LAS VEGAS – Pathfinder Partners has acquired 64 condominium units at Sky Las Vegas on the Las Vegas Strip. The 42-story, 409-unit luxury condo community is located at 2700 Las Vegas Blvd. South. The units were purchased from the property’s original developer, who had previously sold 345 units and was operating the remaining unsold units as rentals. The transaction was executed by CBRE’s Charles Moore and Marlene Fujita.
LOS ANGELES – The 33-unit El Dorado Villas in the Los Angeles submarket of Sherman Oaks has sold to an international buyer for $19.5 million. The community is located at 4510 Murietta Ave. The community contains individually deeded condos that can be sold separately in the future. The buyer owns other properties in the area and wanted to expand his portfolio with this purchase. The Florida-based seller built the property in 2008. It was represented by Brent Sprenkle of Berkadia.
NEW YORK CITY — Cushman & Wakefield has brokered the fee position sale of a multifamily property located at 1080 Amsterdam Ave. in Manhattan’s Upper West Side. Mount Sinai St. Luke’s sold the fee position for $29.1 million to an undisclosed buyer. Constructed in 1932, the 20-story, 82,250-square-foot apartment building was leased in 2012 to a partnership of SL Green and Stonehedge, who have since completed a full gut-renovation of the entire property. The property is subject to a 99-year net lease that commenced in 2012. Hall Oster, Paul Massey Jr., Teddy Galligan and Andrew Berry of Cushman & Wakefield brokered the transaction.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building located at 168 Driggs Ave. in Brooklyn. The asset, which features six rental units, sold for $3 million. Shaun Riley, James Saros and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the seller, a developer, and secured the buyer, a limited liability company, in the transaction.
SCOTTSDALE, ARIZ. — A joint venture between Security Properties and Intercontinental Real Estate has acquired the 539-unit Pillar at Scottsdale apartment community for $95.8M. The property is located at 17212 North Scottsdale Road in Scottsdale. The community was built in 1999. It is situated across from TPC Scottsdale, home of the PGA’s Waste Management Phoenix Open, as well as from the Fairmount Princess Resort. Pillar at Scottsdale was 96 percent occupied at the time of sale. The seller was Private Portfolio Group. The transaction was executed by CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch.
WESTMINSTER, COLO. — The 444-unit Cascade Village apartment complex in Westminster has sold to a joint venture between Phoenix Realty Group and Real Estate Corporation for an undisclosed sum. The community is located at 6880 W. 91st Court. Cascade Village is situated just half a mile from the 105-acre Westminster Mall master-plan redevelopment that will add 1 million square feet of commercial office space to the area, along with 1.1 million square feet of retail and entertainment venues, and high-density multifamily and residential properties. The unnamed seller was represented by Shane Ozment, Terrance Hunt, Doug Andrews and Jeff Hawks of ARA Newmark.
TAMPA & CLEARWATER, FLA. — Berkadia’s Orlando and Tampa offices have arranged the sale of two Florida properties totaling nearly $53 million. Berkadia negotiated the sale and financing of Mainsail South Residences, a multifamily property located at 4711 S. Himes Ave. in Tampa. Jason Stanton of the Tampa office, along with Cole Whitaker and Hal Warren of the Orlando office, completed the sale on Sept. 10. Justin Ownby of the Tampa office negotiated the $25 million acquisition loan through Berkadia’s Fannie Mae Program. The sellers were Mainsail Villas II LLC and Mainsail Villas Holdings LLC of Tampa. Avesta Acquisition LLC, of Tampa, was the buyer and plans to renovate the property’s interior, exterior and common areas. The 10-year loan features a 2.6 percent floating interest rate and a 30-year amortization schedule. Mainsail South Residences is a 319-unit property built in 1984. Unit amenities include fully equipped kitchens, ceiling fans, cable and Internet access, washer and dryer units, vaulted ceilings and patios or balconies. Select units have fireplaces. Community amenities include a swimming pool, Jacuzzi, sun deck, laundry facility, business center, clubhouse, recreation room, extra storage space and secured access gating. The property is 95 percent occupied and is located on a …
NEW YORK CITY & ATLANTA — Colliers International Group has acquired Colliers International Atlanta. The current shareholders of Colliers Atlanta will continue to retain equity in the business under Colliers’ unique partnership model. Terms of the transaction were not disclosed. Founded in 1967, Colliers International Atlanta offers a full range of services for commercial real estate owners and occupiers. Comprising more than 250 professionals, Colliers International Atlanta provides investment sales, lease brokerage, capital markets, property management and project management to local, regional, national and international clients.
FORT WORTH, TEXAS — Olympus Property has acquired Alexan Arts, a Class A mid-rise apartment community situated on over 3.5 acres and including 368 units. Built in 2015, Alexan Arts offers amenities including a clubhouse with social lounge, swimming pool with outdoor grills and TVs, poolside cabanas, three fireside lounges and a fitness center. Situated in the Dallas Arts District, the property is positioned near the Dallas central business district. Floor plans include quartz countertops, stainless steel appliances, 10-foot ceilings, tile backsplash, private balconies and optional Sonos audio system and private yard upgrades. Alexan Arts is the third property to be added to Olympus Property’s fifth fund, WW Olympus Property V LLC.
GARLAND, TEXAS — Greysteel has arranged the sale of Orchard Hills, a 50-unit multifamily community in Garland. Greysteel’s Texas multifamily investment sales team of Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss represented Meadows Denison Investments LLC in the sale of Orchard Hills to Oyster Rock LLC. Located along West Kingsley Road, Orchard Hills is a garden-style community featuring 24 one-bedroom units and 26 two-bedroom, two-bathroom units. The property offers residents a blend of urban amenities and outdoor activities with a playground, 1.6 miles of trails, a disc golf course, baseball and soccer fields, as well as swimming and recreation at Audubon Park.