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Stratford-Square-Apts-Burien-WA
AcquisitionsMultifamilyWashingtonWestern

Family Operator Purchases 32-Unit Stratford Square Apartments in Burien, Washington for $7.3M

by Amy Works

BURIEN, WASH. — Stratford Square LLC has completed the disposition of Stratford Square Apartments, a 32-unit multifamily property in Burien, approximately 10 miles south of Seattle. A local family operator acquired the asset for $7.3 million. Located at 12707-12733 13th Lane SW, Stratford Square Apartments features three three-story, garden-style buildings, each offering eight two-bedroom/1.5-bath units approximately 1,000 square feet in size, and four duplexes with two-bedroom/1.5-bath townhome-style units featuring parking garages. Originally built in 1988, the property offers covered and uncovered on-site parking, in-unit washers/dryers, dishwashers, fireplaces and balconies in most units. Jacob Odegard, Dan Chhan, Tim McKay, Dylan Roeter and Matt Kemper of Cushman & Wakefield represented the buyer, while Jon Breiner and Nick Hemming of Paragon Real Estate Advisors represented the seller in the transaction.

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2626-E-Elwood-St-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

Edgewood REIT Buys 25,393 SF Industrial Building in Phoenix from Alliance Plumbing in Sale-Leaseback Transaction

by Amy Works

PHOENIX — Arizona-based Alliance Plumbing Service and Repair has completed the sale-leaseback of an industrial building located at 2626 E. Elwood St. in central Phoenix. Edgewood REIT acquired the asset for $6.4 million. Built in 2019, the property features a 25,393-square-foot building on a C-2-zoned lot and a secured yard with electrical gate for equipment and trucks. Alliance Plumbing has leased the property for 12 years. Brian Ackerman of Colliers in Arizona handled the transaction and assisted in structuring the lease for Alliance Plumbing. Edgewood REIT is a North Dakota-based REIT that was founded in 2010.

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Autumn-Leaf-Airway-Heights-WA
AcquisitionsMultifamilyWashingtonWestern

Kidder Mathews Negotiates $3.6M Sale of Autumn Leaf Apartments in Airway Heights, Washington

by Amy Works

AIRWAY HEIGHTS, WASH. — Kidder Mathews has brokered the sale of The Autumn Leaf Furnished Apartments, located at 12911 W. 13th Ave. in Airway Heights, a suburb west of Spokane. The property traded for $3.6 million. Max Frame of the Simon and Anderson team at Kidder Mathews represented the undisclosed seller in the deal. The name of the buyer was also not released. Built in 2017, The Autumn Leaf features 24 units.

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10128-Wadsworth-Pkwy-Westminster-CO
AcquisitionsColoradoNet LeaseRetailWestern

CW Real Estate Partners Brokers $3.3M Sale of 7-Eleven-Occupied Retail Property in Westminster, Colorado

by Amy Works

WESTMINSTER, COLO. — CW Real Estate Partners has arranged the sale of a retail property located at 10128 Wadsworth Parkway in Westminster, a northern suburb of Denver. Equitas Development LLC & CAP Cincy LLC acquired the asset from 10108 Wadsworth Parkway LLC for $3.3 million. 7-Eleven occupies the property on a net-lease basis. Chris Wiedenmayer of CW Real Estate Partners represented the seller in the transaction.

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CaliforniaDevelopmentMultifamilyStudent HousingTop StoriesWestern

Landmark Properties Breaks Ground on 1,284-Bed The Standard at Los Angeles Student Housing Community Near USC

by Kristin Harlow

LOS ANGELES — Landmark Properties has broken ground on The Standard at Los Angeles, a 1,284-bed student housing community located a few blocks south of the University of Southern California (USC) campus. The mid-rise apartment building will include the construction of 1,236 beds across 429 units, as well as the renovation of five existing townhomes that will comprise 48 beds. Landmark Construction, the in-house general contractor for Landmark Properties, is managing construction. HED designed the project. The property is slated to open in August 2026. Situated at the east side of the 160-acre Exposition Park, The Standard at Los Angeles will include a mix of floor plans ranging from studios to five-bedroom units. Residences will be fully wired for high-speed internet. Landmark says the amenity package at The Standard at Los Angeles will be one of the largest by square footage within its portfolio. Residents will have access to more than 60,000 square feet of indoor and outdoor amenity spaces. The rooftop will include a resort-style pool with a sun deck, Jumbotron and outdoor grilling stations. The clubhouse spaces will be anchored by a rooftop clubroom adjoining the 24-hour fitness center. Students will have access to multiple study lounges as …

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8152-W-Eastman-Pl-Lakewood-CO
AcquisitionsColoradoMultifamilyWestern

Brixton Capital Buys 352-Unit The Windsor Multifamily Community in Lakewood, Colorado for $124.2M

by Amy Works

LAKEWOOD, COLO. — Brixton Capital has acquired The Windsor, a townhome and apartment property in Lakewood, from Boston-based TA Realty for $124.2 million. The buyer plans to rebrand the community as Brixton Townhomes at Bear Creek and complete a comprehensive renovation to unit interiors and enhance common area amenities. Located at 8152 W. Eastman Place on 29 acres, The Windsor features 53 buildings totaling 392,000 square feet of leasable space. The property offers 352 units, averaging 1,115 square feet, with one- and two-car direct-access garages, in-unit washers/dryers and nine- to 10-foot ceilings. San Francisco-based Carmel Properties originally built the property, which offers a blend of single-family-style living at apartment rental rates. In collaboration with Greystar, Brixton’s third-party property management company, the firm will provide asset management for the property. Brixton Capital and TA Realty were both self-represented in the transaction.

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1000-1100-Dexter-Seattle-WA
AcquisitionsOfficeWashingtonWestern

Palisade Group, Sabal Investment Holdings Acquire Two-Building Office Campus in Seattle for $47.5M

by Amy Works

SEATTLE — Palisade Group and Sabal Investment Holdings have purchased two office buildings at 1000 and 1100 Dexter Ave. in Seattle’s South Lake Union submarket for $47.5 million, or $213 per square foot. Totaling 223,333 square feet, the Class A property offers access to various transportation options, including direct connectivity to Westlake, Eastlake and bike paths for the Fremont commuters, along with proximity to an abundance of walkable amenities and neighborhoods. Kevin Shannon, Nick Kucha, Michael Moll, Rachel Jones and Liam Ogburn of Newmark represented the sellers, SBC and Stockbridge, in the deal.

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Cobalt-Apts-Los-Angeles-CA
AcquisitionsCaliforniaMultifamilyWestern

Greystar Sells 135-Unit Cobalt Apartments in Los Angeles to Helio Group

by Amy Works

LOS ANGELES — Greystar has completed the disposition of Cobalt Apartments, a multifamily community in the West Los Angeles-Culver City area of Los Angeles. The acquisition price was not released. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer, Hello Group, in the deal. Built in 2019, Cobalt Apartments offers 135 units with stackable washers/dryers, stainless steel appliances and vinyl-plank flooring. Select units have large private patios or balconies, walk-in closets and linen closets. Community amenities include a clubhouse, fitness center, heated pool and spa, two open-air lounges, gated covered parking and bike storage.

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Merx-Portland-OR
DevelopmentMultifamilyOregonWestern

Deacon Development Nears Completion of Three Multifamily Communities in Oregon Totaling 352 Units

by Amy Works

PORTLAND AND SALEM, ORE. — Deacon Development is nearing completion on three apartment properties, totaling 352 units, in Portland and Salem — Rivenwood, Merx and Paceline. CloudTen Residential will oversee all lease-up and management activities at the assets. Situated in Portland’s Slabtown submarket, the seven-story Merx will feature 126 studio and one-bedroom apartments ranging from 297 square feet to 453 square feet. Originally the site of Sylvia’s Grocery, which opened in 1884, Merx (short for mercantile) will offer a resident lounge, coffee bar, private outdoor terrace and rooftop deck, as well as ground-floor retail space. Pre-leasing is slated to begin this month with units ready for move-in late April 2024. Located at 1341 N. Killingworth St. in Portland, Paceline will feature 69 studio and one-bedroom apartments, ranging from 350 square feet to 460 square feet. All apartments will include in-unit washers/dryers, custom casework, quartz countertops and expansive windows. Community amenities will include package lockers, bike parking and a rooftop deck. Completion is scheduled for June 2024. The five-story Rivenwood, located at 420 Center St. NE in downtown Salem, will offer 157 studio, one- and two-bedroom apartments ranging from 370 square feet to 849 square feet. Apartments will include stainless steel …

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Fox-Village-Theatre-LA-CA
AcquisitionsCaliforniaRetailWestern

Newmark Brokers Sale of Fox Village Theatre in Los Angeles

by Amy Works

LOS ANGELES — Newmark has arranged the sale of Fox Village Theatre at 945 Broxton Ave. and 10959 Weyburn Ave. in Los Angeles’ Westwood Village. Terms of the transaction were not released. Built in 1929, Fox Village Theatre had its original grand opening in 1931. Designed by Percy Park Lewis, Fox Village Theatre spans a combined building area of 24,099 square feet, including a 17,155-square-foot operating theatre and 6,944 square feet of retail space that includes a 3,088-square-foot Starbucks Coffee. The property also features a 170-foot tower. At the time of sale, the asset was 84 percent occupied. Steven Salas, Bill Bauman and Kyle Miller of Newmark represented the undisclosed sellers in the deal.

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