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Goldman Sachs buys Ariz. asset for $95M; $150M Colo. community under development


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Goldman Sachs buys Ariz. asset for $95M; $150M Colo. community under development

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* Goldman Sachs Asset Management Private Real Estate purchased the 341-unit Hanover Mill Avenue apartment complex at 101 W. Fifth St. in Tempe, Ariz., for $95.1 million, the Phoenix Business Journal reported.

* Cappella Living Solutions is developing a $150 million seniors housing community at S. Wadsworth Blvd. and W. Quincy Ave., in Lakewood, Colo., the Denver Business Journal reported. The project will offer 180 independent living apartments, as well as 96 assisted living and 42 memory care residences in its first two phases. It is projected to be complete in the fall of 2019.

* SWBC Real Estate LLC sold the 300-unit Twin Creeks apartment complex at 11650 Alamo Ranch Parkway in San Antonio, Texas, to an undisclosed buyer for an unidentified price, the San Antonio Business Journal reported. The publication noted that the Bexar County Appraisal District recently valued the property at $41.1 million.

* A joint venture between TriGate Capital LLC and Pearlmark sold the four-building, 83.6%-leased, 420,540-square-foot Naperville Corporate Center at 1230, 1240, 1245 and 1250 E. Diehl Rd. in Naperville, Ill., for roughly $38.7 million to Real Capital Solutions, the Daily Herald reported.

* Innovative Industrial Properties Inc. agreed to buy three assets for an expected investment of roughly $38 million and had completed the purchase of a single property for $3 million as of May 9.

* Emira Property Fund Ltd. purchased 49% of the equity in the 204,000-square-foot, 98.9%-leased Stony Creek Marketplace shopping center, valued at $32 million, in Noblesville, Ind.

* Transcontinental Realty Investors Inc. unit Abode Properties acquired the 80-unit Sugar Mill II apartments in Addis, La., for an undisclosed amount.

Additional coverage

SL Green wins bid for 2 Herald Square in Manhattan, NY

CalPERS adds $460M to US retail JV

Extra Space Storage under agreement to buy 26 stores for $356M

Senior Housing Properties sells 2 communities for $217M in March

Report: Brookfield Property Partners lists Boston office tower for sale