Boston, MA (October 18, 2017) SVN franchises in the Southwest region, including SVN | Net Lease Texas, SVN | DataVest Inc. and SVN | Investment Sales Group, have delivered strong results during the first three quarters of 2017, brokering a total of three high-value deals for a combined value of $44.9 million.
SVN | Net Lease Texas advised on the sale of a portfolio of three Walgreen’s stores located throughout Texas in Dallas, Fort Worth and Austin, for $18.3 million. Glen Berhow, of SVN | Net Lease Texas advised the seller on the transaction.
“SVN | Net Lease Texas holds years of specialized experience in the sales and acquisition of net lease retail investment properties throughout Texas and the U.S.,” said Glen E. Berhow, Managing Director at SVN | Net Lease Texas. “As a result of our experience in this market sector, we were able to achieve a 5 percent capitalization rate for the seller, maximizing the value of the properties.”
SVN |DataVest Inc. completed the sale of Arbors Brookhollow, a 114,421-square-foot office building located on nearly eight acres at 2201 East Lamar Blvd. in Arlington, Texas. Arbors Hui, LLC purchased Arbors Brookhollow for $14.25 million. Bruce Marshall from SVN | DataVest Inc. represented the buyer, Arbors Hui, LLC, while Mike Hardage of Transwestern represented the seller in the transaction.
“With ample parking and easy access to I-30 and State Highway 360, Arbors at Brookhollow presented a compelling opportunity to the buyer,” said Marshall, Managing Director at SVN | DataVest, Inc. “Through our expertise in the market, we were able to advise our client in securing this asset with an opportunity for added value.”
Finally, SVN | Investment Sales Group brokered the sale of Sierra Pointe, a 348-unit multifamily apartment building for $12.35 million.
“Sierra Pointe presented a strong value-add opportunity for the buyer to grow their presence in the Tulsa marketplace,” said Paul Yazbeck, Executive Director at SVN | Investment Sales Group. “With this recent purchase, the buyer plans to bring occupancy to market levels, while also incorporating an energy conservation program.”
Located at 1433 South 107th East Avenue in Tulsa, Okla., Sierra Pointe was sold to AMG Bridgeport, LLC Todd Franks and Paul Yazbeck of SVN | Investment Sales Group brokered the transaction.
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