The 40,792 square foot industrial building traded for a record price, according to JLL.

Retail operations account for the majority of the project's NOI.

The new endeavor is starting out with approximately $250 million in capital.

The fund aims acquire affordable apartments serving residents making 80% or less of the area median income.

The three separate transactions total $53.55 million.

The three properties bring 179 units of affordable housing to the area.

The company has taken ownership of the Hotel Felix in Chicago and YOTEL in San Francisco.

Weis Markets will open in 2025.