ARLINGTON, TEXAS — A joint venture between Southern California-based investment firm Magma Equities and a fund backed by Macquarie Asset Management has acquired Bardin Greene, a 285-unit apartment community in Arlington. Built in 2001, the property comprises 18 two-story buildings that house one-, two- and three-bedroom units on a 16-acre site. The amenity package consists of a pool, fitness center, business center, volleyball court, courtyard with a children’s play area, resident clubhouse and onsite laundry facilities. Brian Eisendrath of Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged acquisition financing for the deal through Los Angeles-based PCCP LLC. Moody National Cos. sold the asset off-market for an undisclosed price. The new ownership plans to implement a value-add program.
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BUDA, TEXAS — Texas-based private equity firm SPI Advisory has acquired The Bradford, a 264-unit apartment community located in the southern Austin suburb of Buda. Built in 2010 as Trails at Buda Ranch, the property offers one-, two- and three-bedroom units, according to Apartments.com. Amenities include a pool, fitness center and outdoor grilling and dining stations. Patton Jones of Newmark represented the undisclosed seller in the transaction. SPI Advisory will undertake a light capital improvement program at the property. Fritz Waldvogel of Colliers Mortgage originated an undisclosed amount of Fannie Mae acquisition financing for the deal.
SADDLE BROOK, N.J. — Atlanta-based hospitality brokerage firm Hodges Ward Elliott has negotiated the sale of Marriott Saddle Brook, a 241-room hotel in Northern New Jersey. The hotel opened in 1967 and offers an indoor pool, fitness center, 8,000 square feet of meeting and event space and an onsite restaurant and bar. B.J. Patel, Jay Morrow and Coby Campbell of Hodges Ward Elliott represented the undisclosed seller in the transaction. The buyer, which was also undisclosed, plans to implement a value-add program.
GLEN MILLS, PA. — Chicago-based investment firm Waterton has acquired The Point at Glen Mills, a 230-unit apartment community located on the western outskirts of Philadelphia. Built in 2016, the property comprises five four-story buildings on a 13.6-acre site. Units come in one- and two-bedroom floor plans, and amenities include a fitness center, leasing office, conference facility and a catering kitchen. Waterton plans to implement a value-add program and rebrand the property as Heights at Glen Mills. The seller and sales price were not disclosed.
DALLAS — A partnership between Orlando-based developer ZOM Living and Dallas-based investment firm Civitas Capital Group has sold Mezzo, a 378-unit apartment community in North Dallas. Completed last summer, the garden-style property consists of 13 buildings on a 15-acre site. Units come in one-, two- and three-bedroom formats and range in size from 700 to 1,560 square feet. Amenities include a pool, fitness center, lounge, coworking spaces, game room and a dog park. Harbor Group International purchased Mezzo, which was 85 percent occupied at the time of sale, for an undisclosed price.
IRVING, TEXAS — Capital Commercial Investments has acquired a 379,014-square-foot office building located at 5959 Las Colinas Blvd. in Irving. Capital Commercial also purchased the 290-acre campus on which the building is situated, which has the capacity for future expansion/development. Office amenities include a fitness center, cafeteria and multiple conference rooms. Michael Swaldi and Jonathan Carrier of JLL represented the undisclosed seller in the transaction. JLL has also been retained to manage the property and market it for lease.
CONCORD, MASS. — CBRE has arranged the sale of The Prescott at Concord, a 350-unit apartment community located on the northwestern outskirts of Boston. Built in 2012 by Mill Creek Residential, the property consists of 302 apartments and 48 townhomes that feature one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, dog park, playground, outdoor grilling stations and a resident lounge with an entertainment kitchen. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, an undisclosed institutional investment firm, in the transaction. The team also procured the buyer, BlackRock. The sales price was not disclosed.
CEDAR PARK, TEXAS — JLL has brokered the sale of Caliza, a 270-unit apartment community located in the northern Austin suburb of Cedar Park. Built in 2020, Caliza offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, custom cabinetry and private yards. Amenities include a pool, fitness center, outdoor pavilion and a clubhouse with a catering kitchen. Ryan McBride and Robert Arzola of JLL represented the seller, Internacional Realty, an investment firm with offices in Austin and San Antonio, in the transaction. Austin-based Virtus Real Estate Capital acquired the asset for an undisclosed price.
HOUSTON — Avison Young has arranged the sale of a 234,215-square-foot industrial building in northwest Houston. The building sits on a 15-acre site at 4414 Hollister Road and features 25-foot clear heights, 150-foot truck court depths, 25 dock-high doors, 155 car parking spaces and 2.5 acres for additional parking or outdoor storage. Drew Coupe and Dawson Smith of Avison Young represented the seller, Austin-based private equity firm Frontera Capital Partners, in the transaction. Nick Peterson of Transwestern represented the undisclosed buyer.
ARLINGTON AND GRAND PRAIRIE, TEXAS — Locally based development and investment firm M2G Ventures has sold a portfolio of three industrial buildings totaling approximately 445,000 square feet in the central part of the Dallas-Fort Worth metroplex. The portfolio spans a combined 27.6 acres. Two of the buildings totaling roughly 345,000 square feet are located in Grand Prairie, and the third building totals 100,129 square feet and is located in Arlington. The buyer was New York-based Mavik Capital Management. The portfolio was fully leased at the time of sale to tenants such as civil aviation firm CAE, Home Zone/Alpha Furniture and Rent-A-Wheel/Rent-A-Tire. Stephen Bailey, Dustin Volz, Dom Espinosa and Zach Riebe of JLL represented M2G Ventures in the deal.