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IPA Negotiates Sale of 306-Unit Apartment Community in Red Oak, TexasRED OAK, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Emerson at Red Oak, a 306-unit apartment community in Red Oak, a southern suburb of Dallas.
Representative imageJLL Brokers Sale of 113,823 SF Shopping Center in North DallasDALLAS — JLL has brokered the sale of Pavilion on Lovers Lane, a 113,823-square-foot shopping center in North Dallas.
Waterton Acquires Franklin Apartments at DiscountWaterton paid $128.11 million for Franklin’s Wyndchase Aspen Grove development, a high price to pay for a rental community. Despite the sale price, the Nashville Business Journal reports that the seller, Berkshire Residential Investments, lost money on the deal.
Representative imageCabot Properties Sells 2.5 MSF Industrial Portfolio in Chicago, Minneapolis MarketsCHICAGO AND MINNEAPOLIS — Cabot Properties has sold the North Central Portfolio, a collection of 11 industrial buildings totaling roughly 2.5 million square feet across the greater Chicago and Minneapolis markets.
Hendon Properties Acquires 734,199 SF Shopping Center in Parma, OhioPARMA, OHIO — Hendon Properties, in a joint venture with Axiom Realty and Peaceable Street Capital, has acquired The Shoppes at Parma in the Cleveland suburb of Parma.
McColly Bennett Negotiates $15M Sale of Medical Office Building in Valparaiso, IndianaVALPARAISO, IND. — McColly Bennett Commercial Advantage has negotiated the $15 million sale of a 43,500-square-foot medical office building in Valparaiso. The seller, Viking Medical Center, acquired and envisioned the future of the unfinished building two years ago.
Representative imageMatthews Negotiates $4.4M Sale of Mixed-Use Portfolio in Clifton, New JerseyCLIFTON, N.J. — Nashville-based brokerage firm Matthews has negotiated the $4.4 million sale of a portfolio of three contiguous mixed-use buildings totaling 14,500 square feet in the Northern New Jersey community of Clifton. The buildings at 233, 235 and 237 Dayton Ave.
Representative imageUSA Properties, Strand Financial Sell 293-Unit Talavera Multifamily Community in Folsom, CaliforniaFOLSOM, CALIF. — USA Properties and Strand Financial has sold Talavera, a 293-unit apartment property in Folsom, located outside of Sacramento. New York-based Sentinel Real Estate acquired the property for an undisclosed price.
Nordic Partners Investments Acquires 107-Unit Monticello Apartments in SeattleSEATTLE — Nordic Partners Investments has acquired Monticello, a 107-unit apartment building located at 415 Boren Ave. in Seattle’s First Hill neighborhood, for an undisclosed price. Built in 1957, Monticello spans 42,342 net rentable square feet.
LevRose Commercial Arranges $5.2M Sale of Industrial Flex Building in Mesa, ArizonaMESA, ARIZ. — LevRose Commercial Real Estate has arranged the $5.2 million sale of an industrial flex property located at 4220 E. McDowell Road in Mesa. The 2.3-acre site houses a 20,544-square-foot industrial flex building that was built in 2006.
CBRE Completes Receivership Sale of Santa Monica ApartmentsCBRE arranged the sale of 901 Ocean Ave., a 28‑unit coastal multifamily investment property located along Santa Monica’s Ocean Avenue corridor.
Marcus & Millichap Arranges Sale of Multifamily Portfolio in IllinoisMarcus & Millichap announced the sale of a 134-unit multifamily portfolio in Berwyn and Maywood, Illinois.
Delshah Capital Acquires Five Upper West Side Apartment Buildings for $37MMichael Shah’s Delshah Capital is back at it again with another multi-address, multifamily acquisition.
Blackstone Sells $1B Industrial Portfolio To Atlanta-Based InvestorAn Atlanta-based real estate investment firm is adding $1B in warehouses and distribution centers to its portfolio from Blackstone's Link Logistics.
Torchlight Investment Provides $52M Acquisition Debt, Equity for Indianapolis AssetHudson Investing has secured $52.1 million in acquisition financing for Maple Knoll Apartments, a 300-unit garden-style multifamily complex just outside Indianapolis, Ind., Commercial Observer can first report.
Waterton Sells 400-Unit LV Apartment Complex for $87MWaterton has sold Mirasol Apartment Homes, a 400-unit asset in Las Vegas, for $87 million. Tishau Holdings Properties acquired the property.
Newmark Arranges Sale of 452-Unit Apartment Community in East Fort WorthFORT WORTH, TEXAS — Newmark has arranged the sale of Centreport Lake, a 452-unit apartment community in East Fort Worth. Built on 24 acres in 2008, the property offers one-, two- and three-bedroom apartments with an average unit size of 946 square feet.
Representative imageMarcus & Millichap Brokers $7.5M Sale of Multifamily Property in Midtown ManhattanNEW YORK CITY — Marcus & Millichap has brokered the $7.5 million sale of a multifamily property in the Times Square submarket of Midtown Manhattan. The two-building, 12,675-square-foot property at 140-142 W. 46th St.
Sares Regis Sells 195-Unit Celeste Apartments in South San FranciscoSAN FRANCISCO — Sares Regis Group of Northern California, along with an institutional equity partner, has sold the 195-unit Celeste Apartments in South San Francisco. North Carolina-based Bell Partners purchased the property on behalf of its Bell Growth & Income Fund investors.
Marcus & Millichap Brokers $12.5M Sale of Affordable Seniors Housing Property in Southern CaliforniaLA MESA, CALIF. — Marcus & Millichap has brokered the $12.5 million sale of Guava Gardens, an affordable seniors housing property in La Mesa. Los Angeles-based Positive Investments was the buyer.