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Signature West Midtown
AcquisitionsGeorgiaMultifamilySoutheastStudent Housing

Newmark Arranges $95M Sale of New Student Housing Property Near Georgia Tech in Atlanta

by Julia Sanders

ATLANTA — Newmark has arranged the $95 million sale of Signature West Midtown, a student housing community situated at 800 Marietta Street NW in Atlanta’s West Midtown district. The 525-bed property was completed in 2019 and primarily serves the student population at nearby Georgia Tech. Ryan Lang, Jack Brett and Bert Sanders of Newmark represented the sellers, Investcorp and Preiss Cos., in the transaction. Trent Houchin of Newmark arranged acquisition financing on behalf of the buyer, Ascott Residence Trust. This is the first investment in the U.S. student housing sector for Ascott, a hospitality trust based in Singapore. Signature West Midtown features studio and one- to five-bedroom units. Community amenities include a gym, pool, rooftop lounges and barbeque pits, a business center, study lounges, game room and delivery lockers.

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AcquisitionsIndustrialNew HampshireNortheastSelf-Storage

Marcus & Millichap Brokers Sale of 391-Unit Self-Storage Facility in Brentwood, New Hampshire

by Taylor Williams

BRENTWOOD, N.H. — Marcus & Millichap has brokered the sale of Creative Self Storage, a 391-unit facility in Brentwood, located in the southern part of the state. The property features 58,064 net rentable square feet across 357 non-climate-controlled units and 34 climate-controlled units. Nathan Coe, Brett Hatcher, Gabriel Coe and James Koury of Marcus & Millichap represented the seller in the transaction. Additional terms of sale were not disclosed.

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AcquisitionsArizonaMultifamilyWestern

Cushman & Wakefield Brokers $64.5M Sale of Aspen Place Multifamily Community in Flagstaff, Arizona

by Amy Works

FLAGSTAFF, ARIZ. — Cushman & Wakefield has arranged the sale of Village at Aspen Place, an apartment property located at 601 E. Piccadilly Drive in Flagstaff. An entity formed by Orange County, Calif.-based NNC Apartment Ventures acquired the asset from an entity formed by Kansas City, Mo.-based VanTrust Real Estate for $64.5 million. David Fogler and Steven Nicoluzakis of Cushman & Wakefield’s Multifamily Advisory Group in Phoenix represented the seller in the deal. Completed in 2015, Village at Aspen Place feature 222 units in a mix of studio, one- and two-bedroom layouts. Community amenities include ground-floor retail space, an attached parking garage and elevator service to each floor.

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AcquisitionsIndustrialTexas

CanTex Capital, Imperium Acquire 135,000 SF Industrial Complex in Dallas

by Taylor Williams

DALLAS — Locally based investment firm CanTex Capital, in partnership with New York City-based Imperium Capital, has acquired a 135,000-square-foot industrial complex in Dallas. The infill property is situated on 19.2 acres in the West Brookhollow submarket, adjacent to the Dallas Design District. Jarrod McCabe and Campbell Roach of JLL arranged an undisclosed amount of acquisition financing on behalf of the partnership for the deal. The seller was not disclosed.

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Rustburg Marketplace
AcquisitionsRetailSoutheastVirginia

S.L. Nusbaum Arranges $4.7M Sale of Grocery-Anchored Shopping Center in Rustburg, Virginia

by Julia Sanders

RUSTBURG, VA. — S.L. Nusbaum Realty Co. has arranged the $4.7 million sale of Rustburg Marketplace, a 46,700-square-foot shopping center in Rustburg. The Kent Mall LLC, a private real estate investment company based in Pennsylvania, purchased the center from Rustburg Ventures LLC. The center, anchored by Food Lion, was fully leased at the time of sale to nine local and national tenants including Family Dollar, Virginia ABC, Domino’s Pizza and Subway. According to the brokers, 88 percent of the tenants at Rustburg Marketplace have been in place for more than 20 years.

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Chandler Park
AcquisitionsKentuckyMultifamilySoutheast

DLP Real Estate Capital Acquires 560-Unit Multifamily Portfolio in Kentucky

by Julia Sanders

OWENSBORO AND PADUCAH, KY. — DLP Real Estate Capital has acquired the Chandler Park multifamily property portfolio, which consists of two Kentucky communities in Owensboro and Paducah. The 560-unit portfolio includes one-, two- and three-bedroom units and marks DLP’s first expansion in Kentucky. The seller, Chandler Apartment Homes, sold Owensboro for $35.4 million and Paducah for $25.7 million. Built in 2014, the 320-unit Chandler Park, Owensboro is located at 3750 Ralph Ave. The property sits on over 17 acres with 17 residential buildings and includes a swimming pool, fitness center and green space with grills. The apartments have open floor plans, patios and balconies, stainless steel appliances, granite countertops and are pet-friendly. Built in 2016, the 240-unit Chandler Park, Paducah is located at 2651 Perkins Creek Drive. The property sits on almost 12 acres with seven apartment buildings and includes a swimming pool, fitness center, clubhouse and dog park. The apartments have open floor plans, stainless steel appliances with granite countertops, private patios and balconies and are pet-friendly. Brian Devlin, Brandon Wilson and John Seale of The Kirkland Co. brokered the portfolio sale. Kirkland Co., based in Nashville, is a brokerage firm that specializes in the sale of apartment communities …

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AcquisitionsHealthcareSoutheastVirginia

Cushman & Wakefield | Thalhimer Facilitates $1.9M Land Sale in Chester, Virginia for New Emergency Clinic

by Julia Sanders

CHESTER, VA. — Cushman & Wakefield | Thalhimer has facilitated the $1.9 million sale of approximately six acres of land located on the corner of Route One at Moore’s Lake Road in Chester. David Smith of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the sellers, Americana Park LLC and Trollingwood Land LLC. Bon Secours St. Francis Medical Center, a medical center located in Midlothian, Va., purchased the property for the development of a freestanding emergency clinic.

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AcquisitionsIllinoisMidwestMultifamily

Kiser Group Brokers $7.1M Sale of Apartment Asset in Suburban Chicago

by Kristin Harlow

DOWNERS GROVE, ILL. — Kiser Group has brokered the sale of East Village Apartments in Downers Grove for $7.1 million. Floor plans include 18 two-bedroom units and two one-bedroom units. Built in 2018, the three-story property includes 20 units. Ron Plonis of Kiser represented both the seller, Forth Group Real Estate, and the buyer, HP Ventures Group-Development Services LLC.

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E405-Euclid-Shops-Fountain-Valley-CA
AcquisitionsCaliforniaRetailWestern

Buchanan Street Partners Acquires Showroom Retail Center in Orange County for $24M

by Amy Works

FOUNTAIN VALLEY, CALIF. — Newport Beach, Calif.-based Buchanan Street Partners has purchased E405 Euclid Shops, a showroom retail center located at 18225 to 18349 Euclid St. in Fountain Valley. A Southern California-based family trust sold the asset for $24 million. Situated on 4.9 acres, the property features 91,517 square feet of flexible showroom and retail space. Current tenants include Sherwin-Williams, Guitar Center and Cort Furniture. Matthew Mousavi, Patrick Luther and Rich Walter of SRS National Net Lease Group represented the buyer and seller in the deal.

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Florence Shops
AcquisitionsKentuckyRetailSoutheast

MAGNA Properties Acquires Florence Shops in Metro Cincinnati for $5.5M

by Julia Sanders

FLORENCE, KY. — Ohio-based MAGNA Properties has acquired Florence Shops, a 50,068-square-foot, multi-tenant shopping center located at 7541-7565 Mall Road in Florence. The property was fully leased at the time of sale. Patrick Metz of Stan Johnson Co. represented MAGNA Properties in the $5.5 million acquisition. The seller was an undisclosed local developer. The Florence Shops is situated on 4.1 acres approximately 13 miles from Cincinnati. The acquisition includes additional development potential on an adjacent pad site. The center’s neighboring tenants include Kroger, Old Navy, Ulta Beauty and Barnes & Noble. The center was last renovated in 2015.

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