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New Castle Acquires Holiday Inn Hotel in Jekyll Island, Georgia for $41M

by Julia Sanders February 4, 2022

JEKYLL ISLAND, GA. — New Castle Hotels & Resorts, a Ridgefield, Conn.-based resort hotel owner and operator, has acquired the Holiday Inn Resort Jekyll Island, a 158-room hotel in Jekyll Island. Georgia Coast Holdings LLC and NorthPointe Hospitality sold the property for $41 million. Rich Lillis of Colliers represented the buyer in the transaction. The Holiday Inn Resort Jekyll Island is a full-service hotel situated on more than seven acres of oceanfront property, including a quarter-mile of beachfront. The hotel features oversized rooms and suites, as well as a playground and lawn area, fire pits and cabanas, kid programming and activities, bike rentals, fitness center, pool and a hot hub. Located at 701 N Beachview Drive, the hotel is located near Driftwood Beach and the Georgia Sea Turtle Center. The hotel also is situated near numerous bike trails and 18 miles from Saint Simons Island.

February 4, 2022

Acquisitions Industrial Northeast Pennsylvania Self-Storage

Marcus & Millichap Brokers Sale of 378-Unit Self-Storage Facility in Greencastle, Pennsylvania

by Taylor Williams January 6, 2022

GREENCASTLE, PA. — Marcus & Millichap has brokered the sale of A-1 Greencastle Self Storage, a 378-unit facility located in Franklin County in the southern part of the state. The facility consists of 71,426 net rentable square feet across 365 non-climate-controlled units, 10 climate-controlled units and three commercial spaces. The property also features 17 parking spaces. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the undisclosed seller in the transaction. Sean Beuche of Marcus & Millichap assisted in closing the deal as the broker of record.

January 6, 2022

Acquisitions Illinois Midwest Retail

Newcastle Properties Buys 42,452 SF Orchard Plaza Retail Center in Skokie, Illinois

by Kristin Harlow December 2, 2021

SKOKIE, ILL. — Newcastle Properties has purchased Orchard Plaza in Skokie for an undisclosed price. This is the first time the 42,452-square-foot retail center has sold in over 60 years. Located near Old Orchard Mall at the corner of Skokie Boulevard and Gross Point Road, the property is home to tenants such as Bonefish Grill, Men’s Wearhouse, Advance Auto and the U.S. Post Office. Beth Sansiper and Jeff Gurian of Becker Gurian represented Newcastle Properties in the transaction. Drew Trammell of Newcastle Properties managed the underwriting and closing. The seller was not provided.

December 2, 2021

Acquisitions Multifamily Texas

Castle Lanterra Buys 255-Unit Broadstone McKinney Apartments in Metro Dallas

by Taylor Williams November 3, 2021

MCKINNEY, TEXAS — New York-based investment firm Castle Lanterra Properties has purchased Broadstone McKinney, a 255-unit multifamily community located on the northern outskirts of Dallas. Units at the newly constructed property feature stainless steel appliances, granite countertops, custom cabinetry and full-size washers and dryers. Amenities include a pool, fitness center, business center, outdoor kitchen, dog park and package lockers. Arizona-based developer Alliance Residential sold the property to Castle Lanterra for an undisclosed price.

November 3, 2021

Acquisitions Multifamily New York Northeast

Castle Lanterra Acquires Two Long Island Multifamily Properties Totaling 315 Units

by Taylor Williams October 29, 2021

HEMPSTEAD AND WEST HEMPSTEAD, N.Y. — New York-based investment firm Castle Lanterra Properties has acquired two multifamily properties totaling 315 units in the Long Island communities of Hempstead and West Hempstead for $136 million. Mill Creek Residential originally developed the communities in 2012. Units at both properties feature stainless steel appliances, breakfast bars, individual washers and dryers and private balconies/patios. In addition, both offer amenities such as pools, clubhouses with lounges, business centers, courtyards with fire pits and private storage spaces. USB Realty Investors sold the assets to Castle Lanterra for an undisclosed price. Jose Cruz, Steve Simonelli, Andrew Scandalios, Jeffrey Julien, Michael Oliver and Kevin O’Hearn of JLL brokered the deal.

October 29, 2021

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 492-Unit Self-Storage Facility in Newcastle, Oklahoma

by Taylor Williams October 19, 2021

NEWCASTLE, OKLA. — Marcus & Millichap has brokered the sale of Riverside Boat & RV Storage, a 492-unit facility in Newcastle, a southern suburb of Oklahoma City. The property spans 161,316 net rentable square feet of space. Bryan Quaschnick, Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private owner who developed the facility, and procured the buyer in the transaction. Both parties requested anonymity.

October 19, 2021

Acquisitions Colorado Retail Western

Marcus & Millichap Brokers $3M Acquisition of Retail Property in Castle Rock, Colorado

by Amy Works October 15, 2021

CASTLE ROCK, COLO. — Marcus & Millichap has arranged the purchase of Encore Castle Rock, a retail building located at 20 Wilcox St. in Castle Rock. A private investor acquired the property for $3 million. Cory Gross of Marcus & Millichap’s Denver office represented the buyer in the deal. Well State Healthcare is a tenant at the 8,297-square-foot property. The buyer plans to open a coffee shop and fitness facility at the building, according to Marcus & Millichap.

October 15, 2021

Acquisitions Multifamily Texas

CBRE Negotiates Sale of 690-Unit Keystone at Castle Hills Apartments in Metro Dallas

by Taylor Williams August 3, 2021

CARROLLTON, TEXAS — CBRE has negotiated the sale of Keystone at Castle Hills, a 690-unit multifamily property in the northern Dallas suburb of Carrollton. According to Apartments.com, the property was built in 1988 and offers one-, two- and three-bedroom units. Amenities include two pools, a fitness center, resident clubhouse with a coworking lounge and outdoor grilling areas. Danny Baker, Nita Stewart, Chandler Sims and Kevin O’Boyle of CBRE represented the seller, Acre Valley Real Estate Capital, in the transaction. Miami-based Starwood Capital Group purchased the property for an undisclosed price.

August 3, 2021

Acquisitions Industrial Michigan Midwest

Castle Lanterra Properties Acquires 270,000 SF Industrial Asset in Lansing, Michigan

by Kristin Harlow June 21, 2021

LANSING, MICH. — Castle Lanterra Properties (CLP), a New York City-based national real estate investment firm, has acquired Snow Road Warehouse in Lansing for an undisclosed price. The two-tenant distribution facility is located at 2510 Snow Road. Built in 1999 and expanded in 2000, the property spans 270,000 square feet with 59 dock doors, two drive-in doors and clear heights ranging from 22 to 24 feet. This is the first major industrial acquisition for CLP, which is known for owning and managing multifamily assets.

June 21, 2021

Acquisitions Illinois Midwest Retail

Newcastle Properties Acquires 7,763 SF Retail Center in Elmhurst, Illinois

by Kristin Harlow April 20, 2021

ELMHURST, ILL. — Newcastle Properties has acquired a 7,763-square-foot retail center in Elmhurst, a western suburb of Chicago. Built in 2016, the property is fully leased to Starbucks, Hand & Stone Massage, T-Mobile and Bentley’s Pet Stuff. The center is shadow-anchored by LA Fitness. Sean Devine of Newcastle sourced and managed the acquisition. Beth Sansiper and Jeff Gurian of Becker & Gurian represented Newcastle in the transaction. The seller and sales price were undisclosed.

April 20, 2021

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