IRVINE, CALIF. — Sabra Health Care REIT (NASDAQ: SBRA) has acquired 21 skilled nursing facilities in a sale-leaseback transaction with an undisclosed West Coast operator for $378 million. The Irvine-based, publicly traded REIT plans to buy the operator’s three remaining facilities before the end of the year for $52 million, for an expected total purchase price of $430 million. The acquisitions are one of several mega-deals for Sabra this year. In August, the company completed its acquisition of skilled nursing owner and former Ventas spinoff Care Capital Properties. Just last week, Sabra also announced it had agreed to buy minority interest in a 183-property portfolio of Enlivant-operated seniors housing communities for $371 million. Sabra plans to eventually acquire 100 percent interest in the portfolio. Sabra was the 21st largest owner of seniors housing in the U.S. with 74 communities and 7,624 units as of June 1, according to the American Seniors Housing Association’s 2017 tally. However, that ranking was before any of these three major acquisitions. Concurrent with the new sale-leaseback transaction, Sabra also announced that it has begun the process of marketing for sale the remaining 43 facilities that the company leases to Genesis Healthcare Inc. Sabra predicts the sales …
KILLEEN, TEXAS — Conn’s Home Plus, a furniture and home appliances retailer based in The Woodlands, will open a 45,000-square-foot location in Killeen, roughly midway between Austin and Waco. The store will be situated within Wendland Plaza, a 192,322-square-foot retail center located at the corner of State Highway 190 and Fort Hood Street. Grant Gary and Dan Rebensdorf of The Woodmont Co. represented the landlord in the lease negotiations.
FARMERS BRANCH, TEXAS — Colliers International has arranged the sale of a 24,080-square-foot warehouse located at 3225 Garden Brook Drive in the Dallas metro of Farmers Branch. Lizzy Blake and Brad Balke of Colliers represented the seller in the transaction. Stonelake Capital Holdings IV LLC purchased the asset for an undisclosed price.
NEW YORK CITY — TerraCRG has arranged the sale of an apartment building located at 440 Senator St. in Brooklyn’s Bay Ridge neighborhood. An undisclosed buyer acquired the four-story building for $4.8 million, or $340 per square foot. The 14,280-square-foot property features 20 apartment units. Peter Matheos and David Algarin of TerraCRG brokered the transaction.
CALDWELL, N.J. — Cabot Properties has purchased an industrial facility located at 8 Fairfield Crescent in Caldwell. Tulfra Real Estate sold the 62,200-square-foot property for $7.8 million. Built in 1975, the property was fully renovated in 2014 and features 10,000 square feet of office space and 52,200 square feet of warehouse space. The building is fully leased through 2021 by two companies: Regi USA and Inline Distributing Co. Robert Borny and Jose Cruz of HFF brokered the transaction.
RAMAPO, N.Y. — Gebroe-Hammer Associates has arranged the sale of Suburban Manor, a garden-style apartment community located at 214-226 Old Nyack Turnpike in Ramapo. Suburban Manor LLC acquired the property, along with a four-acre development site, from Ramapo Knolls for $6.3 million. The four-building property features 53 apartment units in a mix of studio, one- and two-bedroom layouts. David Oropeza and Debbie Pomerantz of Gebroe-Hammer arranged the transaction.
NEW YORK CITY — Sumaida + Khurana and LENY have acquired a vacant commercial building located at 611 W. 56th St. in Manhattan’s West Side for $65 million. The joint venture plans to demolish the existing structure and redevelop the site into a 35-story residential condominium building. Alvaro Siza designed the building, which will feature 80 units ranging from one- to four-bedroom layouts and penthouses. Amenities will include private terraces, a roof garden, sun deck, fitness center and retail components. Carl Schwartz, Susan Saslow, Douglas Hoffmann and Michal Baum of Hunton & Williams advised the joint venture on the acquisition. The name of the seller was not released.
NEW YORK CITY — Empire State Realty Trust (ESRT) has arranged the lease of three full floors at 1400 Broadway in Manhattan’s Times Square South. International law firm Fragomen, Del Rey, Bernsen & Loewy LLP will occupy the space. The firm currently has more than 40 offices in 20 countries. John Shaunfield, Seth Weinstein and Paul Ippolito of Newmark Knight Frank represented the tenant. Scott Klau, Erik Harris and Neil Rubin of Newmark Knight Frank, along with Keith Cody of ESRT, represented the landlord in the deal.
NORMAN, OKLA. — Marcus & Millichap has brokered the sale of a 26,820-square-foot, net-leased retail property located at 2590 Boardwalk St. in Norman. Vincent Knipp of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties request anonymity. The property is currently leased to Service King Collision Repair Center.
SAN ANTONIO — Stream Realty Partners has brokered the sale of 12626 Silicon, a 109,165-square-foot warehouse/distribution center located in the University Park area of San Antonio. Jason Schnittger and Kevin Cosgrove of Stream represented the seller, First Industrial Realty Trust Inc., in the transaction. Dan Gostylo and Seth Prescott of Providence Commercial Real Estate Services represented the buyer.