more_sales_and_leases

Frazer Capital Sells Retail, Office Property in Boston for $24.8M

by Amy Works January 12, 2018

BOSTON — Frazer Capital has completed the sale of a retail and office building located at 41 Winter St. in Boston. Gazit Horizons Inc., a subsidiary of Israel-based Gazit-Globe, has purchased the property for $24.8 million, or $864 per square foot. Located in Boston’s Downtown Crossing district, the property features 28,690 square feet of retail and office space. At the time of sale the property was fully leased. Liberty Travel anchors the building. Robert Griffin, Edward Maher, Geoffrey Millred, Matthew Pullen, Justin Smith, Paul Penman and Christopher Peterson of NKF Capital Markets represented the seller in deal.

January 12, 2018

Multifamily Southeast Tennessee

Carroll Organization Sells 1,037-Unit Apartment Property in Memphis

by Camren Skelton January 12, 2018

MEMPHIS, TENN. — Carroll Organization has sold Arium Shelby Farms, a 1,037-unit apartment community in Memphis. Other terms of the deal were not disclosed, but the Memphis Business Journal reports the Atlanta-based firm originally acquired the asset in 2014 for $46.5 million. Individual units at Arium Shelby Farms include private patios, breakfast bars and full-size washers and dryers. In addition, the community features three fishing lakes, a picnic area, sports court, fitness center and a swimming pool.

January 12, 2018

Industrial Midwest South Dakota

Keating Resources Purchases Industrial Facility in North Sioux City, South Dakota for $5.7M

by Kristin Harlow January 12, 2018

NORTH SIOUX CITY, S.D. — Keating Resources has purchased the Gateway Computer campus in North Sioux City for $5.7 million. The 750,000-square-foot industrial facility is the largest building in the state of South Dakota, according to Keating. The building was constructed for Gateway in six phases from 1989 to 1997 for an estimated cost of over $70 million. The building, which is 61 percent occupied, will be repainted in the summer of 2018 with a cow pattern paying homage to Gateway’s brand. The building will be rebranded Gateway Business Center, and located within the Gateway Business Park, which was developed by Berkshire Hathaway and is owned by MidAmerican Energy. Chris Bogenrief of NAI United, Jere Hench of Colliers International and Robert Litz of Farmers National Co. were the brokers for the transaction.

January 12, 2018

Illinois Midwest Office

RDG Acquires 37,172 SF Office Building in Chicago’s West Loop

by Kristin Harlow January 12, 2018

CHICAGO — RDG Funds LLC has acquired 156 N. Jefferson Street in Chicago’s West Loop for an undisclosed price. RDG plans to redevelop and restore the 37,172-square-foot historic timber and beam loft office building. Currently vacant, the property is located two blocks from the Ogilvie Transportation Center.

January 12, 2018

New York Northeast Office

StepStone Real Estate to Acquire Courtland Partners

by Amy Works January 11, 2018

NEW YORK CITY — StepStone Group Real Estate, a real estate investment firm, has entered into an agreement to acquire Cleveland, Ohio-based Courtland Partners, a real estate advisors group. The transaction is expected to close by the end of March, subject to customary closing conditions. Following the integration of Courtland, StepStone Real Estate (SRE) will be among the world’s largest and most active real estate solutions providers, managing approximately $100 billion of capital allocations from institutional investors, including more than $2 billion of assets under management and deploying over $10 billion per year to real estate investments through primary fund investments, co-investments, secondaries and recapitalizations. The combined real estate group will have more than 50 professionals working from offices in the United States, Europe and Asia. SRE is part of StepStone Group, a global private markets firm providing customized investment, portfolio monitoring and advisory solutions. StepStone is a global firm with 15 offices in 11 countries around the world, including New York City; Beijing; Dublin, Ireland; Hong Kong; La Jolla, Calif.; London; Luxembourg; Perth; San Francisco; Sao Paulo, Brazil; Seoul, South Korea; Sydney, Australia; Tokyo; Toronto; and Zurich, Switzerland.

January 11, 2018

Massachusetts Multifamily Northeast

NAI Hunneman Brokers $5M Sale of Apartment Building in Boston’s Back Bay

by Amy Works January 11, 2018

BOSTON — NAI Hunneman has arranged the sale of a brownstone apartment building located at 90 Saint Botolph St. in Boston’s Back Bay. 16 Pinckney Street LLC acquired the property from 90 St. Botolph LLC for $5 million. The 10-unit property features eight one-bedroom apartments and two studio apartments. At the time of sale, the building was fully occupied. Carl Christie and Dan McGee of NAI Hunneman represented the seller and procured the buyer in the deal.

January 11, 2018

Multifamily Nevada Western

Citymark Capital, InterCapital Group Acquire 368-Unit Apartment Complex in Las Vegas for $49.2M

by Nellie Day January 10, 2018

LAS VEGAS — A joint venture between Citymark Capital and InterCapital Group has purchased the 368-unit Vintage Pointe apartments in Las Vegas for $49.2 million. The community is located at 6500 Vegas Drive. Vintage Pointe is situated along US Route 95, near employers including the North West Medical District, retail establishments and entertainment centers.

January 10, 2018

Office Texas

ECR Arranges 55,000 SF Office Lease in Austin

by Taylor Williams January 10, 2018

AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has arranged an office lease at Regency Office Center in Austin. Mood Media, a provider of interactive mobile marketing solutions, will occupy 55,000 square feet at the property, which will serve as its new headquarters. ECR represented the landlord in the lease negotiations. Sam Pruitt and Jeff Sheehan of Site Selection Group represented Mood Media.

January 10, 2018

Connecticut Multifamily Northeast

Chozick Realty Facilitates $8M Sale of 120-Unit Apartment Complex in East Hartford, Connecticut

by Amy Works January 10, 2018

EAST HARTFORD, CONN. — Chozick Realty has arranged the sale of Turtle Creek Apartments, a multifamily property located in East Hartford. Up Realty LLC acquired the property from Turtle Creek Realty for $8 million, or $66,666 per unit. Constructed in 1968, the 120-unit property features a mix of studio, one- and two-bedroom layouts, an indoor swimming pool, a steam room, a sauna, a commercial kitchen and dining room for resident functions, an indoor running track, a miniature golf course, fitness rooms, a billiards room, a media room and a library. Steve Pappas of Chozick Realty represented the seller and buyer in the deal.

January 10, 2018

Mixed-Use Multifamily New York Northeast Office Retail

TerraCRG Brokers $5.1M Sale of Development Site in Brooklyn

by Amy Works January 10, 2018

NEW YORK CITY — TerraCRG has arranged the sale of a development site located at 52-56 Ainslie St. in Brooklyn’s Williamsburg neighborhood. An undisclosed buyer acquired the 4,950-square-foot site for $5.1 million. The site offers mixed zoning, allowing for a development project ranging in size from 13,365 square feet to 17,820 square feet depending on use. Ofer Cohen, Dan Marks, Matt Trotter, Peter Matheos and David Algarin of TerraCRG brokered the transaction. The name of the seller was not released.

January 10, 2018

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