REBusinessOnline

Lincoln Property, Goldman Sachs Acquire 90,000 SF Creative Office Building in San Francisco

SAN FRANCISCO — Lincoln Property Co., led by Lincoln’s LPC West team in San Francisco, has partnered with affiliates of the Goldman Sachs Merchant Banking Division to purchase 1045 Sansome Street, a four-story creative office building in San Francisco’s North Waterfront/Jackson Square neighborhood. Constructed in 1926, the nearly 90,000-square-foot building was originally home to a printing press before its conversion to creative office space. The property has undergone several …

ESI Brokers Sale of Cedar Creek Senior Living in Madera, California

MADERA, CALIF. — Evans Senior Investments (ESI) has arranged the sale of Cedar Creek Senior Living, a 112-unit independent living, assisted living and memory care community. The property is located in Madera, approximately 25 miles northwest of Fresno. Originally built in 2005, the community averaged 87.6 percent occupancy in the year leading up to the sale. ESI represented the seller, an independent owner. A California-based REIT acquired the property for an undisclosed

Cushman & Wakefield Arranges Sale of 334-Unit Multifamily Property in Tampa Bay Area

ST. PETERSBURG, FLA. — Cushman & Wakefield has arranged the sale of Promenade at Carillon, a 334-unit multifamily community in St. Petersburg. Promenade at Carillon comprises 13 three-story buildings offering a mix of one-, two- and three-bedroom floor plans. Communal amenities include a pool with sundeck, outdoor grilling area, dog park and a renovated clubhouse/leasing center with resident lounge, business center and a fitness facility. Furthermore, the property encircles a nature …

NGZ Brokers Sale of Seven-Building Industrial Flex Portfolio in Kansas City’s Executive Park

KANSAS CITY, MO. — Newmark Grubb Zimmer (NGZ) has brokered the sale of a seven-building industrial flex portfolio located in Kansas City’s Executive Park. The 210,751-square-foot portfolio is home to 17 tenants and was 89 percent occupied at the time of sale. Mark Long and John Hassler of NGZ represented the seller, Odyssey Real Estate Capital. A local investment group purchased the asset for an undisclosed

Brennan Acquires 98,600 SF Industrial Facility in Milwaukee

MILWAUKEE — Brennan Investment Group has acquired a 98,600-square-foot industrial facility in Milwaukee. The seller and sales price were undisclosed. The property, located at 11925 W. Carmen Ave., is fully leased to Hilmot, a provider of conveyor equipment. Andy Hess and Derek Yentz of Founders 3 Real Estate Services represented Brennan in the transaction. Chicago-based Brennan has acquired more than $4 billion in industrial real estate since

IPA Negotiates $49.5M Sale of Deer Creek Village Multifamily Asset in North Phoenix

PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Deer Creek Village, an apartment property located in North Phoenix. Triumph Properties Group acquired the community from a private family/operating partner for $49.5 million, or $160,714 per unit. Built in the 1985 on more than 11 acres, the value-add property features 308 units with an average size of 818 square feet. Community amenities include a playground, three swimming …

Poincare Group Acquires Bel Villaggio Retail Centers in Temecula for $26.1M

TEMECULA, CALIF. — Poincare Group has purchased Bel Villaggio I-II and Bel Villaggio III, two adjacent retail assets in Temecula. San Diego-based Pathfinder Partners sold the properties $26.1 million. Situated on more than 16.3 acres, the properties are located at 41501 and 41221-41493 Margarita Road, adjacent to Costco and Promenade Temecula. Kirk Brummer, Sean Heitzler and Philip D. Voorhees of CBRE’s National Retail Partners-West represented the seller in the

Woodspear Properties Purchases Industrial Facility in Denver for $21.1M

DENVER — Woodspear Properties (Ascendant Capital Partners DNA) has purchased an industrial property located at 9950 E. 40th Ave. in Denver. H-B Tempe LLC , a Minneapolis-based private investor, sold the asset for $21.1 million, or $196.69 per square foot. Built in 2014 with concrete tilt-up construction, the 107,303-square-foot, institutional-grade facility features 7,037 square feet of office space, three dock doors and 16 drive-in doors. Situated on seven acres, the asset is located 15 …

Adler Realty Investments Divests of Cal Twin Towers Office Complex in Bakersfield

BAKERSFIELD, CALIF. — Adler Realty Investments has completed the sale of Cal Twin Towers, an office asset located at 4900 California Ave. in Bakersfield. Steve Blumer, a local investor, acquired the office complex for an undisclosed price. Adler originally purchased the 151,829-square-foot asset in 2005, completing a building renovation and maintaining high occupancy during its 15 years of ownership. Current tenants include Omni Healthcare, Regus, Progressive Insurance and Principal Life. …

Kislak Co. Brokers $10.6M Sale of Multifamily Portfolio in Metro Harrisburg, Pennsylvania

HERSHEY, HUMMELSTOWN AND PALMYRA, PA. — The Kislak Co. Inc. has brokered the $10.6 million sale of a multifamily portfolio totaling 96 units in the metro Harrisburg area. The portfolio comprises the 18-unit White Birch Apartments and 32-unit Lincoln Apartments, both in Hershey; the 32-unit Li-Lo Apartments in Hummelstown; and the 14-unit Barrington Court Apartments in Palmyra. Robert Holland and Matt Wolf of Kislak Co. represented the buyer, Hershey Apartment Group LLC. The team also …

Conferences