NEW YORK CITY — Locally based investment firm Davean Holdings has purchased a portfolio of three multifamily buildings totaling 19 apartments in Manhattan’s East Village area for $25.5 million. The portfolio includes seven commercial spaces. The buildings were completed between 1900 and 1920 and comprise 15 market-rate units and four rent-stabilized apartments. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of local brokerage firm Rosewood Realty Group represented both Davean Holdings and the seller, the Halegua Family, in the off-market deal.
GREENSBORO, N.C. — CBRE has negotiated the sale of Airpark East, a 229,184-square-foot flex/office park in Greensboro that comprises 13 buildings. A joint venture between Somerset Properties and Ten Capital Management purchased the park for $20.8 million. Patrick Gildea, Matt Smith, Grayson Hawkins and Reggie Beeson of CBRE represented the undisclosed seller in the transaction. Airpark East was 87.8 percent leased to 31 tenants at the time of the sale, according to CBRE.
GEORGETOWN, KY. — Stan Johnson Co. has arranged the $15 million sale of Washington Square, a 122,554-square-foot shopping center located at 1002 Lexington Road in Georgetown. Ryan Roedersheimer of Stan Johnson Co.’s Cincinnati office represented the seller, a Lexington-based investment firm, in the transaction. The buyer is a private investment firm based in Austin. Washington Square was built in 1972 and is situated on a heavily trafficked corner spanning 13.9 acres about 10 miles north of Lexington. The property was fully leased at the time of sale to tenants including anchor LifePoint Health.
ITASCA, ILL. — NAI Hiffman has brokered the sale-leaseback of a 251,909-square-foot warehouse in the Chicago suburb of Itasca for $36 million. The property is located at 1455 W. Thorndale Ave., about five miles west of the O’Hare International Airport. Patrick Sullivan and Eric Tresslar of NAI Hiffman represented the seller, Top-Line Furniture, which subsequently entered into a long-term lease for the property. High Street Logistics Properties was the buyer.
ALPHARETTA, GA. — Northland, a private equity investor based in Newton, Mass., has purchased Emblem Alpharetta, a 210-unit active adult community in the north Atlanta suburb of Alpharetta. Situated on seven acres, the property was fully occupied at the time of sale and represents the fourth Georgia acquisition for Northland this year but the first active adult acquisition in its portfolio. The seller and sales price were not disclosed. Emblem Alpharetta comprises one- and two-bedroom apartments in a four-story building that centers around a resort-style pool and sundeck. Units are reserved for households age 55 and older. Amenities include a fitness center, bocce ball court and outdoor entertaining spaces. Northland plans to invest $3 million in capital improvements at Emblem Alpharetta over the next four years.
TEMPE, ARIZ. — CBRE has negotiated the sale of a freestanding warehouse property situated on 3.3 acres at 3001 S. Wilson St. in Tempe. Bio Huma Netics purchased the asset from Tempe-based Phoenix Plastics Products for $10.5 million. Built in 2004, the 40,182-square-foot building features 3,000 amps, 277/480-volt electrical service, 24-foot to 40-foot clear heights and Union Pacific rail service. Mike Parker of CBRE represented the buyer and seller in the deal.
SAN MARCOS, TEXAS — International investment firm Walton Global has sold a 681-acre development site located along State Highway 142 in the Central Texas city of San Marcos. The buyer, SafeHand Holdings LLC, plans to develop both residential and commercial space at the site, which is known as Turner Crest but did not disclose specific components or construction timelines. Richard Harmon of TRE Commercial represented the buyer in the land deal.
LENEXA, KAN. — A joint venture between affiliates of Cantor Fitzgerald LP and BH Cos. Inc. has acquired West End at City Center in Lenexa. The 309-unit apartment complex is situated within walking distance of Lenexa City Center, a 200-acre development featuring a mix of retail, restaurant, entertainment, multifamily and hospitality space. Built in 2009, the property features one-, two- and three-bedroom units with an average size of 970 square feet. Amenities include a fitness center, pool, business center and picnic area. As of late July, the community was nearly 96 percent leased. Mac Crowther and Whittaker Potts of Newmark brokered the transaction, which marks the seventh multifamily acquisition by the joint venture. The seller and sales price were undisclosed.
RUSSELLVILLE, ARK. — Mid-America Real Estate Corp. has brokered the sale of Valley Park Centre, a 282,608-square-foot regional shopping center in Russellville, a town within the Arkansas River Valley region. Dallas-based The Woodmont Cos. purchased the big-box retail center for an undisclosed price. Ben Wineman of Mid-America, along with Hank Kelley of Kelley Commercial Real Estate Partners, represented the seller, a joint venture between Atlanta-based RCG Ventures and an unnamed investment partner based in New York City. Valley Park Centre was 95 percent leased at the time of sale to tenants including T.J. Maxx, Ross Dress for Less, Belk, JC Penney, Shoe Carnival, Hibbett Sports, Hobby Lobby, PetSmart and Five Below.
GAINESVILLE, FLA. — Cushman & Wakefield has arranged the sale of a five-property multifamily portfolio in Gainesville totaling 582 units. Nick Meoli and Mike Donaldson of Cushman & Wakefield represented the seller, a joint venture between Platform Management Group and Excelsa Properties, in the transaction. The buyer, a joint venture between LYFE Properties Group and Skywood Properties, purchased the portfolio for $89.5 million. Dubbed the “Archer Road Portfolio,” the assets were built between 1971 and 1983 and include The Commons, a 99-unit community located at 2001 SW 16th St.; The Lofts, a 74- unit community located at 3020 SW Archer Road; The Park, a 99-unit community located at 3643 SW 20th Ave.; The Point, a 140-unit community located at 3100 SW 35th Place; and The Trails, a 170-unit community located at 3230 SW Archer Road.