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AUSTIN, TEXAS — American Campus Communities (ACC) has delivered new student housing projects totaling $855 million this year.  Together, the six communities — which include Meadows Apartments at Princeton University, Casa del Valle at Arizona State University, The Ridge Graduate & Professional Housing at Emory University, xučyun ruwway Graduate Student Apartments at University of California Berkeley, East Campus Graduate Apartments at The University of Texas at Austin and Graduate Junction at MIT — feature 3,867 beds.  Austin, Texas-based ACC is the third-party developer and manager for Graduate Junction (676 beds), East Campus Graduate Apartments (784 beds), The Ridge Graduate & Professional Housing (535 beds) and Meadows Apartments (604 beds).  Amenities at Meadows Apartments at Princeton University include a communal kitchen, children’s playroom and a market and café. In addition to a communal kitchen, The Ridge Graduate & Professional Housing at Emory University features a fitness center, study areas and a parking garage. At Graduate Junction at MIT, amenities include study areas, a recreation center and gym and indoor bike storage.  ACC is the owner, developer and manager of Casa del Valle at Arizona State University, which offers 507 suite-style beds with social lounges, Zen areas and landscaped outdoor amenities. ACC …

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LAS VEGAS AND HENDERSON, NEV. — Colliers has arranged the dual acquisitions of a two-parcel infill logistics portfolio in Henderson and Las Vegas by BKM Capital Partners and an Ares Management Real Estate fund. Michael Kendall, Gian Bruno, Dan Doherty, Paul Sweetland, Jerry Doty, Chris Lane, Brian Riffel and Tyler Jones of Colliers represented the seller, a private institutional investment firm, in the sales. BKM Capital Partners purchased a two-building, 153,368-square-foot property at 6620 Escondido St. in Las Vegas for an undisclosed price. BKM plans to implement a $4.4 million capital improvement program to execute structural and cosmetic improvements to the property, as well as speculative tenant improvements to turn the two large units into nine warehouses ranging in size from 7,000 square feet to 31,000 square feet each. The asset was constructed in 1995. An Ares Management Real Estate fund acquired Airparc Heights, a six-building, Class A business park at 3225-3255 Sunridge Parkway and 1065-1085 Alper Center Drive in Henderson. Ares acquired the park, which will be managed by the Ares Industrial Management team. Spanning 339,214 square feet, the project was delivered in 2022 and gained full occupancy within one month of delivery.

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FORT COLLINS, COLO. — Green Leaf Partners Management has purchased Alvista Harmony, a garden-style multifamily community in Fort Collins, from an affiliate of Phoenix Realty Group and its joint venture partner. Located at 2002 Battlecreek Drive, the property comprises 16 two- and three-story buildings offering 280 one- and two-bedroom units with an average size of 924 square feet. All units feature walk-in closets, private balconies or patios and a washer and dryer. Community amenities include a clubhouse, business center, fitness center, swimming pool, hot tub, grill station, playground, pet park, dog wash, onsite bike storage, 380 surface parking spaces and 96 detached garages. Phoenix Realty Group has completed renovations to the clubhouse and common areas and has fully renovated 116 units. Previous ownership upgraded 52 of the units, with 42 additional units including finish levels comparable to the classic interior scope. Shane Ozment, Terrance Hunt, Andy Hellman, Justin Hunt, Chris Hart and Brad Schlafer of CBRE represented the seller in the deal.

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CATHEDRAL CITY, CALIF. — Calmwater Capital has provided Rhino Investment Group with $20.9 million in short-term, first-mortgage debt for its acquisition of Cathedral City Marketplace, a grocery-anchored retail center in Cathedral City. The 195,000-square-foot shopping center is located in Cathedral City, approximately seven miles southeast of Palm Springs. Situated on 21 acres at 34091-34351 Date Palm Drive, Cathedral City Marketplace offers parking for 1,093 automobiles. Current tenants include Kroger’s Food 4 Less, Planet Fitness, dd’s Discounts, DJ’s Sports Bar and Subway. Calmwater’s Larry Grantham, Zach Novatt and DaJuan Bennett originated the loan. The Los Angeles-based JLL Capital Markets team of Jeff Sause, Chad Morgan, Daniel Skerrett and Jalynn Borders arranged the financing.

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HONOLULU — Greystar has completed the fee-simple sale of Hale Mahana, a student housing property located at 2615 S. King St. in Honolulu. A joint venture between Timberline Real Estate Ventures and an Ares Management Real Estate fund acquired the asset, which is 0.2 miles from the University of Hawaii at Manoa campus, for an undisclosed price. Built in 2018, the 191-unit Hale Mahana offers 589 beds, study rooms, a computer lab, covered parking, fitness center, rooftop deck with grilling stations and ground-level retail space, including Raising Cane’s Chicken Fingers and Jersey Mike’s Subs. The complex offers one-, two-, three- and four-bedroom, fully furnished units with equipped kitchens featuring stainless steel appliances. JLL Capital Markets represented the seller and procured the buyer in the transaction.

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TACOMA, WASH. — Marcus & Millichap has negotiated the sale of 12th Street Storage, a self-storage facility in Tacoma. An undisclosed limited liability company sold the asset to a fund manager for $19 million. Located at 1018 E. Highland Ave., 12th Street Storage offers 91,546 square feet of self-storage space. The facility, which was developed in 2020 and 2021 by a local investment group, was acquired by an international real estate firm based in London and Los Angeles. Christopher Secreto of Marcus & Millichap’s Seattle office represented the seller and secured the buyer in the deal.

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DENVER — Lee & Associates Denver is celebrating 10 years of success, excellence, innovation and client satisfaction. Since its inception in 2014, the company has closed more than 1,000 commercial real estate transactions producing $1 billion in transaction volume. “We are incredibly grateful to our loyal clients, dedicated employees and supportive principals who have been integral to our success throughout this remarkable journey,” says JR Bitzer, managing principal. “This anniversary signifies not only our years of hard work and determination, but also the immense potential that lies ahead as we continue to expand in Colorado.” Lee & Associates Denver is committed to consistently growing, meeting challenges and elevating its standards. Looking ahead, the company aims to enhance its offerings, explore new market opportunities and continue to deliver exceptional value to its clients.

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CERRITOS, CALIF. —  A joint venture between Capital 360 and Charlotte-based Barings has completed the disposition of Extra Space Storage in Cerritos to Houston-based Hines for $91 million. Nick Walker and Trevor Roberts of CBRE’s Self Storage Advisory Group represented the seller in in the transaction. Capital 360 and Barings originally acquired the site in 2018. Situated on 4.9 acres at 17900 Crusader Ave., the three-story, 260,273-square-foot facility offers 2,460 storage units. Constructed in 2020, the facility was more than 88 percent occupied at the time of sale.

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DENVER — Chicago-based Banner Real Estate Group has launched Banner Industrial Properties, a new platform dedicated to industrial real estate investments. The platform will initially focus on value-add properties in key logistics markets throughout the Western United States. Based in Denver, Banner Industrial Properties is led by Mark Bowen as president, Dan Morrison as chief financial officer and Scott Blanding as chief operating officer. With more than 30 years of experience, Bowen’s role will encompass executive leadership, investment sourcing, operations and overall strategy. Bowen most recently served as chief investment officer at Dalfen Industrial. As chief financial officer, Morrison will oversee fundraising and capital markets activities. Previously, he helped launch three U.S.-focused, value-add funds with TradeLane Properties. Blanding will manage asset management, leasing and operations as chief operating officer at Banner Industrial Properties. Previously, he had stints with Viking Partners and DCT Industrial Trust.

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LOS ANGELES — Senior Resources Group (SRG) has purchased Fountainview at Gonda, a seniors housing community in the Playa Vista submarket of Los Angeles, from Los Angeles Jewish Health (LAJHealth) for an undisclosed price. In conjunction with the acquisition, SRG has renamed the property Avocet Playa Vista. A continuing-care retirement community (CCRC), the 199-residence Avocet Playa Vista offers 175 independent living, 12 assisted living and 12 memory care units. Built in 2017 and designed by Gensler, Avocet Playa Vista residences are part of the Playa Vista homeowners association, enabling access to a full-service community with a full-service restaurant, bar/bistro, performing arts theatre, arts center, indoor pool and fitness center, mind and body programs, cultural events and onsite rehabilitative health care. SRG is committed to maintaining the Jewish values foundational to the community and its residents.

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