GARLAND, TEXAS — Locally based brokerage firm Structure Commercial has arranged the sale of Eastgate Shopping Center, a 101,136-square-foot retail property located in the northeastern Dallas suburb of Garland. A 195,912-square-foot Walmart Supercenter sits adjacent to the center, which houses tenants such as Aaron’s, Texas DPS and Jumping World. Eric Deuillet, Scott Rose and John Hiller of Structure Commercial represented the undisclosed seller and procured a family trust as the buyer. Eastgate Shopping Center was 100 percent leased at the time of sale.
NORTHBRIDGE, MASS. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a seniors housing campus featuring 154 skilled nursing beds and 26 assisted living units in the Worcester suburb of Northbridge. The community, which was not named, was built in 1970 on 13 acres. It totals 93,000 square feet following expansions in 1995 and 2005. Owner-operator Salmon Health and Retirement sold the property as a non-core community in its portfolio. A Massachusetts-based investor acquired the asset for an undisclosed price.
CHARLOTTE, N.C. — Trinity Partners has arranged the sale of One & Two Fairview Center, a 182,841-square-foot, two-building office park in Charlotte’s SouthPark office submarket. The buyer was an entity affiliated with Taurus Investment Holdings, a Boston-based global private equity real estate firm. Dunn Mileham and David Morris of Trinity Partners handled the transaction on behalf of the seller, an affiliate of CapRidge Partners. The sales price was not disclosed. One & Two Fairview Center was approximately 93 percent occupied at the time of sale. After purchasing the properties in early 2019, CapRidge executed a capital improvement, spec suite and leasing plan. The property is located right across from SouthPark Mall, which features over 150 stores including Dillard’s, Macy’s, Belk, Nordstrom, Dick’s Sporting Goods and Victoria’s Secret. Trinity Partners leased One & Two Fairview Center on behalf of CapRidge, an Austin, Texas-based real estate investment firm.
LAKE MARY, FLA. — Avanti Way Capital has acquired Shoppes at Lake Mary, a 37,685-square-foot shopping center located at 101 N. Country Club Road in Lake Mary. Avanti Way Capital purchased the 4.6-acre development from Miami-based real estate investment firm, Galium Capital, for $8.4 million. New York-based Morgan Stanley provided a $5.4 million acquisition loan for the sale. Dan Gorczycki and Peter Stobierski of TrueRate Services arranged the loan. Located off Lakeview Avenue and State Road 15, Shoppes at Lake Mary was originally built in 1985 and is situated about 19 miles from downtown Orlando. The shopping center was 94 percent leased at the time of sale to tenants including Lake Mary Dry Cleaners, Debs Kitchen, Lighthouse Seafood, Morganic Meats and Foxcase LLC. The property has 175 parking spaces. Avanti Way Capital is a Miami-based real estate asset management firm with roughly $1 billion worth of properties in Florida.
DALLAS — A partnership between Dallas-based RREAF Holdings, North Carolina-based DLP Capital and 3650 REIT has acquired a portfolio of 13 multifamily properties totaling more than 2,000 units across various Sun Belt states. This deal marks the first tranche of a larger, three-phase acquisition that is slated to close by early November. The entire portfolio totals 21 multifamily communities and 4,000-plus units and is valued at $534 million. Taylor Bird, Andrew Brown and Jaime Slocumb of Cushman & Wakefield represented the sellers in the transaction. Berkadia arranged Freddie Mac acquisition financing on behalf of the new ownership, which will implement a variety of capital improvements to the properties.
CORONA, CALIF. — An investment group led by Ocean West Capital Partners, Tiger Alternative Investors and NH Investment & Securities has purchased The Monterey, a newly built apartment property in Corona. Completed in 2021, The Monterey features 442 apartments in a mix of one-, two- and three-bedroom units ranging from 726 square feet to 1,520 square feet. Community amenities include two resort-style swimming pools; clubhouses with roof decks; fitness, yoga and spin studios; co-working space with conference rooms and soundproof privacy pods; an outdoor movie theater; and a community garden and citrus orchard. Camden Pacific Partners is also a part of the consortium that owns the property. The seller and price were not disclosed.
SALT LAKE CITY — SRS Real Estate Partners has arranged the sale of a gas station and convenience store property located at 2680 S. 2000 E in Salt Lake City. A Texas-based private investor and developer sold the asset to a Utah-based private independent petroleum marketer for $3.1 million. Maverick, an independent fuel marketer, occupies the 3,024-square-foot property. Built in 1983 and renovated in 2018, the property features an eight-pump gas station and high-volume convenience store. Jack Cornell, Matthew Mousavi and Patrick Luther of SRS Real Estate Partners’ National Net Lease Group represented the seller in the deal.
FORT WORTH AND DENTON, TEXAS — An affiliate of Livingston Street Capital has acquired a portfolio of two active adult communities totaling 402 units in North Texas. The properties include a 162-unit community in Fort Worth, which the firm has rebranded as The Spring at Silverton, and a 240-unit community in Denton, which the firm has rebranded as Sunstone Village. These assets bring Livingston’s active adult and independent living portfolio to nearly 600 units in the Dallas-Fort Worth market and more than 1,500 units nationally.
BRIDGEWATER, N.J. — Cushman & Wakefield has brokered the sale of two industrial buildings totaling 204,000 square feet that are located in the Northern New Jersey community of Bridgewater. Both buildings feature cross-dock configurations and clear heights of 23 feet and were fully leased at the time of sale. A Cushman & Wakefield team of Gary Gabriel, David Bernhaut, Kyle Schmidt and Seth Zuidema represented the seller, Camber Real Estate Partners, and procured the buyer, High Street Logistics Properties, in the transaction. The sales price was not disclosed.
CARY, N.C. — Katz Properties Retail, a New York-based real estate firm, has acquired Amberly Place, a 77,675-square-foot shopping center located in Cary. Dennis Carson, Casey Rosen and Mike Burkard of CBRE represented the St. Petersburg, Fla.-based seller, The Sembler Co. The sales price was $28.4 million. Amberly Place is 98.6 percent leased and anchored by a 50,280-square-foot Publix grocery store. The Publix has been an anchor at Amberly Place since the property was constructed. Built in 2018, Amberly Place is situated at 10225 Green Level Church Road just two miles from Apple’s new Raleigh campus.