LEBANON, N.H. — CBRE has arranged the $69.2 million sale of Timberwood Commons, a 252-unit apartment community in Lebanon, located in central New Hampshire. The property consists of five three-story buildings on a 42.6-acre tract. Units feature studio, one-, and two-bedroom floor plans with an average size of 847 square feet. Amenities include a clubhouse, business center, community room, fitness center and a dog park. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, Philadelphia-based Merion Realty Partners, and procured the buyer, an affiliate of Boston-based Audubon Capital Partners.
RALEIGH, N.C. — Investors Management Group Inc. (IMG) has sold a two-property multifamily portfolio in Raleigh to Abacus Capital Group for $29.8 million. The communities include Millbrook Apartment Homes and Lynn Lake Apartment Homes. Millbrook Apartment Homes is a 117-unit community located at 2121 Paces Forest Court, and Lynn Lake Apartment Homes is a 101-unit community located at 6500 Paces Arbor Circle. IMG acquired the two apartments in 2018 for $23.2 million. More than $2 million was invested to upgrade the properties, including upgrades to the clubhouses and improving the outdoor spaces with new dog parks, playgrounds, a hammock park and pool area upgrades. Unit interiors were modernized with energy-efficient lighting, low-flow plumbing fixtures, new paint, flooring, cabinets and cabinet hardware. IMG and its investors will reallocate proceeds from the sale into several multifamily communities as part of its multifamily investment plan. The firm currently owns three multifamily communities in Raleigh encompassing 576 units.
CHICAGO — Dayton Street Partners has acquired a 7.8-acre industrial site in Chicago for an undisclosed price. The site, which includes several buildings totaling 66,154 square feet, is located at 2217 S. Loomis St. Southfield Corp. was the seller. Dayton Street says it expects to garner interest from tenants that require direct access to the city’s neighborhoods as well as users that require significant trailer or fleet parking and outdoor storage. David Lane of Burr and Temkin, along with Ed Wabick, Terry Lynch and Mark Hale of Paine Wetzel, will lead the marketing and leasing efforts.
AURORA, COLO. — Legendary Capital has purchased Courtyard by Marriott Denver-Aurora, a newly constructed hotel located at 255 N. Blackhawk St. in Aurora, for $27.9 million. The name of the seller was not released. Completed last year, the four-story hotel features 141 guest rooms, a business center, three meeting rooms, a fitness center, an outdoor patio with seating and firepit, valet laundry service and a two-story, 55,715-square-foot parking deck. Additionally, the first-floor lobby offers seating areas, a bar/lounge/bistro area and 24-hour front desk. Gordon Allred and Joshua Tammen of Marcus & Millichap’s Ontario, Calif., office handled the transaction. Adam Lewis of Marcus & Millichap serves as broker of record in Colorado.
GILBERT, ARIZ. — Houston-based Nutex Health, a service provider and management firm in the micro-hospital and freestanding emergency room industry, has acquired Gilbert Emergency Hospital, a medical facility located at 5656 S. Power Road in Gilbert. MPT Operating Partnership LP DBA MPT of Gilbert LLC sold the asset for $10.5 million. Built in 2005, the 31,452-square-foot medical office serves as a privately run emergency facility with 42 acute-care beds. The property is Nutex’s third facility in Arizona and 23rd facility in the United States. Philip Wurth and Alexandra Loye of Colliers represented the seller, while Christian Giles of Arizona Healthcare Realty represented the buyer in the deal.
FORT WORTH, TEXAS — San Antonio-based developer Embrey Partners has sold Kelley at Samuels Avenue, an apartment community that overlooks the Trinity River in Fort Worth. According to Apartments.com, Kelley at Samuels Avenue was built in 2018 and totals 353 units. The property features one-, two- and three-bedroom units with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a pool, fitness center, game room, beer garden, outdoor kitchen and a pet spa. The buyer was not disclosed.
OCOEE, FLA. — McCraney Property Co., a private industrial real estate development and investment firm, has acquired 40 acres in an off-market assemblage of three parcels just south of East Fullers Cross Road in Ocoee. The purchase price was not disclosed. The company plans to develop Progress Commerce Park, a six-building, Class A speculative industrial park totaling 480,560 square feet. Currently, the proposed site plan is under review with the City of Ocoee, as well as a zoning change request. If approved, Progress Commerce Park will be developed in three phases. The sellers are Lawrence Levin, Patricia Donahue, Thomas West and West & West LLC, according to Orlando Business Journal. Neither the seller’s nor McCraney Property had brokers in the acquisition.
ARLINGTON, TEXAS — Newmark has brokered the sale of AmeriCredit Center I, a 246,060-square-foot office building in Arlington that is fully leased to automotive finance firm AmeriCredit. According to LoopNet Inc., the three-story property was built on 25.4 acres in 1998. Gary Carr, Ken Hedrick, Jerry Hopkins and Andrew Ragsdale of Newmark represented the undisclosed seller in the transaction. The buyer was CFT Developments LLC.
KILLINGLY, CONN. — Marcus & Millichap has brokered the sale of a 103,084-square-foot industrial building in Killingly, located in the north part of the state along the Rhode Island border. The property was net-leased to steel fabricator Siri Wire, which has occupied the building since 1994, at the time of sale. Harrison Klein, Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, a private investor.
FORT COLLINS, COLO. — An affiliate of Cress Capital has completed the disposition of two single-story R&D buildings in Fort Collins. An undisclosed buyer acquired the properties for $30.6 million. Located at 1625 Sharp Point Drive and 24224 Midpoint Drive, the assets offer a total of 115,627 square feet of industrial space. At the time of sale, Advanced Energy Industries fully occupied both facilities on a long-term basis. Cress originally acquired the properties in May 2017 as part of a 23-buliding portfolio in the Prospect East Business Park. Jeremy Ballenger, Jim Bolt, Tyler Carner, Will Pike and Pete Kelly of CBRE represented Cress Capital in the transaction.