FORT WORTH, TEXAS — Marcus & Millichap has arranged the $6.4 million sale of the 10 Federal Texas Portfolio, a collection of three self-storage facilities totaling 585 units in Fort Worth. The portfolio spans five acres and 68,030 net rentable square feet. Stacey Gorman, Eric Jones, Cameron Bradford and Sam Slocum of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Brandon Karr and Danny Cunningham, also with Marcus & Millichap, procured the buyer, a private investor, and the firm’s Tim Speck assisted in closing the deal as the broker of record. The portfolio was 86 percent occupied at the time of sale.
JEFFERSON CITY, MO. — Newmark has arranged the sale of a 92,613-square-foot retail building net leased to Orscheln Farm & Home in Jefferson City. The sales price was undisclosed, but the asking price of $6.7 million represented a cap rate of 5.5 percent. Matt Berres, Samer Khalil, Karick Brown, Michael VanBuskirk and Chris Robertson of Newmark represented the seller, a private developer, and procured the undisclosed buyer. Orscheln Farm & Home took occupancy of the property in 2017 and signed a new 15-year lease in 2021. The retailer operates 175 stores in 11 states.
ALBUQUERQUE, N.M. — Northmarq has arranged the sale of two apartment communities in Albuquerque for an undisclosed price. ABQ Encore LLC and Uptown Horizon Apartments LLC sold the assets to CS ABQ Encore and CA ABQ Uptown, ownership entities of New York-based Crescent Sky Real Estate Partners, with loan assumptions and no new debt. The properties are the first acquisitions in Albuquerque by Crescent Sky Real Estate Partners. Located at 810 Eubank Blvd. NE, ABQ Encore features 129 residences split between 331-square-foot studio units and 551-square-foot one-bedroom units. The property was built in 1971 and converted from a hotel to a multifamily community in 2017. Community amenities include a laundry facility, 24-hour fitness center and pet park. Built in 1961, Uptown Horizon features 79 apartments, including 55 studio units and 24 one-bedroom units. The property’s roof was replaced in 2018, and 25 of the units underwent light upgrades with new kitchen appliance packages. Onsite amenities include a swimming pool, laundry facilities, outdoor grills and picnic areas. Uptown Horizon is located at 7601 Lomas Blvd. NE. Cynthia Meister, Trevor Koskovich and Jesse Hudson of Northmarq represented the sellers in the deal.
LAWRENCEVILLE, GA. — JLL Capital Markets has brokered the sale of The Fieldhouse, a multifamily community featuring 252 residential units and 10,112 square feet of commercial space in Lawrenceville, roughly 30 miles northeast of Atlanta. Built in 2021, the property overlooks Coolray Field, home ballpark of the Minor League Baseball team Gwinnett Stripers. The Fieldhouse comprises three buildings with units in studio, one- and two-bedroom layouts. Amenities include a rooftop lounge, pool deck, grilling stations, two dog parks, a club and game room, workspace, a kitchen and bar for entertaining, a yoga studio and a fitness center. John Weber, Vic Ciancetta and Cade Songy of JLL represented the seller, Brand Properties, in the transaction. Bonaventure Realty Group was the buyer. The sales price was not disclosed.
MIAMI — Berkadia has arranged a $36.2 million loan for the acquisition of Cube WYNWD, an office building in the Wynwood neighborhood of Miami. Located at 230 NW 24th St., the building comprises 90,000 square feet of office space and 10,000 square feet of retail space. Scott Wadler of Berkadia secured the financing on behalf of the borrower, a joint venture between San Francisco-based Brick & Timber and Philadelphia-based Argosy Capital Partners. JP Morgan provided the five-year, fixed-rate loan, which features interest-only payments for the full term.
ERLANGER, KY. — Corporex Cos. has sold Atlantic Corporate Center, an office building in the Cincinnati suburb of Erlanger, for $31.3 million. Matt Waggoner and Josh Gerth of JLL represented the buyer, Answers in Genesis, in the transaction. The Christian parachurch organization plans to transform the 205,000-square-foot building into its headquarters. Featuring a full-service cafeteria, fitness center, outdoor fitness trail, medical clinic and a 100-person auditorium, the building will house the organization’s K-12 school, center for Christian teachers, streaming platform and graphic arts division. Answers in Genesis plans to move into the building in the summer of next year.
TUALATIN, ORE. — Kidder Mathews has arranged the sale of Fox Meadows Apartments, a garden-style multifamily property in Tualatin. Trion Properties sold the asset to a California-based national multifamily investor for $19.3 million. Tyler Linn, Jordan Carter and Clay Newton of Kidder Mathews represented the seller in the deal. Located at 19545 and 19605 SW Boones Ferry Road, Fox Meadows features 95 apartments in a mix of one-, two- and three-bedroom units.
ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of The Hub, a 168-unit apartment community in Arlington. The property houses studio, one- and two-bedroom units and offers amenities such as a dog park and outdoor grilling and dining areas. Al Silva and Ford Braly of Marcus & Millichap represented the seller, Lubbock-based developer Madera Residential, in the transaction and procured an undisclosed, locally based investment group as the buyer. The new ownership plans to implement a value-add program.
NEW HAVEN, CONN. — Northeast Private Client Group has brokered the $34.6 million sale of a portfolio of two multifamily properties totaling 145 units in New Haven. Broadway Living is a five-building, 101-unit complex, and The Elm is a newly constructed, 44-unit building. All units at both properties are rented at market rates. Brad Balletto, Jeff Wright and Rich Edwards of Northeast Private Client Group brokered the deal. The buyer and seller were not disclosed.
WEST VALLEY, CALIF. — Red Mountain Group has completed the disposition of a four-tenant retail property located in West Valley. An undisclosed buyer acquired the asset for $2.1 million. At the time of sale, the 6,764-square-foot property was fully leased to Tellica Imaging, Allstate Insurance, Metro by T Mobile and a nail salon. Dave Lucas of CP Partners Commercial Real Estate represented the seller in the deal.