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Ridgeline Capital Partners Acquires 10 Medical Office Buildings in DFW

by Taylor Williams May 11, 2020

DALLAS — Dallas-based Ridgeline Capital Partners has acquired 10 medical office buildings totaling 99,072 square feet throughout the Dallas-Fort Worth (DFW) metroplex. The seller and sales price were not disclosed, but Ridgeline raised $5.3 million in equity for the deal from sources on Oregon-based investment platform CrowdStreet. All buildings were fully leased at the time of sale, with dialysis provider U.S. Renal Care being the sole or primary tenant at each property. CIT Group Inc. arranged $21 million in acquisition financing on behalf of Ridgeline.

May 11, 2020

Acquisitions California Office Western

BPS Bioscience Purchases Office Building in San Diego for $8.5M

by Amy Works May 11, 2020

SAN DIEGO — BPS Bioscience has acquired an office property located in San Diego’s Sorrento Mesa submarket for $8.5 million. The seller was Canada-based Ledcor Group. Located at 6405 Mira Mesa Blvd., the 37,991-square-foot, two-story building was originally built in 1990. The buyer plans to occupy the majority of the building, while leasing back a portion of the building to the seller. Matt Pourcho, Anthony DeLorenzo, Doug Mack and Bryan Johnson of CBRE represented the seller, while an outside firm represented the buyer in the transaction.

May 11, 2020

Acquisitions Industrial Midwest Ohio Self-Storage

SkyView Advisors Brokers Sale of 478-Unit Self-Storage Facility in Copley, Ohio

by Kristin Harlow May 8, 2020

COPLEY, OHIO — SkyView Advisors has brokered the sale of a West Side Storage facility in Copley, about seven miles west of Akron. The sales price was undisclosed. The 478-unit self-storage facility spans 57,016 square feet. It sits on 12.4 acres at 1252 Mina Ave. Zack Urow and Ryan Clark of SkyView represented the undisclosed seller.

May 8, 2020

Acquisitions Illinois Midwest Multifamily

Kiser Group Arranges $3.5M Sale of Multifamily Portfolio in Chicago

by Kristin Harlow May 8, 2020

CHICAGO — Kiser Group has arranged the sale of a three-building multifamily portfolio in Chicago’s Portage Park neighborhood for $3.5 million. The portfolio spans 36 units and includes the following properties: 3905-11 N. Linder Ave.; 3514-18 N. Long Ave.; and 3816-24 N. Long Ave. Monthly rents for the properties average $950 for one-bedroom units and $1,200 for two-bedroom units. Rick Ofman of Kiser brokered the transaction. Drexel Properties purchased the portfolio from a longtime Chicago landlord.

May 8, 2020

Acquisitions Multifamily Texas

JLL Provides Loan for Refinancing of 264-Unit Apartment Community in North Dallas

by Taylor Williams May 8, 2020

DALLAS — JLL has provided a Freddie Mac loan for the refinancing of Advenir on Addison, a 264-unit apartment community in North Dallas. The property features one- and two-bedroom units averaging 923 square feet that are equipped with stainless steel appliances, granite countertops, walk-in closets and attached garages. Eric Tupler, Josh Simon and Andy Scott of JLL originated the seven-year, fixed-rate loan on behalf of the borrower, Florida-based multifamily investment firm Advenir.

May 8, 2020

Acquisitions Colorado Multifamily Western

Valhalla Holdings Sells Stone Mountain Apartment Homes in Colorado for $83M

by Amy Works May 8, 2020

NORTHGLENN, COLO. — Boulder, Colo.-based Valhalla Holdings has completed the disposition of Stone Mountain Apartment Homes, a 15-building multifamily community located at 11625 Community Center Drive in Northglenn. West Palm Beach, Fla.-based Priderock Capital Partners acquired the asset for $83 million. Built in 2001, the 282,948-square-foot property features 320 units in a mix of one- and two-bedroom layouts. Community amenities include a clubhouse; year-round heated pool and spa with a poolside kitchen; 24/7 fitness center; pet wash stations; bicycle repair station; community garden with free individual plots; electric vehicle charging stations; lit private garages with workshop space available; and a nine-hole putting garden. Dan Woodward, David Potarf and Matt Barnett of CBRE Capital Markets in Denver represented the seller in the transaction.

May 8, 2020

Acquisitions California Retail Western

CBRE Negotiates $27.7M Acquisition of Vons-Occupied Retail Asset in San Diego

by Amy Works May 7, 2020

SAN DIEGO — CBRE has arranged the purchase of a retail property located at 4145 30th St. in the North Park neighborhood of San Diego. A Los Angeles-based private investor acquired the building from a Texas-based investment firm for $27.7 million. Vons, a Fullerton, Calif.-based supermarket chain, occupies the 40,000-square-foot building on a lease that runs through June 2039. Gary Stache, Anthony DeLorenzo, Doug Mack and Bryan Johnson of CBRE represented the buyer, which was completing a 1031 exchange. The seller was self-represented in the off-market transaction.

May 7, 2020

Acquisitions Multifamily Texas

JLL Negotiates Sale of 252-Unit Apartment Community in Longview, Texas

by Taylor Williams May 7, 2020

LONGVIEW, TEXAS — JLL has negotiated the sale of Summer Lake, a 252-unit apartment community in Longview, about 100 miles east of Dallas. The property features one- and two-bedroom units averaging 852 square feet and amenities such as two pools, an outdoor grilling area, sports court, fishing lake and a dog park. Greg Toro and Steven Hahn Jr. of JLL represented the seller, Little Rock, Ark.-based BSR REIT, in the transaction. Mark Brandenburg and Chad Russell of JLL arranged acquisition financing on behalf of the buyer, Dallas-based Saxony Capital Management.

May 7, 2020

Acquisitions Illinois Industrial Midwest

Provender Partners Acquires Two Food Processing Facilities in Metro Chicago

by Kristin Harlow May 7, 2020

CHICAGO — Provender Partners has acquired two food processing facilities in metro Chicago. In the first transaction, Provender purchased a 141,000-square-foot facility located at 5420 St. Charles Road in Berkeley. Preferred Meals Inc., a provider of fresh and frozen prepared snacks and meals to schools, fully leases the property. Jonathan Wolfe and Jordan Shtulman of STREAM Capital Partners LLC brokered the $18 million sale-leaseback. In the second transaction, Provender acquired an 80,000-square-foot meat processing facility located at 525 W. Crossroads Parkway in Bolingbrook. It is currently available for lease. Provender maintains a portfolio of more than 5 million square feet of refrigerated real estate assets throughout the United States.

May 7, 2020

Acquisitions New York Northeast Office Retail

SL Green Sells Office, Retail Condominium in Manhattan for $168M

by Alex Patton May 6, 2020

NEW YORK CITY — SL Green Realty Corp. has sold 609 Fifth Avenue, an office and retail condominium in Manhattan, to an affiliate of the Reuben Brothers for $168 million. Beginning in 2018, SL Green undertook an extensive repositioning of the entire building, including vacating the previous tenants in the office condominium portion of the property and relocating the office lobby to increase the retail frontage on Fifth Avenue. Sports apparel brand PUMA has leased a 24,000-square-foot retail space at the building for its three-level flagship store. Luxury apparel retailer Vince has leased a 5,000-square-foot retail space in the building. Darcy Stacom, Doug Middleton and David Fowler of CBRE represented SL Green in the transaction.

May 6, 2020

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