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Stream Brokers Sale of 265,877 SF Distribution Center in Metro Dallas

by Taylor Williams March 30, 2018

GRAND PRAIRIE, TEXAS — Stream Realty Partners has brokered the sale of a 265,877-square-foot distribution center located at 3100 State Highway 161 in the Dallas metro of Grand Prairie. Built in 2015, the property is located within Trinity 161 Trade Center and offers convenient access to Interstate 30. Building features include 27-foot clear heights, 46 dock-high doors, an ESFR sprinkler system and 390 car parking spaces. Cannon Green and Sarah Ozanne of Stream Realty Partners represented the buyer, Colony Industrial, a division of Los Angeles-based REIT Colony Northstar. The seller was Soho Somervell Trinity LP.

March 30, 2018

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $9M Sale of Apartment Building in Chicago’s Uptown Neighborhood

by Kristin Harlow March 30, 2018

CHICAGO — Kiser Group has brokered the $9 million sale of The Maynard in Chicago’s Uptown neighborhood. The 74-unit apartment building is located at 4875 N. Magnolia Ave. Originally built in 1925, the property features primarily micro-unit studios, some as small as 218 square feet. Rick Ofman and Lee Kiser of Kiser Group brokered the transaction. Becovic Management purchased the asset from CLK Properties.

March 30, 2018

Acquisitions Colorado Industrial Western

BKM Enters Denver Market with $20.2M Purchase of 215,000 SF Industrial Park

by Amy Works March 30, 2018

ENGLEWOOD, COLO. — BKM Capital Partners has entered the Denver market with the purchase of Inverness Business Park, located at 14 Inverness Drive East in Englewood. A private family office sold the property for $20.2 million. The eight-building asset features 215,268 square feet of Class A industrial space. At the time of acquisition, the park was 91 percent occupied by 86 tenants averaging approximately 2,750 square feet each. BKM plans to invest $2 million in upgrades to the asset, including a complete rebrand as well as fresh paint, upgraded landscaping, cosmetic upgrades to the lobby and signage, and various structural improvements. Newmark Knight Frank represented the seller in the transaction.

March 30, 2018

Acquisitions Georgia Multifamily Property Type Southeast

Greystone Brown Brokers $58.3M Sale of Apartment Community in Metro Atlanta’s Vinings District

by Camren Skelton March 30, 2018

VININGS, GA. — Greystone Brown Real Estate Advisors has arranged the $58.3 million sale of Stone Ridge at Vinings, a 440-unit apartment community in Vinings, roughly 11 miles north of downtown Atlanta. Barden Brown, Cory Sams, Taylor Brown, Chandler Brown and Bo Brown of Greystone Brown arranged the transaction on behalf of both the seller, Florida-based Ventron Management LLC, and the buyer, New York-based Broadtree Residential. Stone Ridge at Vinings features a fitness center, pool, playground, tennis court and hiking and biking trails. Greystone Brown Real Estate Advisors is a joint venture formed in 2016 between Greystone and Brown Realty Advisors.

March 30, 2018

Acquisitions Massachusetts Multifamily Northeast

Colliers Brokers Sale of 185-Unit Apartment Portfolio in Suburban Boston for $45.2M

by David Cohen March 29, 2018

WAKEFIELD AND ACTON, MASS. — Colliers International has brokered the $45.2 million sale of a two-community, 185-unit apartment portfolio outside of Boston. The two apartment properties are located at 105-109 Hopkins St. in Wakefield and 117 Central St. in Acton. The properties offer close proximity to the MBTA commuter rail stations in Wakefield and Acton, respectively. Colliers represented both the buyer, OBP Partners, and the seller, True North Capital Partners, in the transaction.

March 29, 2018

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Acquisitions Hospitality Texas

HFF Negotiates Sale of 194-Room Hilton-Branded Hotel in Austin

by Taylor Williams March 29, 2018

AUSTIN, TEXAS — HFF has negotiated the sale of the 194-room DoubleTree by Hilton Hotel Austin Northwest Arboretum on Austin’s north side. The property is situated adjacent to two mixed-use developments, The Domain and The Arboretum, and features a 24-hour business center, outdoor pool and 6,600 square feet of meeting and event space. John Bourret, Austin Brooks and Daniel Peek of HFF represented the seller, Florida-based Driftwood Hospitality Management, in the transaction. San Diego-based Pinnacle Hotels USA purchased the property for an undisclosed price.

March 29, 2018

Acquisitions Multifamily North Carolina Property Type Southeast

FCP Acquires 574-Unit Multifamily Community in Charlotte for $60.8M

by Camren Skelton March 29, 2018

CHARLOTTE, N.C. — Federal Capital Partners (FCP) has acquired The Reserve at Providence, a 574-unit apartment community in Charlotte. The Charlotte Observer reports the Maryland-based firm acquired the property for $60.8 million. Marc Robinson of Cushman & Wakefield represented the undisclosed seller in the transaction, while Michael Ryan of Cushman & Wakefield provided debt advisory services to FCP. The Reserve at Providence includes a mix of one- to four-bedroom floor plans and features a clubhouse, playground, dog park, picnic area with grills, multi-sport court and three swimming pools. FCP plans to build a new clubhouse and convert the current facility into a fitness and amenity center. The company will invest in additional improvements to the buildings and amenity areas.

March 29, 2018

Acquisitions California Retail Western

Hanley Investment Negotiates Sales of Six Retail Pads in California for $29.5M

by Amy Works March 29, 2018

PERRIS, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sales of six retail pads at Perris Marketplace, located at 1820-2000 N. Perris Blvd., in separate transactions. The combined sales price for the six pads was approximately $29.5 million. The plaza is located in the Los Angeles suburb of Perris. The 100-percent occupied properties, which total 39,000 square feet, consist of three multi-tenant pad buildings and three single-tenant fast-food pad restaurants. Walmart Supercenter anchors the 225,000-square-foot shopping center. Additional tenants include America’s Best Contacts and Eyeglasses, Chipotle, Dickey’s BBQ, Great Clips, Jamba Juice, Jimmy John’s Gourmet Sandwiches, Pacific Dental, Panda Express, Pieology, Popeye’s, Sally Beauty, Starbucks Coffee, T-Mobile, Verizon Wireless, Waba Grill, Wendy’s and Yogurtland. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, Evergreen and Trachman Indevco, in the deal. The names of the buyers were not disclosed.

March 29, 2018

Acquisitions Healthcare Texas

Dallas County Approves $83M Sale of Former Parkland Memorial Campus to Dreien

by Taylor Williams March 28, 2018

DALLAS — Dallas County has approved the $83 million sale of the former Parkland Memorial medical campus in northwest Dallas to Dreien Opportunity Partners, according to the March 27 agenda from the county commissioners. Dreien is a development group headed by Dallas magnate Sam Ware that is also working to redevelop the Collin Creek Mall in Plano. The company is financing the acquisition in part by leasing 560 parking spaces currently used by Parkland employees. Plans for the redevelopment of the 38-acre campus, which was owned by Parkland, include condos, apartments and a hotel.

March 28, 2018

Acquisitions Massachusetts Multifamily Northeast

JLL Brokers Sale of 188-Unit Apartment Community in Suburban Boston for $53.6M

by David Cohen March 28, 2018

NORTON MASS. — JLL Capital Markets has brokered the sale of East Main Apartments in Norton for $53.6 million. Campanelli Construction built the 188-unit multifamily community in 2017. Michael Coyne, Travis D’Amato, Kevin Gleason and Brendan Shields of JLL arranged the sale on behalf of Campanelli and Thorndike Development. The buyer was Jones St. Investment Partners. Amenities at the Class A apartment community include a swimming pool, outdoor kitchen with grills, fitness center and an expansive clubhouse. The property is located 40 miles south of Boston.

March 28, 2018

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