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Publix Super Markets Acquires Osceola Village Shopping Center in Kissimmee, Florida for $36.1M

by John Nelson August 18, 2022

KISSIMMEE, FLA. — Lakeland, Fla.-based Publix Super Markets has purchased Osceola Village, a 121,445-square-foot shopping center located at 3040 Dyer Blvd. in Kissimmee, a suburb of Orlando. East Coast Acquisitions sold the Publix-anchored property for $36.1 million. Brad Peterson and Whitaker Leonhardt of JLL represented the seller in the transaction and procured the buyer. Built in 2008 and renovated in 2022, Osceola Village was fully leased at the time of sale to tenants including Metro Diner, Insight Credit Union, Orlando Health, DaVita Dialysis and Goodwill, which recently entered a new 15-year lease.

August 18, 2022

Acquisitions Multifamily Texas

Clarion Partners Acquires 369,310 SF Distribution Center in El Paso

by Taylor Williams August 18, 2022

EL PASO, TEXAS — A fund backed by New York-based investment firm Clarion Partners has acquired Rojas East Distribution Center, a 369,310-square-foot distribution center in El Paso. The two-building facility was built on 21.2 acres in 2021 and was fully leased at the time of sale. Building features include 28- to 32-foot clear heights, 56 dock doors, ESFR sprinkler systems and combined parking for 42 trailers and 292 cars. Dustin Volz led a JLL team that marketed the property on behalf of the seller and developer, Dallas-based Hunt Southwest.

August 18, 2022

Acquisitions Indiana Midwest Multifamily

Blue Vista Acquires 206-Unit Multifamily Property Near Purdue University

by Kristin Harlow August 18, 2022

WEST LAFAYETTE, IND. — Blue Vista Capital Management has acquired Wabash Landing Apartments in West Lafayette near Purdue University. The purchase price and seller were undisclosed. The property, which serves students, faculty and local professionals, features a mix of studio, one- and two-bedroom units. Amenities include a rooftop deck, fitness center, resident lounge, courtyard and study room. The property was fully leased as of July. Blue Vista’s affiliate student housing management company, PeakMade Real Estate, will manage the asset.

August 18, 2022

Acquisitions Arizona Multifamily Western

Northmarq Negotiates $44.5M Sale of Sonoma Valley Apartments in Apache Junction, Arizona

by Amy Works August 18, 2022

APACHE JUNCTION, ARIZ. — Scottsdale-based Sonoma Valley LLC has completed the sale of Sonoma Valley Apartments, located at 975 S. Royal Palm Road in Apache Junction. FSO Real Estate Services, a division of Phoenix-based FSO Capital Partners, acquired the property for $44.5 million. Built in 2001, the 176,000-square-foot community consists of 11 two-story residential buildings on 9.9 acres. The property features 88 two-bedroom/two-bath, 950-square-foot units and 88 three-bedroom/two-bath, 1,050-square-foot units. On-site amenities include a pool, hot tub, 24-hour fitness center, picnic areas, basketball court and playground. Trevor Koskovich, Jesse Hudson, Bill Hahn and Ryan Boyle of Northmarq’s Phoenix investment sales team brokered the transaction.

August 18, 2022

Acquisitions Midwest Multifamily Wisconsin

JLL Brokers Sale of 175-Unit Multifamily Property in Suburban Milwaukee

by Kristin Harlow August 17, 2022

BROWN DEER, WIS. — JLL Capital Markets has brokered the sale of Bevy Apartments in Brown Deer, a northern suburb of Milwaukee. The sales price was undisclosed. Built in 2020, the multifamily property features both apartments and townhomes. Units average 961 square feet and come in a variety of studio, one- two- and three-bedroom floor plans. Amenities include a fitness center, outdoor terrace, clubroom, dog park and underground parking. Wick Kirby, Amanda Friant, Jeremy Weinstock and Jaime Fink of JLL represented the seller, Fiduciary Real Estate Development Inc. JVM Realty Corp. was the buyer.

August 17, 2022

Acquisitions Arizona Office Western

CapRidge Partners Sells Scottsdale Forum Office Building in Arizona for $53.6M

by Amy Works August 17, 2022

SCOTTSDALE, ARIZ. — CapRidge Partners has completed the sale of Scottsdale Forum, a Class A office property located at 6263 N. Scottsdale Road in Scottsdale. Federal Realty Investment Trust acquired the asset for $53.6 million. Situated on 7.1 acres, Scottsdale Forum features 214,000 square feet of recently renovated office space. On-site amenities include an outdoor courtyard and gaming area, on-site deli, collaboration areas, tenant lounges, conference room and underground parking. Ben Geelan and Will Mast of JLL Capital Markets represented the seller in the transaction.

August 17, 2022

Acquisitions Multifamily Texas

Castle Lanterra Sells Two Multifamily Properties Totaling 570 Units in Corpus Christi

by Taylor Williams August 17, 2022

CORPUS CHRISTI, TEXAS — New York City-based investment firm Castle Lanterra has sold two multifamily properties totaling 570 units in Corpus Christi. Baypoint is a 350-unit waterfront community that was originally built in 1998 and offers boat parking, a dog park, pool, sports court and a fitness center. Azure is a 220-unit garden-style community that was originally built in 1997 and offers one-, two- and three-bedroom units, as well as a similar suite of Class A amenities. Castle Lanterra acquired the assets in 2018 and 2016, respectively, and implemented value-add programs. The buyer and sales price were not disclosed.

August 17, 2022

Acquisitions Multifamily Texas

37th Parallel Properties Buys 344-Unit Apartment Community in Fort Worth

by Taylor Williams August 16, 2022

FORT WORTH, TEXAS — Richmond, Va.-based investment firm 37th Parallel Properties has purchased Heights at Cityview, a 344-unit apartment community in Fort Worth. The property offers one-, two- and three-bedroom units with an average size of 984 square feet and amenities such as a pool, fitness center, clubhouse and a putting green. Taylor Hill of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the transaction. Cutt Ableson of Berkadia originated an undisclosed amount of floating-rate agency financing for the acquisition.

August 16, 2022

Acquisitions California Multifamily Western

SummerHill Sells 333-Unit Eleanor Multifamily Community in Milpitas, California for $193M

by Amy Works August 16, 2022

MILPITAS, CALIF. — SummerHill Apartment Communities has completed the sale of Eleanor, a multifamily property in the Silicon Valley city of Milpitas. MG Properties purchased the asset for $193 million, or $579,580 per unit. Completed in 2021, Eleanor features 333 apartments in one- and two-bedroom layouts, including penthouse units. The property is a five-minute walk from the Milpitas Transit Center, which offers BART and VTA Light Rail services. Philip Saglimbeni, Stanford Jones, Salvatore Saglimbeni and Alex Tartaglia of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

August 16, 2022

Acquisitions Midwest Multifamily Nebraska

Marcus & Millichap Negotiates $27.5M Sale of Multifamily Portfolio in Metro Omaha

by Kristin Harlow August 16, 2022

OMAHA, NEB. — Marcus & Millichap has negotiated the sale of a two-property multifamily portfolio in metro Omaha for $27.5 million. Built in 2000 and 2001, Northridge and Flatwater total 192 units. The communities are located 10 miles apart and feature a mix of one- and two-bedroom floor plans. Jason Hornik, Greg Parker and Kent Guerin of Marcus & Millichap represented the seller and buyer, neither of which were disclosed.

August 16, 2022

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