SAN FRANCISCO — Colliers International has arranged the sale of a seven-property multifamily portfolio in San Francisco. An undisclosed buyer acquired the properties for $90 million. Totaling 124,260 square feet, the portfolio includes 643 Divisadero Street; 1128, 956 and 901 Valencia Street; 970 and 954 Geart Street; and 704 Bush Street. The portfolio offers a total of 176 residential units. James Devincenti and Brad Lagomarsino of Colliers, along with Eve Myers, Joseph Smolen, Mark Petersen, Jeffrey Weber and Will Purcell of Eastdil-Secured, handled the transaction.
LAS VEGAS — Northcap Commercial has arranged the sale of Summer Place Apartments, a multifamily property located in Las Vegas. Summer Place Apartments LLC sold the asset to an undisclosed buyer for $6.7 million, or $60,268 per unit. Built in 1979, the 112-unit property is located at 27 N. 28th St. Devin Lee, Jason Dittenber, Jerad Roberts and Robin Willett of Northcap Commercial handled the transaction.
RANCHO DOMINGUEZ, CALIF. — Terreno Realty Corp. has acquired an industrial property located in Rancho Dominguez for $18 million. The name of the seller was not released. Situated on 3.7 acres at 2310 E. Gladwick St., the 66,000-square-foot industrial distribution facility features 13 dock-high and two grade-level loading positions and parking for 81 cars. At the time of sale, the asset was fully leased to one tenant.
TUCSON, ARIZ. — Cushman & Wakefield has brokered the sale of a multi-tenant retail building situated within Santa Cruz Plaza at 3782 S. 16th Ave. in Tucson. Carlsbad, Calif.-based Blue Hat LLC acquired the asset from Los Angeles-based Santa Cruz Center LLC for $2.5 million. The 7,200-square-foot building is an outparcel to Santa Cruz Plaza, a 271,600-square-foot shopping center anchored by Fry’s Grocery. At the time of sale, the property was fully leased to four tenants: Subway, Cricket Wireless, Nationwide Vision and Affordable Dentures & Implants. Chris Hollenbeck and Shane Carter of Cushman & Wakefield’s Phoenix office represented the seller in the deal.
LOS ANGELES — Champion Real Estate Co. has purchased a student housing community located at 2353 Portland St. in Los Angeles. Century Park sold the asset for $14.1 million. Champion plans to rebrand the property as Victory on Portland and renovate the complex, which was built in 1964. The renovations will change Victory on Portland into a 102-bed property offering units with stainless steel appliances, HVAC units, stone countertops, modern cabinetry and laminate wood flooring. The apartments will be fully furnished with beds, couches, chairs, coffee tables, dining tables, flat-screen televisions, cable, internet, Wi-Fi, Sonos soundbars and other amenities. On-site amenities will include an updated swimming pool, amenity deck, student lounge and leasing office. John Taksa of RE/MAX Commercial & Investment Realty represented the buyer and seller in the transaction.
PORTLAND, ORE. — Norris & Stevens has arranged the sale of The Garthwick, a 30,507-square-foot multifamily building located in Southeast Portland. Yellow Submarine sold the asset to Garthwick – SPE 1 and Garthwick – SPE 2 for $8.6 million, or $359,583 per unit. Located at 8705 SE 13th Ave., The Garthwick features 24 units in a mix of one- and two-bedroom apartments and two- and three-bedroom townhouse-style units. The property was built in 2018. Cameron Mercer and David Chatfield of Portland-based Norris & Stevens represented the seller, while Clay Newton and Jordan Carter of Kidder Mathews represented the buyer in the transaction.
DENVER — Newmark Knight Frank (NKF) Multifamily has arranged the sale of The Kentom Apartments, a four-story, Victorian-era building located in Denver’s Capitol Hill neighborhood. Denver-based Classic Properties sold the property to New York-based Urban American Management for $8.4 million, or $264,063 per unit. Built in 1908, the 32-unit property offers units with exposed brick, clawfoot bathtubs, Victorian chandeliers, original woodwork, front and rear entries to each unit, French doors, bay windows, working fireplaces and balconies. The units average 855 square feet, and the property features on-site resident storage. Justin Hunt, Andy Hellman, Ryan Cohn and Katie Hufnagel of NKF Multifamily represented the seller in the deal. The acquisition is Urban American Management’s second acquisition in metro Denver.
SACRAMENTO — Cushman & Wakefield has arranged the sale of 630 K Street, an office and retail building located in downtown Sacramento. New York Life Real Estate Investors, on behalf of an institutional client, purchased the five-story property from Swift Real Estate Partners. The acquisition price was not released. The new owner plans to make capital improvements to the five-story, 87,140-square-foot property to bring the asset to Class A condition. Adam Lasoff, Seth Siegel, Steve Hermann, Ryan Venezia and Eric Fox of Cushman & Wakefield’s Northern California Capital Markets group, along with Ron Thomas and Kevin Partington of Cushman & Wakefield’s Sacramento office, brokered the transaction. Additionally, the buyer retained Cushman & Wakefield to perform project leasing services for the building.
PORTLAND, ORE. — Norris & Stevens has negotiated the sale of an industrial and office property located at 1700 S.E. 11th Ave. in Portland. An undisclosed buyer acquired the asset from Paul R. Pierce and Joanne Fuller for $5.3 million. The asset features a two-story, 19,667-square-foot building and a 10,000-square-foot surface parking lot providing 30 spaces. At the time of sale, the property was 100 percent occupied by three tenants, including Portland-based Cinco Design and Woodinville, Wash.-based Sierra Construction. As a condition of the sale, the seller leased back the remainder of the property as the third tenant. Raymond Duchek and Thomas McDowell of Portland-based Norris & Stevens represented the seller and buyer in the deal.
SAN JOSE, CALIF. — Marcus & Millichap has negotiated the sale of 1800 Dobbin Drive, an industrial warehouse located in San Jose. San Diego-based Westcore Properties acquired the asset from an undisclosed seller for $20.5 million, or $252 per square foot. Built in 1967 on 3.5 acres, the 81,475-square-foot property features 29-foot clear heights. The building is partitioned into a 25,000-square-foot unit and a 56,475-square-foot unit. Additionally, the facility is in close proximity to the Berryessa/North San Jose Bay Area Rapid Transit station. Jeffrey Ida, Cole Ferrari and Brendan Gallagher of Marcus & Millichap’s San Francisco office represented the seller in the deal.