Thursday, July 17, 2025
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AcquisitionsIllinoisMidwestRestaurantRetail

Baum Arranges $2.9M Sale of Chili’s-Occupied Property in Metro Chicago

by Kristin Harlow

HOMER GLEN, ILL. — Baum Realty Group LLC has arranged the $2.9 million sale of a single-tenant property net leased to Chili’s in Homer Glen, located about 30 miles southwest of Chicago. The property serves as an outlot to Home Depot and The Square at Gooding’s Grove, a new 13.5-acre mixed-use development that will feature 76 townhomes. Patrick Forkin of Baum represented the seller, a private out-of-state investor. A major real estate fund based in Miami purchased the asset. The lease is guaranteed by Brinker International, a casual dining restaurant company.

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AcquisitionsMixed-UseMultifamilyNew YorkNortheastTop Stories

SL Green Realty to Sell West Manhattan Mixed-Use Tower, Adjacent Development Site for $446.5M

by John Nelson

NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG) has entered into a contract to sell a 36-story mixed-use tower and an adjacent undeveloped parcel in Manhattan for $446.5 million. An affiliate of Brookfield Asset Management (NYSE: BAM) is the buying entity for the 492,987-square-foot building at 315 W. 33rd St. on the borough’s west side. Also known as The Olivia, the mixed-use tower features 333 residential units and 270,132 square feet of commercial space. The residential portion is 96 percent occupied, and the commercial space is fully leased to tenants including AMC Theatres, Music Choice and Landmark Education. The Olivia’s community amenities include a residents’ lounge, laundry room, onsite parking, fitness center, bicycle storage, resident app, valet services, 24-hour lobby and rooftop terrace. The property is near Madison Square Garden, the Hudson River and Penn Station. Darcy Stacom of CBRE represented SL Green Realty in the sale transaction, which is expected to close in the second quarter. No details were released about Brookfield’s plans for the parcel. “This sale is another example of SL Green’s commitment to strategically divest of non-core assets and accretively redeploy the capital into our ongoing share repurchase program,” says David Schonbraun, co-chief investment …

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AcquisitionsIndianaMidwestMultifamily

Muesing Management Acquires 400-Unit Apartment Community in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Muesing Management has acquired Waterside at Castleton, a 400-unit apartment community on the northeast side of Indianapolis. The purchase price was undisclosed. Built in 1983, the property is located at 8380 Whipporwill Drive. Steve LaMotte Jr. and Dane Wilson of CBRE represented the seller, Wilkinson Corp. and its partner BRT Apartments Corp.

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AcquisitionsIllinoisMidwestRetail

Mid-America Negotiates Sale of 177,165 SF Shopping Center in Oak Brook, Illinois

by Kristin Harlow

OAK BROOK, ILL. — Mid-America Real Estate Corp. has negotiated the sale of The Shops at Oak Brook Place in suburban Chicago for an undisclosed price. An institutional buyer purchased the 177,165-square-foot shopping center, which is located at the southeast corner of 22nd Street and Midwest Road. Anchor tenants include Nordstrom Rack, TJ Maxx, Ulta, Old Navy and Nike. Rick Drogosz and Joe Girardi of Mid-America represented the seller, a Canadian real estate investment trust.

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AcquisitionsIllinoisMidwestRetail

Interra Realty Arranges $3.7M Sale of Firestone-Occupied Property in Skokie, Illinois

by Kristin Harlow

SKOKIE, ILL. — Interra Realty has arranged the $3.7 million sale of a property occupied by Firestone Complete Auto Care in Skokie, about 15 miles north of Chicago. The property is located at 8801 Skokie Blvd. Paul Waterloo of Interra represented the private local buyer, which will assume an existing lease that has seven years remaining. Colin O’Malley of Interra represented the seller, a family trust that has owned the asset for more than 50 years. Built in 1950, the property features nine bays, 18 drive-in doors and a parking lot.

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AcquisitionsIllinoisMidwestRetail

Quantum Brokers $2.5M Sale of Retail Building in Libertyville, Illinois

by Kristin Harlow

LIBERTYVILLE, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of an 11,614-square-foot retail property in Libertyville for $2.5 million. The anchor tenant is real estate brokerage firm @Properties. The asset is located at 200-218 S. Milwaukee Ave. Chad Firsel of Quantum represented the seller, a local property owner. Jason Lenhoff of Quantum represented the buyer, a local real estate investment group.

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AcquisitionsMultifamilyTexas

Western Wealth Capital Buys 272-Unit Oak Grove Apartments in Houston

by Taylor Williams

HOUSTON — Canadian investment firm Western Wealth Capital has purchased Oak Grove Apartments, a 272-unit community in Houston. Built in 2004, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, playground and a dog park. Andy Hill and Tyler Nowlin of Berkadia arranged a three-year, adjustable-rate loan for the transaction on behalf of Western Wealth Capital. The loan includes proceeds for capital improvements.

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AcquisitionsMultifamilyNortheastPennsylvaniaSeniors Housing

Rittenhouse Sells Student Housing Portfolio in Philadelphia for $23.7M

by Alex Patton

PHILADELPHIA — Rittenhouse Realty Advisors has sold a nine-property student housing portfolio near Temple University in North Philadelphia for $23.7 million. The portfolio comprises 92 units totaling 253 beds. All of the properties in the portfolio were constructed within the last five years, and the majority are two- or three-bedroom units. At the time of sale, the portfolio was 100 percent occupied for the 2019 to 2020 school year. The buyer was undisclosed.

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AcquisitionsCaliforniaRetailWestern

SRS Real Estate Partners Negotiates $32M Sale of Santa Fe Springs Promenade in California

by Amy Works

SANTA FE SPRINGS, CALIF. — SRS Real Estate Partners has arranged the sale of Santa Fe Springs Promenade, a shopping center in Santa Fe Springs. An Orange County, Calif.-based private partnership sold the property to a Los Angeles-based private investor for $32 million. Situated on 8.2 acres at 11452-11568 Telegraph Road, the 111,925-square-foot shopping center was built in phases from 1953 to 1986. At the time of sale, Santa Fe Springs Promenade was 80 percent occupied by a variety of tenants, including 99 Cents Only, AutoZone, Bank of America, Starbucks Coffee and Jersey Mike’s Subs. Chris Tramontano and John Redfield of SRS’ Investment Properties Group, along with WindWater Real Estate, represented the seller. Tanel Harunzade of Kidder Mathews represented the 1031 exchange buyer.

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AcquisitionsMultifamilyTexas

Berkadia Arranges Sale of 152-Unit Brownstone Uvalde Apartments in South Texas

by Taylor Williams

UVALDE, TEXAS — Berkadia has arranged the sale of Brownstone Uvalde, a 152-unit apartment community located in the South Texas city of Uvalde. Built in 2012, the property features one-, two- and three-bedroom units with hardwood floors, walk-in closets, breakfast bars and private patios or balconies. Amenities include a pool, fitness center, business center, media lounge, clubhouse and dog park. Will Caruth and Cody Courtney of Berkadia represented the seller, Colorado-based Interurban Cos., in the transaction. The buyer was 3CM Multifamily.

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