Commercial Tag: Sold

Property details

Gaithersburg, Maryland

Walker House Apartments

Investment type

Value Add

Asset Class

Multifamily

Ownership Structure

Joint Venture

Year Acquired

2018

Investment Summary

Syndicated invested alongside Urban Investment Partners (UIP) in a 212-unit apartment community located at 18700 Walkers Choice Road in Gaithersburg, Maryland, a dense and established suburb of Washington, DC.

The property consists of an eight-story, 196-unit high-rise originally built in 1971, and 16 garden style constructed in 2003.

Property details

Cranberry Township, Pennsylvania

Cranberry Square

Investment type

Value Add

Asset Class

Retail

Ownership Structure

Joint Venture

Year Acquired

2018

Investment Summary

Syndicated invested alongside M&J Wilkow in the acquisition of Cranberry Square, a 299,818 square foot regional shopping center located approximately 18 miles from downtown Pittsburgh.

The property is leased to seven national tenants including Field & Stream, Best Buy, and Barnes and Noble. The property is shadow anchored by Walmart and Costco and is situated at Route 19 and Route 228, a prominent intersection that sees traffic counts in excess of 70,000 vehicles per day.

Property details

Indianapolis, INdiana

Marriott Courtyard

Investment type

Value Add

Asset Class

Hotel

Ownership Structure

Joint Venture

Year Acquired

2018

Investment Summary

Situated invested alongside Arbor Lodging Partners in a three-story, 90-room Marriott Courtyard located at 7226 Woodland Drive, Indianapolis, Indiana.

Originally developed in 1997, the Property includes amenities such as a business center, indoor pool, whirlpool, outdoor patio/terrace, fitness center, convenience store/sundry shop, and guest laundry room. The Property also features an on-site food and beverage area called the Bistro, which offers a breakfast buffet, espresso bar, and made-to-order hot items, as well as limited room service, dinner, and drinks in the evening at a la carte prices.

Property details

Columbus, OHio

Mars Petcare Cold Storage Facility

Investment type

Net Lease

Asset Class

Industrial

Ownership Structure

Tenancy-In-Common (TIC)

Year Acquired

2017

Investment Summary

The property consists of a 465,256 square foot freezer/cold storage warehouse facility leased to Mars Petcare.

Mars is the world’s leading manufacturer of dry and soft pet food, soft treats, and dog biscuits. The property was originally developed in 1968 as a warehouse and distribution facility but underwent an extensive renovation in 2016 and 2017 into a food grade facility in accordance with Mars Petcare’s specifications. Renovations included the construction of a 168,245 square foot state-of-the-art Freon-based freezer facility, a substantial LED lighting system, and the latest technology in commercial food-grade equipment.

Syndicated structured its acquisitions as a Tenancy-in-Common to accommodate investors completing a Section 1031 Exchange.

Property details

West Des Moines, Iowa

Marriott Courtyard – West Des Moines

Investment type

Value Add

Asset Class

Hotel

Ownership Structure

Joint Venture

Year Acquired

2017

Investment Summary

Syndicated invested alongside Arbor Lodging Partners in a four-story, 102 room Marriott Courtyard hotel strategically located between Jordan Creek Town Center, the largest shopping complex in the state, and the Wells Fargo West Des Moines Campus, a regional headquarters.