REBusinessOnline

Mohr Capital Buys 350-Room DoubleTree by Hilton Hotel in Central Austin

AUSTIN, TEXAS — Dallas-based investment firm Mohr Capital has acquired DoubleTree by Hilton Austin, a 350-room hotel located at 6505 N. Interstate 35 in the central part of the state capital. The six-story hotel includes 25,000 square feet of meeting and event space. Mohr Capital plans to invest about $11 million in capital improvements to guestrooms, elevators and common areas. John Bourret and Austin Brooks of Hodges Ward Elliott represented the undisclosed seller in the

BH Management Services Acquires 272-Unit Apartment Community in Aurora, Illinois

AURORA, ILL. — BH Management Services has acquired Legacy at Fox Valley in Aurora for an undisclosed price. The 272-unit apartment community was built in 1998. The property recently underwent renovations to the amenities, major building systems and more than half of the unit interiors. Amenities include a clubhouse, event kitchen, outdoor heated pool, dog park and volleyball court. John Jaeger and Justin Puppi of CBRE represented the seller, White Oak

CrossMarc, MCB Acquire Springs Plaza Shopping Center in Longwood, Florida for $19.6M

LONGWOOD, FLA. — Winter Park, Fla.-based CrossMarc Services and Baltimore-based MCB Real Estate have purchased Springs Plaza, a 64,753-square-foot shopping center in Longwood, about 15 miles north of Orlando. Faison Enterprises also provided equity for the $19.6 million acquisition. Casey Rosen and Dennis Carson of CBRE represented the seller, an affiliate of New York-based Apollo Global Management, in the transaction. The shopping center was built in 1979 and renovated in 2017. …

CBRE Investment Management Provides $85.3M Acquisition Loan for Multifamily Community in Metro Atlanta

DORAVILLE, GA. — A fund sponsored by CBRE Investment Management closed on an $85.3 million mortgage loan to finance Atlanta-based Carroll’s acquisition of the 592-unit Arium Winters Chapel apartment community in the Atlanta suburb of Doraville. The floating-rate loan has an initial term of three years with a two-year extension option. The loan features future funding to finance the sponsor’s business plan. Robert Kadoori of CBRE’s Debt & Structured Finance team in Atlanta arranged the …

Hanley Investment Group Arranges Sales of Three Retail Properties in Suburban Chicago for $10M

PLANO, WAUKEGAN AND NEW LENOX, ILL. — Hanley Investment Group Real Estate Advisors has arranged the sales of three retail properties in suburban Chicago for roughly $10 million. In the first transaction, Lakewood Springs Commons in Plano sold for $3 million. The 26,300-square-foot center was built in 2007. Dylan Mallory, Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller, a private investment group based in Chicago. Greg Cline of The Cline Co. …

Avanath Capital Acquires Two Multifamily Communities in Brooklyn for $315M

NEW YORK CITY — Avanath Capital Management, a private real estate investment management firm, has purchased two multifamily communities in Brooklyn. The Irvine, Calif.-based company purchased the two properties, which total 601 apartments and 42,643 square feet of ground-floor retail space, for $315 million. The properties also include 82,681 square feet of parking. The seller was not disclosed, but multiple outlets report the seller as Greenland USA, a residential and commercial real estate …

JVM Realty Acquires 219-Unit Luxury Apartment Complex in Overland Park, Kansas

OVERLAND PARK, KAN. — JVM Realty Corp. has acquired The Vue, a 219-unit luxury apartment complex in the Kansas City suburb of Overland Park. Hunt Midwest sold the asset for an undisclosed price. Units at The Vue, located at 7201 W. 80th St., average 936 square feet. Completed in 2018, the six-story property includes 7,300 square feet of ground-floor retail space that is leased to tenants such as Parisi Coffee and Evolve Juicery & Kitchen. Amenities include a sundeck, fitness center, …

KB Investments Acquires 280-Unit Multifamily Community in Central Phoenix

PHOENIX — KB Investments has acquired Green Leaf Arts District, an apartment complex in Central Phoenix, for an undisclosed price.Located at 222 E. McDowell Road, the property features 280 units with nine-foot ceilings, gourmet kitchens, granite countertops, stainless steel appliances and modern cabinetry. Common area amenities include a two-story clubhouse with an upscale chef’s kitchen, a swim deck with a pool, spa and covered fireplace, a two-story fitness facility and outdoor yoga …

Silver Star Real Estate Buys Multifamily Community in Glendale, Arizona, for $26.5M

GLENDALE, ARIZ. — Silver Star Real Estate has purchased Maryland West, a multifamily community located at 4530 W. McLellan Road in Glendale. CRSC Residential Inc. sold the asset for $26.5 million, or $265,000 per unit.Built in 1970, Maryland West features 100 apartments, the majority of which are two- and three-bedroom units. Communal amenities include onsite laundry facilities, a basketball court, playground and covered parking.Cliff David and Steve Gebing of Institutional Property …

JLL Negotiates Sale of 162,919 SF Office Building in Houston’s Energy Corridor

HOUSTON — JLL has negotiated the sale of One Park 10 Plaza, a 162,919-square-foot office building in Houston’s Energy Corridor area. The eight-story building is located within the 550-acre Park 10 master-planned development and was 76 percent leased at the time of sale. The property includes a 560-space parking garage. Marty Hogan and Kevin McConn of JLL represented the seller, Florida-based investment firm Accesso Partners, in the transaction. Houston-based private equity firm Interra …




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