REBusinessOnline

ABS National Business Parks Purchases Gardens Plaza Mixed-Use Property in West Palm Beach for $30.6M

WEST PALM BEACH, FLA. — ABS National Business Parks has purchased Gardens Plaza, a mixed-use campus in West Palm Beach that comprises of a nine-story office tower, two-story medical office building and a development pad. The locally based developer, Stiles, sold the property for $30.5 million.Gardens Plaza is located on the south side of PGA Boulevard, adjacent to Gardens Mall and less than one mile east of Interstate 95. The property was 85 percent leased at the time of sale to a variety …

29th Street Capital Acquires 280-Unit Apartment Community in Overland Park, Kansas

OVERLAND PARK, KAN. — 29th Street Capital (29SC) has acquired 79 Metcalf Apartments in Overland Park for an undisclosed price. The purchase marks the firm’s first multifamily acquisition in the Kansas City metro area. Built in 1984, 79 Metcalf Apartments is a 280-unit, Class C community. 29SC plans to fully renovate all units, enhance amenities and install new exterior siding. Haven Residential, 29SC’s in-house property management service, will oversee management and leasing. The seller …

Barker Pacific Acquires 274,565 SF Bank of America Office Tower in Downtown Las Vegas

LAS VEGAS — Barker Pacific Group, in a joint venture with Positive investment Group, has purchased Bank of America Tower, an office complex located at 300 S. 4th St. in Las Vegas. The acquisition marks Barker Pacific’s entry into the Las Vegas market.The joint venture will rebrand the 274,565-square-foot building as Tower 300 and implement an upgrade program to the common areas.Terms of the acquisition were not released. Mike Tabeek, Larry Singer and Christopher Crooks of Newmark …

Kislak Arranges $55.3M Sale of Pinnacle Apartments in Fort Lee, New Jersey

FORT LEE, N.J. — The Kislak Co. Inc., a New Jersey-based brokerage firm, has arranged the $55.3 million sale of The Pinnacle, a 142-unit high-rise apartment building in the Northern New Jersey community of Fort Lee. Built in 2020, the 15-story building features studio, one-, two- and three-bedroom units. Scott Davidovic of Kislak represented the seller and developer, 69 Main Street Fort Lee Urban Renewal, in the transaction. Justin Lupo of Kislak procured the buyer, a joint venture between …

Kalterra Capital Sells 213-Unit Apartment Community in Waxahachie, Texas

WAXAHACHIE, TEXAS — Dallas-based Kalterra Capital Partners has sold Park Place, a 213-unit apartment community located on a 12-acre site in Waxahachie, about 30 miles south of Dallas. Park Place features one-, two- and three-bedroom units with private yards and attached garages, as well as a pool, fitness center, a dog park and courtyards. The seller and sales price were not disclosed. Kalterra Capital Partners plans to break ground on another multifamily and an active adult project in …

SRS Brokers $7M Sale of Shops at Surfside Center in Cape Coral, Florida

CAPE CORAL, FLA. — SRS Real Estate Partners’ Investment Properties Group has brokered the $7 million sale of Shops at Surfside Center, a 117,566-square-foot shopping center located in Cape Coral. The property is situated on 8.3 acres at 2342/2354 Surfside Blvd. at the intersection of Veterans Memorial Parkway.Built in 2007, architecture firm Cuhaci & Peterson designed the Shops at Surfside Center and Hawkins Construction built the property. The center was 100 percent leased at the …

Marcus & Millichap Brokers $9.4M Sale of Towne Square Retail Center in Port Orchard, Washington

PORT ORCHARD, WASH. — Marcus & Millichap has arranged the sale Towne Square Retail Center, a retail property located at 1700 S.E. Mile Hill Drive in Port Orchard, approximately 24 miles west of Seattle. A private investor sold the asset to an undisclosed buyer for $9.4 million.Grocery Outlet, Goodwill and Ace Hardware are anchor tenants at the 154,604-square-foot retail property, which also includes a two-story interior mall space with more than 100 tenants. The buyer plans to …

Vista Realty Partners Sells Marketplace Vista Apartments in Marietta, Georgia for $87M

MARIETTA, GA. — Vista Realty Partners has sold Marketplace Vista Apartments, a 298-unit luxury multifamily community in Marietta. The buyer, Ohio-based White Oak Partners, purchased the property for $87 million. White Oak Partners also has sold two apartment communities in metro Atlanta recently.The Marketplace Vista Apartments is the residential component of Marketplace at Terrell Mill, a mixed-use development that Eden Rock Real Estate Partners and Connolly Development are …

Greystone Brokers Sale of 303-Unit Villas at Wylie Apartments in Metro Dallas

WYLIE, TEXAS — Greystone has brokered the sale of Villas at Wylie, a 303-unit apartment community in Wylie, a northeastern suburb of Dallas. Alliance Residential originally developed the property in 2008. The community features one- and two-bedroom units and amenities such as a pool, game room and outdoor grilling areas. Zac Thomas and Sean Reynolds of Greystone represented the seller, Oregon-based Hayden Properties, and procured the buyer, Utah-based Lionel Partners. The sales price was not …

JLL Brokers $93.5M Sale of Affordable Housing Community in Bolingbrook, Illinois

BOLINGBROOK, ILL. — JLL Capital Markets has brokered the $93.5 million sale of Riverstone Apartments, a 789-unit affordable housing community in the southwest Chicago suburb of Bolingbrook. The property underwent a significant redevelopment between 2005 and 2007 using low-income housing tax credit equity. Amenities include a clubhouse, two outdoor pools, two fitness centers, volleyball and soccer courts, a media center, playground, business center and dog park. Doug Childers, Marty …

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