Transactions reported this week include a three-property portfolio in Las Vegas.
NexPoint Residential Trust purchased the portfolio from an unaffiliated third party for approximately $241 million.
The properties — Bella Solara, a 320-unit property built in 1989; Bloom, a 528-unit property built in 1989; and Torreyana, a 315-unit property built in 1997 — are situated on approximately 13.3, 26.9 and 16.3 acres of land, respectively. As of Oct. 16, the Las Vegas 3 Portfolio was 94.6 percent occupied, with a weighted average effective monthly rent of approximately $1,200.
| Buyer |
Seller |
Property name |
Location |
Size |
Price per size |
Price (m) |
| APARTMENTS |
|
|
|
|
|
|
| NexPoint Residential Trust |
Not disclosed |
Bella Solara/Bloom/Torreyana |
Las Vegas, NV |
1,163 units |
$207,222.70 |
$241.00 |
| JBG SMITH Properties |
McCaffery Interests/Clark Enterprises/Grosvenor Group |
F1RST Residences |
Washington, DC |
325units |
$493,846.15 |
$160.50 |
| Olympus Property |
The Related Group |
ICON Harbour Island |
Tampa Bay, FL |
340 units |
$386,764.71 |
$131.50 |
| Avanath Capital Management |
Not disclosed |
Alexandria Station/Brooke Commons |
Multi-city |
578 units |
$171,583.04 |
$99.18 |
| Knightvest Capital |
Not disclosed |
Indigo Palms |
Phoenix, AZ |
432 units |
$173,611.11 |
$75.00 |
| Not disclosed |
Not disclosed |
Ventura Del Sol |
Ventura, CA |
255 units |
$284,313.73 |
$72.50 |
| Inland Real Estate Investment Corp. |
NexMetro Communities |
Avilla Victoria |
Phoenix, AZ |
225 units |
$246,666.67 |
$55.50 |
| RADCO Cos. |
Newport Development Partners |
464 Bishop St. NW |
Atlanta, GA |
232 units |
$234,051.72 |
$54.30 |
| Not disclosed |
Not disclosed |
Laurel Park/Villa Del Rio |
Las Vegas, NV |
408 units |
$122,549.02 |
$50.00 |
| Geringer Capital |
Not disclosed |
Town Center Apartments |
Queens Creek, AZ |
176 units |
$190,340.91 |
$33.50 |
| INDUSTRIAL |
|
|
|
|
|
|
| SHI International |
PCCP/The Rockefeller Group |
400 Ridge Road |
Piscataway, NJ |
396,750 sf |
$149.97 |
$59.50 |
| Karney Properties |
Zevo Drive Holdings |
41995 Zevo Drive |
Temecula, CA |
224,350 sf |
$124.80 |
$28.00 |
| Rexford Industrial |
Not disclosed |
404-430 Berry Way |
Brea, CA |
120,250 sf |
$229.52 |
$27.60 |
| EastGroup Properties |
Not disclosed |
One-property portfolio |
Las Vegas, NV |
195,947 sf |
$130.14 |
$25.50 |
| OFFICES |
|
|
|
|
|
|
| Northwestern Mutual Life Insurance Co. |
Not disclosed |
McPherson Building |
Washington, DC |
255,968 sf |
$816.90 |
$209.10 |
| Swift Real Estate Partners |
Not disclosed |
The Pasadena Collection |
Pasadena, CA |
516,890 sf |
$373.39 |
$193.00 |
| Not disclosed |
Harbor Associates/Stockbridge Associates |
14101 Myford Road |
Tustin, CA |
66,818 sf |
$541.77 |
$36.20 |
| Artisan Realty/Rockwood Capital |
Swift Real Estate Partners |
4640 Lankershim |
Hollywood, CA |
73,972 sf |
$405.56 |
$30.00 |
