SAN BERNARDINO, CALIF. — Tower 16 Capital Partners, in a joint venture with Henley USA, has acquired Hillside Village Apartments, a multifamily property located in San Bernardino. A private seller sold the property for $11 million. Located at 2196 Kendall Drive, the property features 80 apartments in a mix of one- and two-bedroom layouts with private balconies or patios, a pool, spa, fitness center and laundry facilities. Warren Berzack and Slavic Zlatkin of Lee & Associates represented the buyer and seller in the transaction.
PORTLAND, ORE. — CBRE has brokered the sale of a residential and office building located in Portland’s Cultural District. W.H.J. Holdings LLC sold the property to Harsch Investment Properties for $10 million. Located at 1111 SW 10th Ave., the five-story, 66,074-square-foot building is currently occupied by Morrison Child and Family Services, a nonprofit that provides specialized services to children who have experienced trauma or adversity. Built in 1958 and renovated in 2002, the former YWCA building currently features on-site parking, a full gym, pool and cafeteria. Trevor Kafoury of CBRE represented the seller in the deal.
CRAIG, COLO. — Marcus & Millichap has brokered the purchase of Golden Arms Apartments, an apartment building located in Craig. A private investor acquired the property for $2.5 million. Jason Hornik of Marcus & Millichap represented the buyer in the transaction. Built in 1979, the 55,960-square-foot building features 40 two-bedroom/one-bath units and 24 three-bedroom/one-bath units. Additionally, the property features a variety of upgrades including new exterior paint, landscaping, a resurfaced parking lot, a new storage shed, guttering and fencing, laundry room broiler and updated laundry room equipment.
DENVER — Scott Development Group has completed the sale of an industrial facility located on a 4.5-acre site at 10777 E. 45th Ave. in Denver’s Montebello submarket. 3939 Williams Building Corp. acquired the property for $6 million. The property features 57,000 square feet of manufacturing and distribution space. Nick Schill of Pinnacle Real Estate Advisors represented the seller in the transaction.
COLORADO SPRINGS, COLO. — Newmark Knight Frank (NKF) has arranged the acquisition of an office property located in Colorado Springs. GOG Properties LLC purchased the property from 1555 GOG LLC for $4.7 million. Located at 1555 Garden of the Gods Road, the property features 39,597 square feet of office space. Simon Penner of NKF represented the buyer, while NAI Highland represented the seller in the deal.
ALCOA, TENN. — SRS Real Estate Partners has arranged the sale of Hamilton Crossing, a 175,464-square-foot shopping center located in the Knoxville suburb of Alcoa. The property was 95 percent leased at the time of sale to tenants including Dick’s Sporting Goods, Ross Dress for Less, Michaels, PetSmart, Old Navy, Shoe Carnival, Buffalo Wild Wings, AT&T and Five Guys. Kyle Stonis, Pierce Mayson and Steve Miskew of SRS represented the undisclosed seller in the transaction. The buyer and terms of the sale were also not disclosed.
EL PASO, TEXAS — NorthMarq Capital has brokered the sale of two multifamily assets totaling 391 units in El Paso. Las Vegas-based MKL Capital Group LLC purchased the 232-unit Indian Springs from Arizona-based Talos Holdings LLC, and a Los Angeles-based private investment firm acquired the 159-unit Desert Peaks from SCP El Paso LLC. Indian Springs offers a business center and fitness center, and Desert Peaks includes a basketball court. Both communities feature pools and dog parks. Bill Hahn, Trevor Koskovich and Jesse Hudson of NorthMarq represented the buyers and sellers in both deals.
SAN ANTONIO — JLL has negotiated the sale of 333 Place Apartments, a 48-unit multifamily community located near the Pearl Brewery in San Antonio. The property offers one- and two-bedroom units, as well as a pool and onsite laundry facilities. The buyer, Austin-based Joseph Cos., will implement a capital improvement program to the unit interiors that features smart-home technology and stainless steel appliances. Zar Haro, Moses Siller and Robert Arzola of JLL brokered the deal. The seller was not disclosed.
NEW YORK CITY — Marcus & Millichap has negotiated the $4.1 million sale of a multifamily building in the Carroll Gardens neighborhood of Brooklyn. Located at 306 Union St., the 4,620-square-foot property includes four units. Shaun Riney, Michael Salvatico and John Barney of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
WILSONVILLE, ORE. — MG Properties Group has acquired two multifamily properties in Wilsonville, a suburb of Portland, for a total of $92.1 million. The company acquired Domaine at Villebois, a 274-unit property built in 2008, from a partnership between Holland Partner Group and Hetiman for $69.5 million and the 126-unit Haven at Charbonneau, built in 1990, from TruAmerica Multifamily for $22.6 million. Both properties feature a mix of floor plans and a variety of on-site amenities, including outdoor pools and hot tubs, fitness centers and updated clubhouses. Ira Virden and Carrie Kahn of HFF represented the sellers in the deal. Charles Halladay, Rick Salinas, Scott Gilson and Charlie Wilson of HFF arranged financing for the acquisition. MG Properties has purchased 12 properties in the past 12 months, totaling more than 3,200 units and over $880 million in combined valued. The company is targeting additional acquisitions in Washington, Oregon, Arizona, California, Colorado and Nevada.