ARLINGTON, TEXAS — Dallas-based Darwin German Real Estate Investments has sold Brookside Apartments, a 288-unit multifamily community in Arlington. According to Apartments.com, the property was built in 1983 and offers one- and two-bedroom units ranging in size from 650 to 990 square feet. Amenities include a pool, clubhouse, business center, fitness center, a playground and outdoor grilling stations. The buyer and sales price were not disclosed.
CHEVY CHASE, MD. — FCP, a Chevy Chase, Md.-based real estate investment firm, has purchased three metro Atlanta apartment communities for $116 million. The three properties are Springdale Glen, Sierra Forest and Hawthorne at Sugarloaf apartment communities in Clarkston, Mableton and Lawrenceville, respectively. Shelton McNally Real Estate Partners was the seller for Springdale Glen apartments and MSC Investments was the seller for Sierra Forest. The seller for Hawthorne at Sugarloaf was not disclosed. Built in 1973, Springdale Glen features 276 one-, two- and three-bedroom units. Located at 3800 Brockett Trail in Clarkston, the garden-style and workforce community is located about 2.9 miles from Interstate 285. Community amenities include a pool, playground and a dog park. The property was about 92 percent occupied at the time of sale. Located at 6660 Mableton Parkway SE in Mableton, Sierra Forest includes 272 one-, two- and three-bedroom apartments just off Interstate 20. Built in 1973, the workforce housing property is situated close to the Fulton Industrial Corridor and is 12.6 miles from downtown Atlanta. Community amenities include a grilling area, playground and a property manager onsite. The property was roughly 91 percent occupied at the time of sale. Built in 2007, Hawthorne at Sugarloaf …
AUSTIN, TEXAS — Cushman & Wakefield has brokered the sale of Wilder, a newly built, 381-unit apartment community in South Austin. Wilder features one- and two-bedroom units and amenities such as a pool with a lounge area, two dog parks with a pet washing station, fitness center with a private training room, gazebo will grilling stations, outdoor yoga space and a bowling alley. John Carr and Ben Fuller of Cushman & Wakefield represented the sellers, Hudgins Cos. and Maverick Development Group, in the transaction. Chicago-based Redwood Capital Group, in partnership with Pacific Life, acquired the asset for an undisclosed price.
SCOTTSDALE, ARIZ. — A joint venture between Bascom Arizona Ventures and Pacific Life Insurance has completed the disposition of Ascend at Kierland and Elite North Scottsdale in Scottsdale. The Ezralow Co. acquired the assets for $312.5 million. Built in 1996 and 1998, the 364-unit Ascend at Kierland and the 360-unit Elite North Scottsdale are surrounded on three sides by the Westin Kierland Resort golf course. Unit interiors feature luxury finishes, including quartz countertops, new cabinets, kitchen backsplashes, undermount sinks, vinyl plank flooring, upgraded lighting and plumbing fixtures, tub-to-ceiling tile surround in master bath, ceiling fans, new baseboards, two-tone paint, new blinds and crown molding in the living and dining areas. The communities offer fitness centers with separate spin and yoga rooms, renovated resident clubhouses and heated swimming pools. Ascend at Kierland also features a putting green, dog park and electric car charging station, while Elite North Scottsdale features a new swimming pool, dog park and package locker system. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix Multifamily Institutional Properties represented the seller in the deal.
CHICAGO — Sterling Bay and institutional investors advised by J.P. Morgan Global Alternatives have sold 210 N. Carpenter, a 206,315-square-foot office and retail building in Chicago’s Fulton Market neighborhood. The sales price was $169 million. Google occupies 132,000 square feet to house its Chicago-based cloud division. Other tenants at the fully leased property include Leopardo Cos., rEvolution Marketing, S2G Ventures, CVS Pharmacy and uncooked. Completed in 2019, the 12-story building is LEED Gold certified and WELL Health Safety certified. Amenities include a rooftop pool, tenant lounge, fitness center, yoga room, conference facilities and onsite parking. Sterling Bay was the developer, Solomon Cordwell Buenz was the architect, IA Interior Architects was the interior designer and Leopardo Cos. was the general contractor. Tom Sitz, David Knapp, Cody Hundertmark, Dan Deuter and Paul Lundstedt of Cushman & Wakefield marketed the property for sale and procured the buyer, German investment firm Deka Immobilien.
SOUTH BEND, IND. — Strawberry Fields, a South Bend-based owner of long-term acute care hospitals, skilled nursing and assisted living facilities, has acquired six skilled nursing facilities located in Kentucky and Tennessee for $81 million. The properties include: • Landmark of Kuttawa, a 65-bed skilled nursing facility located at 1253 Lake Barkley Drive in Kuttawa, Ky., that was built in 1968. • Agape Rehabilitation & Nursing Center, an 84-bed skilled nursing facility located at 505 North Roan St. in Johnson City, Tenn., that was built in 2005. • Waters of Sweetwater, a 90-bed rehabilitation and nursing center located at 978 Highway 11S in Sweetwater, Tenn., that was built in 1966. • Waters of McKenzie, a 72-bed rehabilitation and nursing center located at 14510 Highway 79 in McKenzie, Tenn. • Waters of Memphis, a 90-bed rehabilitation and nursing center located at 6500 Kirby Gate Blvd. in Memphis, was built in 2015. • Waters of Bristol, a 120-bed rehabilitation and nursing center located at 2830 Highway 394 in Bristol, Tenn., was constructed in 2017. Some of the facilities offers physical, speech and occupational therapies for short-term rehab clients as well as long-term care residents. These facilities also feature a Department of Nursing, …
SPRING, TEXAS — A partnership between Austin-based Sunrise Capital, Plano-based Zane Holdings and Goodegg Investments has acquired Royal Spring, a 351-unit multifamily property located on the northern outskirts of Houston. Delivered earlier this year, Royal Spring’s units feature an average size of 1,007 square feet and are furnished with stainless steel appliances, granite countertops, custom cabinetry and wood-vinyl plank flooring. Amenities include a pool, clubhouse and lounge, fitness center, outdoor yoga space and a dog park. Rents start at approximately $1,200 per month for a one-bedroom unit.
DENVER — A joint venture between Karis Capital and AEW has completed the disposition of a newly developed, Class A warehouse and distribution building in downtown Denver. A national real estate investment, development and management firm acquired the asset for $114 million. Located at 875 W. 64th St., the property features 147,000 square feet of industrial space and immediate access to interstates 25, 70 and 76 and the US 36 freeway. The property is fully leased to a global Fortune 100 company. Will Strong, Jeff Chiate, Jeffrey Cole, Mike Adey, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the deal. Cushman & Wakefield’s Matt Trone, Steve Hager, Drew McManus, Ryan Searle and Joey Trinkle provided market leasing advisory.
CHICAGO — Kiser Group has arranged the sale of a 188-unit multifamily property located at 5815 N. Sheridan Road in Chicago for $43 million. Lee Kiser of Kiser represented both the buyer, TLC Management, and the seller, Greenstone Property Group. The property last sold in 2018 for $27.2 million. Greenstone completed a condo deconversion at that time and renovated 70 percent of the units, which range in size from 515 to 780 square feet. TLC plans to continue updating units and add more amenities. The property fronts Lake Michigan and features private beach access.
PENNSAUKEN, N.J. — Brooklyn-based restaurant supplies distributor BakeDeco/Kerekes has purchased a 71,280-square-foot warehouse located at 6950 Sherman Lane in Pennsauken, located outside of Philadelphia. Ian Richman and Marc Isdaner of Colliers International represented the buyer in the transaction. The buyer will also occupy the building, which features a clear height of 24 feet and nine loading docks. Marc Policarpo of Westfield Real Estate represented the undisclosed seller.
