Abacus Capital closes DFW apartment deal

New York-based Abacus Capital Group LLC recently purchased Fairmont at Fossil Creek Apartments, a 240-unit luxury apartment property in North Ft. Worth, Texas, for $21.3 million.

The property, which is less than 2 years old, is located adjacent to the Fossil Creek Golf Club, and was 93 percent occupied at closing.

The closing comes on the heels of the firm's purchase last fall of Belterra Apartments, a 288-unit property located in the same Fossil Creek submarket.  more...

Abrams Centre acquired for $61 a square foot

GERA Abrams Centre LLC, a wholly owned subsidiary of Grubb & Ellis Co., recently purchased a 326,000-square-foot office building in Dallas, Texas, for $20 million.

Abrams Office Center Ltd., a Texas limited partnership, was the seller.

The subsidiary's current intention is to hold the property for future sale to Grubb & Ellis Realty Advisors Inc., according to a press statement, although no sales arrangement currently exists.

Rialto Business Center sold

Marcus & Millichap brokered the sale of a multitenant industrial property in Rialto, Calif., for approximately $4.3 million.

The four-building, 36-unit property was constructed in 1980 and consists of approximately 63,320 rentable square feet (including nine fenced storage spaces).

An unidentified private investor sold the property, located at 725-785 West Rialto Ave., to Rialto Business Center L.P.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage operating nationwide.