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Las Vegas community trades for $60M; Calif. apartments sell for $56M


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Las Vegas community trades for $60M; Calif. apartments sell for $56M

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

* A Cantor Fitzgerald LP and Hamilton Zanze joint venture purchased the 426-unit Arrow Canyon apartment community in Las Vegas for $60 million. The community comprises 20 three-story buildings with 458,294 net rentable square feet on about 17 acres.

* MG Properties Group acquired the 312-unit North Pointe Apartments, on 18 acres in Vacaville, Calif., from an unnamed seller through a $55.9 million Freddie Mac mortgage.

* MacMunnis, Inc. sold a 10,000-square-foot, 100%-occupied building at 118-120 East Oak St. in Chicago to L3 Capital for $23 million, Bisnow reported, citing Cook County property records.

* Donahue Schriber Realty Group LP sold the 31,980-square-foot, 92%-occupied Westlake Village shopping center at 3501-3511 Del Paso Rd. in Sacramento, Calif., with an adjacent 4.36-acre undeveloped plot, for $11.3 million to RRJ Cambridge Partners LLC/Mary Jo Shepherd Trustee, the Sacramento Business Journal reported, citing property records.

* InvenTrust Properties Corp. sold the 282,708-square-foot, 92%-leased Lakeport Commons retail asset at 5101 Sergeant Rd. in Sioux City, Iowa, to The R.H. Johnson Company. for an undisclosed price.

Additional coverage

NYC office building hits the market for $275M

Report: Mountain View, Calif., mixed-use property sells for $170M

Equity Commonwealth sells Denver office building for $115M

Seritage Growth forms JV for office conversion in Santa Monica, Calif.