more_sales_and_leases

JV Acquires Apartment Community in Gainesville for $8.8M

by John Nelson April 11, 2016

GAINESVILLE, FLA. — LIV Holdings LLC, a joint venture between James Street Capital LLC and Warren Family Holdings I LLC, has purchased a 208-unit garden-style apartment complex in Gainesville for $8.8 million. The property was built in 1981 on nine acres at 1902 S.W. 42nd Way, roughly one mile from the University of Florida campus. The new ownership has teamed up with Gainesville-based management company AMJ Inc. to operate the property, and the joint venture will invest capital to improve community interiors, exteriors and common areas. Darron Kattan, Kevin Kelleher, Zach Ames and Robert Goldfinger of Franklin Street Real Estate Services’ Tampa office represented both the buyer and seller in the transaction.

April 11, 2016

California Retail Western

Newmark Grubb Pearson Commercial Brokers 2,760 SF Lease in Madera

by Nellie Day April 8, 2016

MADERA, CALIF. — Newmark Grubb Pearson Commercial has arranged the lease of 2,760 square feet of retail space at 1460 E. Yosemite Ave. in Madera. Mountain Mike’s Pizza Restaurant has inked a deal with Q/S Tozer Avenue LLC to occupy the space. Craig Holdener and Troy McKenney of Newmark Grubb Pearson Commercial and Jeanette Woerman Mason of Brekke Real Estate negotiated the transaction.

April 8, 2016

California Retail Western

BevMo! Opens 7,567 SF Location in Napa

by Nellie Day April 8, 2016

NAPA, CALIF. — BevMo! Has opened a new location at 3325 Jefferson St. in Napa. The beverage retailer will occupy 7,567 square feet of the Staples building along the Trancas Boulevard. Matt Alexander of SRS Real Estate Partners represented BevMo! in the lease transaction.

April 8, 2016

California Retail Western

AutoZone Leases 7,000 SF for New Location in Gardena

by Nellie Day April 8, 2016

GARDENA, CALIF. — AutoZone, an auto parts retailer, has signed a 10-year lease for 7,000 square feet of end-cap retail space on Crenshaw Boulevard in Gardena. The location is located within a 26,000-square-foot community shopping center. Geoff Grossman and Aaron Guido of Centers Business Management represented the undisclosed landlord in the transaction.

April 8, 2016

Retail Texas

M&M Arranges Sale of 8,228 SF Retail Property in Metro Dallas

by Haisten Willis April 8, 2016

GARLAND, TEXAS — Marcus & Millichap has arranged the sale of Broadway Plaza, an 8,228-square-foot retail property located in Garland. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a developer. Broadway Plaza is located at 6226 Broadway Blvd. The center is 83 percent leased, and all current leases are triple net. Tenants include T-Mobile, Dallas Gold & Silver, Sprint and AT&T. The building was constructed in 2011 and sits on 1.1 acres.

April 8, 2016

Multifamily Texas

Bell Partners Acquires Apartment Community in Dallas

by Haisten Willis April 8, 2016

DALLAS — Bell Partners Inc. has acquired Avenue H, a recently completed, 208-unit apartment community located in the Knox-Henderson area of Dallas. The community has been renamed Bell Knox District and will be managed by Bell Partners. Completed in 2015, Bell Knox District is a Class A community and the first to be built in the last 10 years in the Knox/Highland Park neighborhood. The property is nearing the end of lease-up and is 82 percent occupied. The community is a six-story, podium-style building above two levels of structured parking. Floor plans consist of a mix of studios, one-bed/one-bath and two-bed/two-bath layouts. Property amenities include a clubhouse with a conference center and coffee bar, pool deck, fitness studio, outdoor barbeque area with grills, elevator access and covered parking.

April 8, 2016

Multifamily North Carolina Southeast Student Housing

The Preiss Co. Acquires 546-Bed Student Housing Community Near NC State

by John Nelson April 8, 2016

RALEIGH, N.C. — The Preiss Co. has acquired Campus Edge, a 546-bed student housing community located near the North Carolina State University campus in Raleigh. Preiss plans to begin a $2.2 million renovation on the property this year, which should be complete by fall 2017. The community consists of 13 two- and three-story, garden-style buildings with furnished and unfurnished units. Property amenities include a computer lab, resort-style swimming pool, fitness center, tanning bed, volleyball and basketball courts, dog park, clubhouse with a game room and a car wash area. The community’s furnished units, which comprise roughly 88 percent of inventory, feature nine-foot ceilings, patios or balconies, appliances, full-sized washers and dryers, private bathrooms, walk-in closets, monitored intrusion alarms, extended basic cable and high-speed Internet.

April 8, 2016

Healthcare Midwest Wisconsin

Physicians Realty Trust to Acquire 52 Medical Office Assets for $724.9M

by Christina Cannon April 8, 2016

MILWAUKEE — Physicians Realty Trust, a healthcare REIT, has executed a series of purchase and sales agreements, as well as a letter of intent, to acquire 52 medical office facilities from the Catholic Health Initiatives (CHI) for $724.9 million. The CHI portfolio is 94 percent leased and contains 3.1 million square feet of space across 10 states. Approximately 93 percent of the in-place net operating income during the first year will stem from new 10-year lease agreements. The portfolio purchase price includes $32.9 million of future capital improvements, most of which will be completed in the next five years. Physicians Realty Trust expects to close the acquisition in two tranches, the first of which will close this month and cost $202 million. The acquisitions are subject to customary closing conditions, which include the Vatican’s approval to purchase 35 facilities. Catholic Health Initiatives, the fifth largest non-profit health system in the United States, owns over 103 hospitals.

April 8, 2016

Illinois Midwest Multifamily

Interra Realty Arranges $3.5M Sale of 36-Unit Apartment Property in Chicago

by Christina Cannon April 8, 2016

CHICAGO — Interra Realty has arranged the sale of a 36-unit property in Chicago’s Edgewater neighborhood for $3.5 million. Horizon Realty purchased the building from an undisclosed out-of-state entity. The property, located at 5910 N. Sheridan Road, consists of six two-bedroom units, 18 one-bedroom units and 12 studio apartments. Two dozen of the units feature unobstructed lake views, and the building includes 18 parking spaces. The new owner plans to upgrade the building’s exterior as well as interior units. Craig Martin of Interra Realty represented both entities in the transaction.

April 8, 2016

Multifamily Seniors Housing Texas

Capital Senior Ventures Buys 33-Property Skilled Nursing Portfolio in South-Central Texas

by Haisten Willis April 7, 2016

DALLAS — Capital Senior Ventures, a subsidiary of Baltimore-based Capital Funding Group, has acquired 33 skilled nursing facilities totaling 4,200 beds in south-central Texas, plus some shovel-ready development sites, for an undisclosed sum. Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, advised the seller, Regency Post-Acute Healthcare System, in the deal. According to IPA, the transaction is the largest seniors housing sale in Texas history. Joshua Jandris, Mark Myers, Peyton Stanforth and Charles Hilding led the Dallas-based IPA team.

April 7, 2016

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