SEATTLE — Regency Centers Corp. has acquired Roosevelt Square, a 150,000-square-foot, multi-level shopping center in Seattle. The Puget Sound Business Journal reports TH Real Estate, an affiliate of Nuveen, sold the asset for $68.3 million. Whole Foods Market anchors the center, which was fully leased at the time of sale to tenants such as Dania Furniture, Umpqua Bank, Starbucks Coffee, Mattress Firm and Bartell Drugs Store.
DENVER — HFF has arranged the $20 million sale of Tamarac Shopping Center, a 68,534-square-foot retail center in Denver. Chad Murray, Mark Williford and Bryan Ley of HFF arranged the transaction on behalf of the seller, DDR Corp. Tamarac Shopping Center 17 A LLC acquired the property, which was fully leased at the time of sale. Target shadow-anchors the center, which includes three single-tenant buildings triple-net-leased to Chick-fil-A, Benihana and Bank of the West, as well as a 33,099-square-foot strip center with 12 tenants including anchor Ace Hardware.
NEW YORK CITY — Ariel Property Advisors has arranged the sale of a multifamily building located at 143-48 41st Ave. in the Flushing neighborhood of Queens. An undisclosed buyer acquired the six-story property for $14.1 million. The 56,000-square-foot building features 53 apartment units. Victor Sozio, Shimon Shkury, Michael Tortorici and Jesse Greshin of Ariel Property Advisors represented the undisclosed seller and secured the buyer in the deal.
MINNEAPOLIS — CBRE has arranged the sale of 25 medical office buildings owned by IRET (NYSE: IRET) to Harrison Street Real Estate Capital LLC for $367.7 million. Most of the properties are located in the Twin Cities metro area, with additional facilities in central Minnesota, Montana, North Dakota, Nebraska and Wisconsin. Chris Bodnar and Lee Asher of CBRE partnered with BMO Capital Markets to serve as advisors on the sale. The transaction follows a November announcement by IRET that the company had entered into a purchase and sale agreement to sell its entire healthcare portfolio, which totals 29 properties. The Minot, North Dakota-based company plans to complete the sale of its remaining healthcare-related properties over the next six months as part of its transition to a multifamily-focused company, according to IRET.
MADISON, ALA. — Cushman & Wakefield has arranged the $37 million sale of Madison Park, a 308-unit apartment community in Madison, a city in northern Alabama. Jimmy Adams and Craig Hey of Cushman & Wakefield represented the seller, WCDM Development, in the transaction. Hayden Properties acquired the property. Constructed in 2008, Madison Park includes one- to three-bedroom units, and features a fitness center, on-site storage units, picnic area, pool, business center, package service and private garages.
GREENVILLE, N.C. — A joint venture between FM Capital, Gottlieb Family Partners and AMAC Holdings has acquired Captain’s Quarters, a 1,692-bed student housing community located near East Carolina University in Greenville, for $17.7 million. Howard Jenkins of CBRE | Raleigh, along with the CBRE Southeast Multifamily Carolinas Group and CBRE | Student Housing, arranged the transaction on behalf of the seller, LNR. The property is set to undergo renovations and rebranding. The community will be renamed Paramount 3800. The property spans 38 buildings and features three resort-style pools with outdoor lounging and dining areas, two clubhouses, a full-court basketball gymnasium, double sand volleyball courts, a dog park, fitness center, theater room, computer lab and multiple private and group study rooms. The Preiss Co. will manage the property.
MINNEAPOLIS — PCCP and Capital Partners LLP have formed a joint venture to acquire a 1.2 million-square-foot industrial portfolio in metro Minneapolis. The purchase price was not disclosed. Artis, a Canada-based REIT, sold the seven-property portfolio, which is 82 percent leased. The assets feature a mix of bulk warehouse, light industrial and flex product types. The properties include France Avenue Business Park (Brooklyn Center), Northpoint Industrial Center (Fridley), Eagan Industrial Warehouse (Eagan), Corporate Square (Eagan), Braemar Business Center (Bloomington), Burnsville Business Center (Burnsville) and Round Lake Business Center (Arden Hills).
SAINT LOUIS PARK, MINN. — Marcus & Millichap has arranged the sale of Tamarind Apartments in Saint Louis Park near Minneapolis for $15.6 million. The 102-unit apartment property is located at 2300 Ridge Drive. Built in 1986, the property features one- and two-bedroom units. The community was 100 percent occupied at the time of sale. Mox Gunderson, Dan Linnell and Josh Talberg of Marcus & Millichap represented the seller, a local partnership. The team also secured the undisclosed buyer.
CASHMERE, WASH. — Senior Living Investment Brokerage has arranged the sale of Cashmere Convalescent Center, a 65-bed skilled nursing facility in Cashmere, located between Seattle and Spokane. The price was not disclosed. A regional owner-operator based in Idaho purchased the property, seeking to expand its footprint beyond the northern Rocky Mountain region. The 21,820-square-foot facility sits on four acres of land, leaving room for future expansion. Jason Punzel, Brad Goodsell and Nick Cacciabando of Senior Living Investment Brokerage handled the transaction.
OCEANSIDE, CALIF. — Quarry Creek Investors has completed the disposition of Quarry Creek Plaza, a retail center located at 3460 and 3480 Marron Road in Oceanside. Completed in 2003, the 15,690-square-foot property is 92.6 percent leased to a variety of tenants, including Jamba Juice, Subway, Los Tacos, Poki Poki, Supercuts, American Dry Clean, Happiness Nails and Smashburger. Gleb Lvovich of HFF, along with Mike Moser of Retail Insite, represented the seller. Terms of the transaction and the name of the buyer were not released.
