sales_and_leases

SVN|Parsons Commercial Arranges Sale of 21,060 SF Industrial Building in North Andover, Massachusetts

by Amy Works September 21, 2017

NORTH ANDOVER, MASS. — SVN|Parsons Commercial Group|Boston has brokered the sale of an industrial property located at 1429 Osgood St. in North Andover. School of Leadership-Afghanistan sold the property to Oliver Enterprises for an undisclosed price. The new owner, a full-service landscape design and construction company, will relocate to the 21,060-square-foot property from Woburn, Mass. Alex Berger and Matt Quinlan of SVN|Parsons Commercial represented the seller, while Steve Donahue of Donahue Associates represented the buyer in the deal.

September 21, 2017

California Multifamily Seniors Housing Western

Sabra to Acquire Minority Interest in 183-Property Enlivant Portfolio for $371M

by Nellie Day September 20, 2017

IRVINE, CALIF. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has agreed to acquire a 49 percent equity interest in entities that collectively own 183 seniors housing communities, all of which are operated by Enlivant. The transaction values the portfolio at $1.62 billion and Sabra’s investment at $371 million. Enlivant is owned by funds managed by private equity firm TPG, which will remain the 51 percent majority owner. Sabra noted, however, that it plans to eventually move toward full ownership of the portfolio over the next three years. The portfolio’s 8,280 units are spread across 20 states and are nearly all private pay. The properties are currently 82 percent occupied. This is an increase from 60 percent in 2013, when TPG acquired troubled operator Assisted Living Concepts and installed Enlivant as the new operator of the portfolio. Sabra, a publicly traded REIT based in Irvine, noted that the acquisition will help diversify its tenant portfolio. Following the transaction, the amount of private-pay seniors housing in Sabra’s portfolio will rise from 16.8 percent to 24.3 percent, while its skilled nursing exposure will fall from 71.1 percent to 64.7 percent. Enlivant is the 10th largest operator of seniors housing in the United …

September 20, 2017

California Office Western

Irvine Co. Purchases 127,000 SF Office Project in Del Mar Heights

by Nellie Day September 20, 2017

SAN DIEGO — The Irvine Company has purchased Township 14, a 127,000-square-foot office project in the San Diego submarket of Del Mar Heights, for an undisclosed sum. The two-building asset is situated near Del Mar Highlands Town Center, Highway 56 and Interstates 5 and 805. Township 14 opened on six acres in the 1980s as Del Mar Corporate Plaza. It underwent significant redevelopment in 2014. It was renamed after the plot of land first established in the 1880s that later became known as Del Mar. Amenities include a fitness center, café, regular food trucks and floor-to-ceiling glass for maximum daylight and energy efficiencies that lower costs. Eastdil Secured represented both the buyer and the seller, TH Real Estate, in this transaction.

September 20, 2017

Arizona Industrial Western

CapRock Partners Buys 110,710 SF Manufacturing Facility in Phoenix for $8M

by Nellie Day September 20, 2017

PHOENIX — CapRock Partners has purchased a 110,710-square-foot manufacturing facility in Phoenix for $8 million. The building is situated on 5.8 acres just east of Phoenix Sky Harbor International Airport. The asset features 30-foot clear height, 22 dock-high loading doors and two 20-foot-wide, grade-level doors. Plans are underway to transition the property to Class A space by upgrading the interior and exterior. Stein Koss and Tom Louer of Lee & Associates represented both the buyer and seller, Madison 225 LLC.

September 20, 2017

Georgia Multifamily Southeast

Cushman & Wakefield Arranges $76.5M Sale of Three Multifamily Assets in Metro Atlanta

by Camren Skelton September 20, 2017

NORCROSS AND PEACHTREE CORNERS, GA. — Cushman & Wakefield has arranged the $76.5 million sale of three apartment communities in Gwinnett County near Atlanta. Mike Kemether and Tyler Averitt of Cushman & Wakefield represented the seller, Audubon Communities, in the transaction. Sabra Property Management acquired Bella, a 318-unit community in Norcross; Hathaway Development LLC acquired Center at Peachtree Corners, a 272-unit community in Peachtree Corners; and Zavala Properties acquired Summit at Dawson, a 162-unit community also in Norcross. Each property has a full suite of modern amenities and features oversized floor plans.

September 20, 2017

Alabama Multifamily Southeast

Coastal Ridge, M Group Purchase Apartment Community in Birmingham for $40M

by Camren Skelton September 20, 2017

BIRMINGHAM, ALA. — Coastal Ridge Real Estate, in partnership with M Group, has acquired The Village at Lakeshore Crossings, a 264-unit apartment community located at 251 London Parkway in Birmingham, for $40 million. A Philadelphia-based private investor sold the property. Constructed in 2013, The Village at Lakeshore Crossings offers one-, two- and three-bedroom units with rents ranging from $1,067 to $1,512. Individual units feature hardwood floors, granite countertops and private porches. Community amenities include a resort-style swimming pool, outdoor kitchen with a gas grill, outdoor fire place with a lounge area, lighted tennis court, clubhouse, media room, fitness room, pet park and a pet wash station.

September 20, 2017

Multifamily Texas

Arch Street Brokers Sale of 417-Unit Apartment Community in Metro Dallas

by Taylor Williams September 20, 2017

EULESS, TEXAS — Arch Street Capital Advisors, a Connecticut-based investment advisory firm, has brokered the sale of Suite 2801, a 417-unit apartment community located in the Dallas metro of Euless. Built in 2013, the Class A property offers a mix of one-, two- and three-bedroom units and amenities such as two pools, a fitness center and a residential clubhouse. Arch Street represented the buyer, a joint venture between an institutional investor and Atlanta-based Cortland Partners, in the transaction

September 20, 2017

North Carolina Office Southeast

Foundry Commercial, Hart Realty Acquire Office Campus in Research Triangle Park for $24.2M

by Camren Skelton September 20, 2017

MORRISVILLE, N.C. — Foundry Commercial, along with capital partner Hart Realty Advisers LLC, has purchased Concourse Lakeside I and II, a two-building office campus in the Raleigh-Durham community of Morrisville, for $24.2 million. Ryan Clutter, Scott Humphrey and Chris Lingerfelt of HFF represented the seller, a partnership between an affiliate of Banyan Street Capital and funds managed by Oaktree Capital Management. The HFF team also procured the buyer. Foundry and Hart plan on updating the 154,552-square-foot office campus to include base building upgrades and additional amenities. Located within the Research Triangle Park submarket, Concourse Lakeside has direct access to Interstates 40 and 540. At the time of sale, the portfolio was 89 percent leased to tenants including Aetna Life Insurance Co., The Redwoods Group and TransAmerica.

September 20, 2017

Office Texas

Stream Negotiates 15,198 SF in Office Leases in Dallas

by Taylor Williams September 20, 2017

DALLAS — Stream Realty Partners has negotiated two office leases totaling 15,198 square feet at 5050 Quorum Drive in Dallas. Ryan Evanich, Chase Lopez and Jackie Smith of Stream represented the landlord, New York-based DRA Advisors, in its lease negotiations with the new tenants, Josh DeShong Real Estate and law firm Pratt, Aycock & Associates PLLC. The two firms will occupy the sixth floor of the building, which DRA Advisors recently renovated to feature an on-site fitness center, conference center and a tenant lounge.

September 20, 2017

Industrial Texas

Titan Developers Acquires 25,000 SF Flex Property in Metro Austin

by Taylor Williams September 20, 2017

CEDAR PARK, TEXAS — Titan Developers has acquired a 25,000-square-foot office/industrial property within Scottsdale Crossing Phase III, located at 1505 Volta Drive in the Austin metro of Cedar Park. Matt Levin of Equitable Commercial Realty (ECR) represented Titan in the transaction. The seller, TIG, was represented internally by Tom Pardee.

September 20, 2017

Newer Posts

Older Posts