TOMBALL, TEXAS — Colliers has arranged the sale of Oak Bend Place, a 152-unit apartment complex in the northern Houston suburb of Tomball that was originally built in 1984. According to Apartments.com, the property offers two-bedroom units that range in size from 834 to 907 square feet and amenities such as a pool, pet play area and outdoor grilling and dining stations. Chip Nash, Bob Heard, Kitty Wallace and Jaleel Adatia of Colliers represented the seller, Alphil Investments, in the transaction. The buyer was not disclosed.
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HOUSTON — California-based investment firm Sunstone Two Tree has acquired Villas Del Paseo, a 384-unit apartment community in Houston’s Westchase neighborhood, for $28.9 million. Built in 1978, the market-rate property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, playground, business center, package services and outdoor grilling and dining stations. Mark Saunders of Newmark represented the seller, Comunidad Partners, in the transaction. The new ownership plans to invest about $10.5 million in capital improvements. Unit interiors will receive new flooring, counters, lighting, appliances and cabinetry. Building exteriors will be upgraded with new paint, roofing, lighting, landscaping and signage. Sunstone will also repair balconies and parking lots, update the clubhouse and pool and add dog parks.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $26 million sale of a 237-unit multifamily property in The Bronx. The 17-story building sits on a five-acre site at 1500 Noble Ave., in between the West Farms and Parkchester neighborhoods. The unit mix consists of 50 one-bedrooms, 136 two-bedrooms and 51 three-bedrooms. Victor Sozio, Shimon Shkury, Jason Gold, Daniel Mahfar and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.
HOUSTON — Locally based investment firm David Z. Mafrige Interests (DZMI) has acquired World Houston Place, an eight-story office building located at 15710 John F. Kennedy Blvd. on the city’s north side. According to LoopNet Inc., World Houston Place was built in 1985 and totals 216,889 square feet. The seller was not disclosed. The new ownership, which has appointed Stream Realty Partners as the leasing agent, plans to implement a value-add program that includes upgrades of common areas and the addition of a fitness center and tenant lounge.
LONDONDERRY, N.H. — Newmark has negotiated the $39.7 million sale-leaseback of a 224,780-square-foot industrial facility in Londonderry, located outside of Manchester near the New Hampshire-Massachusetts border. The facility was constructed on 17 acres in 2018 for digital printing company EFI and includes both manufacturing and research and development space. Richard Ruggiero and Brian Pinch of Newmark represented EFI in the transaction. The duo also procured the buyer, regional investment firm R.J. Kelly. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark provided additional support on the transaction.
BOSTON — J. Safra Real Estate, an affiliate of international banking and investment firm Safra Group, has agreed to acquire the historic Faneuil Hall Marketplace in downtown Boston. Faneuil Hall traces its origins to 1742, when the site served as a meeting ground and a center of commerce for Boston residents and visitors. Today, the development is home to more than 80 individual businesses. The seller was Ashkenazy Acquisition Corp. Details of the transaction, such as the price and expected closing date, were not disclosed.
DALLAS — A joint venture between Cohen & Steers Income Opportunities REIT and Sterling Organization has acquired a 206,926-square-foot shopping center in Dallas. The property is part of Marketplace at Highland Village, a 451,000-square-foot development that also houses a corporately owned Walmart Supercenter. The acquired portion of the property was built in 2006 was 93 percent leased at the time of sale to tenants such as T.J. Maxx, HomeGoods, LA Fitness, DSW and Petco. Chris Gerard, Barry Brown and Erin Lazarus of JLL represented the undisclosed seller in the transaction.
KINGFISHER, OKLA. — Marcus & Millichap has brokered the sale of the DRD Mini Storage Portfolio, which comprises two buildings totaling 426 units in Kingfisher, about 50 miles northwest of Oklahoma City. The buildings offer a combined 58,760 net rentable square feet of space. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Nevada-based limited liability company, in the transaction. The duo also procured the buyer, a Delaware-based limited liability company. Both parties requested anonymity. Steve Greer of Marcus & Millichap assisted in closing the deal as the broker of record.
SAN ANTONIO — Davis Healthcare Real Estate, a Minneapolis-based investment and brokerage firm, has acquired the University of Texas (UT) Health & Wellness Center in northwest San Antonio for $24.3 million. The 73,390-square-foot outpatient facility was originally built in 1998 within the 900-acre South Texas Medical Center campus for the U.S. Veterans Affairs Department. The property was subsequently renovated in 2022 and is now occupied by the UT Health System. Davis acquired the property from an undisclosed seller in an off-market deal.
MERRIMACK, N.H. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $16.6 million sale of Merrimack Village Center, an 82,292-square-foot shopping center located near the Massachusetts-New Hampshire border. Built on 10 acres in 2006, the center was 99 percent leased at the time of sale, with grocer Shaw’s serving as the anchor tenant. Other users include Dental Designs of New England, KT Cleaners, Supercuts and Subway. Jim Koury led the IPA team that represented the buyer and seller, both of which were limited liability companies, in the transaction.