Dolphin Bay sale

Dolphin Bay, an 85-unit multifamily community in Oxnard, Calif., recently sold for $11.4 million.

Baltimore, Md.-based Legg Mason purchased the property from Brentwood Holdings.

Located at 5300 J St., the 83,850-square-foot asset is situated on a 3.3-acre lot.

Dolphin Bay consists of 20 one-bedroom/one-bath flats, 55 two-bedroom/1.5-bath townhome units, and 10 three-bedroom/1.5-baths townhome units. Community amenities include a swimming pool, fitness center, controlled-access entry, garage parking and laundry facilities.

Manhattan apartments sell at major profit

Boymelgreen Developers has closed on the sale of 323 West 96th Street, a luxury rental building on Manhattan's Upper West Side, resulting in a profit of $40 million.

The 15-story, 171,988-square-foot building and the property's 99-year ground lease were sold to the Pinnacle Group for $74 million. Completed in 2003, the project's total development cost was $34 million.  more...

Phoenix's Papago building sold

ITC Manufacturing on Thursday announced it purchased The Papago industrial building in Phoenix, Ariz., for $8.2 million.

ITC acquired the 170,400-square-foot distribution building from locally based Lorenzo and Mary Ellen Valenzuela as an investment and for future use, according to a press statement.

The Papago, located at 430 N. 47th Ave., was occupied at the time of sale by Summit Warehouse and Freeport Logistics, who will remain in the building. ITC plans to eventually consolidate its multiple Valley locations in this one facility on 47th Avenue.