Decron Properties has paid $96.2 million, or $346,043/unit, for Broadstone Rio Salado, a 278-unit apartment property in Tempe, Ariz. The Los Angeles investor purchased the complex from Alliance Residential Co. of New York. Broadstone Rio Salado, at 2325 East Rio...
Charlotte Business Journal Bell Partners has paid $51 million, or about $196,154/unit, for Century Plantation Pointe, a 260-unit apartment property in the Charlotte, N.C., suburb of Mooresville, N.C. The seller was not disclosed. The Greensboro, N.C., company has renamed the...
Mesirow Realty Sale-Leaseback Capital is offering for sale a newly built industrial property with 2.68 million square feet in Bondurant, Iowa, about 12 miles east of Des Moines, Iowa. The property is fully leased to Amazon.com Inc. Avison Young has...
Griffis Residential has paid $155.7 million, or $444,857/unit, for the 350-unit Presidio View apartment property in San Diego's Mission Valley area. The Greenwood Village, Colo., investment manager, which specializes in the multifamily sector, bought the property from AEW Capital Management....
Commercial Observer ACORE Capital has provided $138.9 million of financing against more than 691,000 square feet of office and retail space at the National Place mixed-use complex in Washington, D.C. Quadrangle Development Corp. owns the property at 1331 Pennsylvania Ave....
Northview Hotel Group has paid $157.6 million, or $378,846/room, for the 416-room Sir Francis Drake hotel in San Francisco. The Wilton, Conn., company bought the property from Pebblebrook Hotel Trust, a Bethesda, Md., REIT that had acquired it in 2010 for...
Brixmor Property Group Inc. has paid $48.5 million, or about $172.33/sf, for the 281,443-square-foot Center of Bonita Springs shopping center in Bonita Springs, Fla. The New York REIT bought the property from a venture of AMCAP Inc. and American International...
Commercial Real Estate Direct Staff Report The 102-year-old Hotel Pennsylvania in Manhattan has closed its doors permanently. Vornado Realty Trust owns the 1,700-room hotel, which the New York REIT plans to demolish and redevelop in the next two years, likely...
Commercial Real Estate Direct Staff Report Properties owned by Pebblebrook Hotel Trust Inc. recorded a revenue per available room, or RevPAR, of $70.83 during the first quarter. That's up 14.9 percent from the $61.64 of RevPAR posted in the fourth...
Ridgebrook Investments has paid $30 million, or $256,410/unit, for Lake Jonathan Flats, a 117-unit apartment property in Chaska, Minn., about 25 miles west of Minneapolis. The Minneapolis investor purchased the property from Trident Development. JLL brokered the deal for the...
