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Amerant Bancorp Enters $135M Sale-Leaseback Deal for Office Headquarters in Coral Gables, Florida

by Julia Sanders December 17, 2021

CORAL GABLES, FLA. — Amerant Bancorp Inc., a Coral Gables-based bank holding company, has sold its Coral Gables headquarters to an entity doing business as FNLI Audax LLC in a sale-leaseback deal totaling $135 million. Located at 220 Alhambra Circle, the Amerant Center spans approximately 177,000 square feet of office space and 134,000 square feet in structured parking. Built in 1997, the property will have 402 parking spots and was 82 percent occupied at the time of sale. As part of this transaction, Amerant’s subsidiary, 220 Alhambra Properties LLC, entered into an 18-year triple-net leaseback agreement for about $43 per square foot during the first year. Stream Capital Partners represented Amerant on this transaction.

December 17, 2021

Acquisitions Multifamily Texas

Newmark Brokers Sale of 352-Unit Nexus East Apartments in East Austin

by Taylor Williams December 17, 2021

AUSTIN, TEXAS — Newmark has brokered the sale of Nexus East, a 352-unit apartment community in East Austin. Built in 2021, the property offers a mix of one-, two- and three-bedroom units. The amenity package consists of a pool, fitness center, clubhouse, entertainment kitchen, coworking lounge, putting green and a dog park. Patton Jones and Andrew Dickson of Newmark represented the seller, a partnership between Austin-based Ardent Residential and Monterrey, Mexico-based Delta Development, in the transaction. Timothy Weldon of Newmark arranged acquisition financing on behalf of the buyer, an affiliate of Treeline Multifamily Partners Ltd., a privately held investment firm based in Denver. Nexus East was 90 percent occupied at the time of sale.

December 17, 2021

Acquisitions California Multifamily Western

Gemdale USA Divests of Blake at Berkeley Apartment Community in Bay Area for $66M

by Amy Works December 17, 2021

BERKELEY, CALIF. — Gemdale USA has completed the sale of Blake at Berkeley, a multifamily property located at 2033 Blake St. in Berkeley. An undisclosed buyer acquired the community for $66 million, or $785,700 per unit. Completed in December 2021, Blake at Berkeley features 32 studio, 34 one-bedroom, 16 two-bedroom and two live-work units. Community amenities include a central courtyard, a roof deck with 360-degree views, two large common-area patios, coworking spaces and garage parking. Jason Parr, Scott MacDonald, John Hansen, Michael Bissada and Sydney Ladrech of Cushman & Wakefield’s Multifamily Advisory Group represented the seller in the transaction.

December 17, 2021

Acquisitions Georgia Industrial Southeast

NAI Brannen Goddard Arranges Sale of 400,000 SF Industrial Property in Savannah

by Julia Sanders December 16, 2021

SAVANNAH, GA. — NAI Brannen Goddard has arranged the sale of 6030 Commerce Blvd., a 400,000-square-foot distribution center in Savannah. Joseph Mullican of NAI Brannen Goddard represented the buyer, New York-based Brookfield Properties. The seller and sales price were not disclosed. The 6030 Commerce Blvd. distribution building is located less than two miles from the Port of Savannah and has access to Interstate 95. The front-load building features 28- to 30-foot clear heights, 31 dock-high doors, 70 extra trailer spaces, 180-foot concrete truck courts, ESFR sprinklers and a recently constructed loading platform.

December 16, 2021

Acquisitions Colorado Industrial Western

Realterm Logistics Acquires E-Commerce Distribution Facility in North Denver for $94.8M

by Amy Works December 16, 2021

BROOMFIELD, COLO. — Annapolis, Md.-based Realterm Logistics has purchased a warehouse and distribution building, located at 400 W. 160th Ave. in Broomfield. Colorado-based McWhinney sold the asset for $94.8 million. Built in fourth-quarter 2021, Amazon occupies the 200,864-square-foot facility. The property features 36-foot clear heights, heating throughout, ESFR sprinklers, ample power, energy-efficient lighting, multiple points of ingress and egress and a concrete truck court apron. Additionally, the property offers a flexible office layout, four entrances/exits, ample outdoor amenity space and extensive landscaping. Will Strong, Jeff Chiate, Kirk Kuller, Mike Adey, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield represented the seller. Alec Rhodes and Aaron Valdez of Cushman & Wakefield provided local market leasing advisory.

December 16, 2021

Acquisitions Illinois Midwest Office

JLL Brokers $21.7M Sale of Oakmont Point Office Building in Westmont, Illinois

by Kristin Harlow December 16, 2021

WESTMONT, ILL. — JLL Capital Markets has brokered the sale of Oakmont Point in the western Chicago suburb of Westmont for $21.7 million. The Class A office building spans 92,553 square feet and rises three stories. Completed in 2019, Oakmont Point is 91 percent leased to two tenants, JLL and Ryan Cos. US Inc. Sam DiFrancesca, Patrick Shields, Jaime Fink, Jeffrey Bramson and Bruce Miller of JLL represented the seller, Ryan Cos. Sidra Capital, which previously owned the property in a joint venture partnership with Ryan Cos., was the buyer. Lucas Borges, Claudio Sgobba and Christopher Carroll of JLL arranged a 10-year, fixed-rate acquisition loan through a multinational investment bank.

December 16, 2021

Acquisitions Colorado Multifamily Western

Evergreen DevCo Sells Outlook Clear Creek Apartments in Wheat Ridge, Colorado for $142M

by Amy Works December 15, 2021

WHEAT RIDGE, COLO. — Evergreen DevCo has completed the disposition of Outlook Clear Creek Apartments, a multifamily community at 4040 Clear Creek Drive in Wheat Ridge. Seagate Colorado Partners acquired the asset for $142 million. Built in 2021, Outlook Clear Creek features 310 apartments in a mix of one- and two-bedroom layouts spread across an array of two- and four-story buildings. Units feature picket backsplashes in the kitchen, deep farm undermount sinks, spacious closets and walk-in showers. The community is situated on 12.5 acres within the 110-acre Clear Creek Crossing mixed-use development. The live-work-play community is anchored by the SCL Health Lutheran Medical Campus, which is slated for completion in 2024. Dave Martin and Brian Mooney of NorthMarq’s Denver-based investment sales team represented the seller in the transaction.

December 15, 2021

Acquisitions Illinois Midwest Retail

Cooper Group Brokers $8.1M Sale of Centennial Plaza Retail Center in Lemont, Illinois

by Kristin Harlow December 15, 2021

LEMONT, ILL. — The Cooper Commercial Investment Group has brokered the sale of Centennial Plaza in the Chicago suburb of Lemont for $8.1 million. Jewel-Osco shadow-anchors the 38,500-square-foot retail center, which was 97 percent leased at the time of sale. Bob Havasi and Dan Cooper of Cooper Group represented the seller, a New Jersey-based private investment group. A California-based private group was the buyer. The asset traded at a cap rate of 7.4 percent.

December 15, 2021

Acquisitions Multifamily New York Northeast

JLL Brokers Sale of 214-Unit Apartment Community in Massapequa, New York

by Taylor Williams December 15, 2021

MASSAPEQUA, N.Y. — JLL has brokered the sale of Southpoint at Massapequa, a 214-unit apartment community on Long Island. Southpoint at Massapequa houses one-, two- and three-bedroom units that average 987 square feet. Select units feature stainless steel appliances, granite countertops, newly renovated kitchens and bathrooms and private balconies/patios. Amenities include a pool, fitness center, bark park and outdoor grilling stations. Steve Simonelli, Jose Cruz, Michael Oliver, Kevin O’Hearn, Andrew Scandalios and Josh Stein of JLL represented the seller, JRK Property Holdings, in the transaction. Fairfield Properties purchased the community for an undisclosed price. Thomas Didio, Jr., Gerard Quinn and Salvatore Buzzerio, also with JLL, arranged $77.3 million in Freddie Mac acquisition financing for the deal. The loan was structured with a fixed interest rate and a 15-year term.

December 15, 2021

Acquisitions Retail Texas

JLL Brokers Sale of 227,041 SF South Frisco Village Retail Power Center

by Taylor Williams December 14, 2021

FRISCO, TEXAS — JLL has brokered the sale of South Frisco Village, a 227,041-square-foot retail power center located on the northern outskirts of Dallas. Built in 2001, the property was 92 percent leased at the time of sale to tenants such as Bed Bath & Beyond, Jo-Ann Fabrics, buybuy Baby and Painted Tree Marketplace. Ryan Shore, Chris Gerard, Barry Brown and Jack Copher of JLL represented the seller, Illinois-based InvenTrust Properties, in the transaction. Vista Property Co. purchased the asset for an undisclosed price.

December 14, 2021

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