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Centennial-Plaza-Meriden-Connecticut

MERIDEN, CONN. — Los Angeles-based investment firm DealPoint Merrill has acquired Centennial Plaza, a 158,000-square-foot retail power center in Meriden, located in the southern-central part of the state. The seller was not disclosed. Joe French and Kodi Traver of Marcus & Millichap brokered the deal in conjunction with David Frank of DealPoint Merrill. The new ownership plans to upgrade the 11-acre property with a $5.2 million renovation. John Krueger of Marcus & Millichap assisted in closing the deal as the broker of record.

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Level-Sixteenth-Apts-Phoenix-AZ

PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Level at Sixteenth, a mid-rise multifamily property in Phoenix’s urban core. An affiliate of Abacus Capital Group sold the asset to Sares Regis Group for $69.1 million, or $287,917 per unit. Converted from a retail center to a multifamily community in 2010, Level at Sixteenth features 240 apartments with nine-foot ceilings, private laundry areas and walk-in showers. The community also features a leasing office clubhouse with resident lounge, fireplace, demonstration kitchen, eight-foot multimedia video wall and billiards table. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal.

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IOWA CITY AND CEDAR RAPIDS, IOWA — JLL has arranged the sale of a 1.4 million-square-foot industrial portfolio in Iowa City and Cedar Rapids for $54 million. The Class B portfolio, currently 80 percent occupied, consists of five buildings that were constructed in the early 2000s. Three properties are in Iowa City at 2561, 2570 and 2610 Independence Road. The others are in Cedar Rapids at 5404 and 5507 Ely Road. Marcus Pitts, Justin Lossner, Michael Minard and Austin Hedstrom of JLL represented the seller, 2570 Independence LLC. JLL will continue to serve as leasing agent on behalf of the undisclosed buyer. The sale represents the largest industrial portfolio sale ever recorded in Iowa, according to JLL.

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Arrowhead-Executive-Center-Glendale-AZ

GLENDALE, ARIZ. — Cleveland, Ohio-based Woodside Health has purchased Arrowhead Executive Center, a multi-tenant office complex located at 17235 N. 75th Ave. in Glendale. Holualoa Cos. sold the asset for $18.2 million. Steve Lindley of Cushman & Wakefield represented the seller, while Bill Cook and Perry Gabuzzi of Plaza Cos. provided market leasing advisory. Situated on 11.9 acres, Arrowhead Executive Center features eight single-story buildings offering a total of 99,062 square feet of office space. The campus was constructed in 2000.

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The-Henry-Pomona-New-York

POMONA, N.Y. — An affiliate of Harbor Group International LLC (HGI) has purchased The Henry, a 169-unit luxury apartment community in Pomona, about 40 miles north of New York City, for $54 million. Built in 2001 and recently renovated, the property’s units feature stainless steel appliances, tile backsplashes and granite countertops. Amenities include a resident clubroom, pool and sundeck, billiards room, fitness center and basketball courts. Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Travis Langer of CBRE represented the seller, a joint venture between Spirit Investment Partners and The Bascom Group, in the transaction, and procured the affiliate of HGI as the buyer.

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COUNCIL BLUFFS, IOWA — Metro Crossing Shopping Center in Council Bluffs has sold for an undisclosed price. The property spans 309,811 square feet. It was 96 percent occupied at the time of sale by 57 tenants, including Dick’s Sporting Goods, PetSmart, Kohl’s, Hobby Lobby, Old Navy and TJ Maxx. Ember Grummons of Investors Realty represented the buyer, Bridge 33 Capital. CBRE represented the seller, a partnership between Walton Street Capital and Pine Tree Commercial.

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LOUISVILLE, KY., WINTER PARK, FLA., AND TOLDEO, OHIO — In a massive blockbuster deal for seniors housing, the seventh-largest operator of seniors housing in the United States (Atria Senior Living) will acquire the third-largest (Holiday Retirement), with the largest owner in the country (Welltower) buying up a large portfolio of the affected assets. Atria, a privately held seniors housing operator based in Louisville, has agreed to buy the operations business of Winter Park-based Holiday Retirement. Meanwhile, Toledo-based REIT Welltower (NYSE: WELL) will buy the 86 properties that Holiday owns and self-manages for slightly less than $1.6 billion. Holiday currently manages 240 communities in 43 states, largely in the independent living sector. The combined company will employ more than 19,000 staffers to serve over 45,000 residents. The new firm will manage 447 communities across 45 states and seven Canadian provinces. The newly combined entity will be the second-largest seniors housing operator in the country, behind only Brookdale Senior Living. After the transaction, Atria will manage more than 250 “nearly identical” communities and higher end properties such as the recently opened Atria Newport Beach in Southern California, as well as luxury urban properties that Atria is co-developing in a joint venture with …

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Residences-Westgate-Pasadena-CA

PASADENA, CALIF. — Waterford Property Co., in partnership with the California Statewide Communities Development Authority (CSCDA), has purchased Residences at Westgate and The Hudson in Pasadena for $335.1 million. The partnership acquired the 513 units to provide housing affordability as part of an innovative workforce housing finance program created in 2020 by CSCDA. Residence at Westgate, located at 31 S. DeLacey Ave., was purchased for $237 million, and The Hudson, located at 678 E. Walnut St., was acquired for $98.1 million. Joseph Smolen, Geoff Boler and Lee Redmond of Eastdil Secured represented both parties in the Residences at Westgate transaction. Blake Rogers, Hunter Combs, Alexandra Caniglia and Javier Rivera of Walker & Dunlop represented both parties for The Hudson’s sale. The Residences at Westgate, which was developed in 2015, features 340 apartments and 20,521 square feet of retail space. The Hudson, which was built in 2018, offers 173 apartments and 11,409 square feet of retail space. At the time of acquisition, both communities were approximately 96 percent occupied. Since January, Waterford and CSCDA have acquired six multifamily communities in Southern California, totaling 2,022 units of housing and more than $1 billion of acquisition value as part of the essential housing …

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98Fifty-Apartments-Dallas

DALLAS — New York City-based investment firm RockFarmer Properties has acquired 98Fifty and Apex, two adjacent multifamily properties in the Lake Highlands area of Dallas totaling 440 units. Both properties were built around 30 years ago, feature one- and two-bedroom units and offer amenities such as pools, playgrounds, outdoor grilling stations, resident clubhouses and dog parks. NorthMarq represented RockFarmer and the undisclosed seller in the off-market transaction and arranged acquisition financing on RockFarmer’s behalf. The new ownership plans to invest in capital improvements.

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360-Woodland-Ave.-Bloomfield

BLOOMFIELD AND WINDSOR, CONN. — A joint venture between Vision Real Estate Partners and a fund managed by Miami-based Rialto Capital Management has purchased the Bloomfield Logistics Portfolio, a collection of 18 industrial buildings totaling 566,000 square feet in Bloomfield and Windsor, Connecticut. The seller was Sponzo Properties. Kevin Welsh, Brian Schulz, Jason Emrani, Maria Betancourt and Art Ross of Newmark brokered the deal. Ari Schwartzbard, Cliff Welden and Tom Lubeck of Newmark arranged acquisition financing through an undisclosed institutional lender on behalf of the buyer. The portfolio was 100 percent leased at the time of sale.

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