PLANO, TEXAS — Canadian investment firm Western Wealth Capital has acquired Bel Air K Station Apartment Homes, a 245-unit community in Plano that was built in 2001. According to Apartments.com, the pet-friendly property features studio, one- and two-bedroom units that range in size from 466 to 1,230 square feet and amenities such as a pool, fitness center, picnic area and a resident clubhouse. The seller and sales price were not disclosed.
TINLEY PARK, ILL. — Artisan Capital Group has purchased Edenbridge Apartments in the Chicago suburb of Tinley Park for an undisclosed price. The 309-unit, midrise apartment complex features studio, one-, two- and three-bedroom floor plans. Amenities include a sundeck, clubhouse, playground and pool. John Schorgl of Berkadia arranged acquisition financing through Cohen & Co.
ATLANTA — Crown Bay Group has sold FortyThree 75 Apartments, a 260-unit multifamily community in southwest Atlanta, for $37.1 million. Chandler Brown, Barden Brown and Taylor Brown of Global Real Estate Advisors represented the seller in the transaction. The Beach Co. was the buyer. Built in 1974, FortyThree 75 offers one-, two- and three-bedroom floorplans. Unit features include hardwood floors, home alarms, walk-in closets and washer and dryer connections. Community amenities include a leasing office, clubhouse, fitness center, swimming pool, grilling/picnic pavilion, laundry center playground and a dog park. The buyer plans to complete interior and exterior renovations, as well as add amenities. Located at 4375 Cascade Road, the property is situated 12.1 miles west from downtown Atlanta and 12.3 miles from the Hartsfield-Jackson Atlanta International Airport.
FORT LAUDERDALE, FLA. — CBRE has arranged the $7 million sale of a 42,442-square-foot office building in Fort Lauderdale known as the 5100 Building. The buyer, medical office user Hall Consolidated Group LLC, plans to eventually occupy the property. Benjamin Silver with CBRE represented the seller, an entity known as 5100 Realty LLC, in the transaction. The seller is an affiliate of Cambridge Security, the property’s anchor tenant that plans to eventually vacate the office building. Originally built in 1972, the four-story office building received several capital improvements last year, including a new roof, exterior waterproofing, lobby upgrades and the replacement of several air conditioning units. The buyer plans to make further improvements Located at 5100 N. Federal Highway, the property is situated close to the area’s largest medical provider, Holy Cross Hospital, a 557-bed healthcare facility. The property also has nearby access to Interstates 95, 441 and Florida Turnpike from East Commercial Boulevard.
WHITE PLAINS, N.Y. — Locally based investment firm Argent Ventures has acquired White Plains Plaza, a 715,365-square-foot office complex located north of New York City, for $105 million. The two-building complex was 76 percent leased to a roster of 74 tenants at the time of sale. Kevin Welsh, Brian Schulz, Jason Emrani, Evan Layne, Brett Siegel, Alex Foshay and Glenn Walsh of Newmark represented the seller, a partnership between Ivy Realty and DW Capital, in the transaction. Anthony Orso and Ari Schwartzbard of Newmark arranged acquisition financing on behalf of Argent Ventures.
LOS ANGELES — Buck Design, a global creative agency, has acquired a creative office property in Los Angeles for its West Coast operations. Brickstar Capital sold the asset for $26.5 million. Located at 120 S. San Pedro St., the building features 79,249 square feet of creative office space. Brickstar Capital purchased the property in 2017 and transformed it into a creative campus in 2020 with an updated lobby, private patio and new gym. The building was originally built in 1985 and includes ground-floor retail and subterranean parking. Jack Cline, Doug Cline and Even Jurgensen of Lee & Associates represented the buyer, while Taylor Watson, Brad Chelf, Phillip Sample, Chris Caras, Michael Shustak and Ryan Phillips of CBRE represented the seller in the deal.
GLENDALE, ARIZ. — Cleveland, Ohio-based Woodside Health has purchased Il Palazzo at Arrowhead Ranch, a 44,680-square-foot mixed-use retail and medical office property in Glendale. An undisclosed seller sold the property for $12.5 million. Consisting of five one- and two-story buildings, the asset was 96 percent leased at the time of sale. Approximately one-third of its occupancy comprises retail and restaurant tenants, including a national bank branch, and the remaining space is occupied by medical, wellness and professional office tenants. Alexandra Loye, Steve Lindley, Eric Wichterman and Mike Coover of Cushman & Wakefield’s capital markets and private capital teams in Phoenix negotiated the sale.
GOOSE CREEK, S.C. — Bethesda, Md.-based Excelsa Properties has acquired Coventry Green Apartments, a 256-unit multifamily property located in Goose Creek. The undisclosed seller sold the property for $52.7 million. Coventry Green Apartments includes two- and three-story buildings. Built in 2001, the property offers one-, two- and three-bedroom floorplans. Community amenities include a car care center, saltwater pool, washer and dryer connections, billiards room, café with Wi-Fi and stainless steel appliances. Excelsa Properties intends to invest more than $5 million to upgrade the property. Located at 104 Gainsborough Drive, the property is situated 13.9 miles from North Charleston, 15.6 miles from Charleston International Airport and 22.7 miles to Charleston. The property is also close to major employers including Joint Base Charleston, The Medical University of South Carolina, The Boeing Co. and Volvo Car USA.
DAVENPORT, FLA. — Thompson Thrift Residential, an affiliate of Indianapolis-based Thompson Thrift, has sold Thrive, a 328-unit multifamily community in Davenport. Minneapolis-based Timberland Partners purchased the property for an undisclosed amount. Scott Ramey, Brad Downing and Paul Grant of Newmark represented Thompson Thrift in the transaction. Thrive offers one-, two- and three-bedroom floorplans in 12 two-story and two four-story buildings. Unit features include a fireplace, stainless steel appliances, island kitchen, vinyl flooring and double vanities. Community amenities include an outdoor kitchen, swimming pool with cabanas, fitness center, yoga room, a dog park and pet spa. Completed in 2021, the property was 93 percent occupied at the time of sale. Located at 141 Thrive Road, Thrive is situated 11.8 miles from the Walt Disney World Resort and 37 miles from downtown Orlando. The property is also 27.5 miles from Orlando International Airport.
VALDOSTA, GA. — Marcus & Millichap has brokered the $7 million sale of Promenade Plaza, a 64,523-square-foot shopping center located in Valdosta. James Medefind, John Brigel, James Garner and Jim Shiebler of Marcus & Millichap represented the seller, an undisclosed limited liability company. Medefind of Marcus & Millichap represented the undisclosed buyer. Promenade Plaza was fully occupied at the time of sale to tenants including Shoe Carnival, Books-A-Million, Best Buy, Five Guys and Sleep Number. Located on 5.5 acres at 1705 Norman Drive, the property is situated adjacent to the Valdosta Mall, an indoor mall with tenants such as JC Penney, Belk and Envy Boutique. The property is also 2.5 miles from Valdosta State University and 20 miles north of the Georgia-Florida state line via Interstate 75.