Cameron Glinton of LOGIC Commercial Real Estate (Logic) has announced the sale of Hacienda Heights, a 216-unit apartment building in the southeast submarket built in 2008. Logic represented the seller, DK Nellis LLC and procured the buyer, Oak Residential Partners (Oak) of Deerfield, Illinois. The property closed at $33,75 million, which was $175 per square foot, and $156,250 per unit. Logic was engaged to identify a qualified buyer who was familiar with the market and asset to enact a successful close.
Northcap Commercial has announced the sale of the Desert Inn Apartments for $2.7 million ($75,000/unit). This sale consisted of 36 multifamily units built in 1963, at 1075, 1089, 1107, and 1121 E. Desert Inn Road. This transaction closed on Oct. 23. Northcap Multifamily represented the seller, Blue Elephant LLLP.
MG Properties Group, a private San Diego-based real estate investor and operator, has announced the acquisition of Village at Desert Lakes Apartments.
San Diego-based Tower 16 Capital Partners, in a joint venture with Henley Investments, has acquired Five89 Apartments, a 312-unit multifamily project for $32.5 million. The property was acquired on an off-market basis from a private seller.
On behalf of Haven Realty Capital, Cushman Wakefield completed the sale of Mountain Vista to an undisclosed buyer for $17.75 million.
A new $5-million industrial project, Diablo Triangle, by Brass Cap Development is underway in the south Las Vegas area near the Raiders stadium.
Berkadia has announced the sale of The Edge at Traverse Point, a garden-style multifamily property in Henderson. Managing Director Brian Anderson and Associate Director Jared Glover of Berkadia’s Las Vegas office completed the $60.68 million sale on behalf of the seller, California-based Bascom Group. The buyer was New York-based, and the deal closed June 6.
Mountains Edge Hospital has grown by 19,135 square feet, thanks to the addition of the Mountains Edge Hospital Orthopedic Surgery Center, a $7-million expansion project constructed and completed by Nigro Construction. The 130-bed acute care hospital is at 8656 W. Patrick Lane.
Experiencing exponential growth ever since it opened in 1994, Polar Shades Inc., a leading manufacturer and interior and exterior window shades, drapery tracks and retractable screen doors, recently purchased a new and larger manufacturing facility at 5520 Stephanie St.
CROP Infrastructure Corp. has announced it has completed the purchase of the suite of recreational cannabis licenses and the 1,012-acre property in its Elite Ventures Group 49 percent interest holding.