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Interra Realty Negotiates $5.9M Sale of Multifamily Portfolio in Chicago

by Kristin Harlow June 3, 2022

CHICAGO — Interra Realty has negotiated the sale of a five-building multifamily portfolio totaling 67 units in Chicago for $5.9 million. All the properties are situated in the city’s Washington Park neighborhood and were developed in the late 1890s to early 1900s. All have received updated kitchens and bathrooms. The portfolio was 92 percent leased at the time of sale. Ted Stratman, Brad Feldman and Jeremy Morton of Interra represented the seller, GR82B Properties LLC. The team also represented the undisclosed buyer.

June 3, 2022

Acquisitions Healthcare Midwest Wisconsin

CA Health & Science Trust Acquires Three-Story Medical Office Building Near Milwaukee

by Kristin Harlow June 2, 2022

WAUWATOSA, WIS. — CA Health & Science Trust Inc. (CAHST) has acquired the Mayfair Health Professional Building in Wauwatosa near Milwaukee. The purchase price was undisclosed. The three-story medical office building, which is situated near Mayfair Mall, is more than 90 percent leased to medical practices offering orthopedic, physical therapy, diagnostic imaging and other services. Gino Lollio and Travis Ives of Cushman & Wakefield’s healthcare capital markets team, along with Mike Keane at Cushman & Wakefield’s alliance partner, The Boerke Co. Inc., represented the seller, ICA Real Estate Advisors. Citadel Property Advisors assisted with the transaction. CAHST is a private REIT focused on the acquisition and development of medical office and life sciences facilities across the U.S.

June 2, 2022

Acquisitions Multifamily Utah Western

Watt Investment Partners, Walton Street Capital Sell 252-Unit Harvest Apartments in Salt Lake City

by Amy Works June 2, 2022

SALT LAKE CITY — Watt Investment Partners and Walton Street Capital have completed the disposition of Harvest Apartments, a multifamily property in downtown Salt Lake City. A joint venture between New York-based Cadre and Ethos Real Estate acquired the asset for an undisclosed price. Located at 580 North and 300 West, the five-story podium building features 252 residences, ranging from studio to two-bedroom units averaging 785 square feet. Units features kitchen islands, stainless steel appliances, quartz and black granite countertops, modern fixtures and balconies. Community amenities include a heated swimming pool, fitness center, top-level view lounge with outdoor space, multiple community gathering areas, bike storage and 12 fire pits throughout the common areas. Eli Mills and Patrick Bodnar of CBRE represented the sellers in the deal.

June 2, 2022

Acquisitions Multifamily Texas

Brixton Capital Acquires 300-Unit Royalton at Sunfield Apartments in Buda, Texas

by Taylor Williams June 2, 2022

BUDA, TEXAS — Southern California-based investment firm Brixton Capital has acquired Royalton at Sunfield, a 300-unit apartment community located in the southern Austin suburb of Buda. Built in 2021, the garden-style property comprises 14 three-story buildings. Amenities include a pool, dog park, office space, community kitchen, entertainment pavilion, tenant lounge and fitness center. Will Balthrope, Jordan Featherston, Kent Myers and Taylor Hill of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Dallas-based developer SWBC, in the transaction. Brixton Capital, which plans to implement minor upgrades to unit interiors, was self-represented.

June 2, 2022

Acquisitions District of Columbia Office Southeast

JBG Smith Sells 269,000 SF Office Building in Washington, D.C. to Commerz Real AG

by Amy Works June 2, 2022

WASHINGTON, D.C. — JBG Smith has completed the disposition of an office property located at 1900 N St. in Washington, D.C. German-based Commerz Real AG purchased the 269,000-square-foot asset for an undisclosed price. Designed by KPF architects, 1900 N features a triple-height lobby, superior window line and world-class amenity space. At the time of sale, the property was 82 percent leased to a mix of tenants, including Goodwin Proctor and Beverage & Diamond law firms, as well as CBRE’s Washington, D.C., office. Tommy Cleaver, Stuart Kenny and Dan Grimes of CBRE represented the seller in the transaction.

June 2, 2022

Acquisitions Multifamily Northeast Pennsylvania Student Housing

Rittenhouse Realty Brokers $23.5M Sale of Student Housing Community in Philadelphia

by Taylor Williams June 2, 2022

PHILADELPHIA — Rittenhouse Realty Advisors, a member of GREA, has brokered the $23.5 million sale of Diamond Green, a 350-bed student housing community located near Temple University in Philadelphia. Orens Brothers Real Estate developed the 92-unit property using modular construction. The community features six retail spaces on the ground floor and a 28-stall parking garage. Apex Student Living, a joint venture between Alexandra Capital and Axela Group, acquired the property.

June 2, 2022

Acquisitions District of Columbia Office Southeast

Newmark Arranges $228M Sale of Two-Building Office Complex in Washington, D.C.

by Amy Works June 1, 2022

WASHINGTON, D.C. — Newmark has arranged the sale of Universal North and South, two Class B office buildings encompassing an entire city block near Dupont Circle in downtown Washington, D.C. Bethesda, Md.-based JBG Smith sold the assets to Philadelphia-based Post Brothers for $228 million. Totaling 659,459 square feet, the two-building office complex is located at 1825 and 1875 Connecticut Ave. NW. Universal North is a 12-story, 368,071-square-foot, value-add property, which was 40 percent leased at the time. Universal South is a 10-story, 291,387-square-foot, cash-flowing asset that was 98 percent leased at the time of sale. The project can accommodate an additional 73,428 square feet. Jud Ryan and James Cassidy of Newmark represented the seller in the deal.

June 1, 2022

Trailhead-at-Chisholm-Trail-Ranch-Fort-Worth

Development Multifamily Texas

Titan Development, Aberg Property Break Ground on $63M Multifamily Project in Fort Worth

by Taylor Williams June 1, 2022

FORT WORTH, TEXAS — A partnership between Titan Development and Dallas-based investment firm Aberg Property Co. has broken ground on The Trailhead at Chisholm Trail Ranch, a $63 million multifamily project in Fort Worth. The 284-unit development will be situated within the 625-acre Chisholm Trail Ranch master-planned community. Units will be spread across seven buildings and will be available in studio, one-, two- and three-bedroom formats. Amenities will include a pool, dog park and a pickleball court. HEDK Architects is designing the project, and Links Construction LLC is the general contractor. Completion is slated for the first quarter of 2025.

June 1, 2022

Acquisitions Indiana Midwest Retail

JLL Brokers $18.5M Sale of Shopping Center in Suburban Indianapolis

by Kristin Harlow June 1, 2022

CRAWFORDSVILLE, IND. — JLL Capital Markets has brokered the $18.5 million sale of Crawfordsville Square, a 273,249-square-foot shopping center in the Indianapolis suburb of Crawfordsville. Kroger is the anchor tenant at the property, which is 95 percent leased. Other tenants include Dunham’s Sports, Burke’s Outlet, H&R Block, Shoe Sensation, Pet Supplies Plus and Burger King. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented the seller, Lamar Cos. Essential Growth Properties acquired the asset.

June 1, 2022

Acquisitions Arizona Healthcare Office Western

Talia Jevan Properties Sells Optum Center Office Building in Phoenix for $20M

by Amy Works June 1, 2022

PHOENIX — Vancouver, Canada-based Talia Jevan Properties has completed the sale of Optum Center, a Class A multi-tenant office and medical building located at 20414 N. 27th Ave. in Phoenix. Cleveland-based Woodside Health Development acquired the property for $20 million. Built in 2008, the 81,907-square-foot Optum Center also includes a five-and-a-half level parking garage. At the time of sale, the property was 94 percent leased. The building features an extensive glass curtain wall and ribbon windows. Eric Wichterman, Mike Coover, Alexandra Loye and Steve Lindley of Cushman & Wakefield represented the seller in the transaction.

June 1, 2022

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