REBusinessOnline

MAG Capital Partners Sells 124,417 SF Industrial Property in Longview, Texas

LONGVIEW, TEXAS — MAG Capital Partners has sold a 124,417-square-foot industrial property in Longview, about 120 miles east of Dallas, that houses the headquarters and production facilities of M. Roberts Media. The property is located within an Opportunity Zone and has an available parcel for future development. Los Angeles-based investment firm DWG Capital Partners purchased the asset for an undisclosed

Monarch Alternative Capital Acquires 214-Room Westin Minneapolis Hotel

MINNEAPOLIS — Monarch Alternative Capital LP has acquired the Westin Minneapolis hotel in partnership with HEI Hotels & Resorts. Although the purchase price was undisclosed, Monarch says it acquired the hotel at a significant discount due to disruptions caused by the pandemic. The acquisition marks Monarch’s 12th hotel purchase this year. The 214-room, business-oriented hotel is in the heart of downtown. Monarch plans to improve the asset with an upcoming renovation. Monarch will …

Marcus & Millichap Brokers Sale of 714-Unit Self-Storage Facility in Metro Dallas

MIDLOTHIAN, TEXAS — Marcus & Millichap has brokered the sale of Midlothian Self Storage, a 714-unit facility located on the southern outskirts of Dallas. The property spans 94,385 net rentable square feet. Brandon Karr of Marcus & Millichap represented the seller, a private owner, and procured the buyer, a 1031 exchange investor. Both parties involved in the transaction requested

Citivest Commercial, Sage Investco Acquire 116,992 SF Retail Property in Helena, Montana

HELENA, MONT. — Citivest Commercial Investments and Sage Investco have purchased a former department store building in Helena for an undisclosed price. The 116,992-square-foot asset also includes two pad development opportunities, with one ground finalized and another in negotiations.Shopko formerly occupied the building, which is situated within a larger center anchored by Albertsons, Target, JoAnn, Ross Dress for Less and other retailers.The buyers plan to implement a renovation …

HAP Investments Sells Stake in $506M Multifamily Project in Manhattan

NEW YORK CITY — HAP Investments, a New York City-based residential and commercial developer, has sold its equity stake in The Maverick, a $506 million multifamily project at 215-225 W. 28th St. in Manhattan’s Chelsea neighborhood that is nearing completion. HAP Investments sold its interest, the value of which was not disclosed, to Daiwa House Texas, a subsidiary of Japanese homebuilder Daiwa House Group and the firm’s joint venture partner on the project. The Maverick spans 312,500 …

Dominium Purchases Two Apartment Communities in Metro Atlanta, Plans $130M Affordable Housing Project

MCDONOUGH, GA. — Dominium has purchased The Promenade and Willow Place, two apartment communities located at 150 S. Zack Hinton Parkway in McDonough, to develop a $130 million affordable housing project. The development will provide 288 affordable homes for families and 182 homes for seniors. The seller(s) was not disclosed.Greystone arranged a Freddie Mac Tax Exempt Loan (TEL) for both deals, U.S. Bank provided financing for The Promenade and America First Multifamily Investors (ATAX) …

JLL Brokers $5M Land Sale for Multifamily Project in Cary, North Carolina

CARY, N.C. — JLL Capital Markets has brokered the $5 million sale for a 5.8-acre infill land parcel in Cary that is zoned for multifamily. SunCap Property Group acquired the land with plans to develop a 230-unit apartment community called Ashby at Twin Lakes at the site.The property will include one-, two- and three-bedroom residences, as well as a courtyard and pool, gas grills, indoor and outdoor fitness center, workout stations, dog park and spa, bike storage and secured …

Marcus & Millichap Brokers Sale of 469-Unit Self-Storage Facility in Houston

HOUSTON — Marcus & Millichap has brokered the sale of Barker Cypress Self Storage, a 469-unit facility in Houston. Built on 2.9 acres in 1996 and expanded in 2003, the property consists of 130 climate-controlled units totaling 15,800 net rentable square feet and 339 non-climate-controlled units totaling 40,250 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a family partnership, in the transaction. The buyer was not

Darwin Realty/CORFAC International Brokers Sale of 13,418 SF Warehouse in St. Charles, Illinois

ST. CHARLES, ILL. — Darwin Realty/CORFAC International has brokered the sale of 13,418-square-foot warehouse in St. Charles, about 40 miles west of Chicago. Located at 860 Equity Drive, the property was built in 2006 and features a clear height of 18 feet, one dock door and one drive-in door. The building is utilized as a showroom and for storage space. Brendan Sheahan and Frank Damato of Darwin represented the buyer, a private investor. Ryan Corcoran of Corcoran Commercial Real Estate …

Phoenix Investors Buys 600,000 SF Industrial Property Near Pittsburgh

MCKEESPORT, PA. — Phoenix Investors, a Milwaukee-based investment firm, has purchased a 600,000-square-foot industrial property in McKeesport, located southeast of Pittsburgh in Allegheny County. The property, which was built in 1963 and subsequently renovated in 2005 and 2018, is located on a 36-acre site approximately 35 miles southeast of Pittsburgh International Airport with proximity to Interstates 70 and 76. Ned Shekels of Pennsylvania Commercial Real Estate Inc. brokered the deal, the …

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