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 2010.
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 pools and two spas. Cliff Davis and Steve Gebing of IPA represented the seller and procured the buyer in the transaction.
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 deal.
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 miles from the Denver International Airport and 10 miles from downtown Denver. Federal Express fully occupies the property and utilizes it as a mission-critical facility. Mike Wafer, Tim D’Angelo, Tim Prinsen and Jerry Hopkins of Newmark Knight Frank (NKF) represented the seller the in transaction. The NKF team also provided transactional assistance to the buyer.
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. The seller recently updated the building’s energy systems, which included a solar installation with covered carports. Alex Belfour, Jeff Andrew, Scott Salters and Susan Moreno of Cushman & Wakefield represented the seller in the deal.
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 represented the sellers, private individuals Donald and Cathy Foreman.
HOUSTON — JLL has arranged the sale of 2900 Weslayan, a six-story boutique office building located at the corner of Weslayan and West Alabama streets in Houston’s Greenway Plaza submarket. Houston-based Griffin Partners, using its investment vehicle Griffin Partners Office Fund III, purchased the 136,698-square-foot office building from Madison Marquette. Dan Miller and Katherine Miller of JLL represented the seller in the transaction. The office building was nearly 82 percent leased at the time of sale, including to retailers Baggy’s Grill, Apteek Pharmacy and Results Physiotherapy. Wally Reid, Cameron Cureton and John Ream, also with JLL, secured a three-year, floating-rate acquisition loan through Frost Bank on behalf of Griffin Partners. Janie Snider and Lee Moreland of Griffin Partners will manage 2900 Weslayan internally. The new ownership has retained Madison Marquette to lease the property.
RENTON, WASH. — Turner Impact Capital has purchased Sunset View, a multifamily community located in Renton, for an undisclosed price. This is the firm’s first investment in the Pacific Northwest and brings its total number of acquired housing units to 9,755. Terms of the acquisition were not disclosed. Located less than 10 miles from downtown Seattle, Sunset View features 240 workforce housing units. Community amenities include a clubhouse, pool, fitness center and an outdoor game area. Turner Impact Capital purchased the asset through its Turner Multifamily Impact Fund II. The Fund plans to provide programs and implement a range of LEED-based sustainability improvements, including low-flow toilets, Energy Star appliances and LED lighting.
PORTLAND, ORE. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Senior Haven, an assisted living community in Portland, Oregon. The property features 47 units totaling 50 beds. The community was built in 2012 and expanded in 2018. The facility is approximately 19,337 square feet and is situated on approximately 1.29 acres of land. A local owner-operator sold the property for an undisclosed price, and will continue to serve as a consultant post-closing. Senior Haven is the seller’s only senior living community. The buyer is a regional operator with several communities in Washington. This is the company’s first foray into Oregon. Brad Goodsell, Jason Punzel and Vince Viverito of SLIB handled the transaction.
LOUISVILLE, KY. — Lexerd Capital Management LLC has bought Anchorage Viera, a 163-unit multifamily property in Louisville. The property, which the buyers renamed The Lory of Louisville, comprises 19 two-story buildings and a community building. The community was originally built in 1985 and has recently undergone a $2.5 million renovation to include new Hardiplank siding, roofing, parking lot seal and stripe and refreshed amenities including a clubhouse renovation. Lexerd Capital plans to also invest in further upgrades, including updating kitchens with backsplash and upgrading fixtures, as well as installing soft seating and a TV lounge to the common pool area. The Lory of Louisville is located at 201 Heritage Hill Trail, 14 miles east of downtown Louisville. Further details of the transaction were not disclosed.