sale1

Thorofare Capital Funds $23.8M Acquisition Loan for Mixed-Use Portfolio in Beverly Hills

by Amy Works March 26, 2020

BEVERLY HILLS, CALIF. — Thorofare Capital has provided a $23.8 million loan for the acquisition of a mixed-use portfolio in Beverly Hills. Marc Schillinger and Eric Boucher of JLL advised the undisclosed borrower in the financing transaction. The acquisition includes two properties. The first is 415 North Camden Drive, a 17,936-square-foot building offering retail, medical and office space in the Beverly Hills Golden Triangle district. The second is a 10,884-square-foot medical office building located at 152-160 S. Lasky Drive.

March 26, 2020

Acquisitions Office Texas

JLL Arranges Sale of 168,953 SF One Glen Lakes Office Building in North Dallas

by Taylor Williams March 26, 2020

DALLAS — JLL has arranged the sale of One Glen Lakes, a 168,953-square-foot office building in North Dallas. The 10-story, Class A building is located within walking distance of the Walnut Hill DART station and features a deli, convenience store and onsite banking services. Jack Crews of JLL represented the seller, a joint venture between Stockbridge and Cawley Partners, in the transaction. Jason Piering of JLL arranged a five-year, floating-rate acquisition loan on behalf of the buyer, ICM Asset Management.

March 26, 2020

Acquisitions Illinois Midwest Multifamily

Essex Arranges $6.7M Sale of Apartment Building in Chicago

by Kristin Harlow March 26, 2020

CHICAGO — Essex Realty Group Inc. has arranged the sale of 933 W. Belle Plaine Avenue, a 17-unit apartment building in Chicago’s Buena Park neighborhood, for $6.7 million. Constructed in 2017, the building features luxury units with secured keyless entry, private balconies, gourmet kitchens and in-unit washers and dryers. The property also includes a pet washing station, bike storage, 13-car garage and seven outdoor parking spaces. Doug Imber, Kate Varde and Clay Maxfield of Essex brokered the transaction. A local investor purchased the building from an undisclosed seller as part of 1031 tax-deferred exchange.

March 26, 2020

Acquisitions Illinois Midwest Retail

Colliers Negotiates $6.6M Sale of Retail Property in Chicago

by Kristin Harlow March 26, 2020

CHICAGO — Colliers International has negotiated the sale of 3101, a four-tenant retail property in Chicago’s Lakeview neighborhood, for $6.6 million. Anchored by CVS Pharmacy, the 23,000-square-foot property also features two restaurants, including Domino’s Pizza. Peter Block of Colliers represented the seller, Zimmerman Family Trust. Newcastle Properties purchased the asset.

March 26, 2020

Acquisitions Multifamily Texas

Realty Capital, BKE Capital Acquire 137-Unit Oak Lawn Heights Apartments in Dallas

by Taylor Williams March 25, 2020

DALLAS — A joint venture between locally based investment firm Realty Capital Partners LLC and multifamily operator BKE Capital LLC has acquired Oak Lawn Heights, a 137-unit apartment community in Oak Lawn area of Dallas. The property offers one- and two-bedroom units and amenities such as a pool, dog park and a resident clubhouse. The new ownership will implement a multimillion-dollar renovation of the unit interiors, adding new appliances, countertops and washers and dryers, as well upgrading exterior spaces. The joint venture, which expects to complete the renovation project within two years, will also rebrand the community as The Maverick at Oak Lawn. The seller was Houston-based investment firm Barvin.

March 25, 2020

Acquisitions Industrial Northeast Pennsylvania Self-Storage

JLL Arranges Sale of 3,596-Unit Self-Storage Portfolio in New York City, Boston

by Alex Patton March 25, 2020

NEW YORK CITY AND BOSTON — JLL has arranged the sale of three-property self-storage portfolio totaling 3,596 units. The facilities are located in the greater New York City and Boston areas. The assets were all constructed in 2018 or 2019 and are located at 5002 2nd Ave. in Brooklyn; 479 5th Ave. in New Rochelle; and 490 Eastern Ave. in metro Boston. Steve Mellon, Brian Somoza, Andrew Scandalios and Coleman Benedict of JLL represented the sellers, affiliates of Banner Real Estate Group. The team also procured the buyer, an affiliate of California-based REIT Public Storage.

March 25, 2020

Acquisitions California Retail Western

SRS Real Estate Partners Negotiates $5.3M Sale of Harbor Pacific Court Retail Center in Costa Mesa

by Amy Works March 25, 2020

COSTA MESA, CALIF. — SRS Real Estate Partners has arranged the sale of the Harbor Pacific Court, a multi-tenant retail center located in Costa Mesa. A Los Angeles-based private investor sold the property to an Orange County, Calif.-based private investor for $5.3 million, or $454.50 per square foot, in an all-cash transaction. Located at 2346 Newport Blvd., the property features 11,771 square feet of retail space. At the time of sale, the property was 91 percent occupied by eight tenants, including Circle K as the anchor. Michael Walseth of SRS’ National Net Lease Group represented the seller and buyer in the deal.

March 25, 2020

Acquisitions Midwest Minnesota Multifamily

JLL Arranges Sale of 88-Unit Multifamily Building in Downtown St. Paul

by Kristin Harlow March 25, 2020

ST. PAUL, MINN. — JLL Capital Markets has arranged the sale of Rayette Lofts in downtown St. Paul’s Lowertown neighborhood for an undisclosed price. Originally constructed in 1909 and converted to multifamily space in 2014, Rayette Lofts features 88 units and more than 2,500 square feet of ground-floor retail space. Amenities at the seven-story building include a community room, fitness center, spin studio, rooftop deck and outdoor kitchen. The residential portion of the property was 96 percent occupied at the time of sale. The retail portion is fully leased to Saint Dinette, an American restaurant. Mox Gunderson, Dan Linnell, Josh Talberg and Adam Haydon of JLL represented the seller, Sherman Associates. JLL also procured the undisclosed buyer. The building first housed a millinery business before serving as the home of women’s hair product company Rayette. Prior to conversion into apartments, the building served as a parking garage.

March 25, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 274-Unit Copper Creek Apartments in Fort Worth

by Taylor Williams March 24, 2020

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Copper Creek, a 274-unit multifamily property in Fort Worth. The community was built on 12.4 acres in 1986 and was renovated in 2013 and 2017. Amenities include a pool, soccer field and a playground. Al Silva of Marcus & Millichap represented the seller, Florida-based DIJ Properties, in the transaction. Silva also procured the buyer, a Texas-based private investment firm.

March 24, 2020

Acquisitions Kansas Midwest Multifamily

NorthMarq Arranges Sales of Two Apartment Communities in Lawrence, Kansas

by Kristin Harlow March 24, 2020

LAWRENCE, KAN. — NorthMarq has arranged the sale and financing of both Country Club on the 6th and Eagle Ridge Apartments in Lawrence. The combined $25 million in volume represents the buyer’s first acquisitions in the collegiate town, which is situated just outside of Kansas City and home of the University of Kansas. Country Club on the 6th features 254 units while Eagle Ridge is home to 148 units. Jeff Lamott and Gabe Tovar of NorthMarq represented the sellers on both transactions. Brett Hood of NorthMarq arranged acquisition financing through Freddie Mac on behalf of the buyer.

March 24, 2020

Newer Posts

Older Posts

Upcoming Events

Aug
06