The company purchased Brantley Pines, a 296-unit property in Fort Myers, Fla. from The Inland Real Estate Group of Companies for $192,568 a unit. Inland performed extensive upgrades on the property before selling. Interface said it will continue those renovations and also add a walking path and improving the clubhouse, pool area and landscaping.
Shannon Life Sciences acquired Elm Street Labs, a three-story, 74,700-square-foot property located at 23 Elm St. in Cambridge. Shannon Life will use the office as its headquarters starting in 2025. The seller was The Triad Group, who will serve as development manager for Shannon and oversee improvements to the building.
A JV between South Duvall and Alidade Capital acquired MedPharm's roughly 96,000-square-foot biomanufacturing facility at 4018 Stirrup Creek Dr. in Durham. MedPharm acquired the building in 2019, for an undisclosed price, and will continue to be its sole tenant.
A JV between Edgewater Ventures and Northridge Capital acquired Landmark at North Hills, a two-building complex at 4601 Six Forks Rd. The seller was BGO on behalf of institutional investor Sun Life Assurance Company of Canada. Sun Life acquired the building in 2006 for $21.9 million. Landmark at North Hills was built in 1984 and is 84% occupied with tenants including Prometheus Group, Wrbz sports radio, South Bank and Shopping Center Group.
The agency acquired 450 Hank Aaron Dr., a 3.25-acre property home to a shuttered and gutted Ramada Plaza hotel. The U.S. Department of Housing and Urban Development still needs to approve the purchase, which could take 30 days. Atlanta Housing intends to keep the hotel structure but redevelop it into a 231-unit affordable apartment complex for seniors. The seller, Pellerin Real Estate, purchased the property in 2020 for $13.4 million.
The company bought the 37,500-square-foot building at 10055 Northwest 41 St. The building houses an L.A. location, which has been the sole tenant since 2001, and will remain so until 2031. The seller was an entity managed by Alex Kurkin, who purchased the complex for $9.8 million in 2014.
The retailer purchased the property, which includes a Walmart Neighborhood Market, at 2750 Highway 55. The retail property is 8.18 acres and has an assessed value of $10.2 million. The seller of the property was Realty Income Corporation.
The company bought the 67,500-square-foot industrial building at 3760 Kimwell Dr., located in the Stratford Industrial Park, was sold by Kimwell Drive Properties NC. This is the fifth time the building has sold in eight years. The bulding is fully leased to a single company, Divert, a company which turns food waste into an energy resource.
A JV between Cain International and OKO Group will use the long-term loan to pay off 830 Brickell's existing $300 million construction loan. Portions of the loan will also go to finish up the office tower, which is not officially open but has tenants and a temporary certificate of occupancy. 830 Brickell has 640,000 square feet of office space and amenities including a bar and private club on the top floor, a conference facility, a health and wellness center, plus a 24-hour bar and private club.
The company landed $33.6 million in JV equity and a $51.4 million construction loan to redevelop West End II, a multifamily property in the West End neighborhood of downtown Raleigh, N.C. The 252-unit project is located at 510 W. Cabarrus St. Currently being extensively renovated, West End II offers one-, two- and three-bedroom units with amenities including a fitness lawn with a resort-style sundeck, a 24-hour mail room, an indoor and outdoor fitness center, and coworking spaces and conference rooms.
A JV between Triangle Equities and Goldman Sachs Urban Investment Group secured the loan to refinance Terminal Logistics Center, an industrial space in Queens. The warehouse was constructed in 2021. Located at 130-02 South Conduit Ave. in Jamaica, Queens, the five-story building serves as both an industrial warehouse and a self-storage center.
Habitat Group and BI Group purchased the development site in Miami's Brickell Financial District from HS Brickell Lodging. The 30,000-square-foot site is located at 1750 S.W. First Ave. and last traded for $10.25 million in 2019. The buyers will develop this site into a 164-unit hotel/condo featuring a rooftop pool deck overlooking nearby Simpson Park.
Villanova expects to reopen the 112-acre campus in the fall of 2026. The campus was sold in two pieces, a $10 million deal with the Missionary Sisters of the Sacred Heart of Jesus for the campus and its land and a $1.505 million deal with Cabrini University for a smaller parcel at 1272 Upper Gulph Rd. Cabrini University shuttered in 2023, noting financial challenges.
The company bought Heritage Plaza, a 26,403-square-foot retail center located in New Fairfield. Tenants at the property, which was fully leased at the time of sale, include First Step Pre-School and New Fairfield Animal Hospital. The seller of the 2023-renovated center was undisclosed.
The Miami Beach Historic Preservation Committee voted to allow the building owner to renovate the Riviera Plaza Apartments at 337 20th St. to a five-star boutique hotel. The residents have 60 days to find another place to live. The structure, built in 1926, was originally a hotel until it was converted into apartments later. Owners Diana and Rene Gerdom bought the property for $41.3 million in 2015, with renovations to cost $22 million.
The retailer purchased the 33-acre complex, called TransDulles Centre 2, at 45900, 45930 and 45950 Pathfinder Plaza in Sterling, Va. An unnamed fund sold the property, which includes three buildings covering 442,000 square feet. Amazon, who already owns multiple data centers in the state, was already occupying the data centers under a lease.
First Washington Realty sold Harbour Pointe Village, a 123,772-square-foot grocery-anchored shopping center in Midlothian, Va., to its anchor tenant, Publix Supermarkets. The property previously traded in 2012 for $20.8 million. Completed in 1993 and located at 13602-13728 Hull Street Rd. on nearly 14 acres, Harbour Pointe Village underwent a cosmetic renovation in 2017 and is almost completely leased up.
The company purchased a property in Doral to set up development of a retail center anchored by Whole Foods Market. Bridge Industrial sold the 10 acres at the southwest corner of Northwest 41st St. and Northwest 107th Ave. SJC Ventures said it plans to break ground in fall 2024, and the center will be anchored by Whole Foods.
The food-and-beverage distributor purchased a 105,000-square-foot industrial property in Moonachie, N.J. The building at 210 W. Commercial Ave. was originally constructed in 1966. The seller was Beauty Plus, a provider of wigs and hair extensions.
A JV between Atlantic Residential and Mutual Life Insurance acquired a 12.8-acre site located at 777 Isle of Capri Cir. The seller was a JV between Cordish Cos. and Caesars Entertainment. The JV's planned apartment build, which will be called Indigo Pompano Beach, will include 423 units across nine buildings between two and five stories, plus 588 parking spaces and a clubhouse with a pool and pickleball courts.
The company purchased the 333,386-square-foot industrial property in West Coxsackie, N.Y. Save A Lot was the seller. The buyer plans extensive capital improvements to the facility's interior and exterior, repositioning the property into a modern warehouse and distribution center. Winstanley also plans to rebrand the center, located on a 30.7-acre parcel at 1 Van Bergen Lane, as Mid-Hudson Logistics Center.
Steris, a healthcare services company, bought the two-story 1801 Building at 1801 Northwest 66th Ave. The 105,000-square-foot building was completed in 1983 on a 6.2-acre site. Zaragon paid $16.6 million for the property in 2018.
The company scooped up the site of Elevation Pointe, a mixed-use development off State Road 16. The seller was Elevation Pointe LLC. The development, still in the works, will feature 420 townhomes, 320 apartments, two hotels and 100,000 square feet of retail and office space.
The company sold Four Corners Business Park, a three-building industrial park in Polk County, to LBA Realty. The Four Corners Business Park's three buildings total just under 800,000 square feet and is located directly between Interstate 4 and U.S. Highway 27. Tenants in the park include Cargill and ReadyRefresh, among others.
The firm purchased the 477-unit Drake at St. Pete for $129,140 per unit from Brandywine Multifamily. The Drake was built in the early 1970s and is one of the largest apartment complexes in west St. Pete. It features assorted amenities and surrounding the complex is a 20-acre dog park.
The firm sold a 57-unit residential development at 2468 Tiebout Ave. in Fordham Heights for $25.8 million to MBD Community Housing Corp. and a 66-unit apartment building at 722 E. 216th St. to Vocational Instruction Project Community Services for $26.6 million. The buyer of the Fordham location plans to renovate the development, though the buyer of the 216th St. location did not disclose their plans. HKS Capital bought both previous properties for nearly $22 million.
The investor purchased the Presidential Arms, a 460-unit apartment complex in Allison Park, from DePaul Management. The building sold for $61,778 per unit. Morgan said it will renovate the entire building.
Focus Healthcare Partners acquired Treeo Senior Living from Columbia Pacific Advisors. Columbia built the facility in 2018, which features 143 units in one four-story building. Amenities at the community include a movie theater, dining room, bar, salon, fitness center, activity room, guest suites and an outdoor courtyard. Focus has also renamed Treeo to The Willows at Raleigh.
The Warehouse District, a cluster of warehouses in West Palm Beach that have been repurposed with food and beverage operators, was sold by Asana Partners. Armata bought the 73,379-square-feet of repurposed warehouse space at 1220, 1300, 1400 and 1500 Elizabeth Ave., plus 1615 and 1401 Clare Ave. for $2.66 per square foot. The warehouses were built on the 3.4-acre site between 1950 and 1974. Previous owner Johnson Capital Partners renovated them and brought in food and beverage tenants to serve the growing residential markets in West Palm Beach.
The real estate company acquired the Primark facility at Imeson Park from VanTrust Real Estate. The purchase price of the property at 1511 Zoo PKWY was not disclosed. The 550,243-square-foot, cross-dock industrial facility is fully leased to Primark.
A JV between The Broe Group and Hudson Valley Parking Trust purchased Icon Parking for an undisclosed price. The company was sold by CEO John D. Smith and Arkview Capital. The JV says the purchase is expected to be lucrative with sustained growth as millions of New Yorkers use the parking company's services every day.
The company purchased One Town Center, a 10-story building with 191,294 square feet of leasable space as well as a 151,392-square-foot parking structure. The 200,858-square-foot building at 1 Town Center Rd., completed in 1990, was sold by CP Group. Renovations and upgrades by the buyer are expected.
A JV between PH Realty Capital, Alma Realty and Rockledge landed the acquisition financing to purchase a portfolio of 10 rent-regulated multifamily buildings in New York City. Called the "Sentinel Portfolio," contents consist of 592 units with 80% of them rent-regulated. The JV acquired the multifamily assets from Sentinel Real Estate for $180 million.
The loan is for the acquisition of The Hub Shopping Center, a retail center located in Hempstead on Long Island. Tenants at the property, which totals 248,569 square feet, include The Home Depot, Stop & Shop, Old Navy and AT&T. The center was 99% leased at the time of sale.
The STRO Cos. is using the loan to refinance a 353,000-square-foot industrial property in Wayne, N.J. The property at 415 Hamburg Turnpike was built on 17 acres in 1968 and features clear heights of 18 to 26 feet, 20 dock-high loading doors, six drive-in doors and 63,720 square feet of office space. The property is fully leased.
Delta Investors Group sold the 104,594-square-foot office at 1801 N.W. 66th Ave. to Steris for $150 per square foot. The building last traded for $16.56 million in 2018. The two-story office building was completed on the 6.15-acre site in 1983.
Jamsan Hotel Management bought the Homewood Suites by Hilton St. Petersburg Clearwater, sold by HHM Hotels. The hotel, which has 112 keys and was built in 1997, last sold for $11.3 million in 2019. Jamsan plans to renovate the hotel, and plans to purchase more hotels in the future.
Paradise Beach, a 34,815-square-foot strip mall at 2324 N. Highway A1A in Indialantic was sold by attorney Michael Sapourn, its owner. The buyer says it plans to give the plaza a facelift and to lease to national tenants as spaces become available. On top of the usual retail spaces, the plaza also includes a restaurant.
The company bought just over 10 acres in Cabarrus County for nearly $1.4 million. The land is located at Blackwelder Rd. and N.C. Highway 49. Duke Energy did not divulge its plans for the site. The seller was undisclosed.
The company purchased Cottages at Emerald Cove, a 290-unit, Class A community in Savannah, Ga. The previous owner was Rockworth Cos., which acquired the asset in 2020 for $45.5 million. Atlas plans to reposition the community by renovating unit interiors and upgrading the existing amenities and common areas. Located at 100 Shellbark Way, the purchase price was not disclosed.
The company acquired nearly 63 acres in Union City, sold by TA Realty. Despite selling the land, TA Realty said it will partner with EdgeConneX to build a 324-megawatt data center on the property. The planned $1.8 billion data center campus could span 2.1 million square feet, making it one of the largest data center projects in the Southern U.S.
The loan is to refinance Arthouse Hotel New York City, a boutique hotel with 300 suites on the Upper West Side. Sitting on the corner of Broadway and West 77th St., the Arthouse Hotel is a 16-story hotel that Ashkenazy acquired in 2013. The brick building was constructed in 1919 and renovated in 1991.
The loan finances Allied's acquisition of Brandywine Square Shopping Center, a 607,999-square-foot retail center located in Downingtown. Wegman's anchors the property, with other tenants including BJ's Wholesale, Dick's Sporting Goods, DSW, PetSmart, Regal Cinema and Best Buy.
The company bought Three Parkway and plans to convert the office building's vacant space to residential. The 561,351-square-foot building was sold by MRP Realty. PMC expects to convert the lower half of the 20-story building into approximately 175 residential units, with office space remaining as is.
The company bought a self-storage facility in Spartanburg, S.C., featuring roughly 109,500 net rentable square feet across 950 climate-controlled units, from RealtyLink. Completed in 2020 and located on 10.6 acres at 2119 E. Main St., amenities for the three-story facility include 29 drive-up climate-controlled units, two elevators, moving carts and video surveillance, among others.
The Massachusetts Bay Transportation Authority (MBTA) bought the 200 Newport Ave. Extension, a 146,000-square-foot building once owned Synergy, who went into foreclosure in 2022 after losing tenants in the building due to the pandemic. MBTA will use the building to house several operational, administrative and service functions for the agency. The agency expects to shift its operations to the building soon, but did not set a timeline.
The hotel investor picked up the 229-room hotel at 1414 Sixth Ave. from Starwood Capital Group, which bought the 110,000-square-foot, 18-story hotel building for $72 million in 2011. The five-star hotel is part of SH Hotels & Resorts "eco luxury" brand known for its sustainable features. Starwood will continue to manage the property.
The company bought the Lenox and Quinn Apartments, two adjacent buildings totaling 408 units in Jersey City's Paulus Hook neighborhood. Built in 2017, Lenox consists of 255 units and includes a 257-space automated parking garage, and Quinn was constructed in 2018 and totals 153 units. The seller was a set of institutional investors advised by JPMorgan.
A JV between Chelsfield Group and Ram Holdings sealed the loan to refinance its renovated SoHo office building. Located at 114 Crosby St., the loan will be used to refinance a previous $35 million acquisition loan from BridgeInvest in 2022 and to lease up the remaining vacant space. The office building has 114,000 square feet of office space, over 50% of which has been leased.
A JV between Paramount Realty and Edgewater Properties bought the Neshaminy Mall, with plans to demolish half of the property and redevelop the site. Brookfield Properties was the seller. The buyers say they bought the 56-year-old Neshaminy Mall because of its location and the redevelopment opportunity it offered.
The developer acquired four parcels across 1.9 acres in the city's Lockwood neighborhood from Ascent Real Estate Capital for $6.5 million. The sites are located at 100 Dalton Ave., 1625 N. Tryon St. and 109 and 113 Sylvania Aves. Eagle I Property Group is working with Anjani Ventures and JSR Ventures to build a seven-story, 275-unit apartment community that includes studio, one- and two-bedroom apartments.
The company bought a 10.4-acre property at 4777 Old Winter Garden Rd. from an undisclosed seller. The property features a 13,740-square-foot warehouse and a 3,500-square-foot auxiliary building. The buyer plans to seek tenants to fill up any vacant spaces.
The company purchased a gas station on less than an acre at 108 S. Main St. in the Town of Franklinton. The company said the purchase was made as an investment, citing the location and the successful gas business on site. The seller was undisclosed.
Spear Street Capital acquired 2000 K St. NW. The office building was constructed in 1986 as an eight-story, 153,000-square-foot property. Tishman acquired it in late 2013 for $89 million, then launched a $65 million renovation that included an updated glass facade, four-story expansion and a rooftop terrace.
Nuveen Real Estate sold the 197 apartments at 501 N.W. 84th Ave. and 601 N.W. 82nd Ave. for $250,508 per unit. The property, called Manor in Plantation, last sold for $52.09 million in 2014. The building totals 355,087 square feet, with a six-story building containing 181 apartments plus 16 three-story townhouses in separate buildings. Amenities include a clubhouse, a fitness center, and a pool.
The loan is for acquiring Applewood, a continuing care retirement community in Trenton. Located on approximately 44 acres, Applewood opened in 1990 and offers 300 independent living units, 37 assisted living units, 11 memory care units and 60 skilled nursing units.
A JV between Lubert-Adler Real Estate Funds and Keystone Development and Investment paid $31 million for the 129-year-old Bourse building at 111 S. Independence Mall East and $10 million for the mostly vacant office building at 400 Market St. The JV plans to convert the buildings to make them amendable to future tenants. The 10-story, 302,600-square-foot Bourse houses a nearly vacant food hall on the ground floor with office space above, and the 12-story, 173,700-square-foot office building at 400 Market St. houses office space top to bottom.
The company bought the Montrose Shopping Center in Rockville from Rosenthal Properties. The seller paid $20.5 million for the shopping center in 2021. The center, with about 148,000 square feet of commercial space, is leased to a mix of tenants including MOM's Organic Market, Planet Fitness, KPOT Korean BBQ and Shouk Restaurant.
A JV between Peach Hill Capital and RK2 Property Group acquired Georgetown Crossing, a 168-unit garden-style apartment community in Savannah, with immediate plans to renovate. Built in 1994, the JV will upgrade the flooring, appliances, kitchen and bathroom fixtures, landscaping and amenities, such as the pool. Georgetown Crossing will also be rebranded as Georgetown Oaks.
The company, and a group of unnamed co-investors, acquired Laurel Hill Apartments at 1526 Eaves Rd. in Cleveland County. Built in 1974, Laurel Hill has 100 units ranging in size from one to three bedrooms. The seller was undisclosed.