57M

THORNTON, COLO. — Oak Brook, Ill.-based Inland Real Estate Group has acquired a newly constructed last-mile logistics building in Thornton. The Opus Group sold the asset, which its Denver office developed in 2019, for $57 million.Located at 900 E. 128th Ave., the 151,688-square-foot facility features 30-foot clear heights, 24 dock-high doors, six drive-in ramped doors, surface parking and a three-level parking structure. At the time of sale, the property was fully leased to a single …

Berkadia Negotiates $49.2M Sale of Raven Multifamily Property in Phoenix

PHOENIX — Berkadia has arranged the sale of Raven, a garden-style multifamily property located in Phoenix. A private Arizona investor sold the asset for $49.2 million.Located at 3606 E. Baseline Road, Raven features 192 apartments in a mix of one-, two- and three-bedroom layouts offering full-size washers/dryers, nine-foot ceilings, spacious closets and private patios or balconies. Completed in 2001, the property also includes a swimming pool and 24-hour fitness center.Mark Forrester, …

NorthMarq Arranges $65.1M Refinancing for Summerly at Zanjero Apartments in Glendale, Arizona

GLENDALE, ARIZ. — NorthMarq has arranged $65.1 million for the cash-out refinancing of Summerly at Zanjero Apartments in Glendale. Brandon Harrington and Tyler Woodard of NorthMarq’s Phoenix Debt and Equity team executed the permanent, floating-rate loan through Freddie Mac for the undisclosed borrower. The loan features a 10-year term with five years of interest-only payments followed by a 30-year amortization schedule.Built in 2019, Summerly at Zanjero features 340 apartments in a mix …

CenterPoint Properties Acquires 57,107 SF Distribution Facility Near Seattle

TUKWILA, WASH. — CenterPoint Properties has purchased an industrial facility located at 365-369 Upland Drive in Tukwila. Terms of the off-market sale-leaseback transaction were not released.Situated on 2.4 acres, the 57,107-square-foot distribution facility features secure parking, a 100-foot truck court, an 11,509-square-foot office space, 24-foot clear heights, six dock-high doors and two drive-in doors.Chris Corr of Kidder Mathews brokered the transaction. The seller was not …

IPA Negotiates $91M Acquisition of Riata Multifamily Complex in Chandler, Arizona

CHANDLER, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Riata, a newly constructed apartment property located in Chandler. A private family trust acquired the asset for $91 million, or $303,333 per unit, as part of a 1031 exchange. San Antonio, Texas-based Embrey Partners developed and sold the property.Marty Cohan of Marcus & Millichap, in collaboration with Cliff David and Steve Gebing of IPA, represented the buyer, …

GJK Properties Divests of Fully Occupied Industrial Facility in Bay Area for $23M

UNION CITY, CALIF. — GJK Properties has completed the sale of an industrial building located at 33401 Central Ave. in Union City. Elion Partners acquired the asset for $23 million.Constructed in 1979 and renovated in 2009, the 94,976-square-foot property features tilt-up construction, 26-foot clear heights, 12 dock-high doors, one grade-level door, skylights and a low office finish.At the time of sale, the property was fully leased. Jason Ovadia and Eddie Shuai of JLL Agency Leasing …

Sares Regis Sells 90-Unit Encore Apartment Community in Redwood City, California

REDWOOD CITY, CALIF. — Sares Regis Group of Northern California has completed the disposition of Encore, a multifamily property located at 855 Veterans Blvd. in Redwood City. Terms of the transaction were not released.The six-story Encore features 90 apartments in a mix of one-, two- and three-bedroom layouts and nearly 5,000 square feet of amenity space. Residences offer stainless steel appliances, in-home washers/dryers, solid-surface countertops, high-efficiency central heat and air …

Merrill Arranges Sale of Independent Living Community in Oregon for $4.1M

NORTH BEND, ORE. — Merrill Commercial Real Estate has arranged the sale of a 69-unit independent living community in North Bend.The 44,000-square-foot community was part of a senior living portfolio that went into receivership in late 2019. The property is one of four properties in the portfolio that make up a continuum-of-care model in the local area. The name of the property and campus were not disclosed.Mike Merrill represented the court-appointed receiver. A California-based …

Kidder Mathews Brokers $3.3M Acquisition of Clover Meadow Apartments in Lakewood, Washington

LAKEWOOD, WASH. — Kidder Mathews has brokered the purchase of Clover Meadows Apartments, a multifamily property located at 12517 47th Ave. in Lakewood. Michael Delaney of Sound Investments acquired the asset from an undisclosed seller for $3.3 million in an off-market transaction.Brandon Lawler, Dylan Simon and Jerrid Anderson of The Simon and Anderson Team, a multifamily investment team at Kidder Mathews, represented the buyer in the transaction.Built in 1968, Clover Meadows features …

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