The Sembler Co. has bought out two partners on parts of the Town Brookhaven project, according to information reported by real estate research firm Databank Inc.
A joint venture between Sembler and Steven D. Bell & Co. purchased a portion of Town Brookhaven from Trammell Crow Residential and Archstone South. The May 14 transaction involved 42,000 square feet of street-level retail space on the ground floor of the Alexan Town Brookhaven building. The partnership paid about $6.2 million for the retail space, or about $148 per square foot, Databank said.
The Sembler-Bell partnership also purchased a part of the GoodWynn at Town Brookhaven, a 372-unit apartment building with about 54,000 square feet of retail space. Sembler bought the retail portion of that property, according to Databank. The price was $7.9 million, or $146 a square foot. Lincoln Brookhaven L.P. sold the retail space.