sale1

Cushman & Wakefield Arranges $25M Sale of Shopping Center in Springfield, Virginia

by Julia Sanders March 22, 2022

SPRINGFIELD, VA. — Cushman & Wakefield has arranged the sale of Backlick Center, a 48,267-square-foot shopping center in Springfield. John Owendoff of Cushman & Wakefield represented the seller, a Dallas-based real estate fund advised by Crow Holdings Capital, in the transaction. Rochester, N.Y.-based Glazer Properties acquired the property for $25 million. Backlick Center was 91 percent leased at the time of sale to tenants including Chick-fil-A, Advance Auto Parts, Outback Steakhouse and Taco Bamba. Located at 6651-6691 Backlick Road, the property is located 14.6 miles from Washington, D.C., and 13.8 miles from Ronald Reagan Washington National Airport.

March 22, 2022

Stonebridge-at-City-Park-Apartments-Houston

Acquisitions Multifamily Texas

Civitas Capital Acquires 240-Unit Stonebridge at City Park Apartments in Houston

by Taylor Williams March 22, 2022

HOUSTON — Dallas-based investment firm Civitas Capital has acquired Stonebridge at City Park, a 240-unit apartment community located near Texas Medical Center in Houston. Built in 2004, the property offers one- and two-bedroom units that feature private patios and balconies, as well as individual washers and dryers. Amenities include a pool, fitness center, business center and a resident clubhouse. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program.

March 22, 2022

Acquisitions California Office Western

Colliers Negotiates Sale of 27,440 SF Creative Office Building in Oakland

by Amy Works March 22, 2022

OAKLAND, CALIF. — Colliers has arranged the sale of a creative office property located at 1504 Franklin St. in downtown Oakland. Bullock Capital acquired the asset from SpringTide Franklin LLC for an undisclosed price. The two-story building features 27,440 square feet with 2,000 square feet of ground-floor retail space along 15th Street. The property was built in the 1920s, retrofitted in the 1960s, then restored, retrofitted and modernized in 2018. The most recent renovations included seismic upgrades, new building systems, tech-drive building security and high-end creative finishes. At the time of sale, the property was 81 percent leased. Comfy | Enlightened, a subsidiary of Siemens Real Estate, anchors the building. Will Cliff and Aileen Dolby of Colliers represented the seller in the transaction.

March 22, 2022

Acquisitions Florida Mixed-Use Multifamily Office Retail Southeast Top Stories

CIM Group Sells Strata Wynwood Mixed-Use Development in Miami

by John Nelson March 22, 2022

MIAMI — CIM Group, a commercial real estate developer, owner and lender based in Los Angeles, has sold Strata Wynwood, a mixed-use development in Miami’s Wynwood district. The buyer and sales price were not disclosed. The recently completed development spans a full city block and comprises two 12-story towers totaling 257 apartments, 27,040 square feet of retail space and an onsite parking garage with 474 spaces. CIM Group and co-developer One Real Estate Investment, a privately owned real estate investor and developer based in Miami, opened the property in October. Situated along North Miami Avenue and bounded by 22nd and 23rd streets, Strata Wynwood’s two towers feature retail space on the ground levels, three floors of offices and eight floors of apartments. “We were able to seamlessly blend these elements into an exceptionally functional and architecturally appealing property that enhances the dynamic Wynwood District,” says Shaul Kuba, co-founder and principal of CIM Group. Strata Wynwood’s apartments range from studios to three-bedroom units. Residential amenities include a 24-hour fitness center, swimming pool with cabanas, lounge areas, grilling stations, open-air theater, music room and coworking spaces. The apartments, offices and retail space feature floor-to-ceiling windows that maximize natural light. Additionally, locally based …

March 22, 2022

Acquisitions Arizona Multifamily Western

Berkadia Institutional Solutions Brokers $325M Sale of Vaseo Apartments in Phoenix

by Amy Works March 21, 2022

PHOENIX — Berkadia Institutional Solutions has arranged the sale of Vaseo Apartments, a 1,222-unit multifamily community in Phoenix. A partnership led by DivcoWest and Klein Financial Corp. sold the asset to Dallas-based Invesco Real Estate for $325 million. Vaseo features an onsite café and market, four swimming pool and spa areas, a 42-seat movie theater, fitness center, full-length basketball court, tennis court, sand volleyball court, playground and a large clubhouse with a demonstration kitchen. Mary Ann King, Brett Betzler, Kaohu Berg-Hee, Mark Forrester of Berkadia, along with CBRE, represented the seller in the deal.

March 21, 2022

Acquisitions Florida Multifamily Southeast

Berkadia Arranges Sale of 224-Unit Multifamily Community in Tampa

by Julia Sanders March 21, 2022

TAMPA, FLA. — Berkadia has arranged the sale and financing of The Place at Carrollwood, a 224-unit multifamily property in Tampa. Jason Stanton, Matt Mitchell, Greg Rainey, Cole Whitaker, David Etchison, Mary Beale and Lauren Gassie of Berkadia represented the seller, Chicago-based Redwood Capital Group. Scott Wadler and Matt Nihan of Berkadia secured an undisclosed amount of acquisition financing through ACRE on behalf of the buyer, Beacon Real Estate Group. Built in 1984, The Place at Carrollwood offers one- and two-bedroom apartments ranging from 629 square feet to 1,050 square feet. Individual units feature fireplaces, kitchen pantries, modern appliances, designer flooring, walk-in closets and balconies or patios. Community amenities include a pool with poolside grilling, fitness center, boardwalk, 24-hour laundry center, car care station, a playground, on-call maintenance and a nature preserve. Located at 4949 Marbrisa Drive, the property is 11.7 miles from downtown Tampa and 6.8 miles from Tampa International Airport. The property is also close to Veteran’s Expressway/589, Citrus Park Mall and Busch Gardens.

March 21, 2022

Acquisitions Multifamily Texas

JLL Negotiates Sale of 210-Unit Active Adult Community in Metro Austin

by Taylor Williams March 21, 2022

GEORGETOWN, TEXAS — JLL has negotiated the sale of Northstar Apartments, a 210-unit active adult community located on the northern outskirts of Austin in Georgetown. The age-restricted property was built in 2021 and features one- and two-bedroom units averaging 1,016 square feet. Amenities include a media center and theater room, pool and spa, outdoor fire pit with seating area, landscaped courtyards and pickleball and bocce ball courts. Ryan McBride, Joe Dowdle, Zach Rigby and Sean Sorrell of JLL represented the seller, Chalk Hill Ventures, in the transaction. A partnership between Bain Capital Real Estate and Capitol Seniors Housing acquired the property for an undisclosed price.

March 21, 2022

Acquisitions Midwest Minnesota Multifamily

JLL Brokers $65.1M Sale of Apartment Community in Woodbury, Minnesota

by Kristin Harlow March 21, 2022

WOODBURY, MINN. — JLL Capital Markets has brokered the $65.1 million sale of Beyond Apartments in Woodbury, a suburb of the Twin Cities. Built in 2021, the 255-unit apartment community features studios, one-, two- and three-bedroom units. Amenities include a sky lounge patio, pet wash, coworking lounge, fitness center, golf simulator and underground parking. Mox Gunderson, Dan Linnell, Josh Talberg and Adam Haydon of JLL represented the seller, Roers Cos. Affiliates of MLG Capital purchased the asset. Scott Streiff and Brock Yaffe of JLL originated a 10-year Fannie Mae loan for the acquisition.

March 21, 2022

Acquisitions New York Northeast Retail

WS Development Acquires 240,000 SF Stuyvesant Plaza in Albany, New York

by Taylor Williams March 21, 2022

ALBANY, N.Y. — Massachusetts-based WS Development has acquired Stuyvesant Plaza, a 240,000-square-foot shopping center in Albany that houses more than 60 retailers and restaurants. The property was originally built in 1959. The seller was an entity doing business as Stuyvesant Plaza Inc. The new ownership plans to implement a value-add program.

March 21, 2022

Acquisitions Florida Multifamily North Carolina South Carolina Southeast

Arch Cos. Sells Multifamily Portfolio in Carolinas, Florida for $199M

by Julia Sanders March 18, 2022

NEW YORK CITY — Arch Cos. has sold 1,993 multifamily units across six properties in Winston-Salem, N.C.; Spartanburg, S.C.; and Jacksonville, Fla. The sales price was $199 million. The buyer was not disclosed. Arch Cos. invested more than $15.5 million in capital expenditures in the properties and renovated 59 percent of all units over the past two years. The properties in the sale include The Arlington, The Arcadian and The Charleston in Winston-Salem; The Abner in Spartanburg; and Riverbank and Midtown Oaks in Jacksonville. Jeffrey Julien, Roberto Casas, Vic Ciancetta, Bill Weber, Bill Shippen and Denise Fansler of JLL represented Arch Cos. in the portfolio transaction. Other agents involved in the transaction include Kay Hill and Bern DuPree of Furman Capital Advisors and John Rutherford of NAI Hallmark.

March 18, 2022

Newer Posts

Older Posts