MINNEAPOLIS — Marcus & Millichap has brokered the $9 million sale of Dean Parkway, a 54-unit apartment property located at 2920 Dean Parkway in Minneapolis. Josh Talberg, Mox Gunderson, Dan Linnell and Adam Haydon of Marcus & Millichap represented the undisclosed seller. Talberg also represented the undisclosed buyer.
PITTSBURGH — Laurus Corp. has acquired the DoubleTree by Hilton Hotel – Green Tree in Pittsburgh for an undisclosed price. The 460-room property recently underwent a $20 million top-to-bottom makeover and Laurus plans to invest $7 million to improve customer experience at the hotel by enhancing operations, delivering top-tier culinary experiences across the hotel’s existing restaurants and opening Asado Grill restaurant. The hotel features 40,000 square feet of flexible, multi-functional meeting space and a 13,000-square-foot indoor athletic training center. The hotel will be managed by TPG Hospitality. The name of the seller was not disclosed.
SHREVEPORT, LA. — Dallas-based Venture Commercial Real Estate has brokered the sale of Shoppes at Bellemead, an upscale, 79,328-square-foot shopping center located at the northeast quadrant of Youree Drive and East 70th Street in Shreveport. The property’s tenant roster includes Talbots, Chico’s, Ann Taylor Loft, White House Black Market, J. Jill, Soma and Charming Charlie. Jonathan Cooper, Christopher Gibbons, Don Miller, John Zikos and Cheryl Hill of Venture Commercial, along with Shreveport-based Vintage Realty Co., brokered the transaction. An undisclosed buyer purchased Shoppes at Bellemead from WFB/Shoppes at Bellemead LLC, a partnership involving Vintage Realty Co., for an undisclosed price.
DENVER — An unnamed buyer has purchased an 18-unit apartment building in Denver for $2.1 million. The community is located at 1560-1570 Albion St. It was built in 1958. Joe Hornstein and Scott Fetter of Pinnacle Real Estate Advisors represented both the buyer and the seller in this transaction.
WALTHAM, MASS. — The Davis Companies has acquired two Class A office buildings, located at 1025 and 1075 Main St. in Waltham. An affiliate of KBS Real Estate Investment Trust Inc. sold the 303,460-square-foot asset for $52.5 million. Originally built in 1980, the property is currently occupied by Citizens Disability and The Cambridge Institute of International Education. On-site amenities include a cafeteria, fitness center and parking. HFF represented the seller and procured the buyer in the transaction. Additionally, HFF arranged a seven-year acquisition loan for the buyer through Brookline Savings Bank and First Niagara Bank. Coleman Benedict and Ben Sayles of HFF represented the seller in the deal. Riaz Cassum and Brett Paulsrud, also of HFF, led the HFF debt placement team for the financing. Gramercy Property Trust, as asset manager, advised KBS on the transaction.
ROSEMONT, ILL. — CBRE has brokered the sale of the 380,360-square-foot One O’Hare Center in Rosemont, a northwest Chicago suburb. A partnership between MDC Realty Advisors and Nicola Crosby acquired the property for $83 million. Paul Lundstedt and Dan Deuter of CBRE represented the ownership group in the transaction. The 12-story office building was built in 1986 and is currently 95 percent leased. The building houses 24 tenants including Reyes Holdings and Colliers International. Amenities of the office building include a fitness center, covered parking, on-site cafe and a shuttle service.
JOHNS CREEK, GA. — The Shoptaw Group (TSG) has purchased St. Andrews Apartments, a 228-unit luxury multifamily community located in the affluent Atlanta suburb of Johns Creek. The company plans to renovate the property’s interior units upon completion of the purchase. Patterson Real Estate Advisory Group arranged a $27 million, floating rate acquisition loan through MetLife on behalf of TSG.
WYANDOTTE, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 9,080-square-foot retail building located at 1079-1081 Fort St. in Wyandotte, a southern Detroit suburb. Emanuel and Joy Pasquini LLC sold the building to Wheeler’s Complete Auto Care for an undisclosed price. Wheeler’s Complete Auto Care is currently located in Lincoln Park, and the property was purchased for business expansion. Greg Hornby of Farmington Hills, Mich.-based Friedman represented both the buyer and seller in the transaction.
AURORA, COLO. — Oak Coast Properties and BMC Investments have acquired the 548-unit Liberty Creek Apartments in Aurora for $65 million. The community is located at 13100 E. Kansas Drive. The partners plan to invest $3 million to extensively renovate and reposition the property. Liberty Creek Apartments was originally built in 1981. It is currently more than 99 percent occupied. The pet-friendly community includes five basketball courts, three swimming pools, a sand volleyball court, three playgrounds, picnic and barbecue areas, a fitness center, a clubhouse and business center, a laundry facility, on-site security patrol and covered parking. Liberty Creek is in close proximity to Aurora Town Center, Market Square, Anshutz Medical Campus, Kaiser Center Pointe and Denver International Airport.
PORTLAND, ORE. — KeHE Distributors has leased a 383,040-square-foot facility at PDX Logistics Center I in Portland. Capstone Partners and PCCP are developing the logistics center, which will be built in two phases. The property will eventually include two spec buildings totaling 848,400 square feet. PDX Logistics Center I is within the Portland International Center, which is owned by the Port of Portland. Both buildings are fully leased.Jerry Matson and Paul Breuer of Colliers International represented the landlord in this lease transaction.
