MANSFIELD, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Audrey, a 211-unit apartment complex in Mansfield, a southern suburb of Fort Worth. Built in 2021, the property offers one- and two-bedroom units with an average size of 923 square feet. Amenities include a pool, fitness center, business center, clubhouse and outdoor grilling and dining stations. Joey Tumminello, Taylor Hill, Michael Ware, Jeff Kindorf and Will Balthrope of IPA represented the seller, a partnership between Carleton Cos. and M.R. Development, in the transaction. The team also procured the buyer, a partnership between RPM and a fund managed by Roseview Investment Advisors.
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DESOTO, TEXAS — JLL has negotiated the sale of the 489,310-square-foot Building 5 at Southfield Park 35 in DeSoto, a southern suburb of Dallas. Delivered in fall 2022, the building sits on 33.9 acres and features 40-foot clear heights, 185-foot truck court depths, 117 dock doors and parking for 144 trailers (expandable to 194). A partnership between Atlanta-based Seefried Properties and Affinius Capital developed and sold the property to an undisclosed buyer. Trent Agnew, Tom Weber, Pauli Kerr, Parker McCormack, Matthew Barge and Keenan Ryan of JLL brokered the deal.
BOSTON — Newmark has brokered the $11 million sale of a 73,000-square-foot office building located at 186 Lincoln St. in downtown Boston. The nine-story building recently underwent $5 million in capital improvements and was roughly 50 percent leased at the time of sale. Tenants include CozyKin, SmartSense by Digi, Full Contact Advertising and Mightier. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and Joseph Alvarado of Newmark represented the undisclosed seller in the transaction and procured the buyer, locally based investment firm City Realty Group.
SAN ANTONIO — Greysteel has brokered the sale of Park at Rialto, a 274-unit apartment community located on the northwest side of San Antonio. Built in 2017, Park at Rialto is a garden-style community that offers a pool, media lounge and a fitness center. Units come in studio, one-, two- and three-bedroom units, according to Apartments.com. J.R. Ellis and Matthew Romanchuk of Greysteel negotiated the sale on behalf of the buyer and seller, both of which requested anonymity.
SAN ANTONIO — California-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of a 211,000-square-foot warehouse in San Antonio. The building is located on the city’s west side and was originally constructed on 23 acres in 1969 and renovated in 2021. Jeff Miller and Michael Kelleher of Matthews represented the buyer, Evergen Equity, which plans to implement a value-add program. The seller was not disclosed. The building was leased to Flasher Equipment at the time of sale.
DALLAS — Transwestern Real Estate Services (TRS) has negotiated the sale of Bellrock Bishop Arts Apartments, a 207-unit multifamily complex located on the southwestern outskirts of downtown Dallas. Built in 2012, the property offers amenities such as a pool, fitness center, dog park, outdoor grilling stations and grills, clubhouse and a social lounge. Units come in one- and two-bedroom floor plans, according to Apartments.com. Tyler Gauntt, Rye Hinkle, Chris Stutzman and Bryan McMurrey of TRS represented the buyer, The Paskin Group, in the transaction. The buyer executed the deal via a 1031 exchange and has since rebranded the property, which was 95 percent occupied at the time of sale.
LAWTON, OKLA. — Cushman & Wakefield has brokered the sale of Legend Park, a 360-unit apartment community in Lawton, located about 90 miles southwest of Oklahoma City. Built between 2010 and 2012, Legend Park offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, basketball court, dog park, business center, playground and outdoor grilling and dining areas. Martin Bynum, Craig Hey and Stephen Pestinger of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $28.2 million sale of a 75-unit multifamily building located at 69 E. 125th St. in East Harlem. Built in 2017 by Greystone Development, the 12-story building includes two commercial spaces and is subject to a 421a tax abatement through 2043. Victor Sozio, Shimon Shkury, Mark Anderson, Gabriel Elyaszadeh and Michael Tortorici of Ariel Property Advisors represented Greystone and the buyer, GO-RE Partners, in the transaction. JP Morgan Chase provided acquisition financing for the deal.
DALLAS — AMLI Residential has sold AMLI Design District, a 314-unit apartment community in Dallas. The property was built in 2013 and includes 26,830 square feet of retail space and 664 parking spaces. Units come in studio, one- and two-bedroom floor plans and are furnished with stainless steel appliances, quartz countertops, walk-in closets and individual washers and dryers. Amenities include a pool, fitness center, coffee bar, outdoor grilling and dining stations, multiple pet play areas, conference room and a skyline lounge. Roberto Casas of JLL represented AMLI Residential in the transaction. Melissa Quinn, Lee Weaver, Rob Rothaug, Cristian Sieman, Lauren Dow and Chris Grievous, also with JLL, provided an undisclosed amount of Freddie Mac acquisition financing to the buyer, international investment firm HASTA Capital. The sales price and financing amount were not disclosed.
MANSFIELD, TEXAS — High Street Logistics Properties has acquired Mansfield Urban Industrial Park, a three-building, 267,622-square-foot complex located on the southern outskirts of Fort Worth. Completed in summer 2022, the development was 89 percent leased at the time of sale to a tenant roster with a weighted average remaining lease term of 4.6 years. Building features include 18- to 28-foot clear heights, ESFR sprinkler systems and speculative office space. Dustin Volz, Stephen Bailey, Dom Espinosa and Zach Riebe of Newmark represented the seller, Dallas-based developer Longbow Interests, in the transaction.