General News

Commercial Real Estate Direct Staff Report Covenant Capital Group has paid $44.3 million, or $217,157/unit, for the 204-unit Vanguard Northlake apartment property in Charlotte, N.C. The Nashville, Tenn., investment manager bought the property, which it has renamed Ventana Northlake, from...

Chase Tower, a 477,772-square-foot office property in Milwaukee has changed hands for the second time since 2016. An affiliate of Group RMC has paid $34.25 million, or $71.69/sf, for the property, according to a report from the Milwaukee Journal Sentinel....

AIG Global Real Estate has formed a venture with a sovereign wealth fund that is targeting $1.5 billion of investments in multifamily properties in primary and secondary markets throughout the country. The venture has been seeded with seven apartment properties...

Bascom Group has paid $31 million, or $210,884/unit, for the 147-unit Sierra Point Apartments in Reno, Nev. LoanCore provided financing for the Irvine, Calif., investment manager's purchase. The financing was arranged by JLL Capital Markets. Sierra Point, at 4400 El...

Commercial Real Estate Direct Staff Report Thorofare Capital has provided $34.14 million of financing to cover the land acquisition and predevelopment costs for a proposed 230-unit apartment property in the Los Angeles suburb of Culver City, Calif. The 3.4-acre development...

Commercial Real Estate Direct Staff Report Community Preservation Partners has paid $26 million, or $114,035/unit, for the Chandler Ridge Apartments, a 228-unit affordable-housing property in Raleigh, N.C. The Irvine, Calif., developer, which specializes in affordable properties, bought the complex from...

ViacomCBS Inc. has agreed to sell its CBS Studio Center property, with more than 1 million square feet on a 55-acre site in Los Angeles' Studio City area, for $1.85 billion to a venture of Hackman Capital Partners and Square...

Charlotte Business Journal An affiliate of Apollo Global Management has bought the 358,000-square-foot Lowe's Global Technology Center in Charlotte, N.C., for $318 million, or about $888.27/sf. The New York investment manager purchased the 23-story property from a venture of Childress...

Charlotte Business Journal White Oak Partners has bought the Matthews Square Apartments, a 350-unit complex in the Charlotte, N.C., suburb of Matthews, N.C., for $92.5 million, or about $264,286/unit. The Westerville, Ohio, company acquired the property from The Bainbridge Cos....

Charlotte Business Journal Concordia Properties has bought the 454-unit Country Club Apartments in Charlotte, N.C., for $75 million, or about $165,198/unit. The Lakewood, N.J., company acquired the complex, at 2332 Dunlavin Way, from JEM Holdings, a New York real estate...