ORLANDO, FLA. — CBRE has brokered the $22.2 million sale of Vista Verde Apartments located at 1659 Hiawassee Road in Orlando. The 200-unit apartment community was 97 percent occupied at the time of sale. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller, Los Angeles-based Karlin Real Estate, in the transaction. The property features a resort-style swimming pool and sundeck, private garages and washer and dryers in every unit.
DALLAS — Olympus Property has acquired The Mosaic, a 440-unit high-rise apartment building in downtown Dallas. The Mosaic consists of two connected residential towers of 21 and 32 stories along with a nine-story parking garage. The buildings were originally home to the Fidelity Union Life Insurance Co. The buildings were constructed in 1951 and 1962 and were redeveloped into apartments in 2007. Amenities include a swimming pool and spa, outdoor movie theater, gas fire pit, outdoor kitchen, gym, lounge, billiards area and a cigar lounge/poker room. The Mosaic contains 285 one-bedroom and 148 two-bedroom units.
DALLAS — JLL has negotiated a 157,568-square-foot office lease at One Arts Plaza on behalf of EnLink Midstream Partners LP and EnLink Midstream LLC. One Arts Plaza is located at 1722 Routh St. in the Dallas arts district. The company plans to relocate in 2016. Steve Thelen, Jeff Staubach and Torrey Littlejohn of JLL negotiated the lease on behalf of the tenant. Dallas-based architecture firm Corgan will design the new space.
LAS VEGAS – The 173-unit Townhome Villas in Las Vegas has sold to Las Vegas Residential Properties for $8 million. The community is located at 1000-1100 Dumont Blvd. The seller, H&B One LLC, was represented by NAI Vegas’ Sauter Multifamily Group.
DALY CITY, CALIF. – Blue Line Pizza has opened a 2,978-square-foot pizzeria at Westlake Shopping Center in Daly City. The new outpost is located at 511 Westlake Center. This is the pizza chain’s fifth Bay Area location. The restaurant was represented by Ross White of SRS Real Estate Partners’ San Francisco office. The landlord was not named.
LANSDALE, PA. — HLC Equity has acquired an 11,180-square-foot property located at 10 W. Main St. in Lansdale. Situated on 1.2-acre pad and built in 1998, the retail property sold for $4 million, according to CoStar. Rite-Aid currently occupies the property under a long-term, triple-net lease. Additional details about the transaction were not disclosed.
BROWNSVILLE, TEXAS — CBRE Hotels has brokered the sale of the 86-room Homewood Suites hotel in Brownsville, 15 miles north of the Mexico border. Blue Star Hospitality LLC purchased the property, which is located at 3759 N. Expressway from an unnamed California-based company. The new owner plans to renovate the hotel and maintain the Homewood Suites brand. Bert Stevens of CBRE Hotels’ Dallas office represented the seller. The hotel features a business center, 630-square-foot meeting room, gym, pool, sports court and barbecue area. The property is located near the Port of Brownsville, Brownsville-South Padre Island International Airport and the University of Texas at Brownsville.
HOUSTON — Phoenix Capital Partners LTD, a Dallas-based private equity firm, has purchased The Villas at West Oaks, a 342-unit apartment complex located in Houston. This will be the first acquisition investment for Phoenix Capital Realty Fund VI LP, which is sponsored by Phoenix Capital.
HOUSTON — Lubert-Adler has sold Tiburon, a 320-unit Class A apartment complex in Houston, to a private individual. ARA Real Estate Investment Services represented Lubert-Adler in the transaction. Lubert-Adler acquired Tiburon in 2011 from its original developer, UDR Inc., as part of a larger value-add multifamily investment strategy. Tiburon was built in 2008 and is located just off Beltway 8, less than two miles from U.S. Highway 290. Amenities include a clubhouse, business center, gym and swimming pool.
NEW YORK CITY — Rosewood Realty Group has arranged the sale of a four-building portfolio in Brooklyn. A long-term investor purchased the assets for $24.1 million from a local seller. The portfolio includes 256 E. 37th St., 2902 Cortelyou Road, 3613 Avenue D and 414 East 34th St. The portfolio features 164 apartment units and six commercial units. David Berger of Rosewood Realty represented the buyer, while Aaron Jungreis, also of Rosewood, represented the seller in the transaction.