Commercial Real Estate Direct Staff Report North American Development Group has paid $220 million, or about $191.30/sf, for the Westfield Brandon shopping center in the Tampa, Fla., suburb of Brandon, Fla. It has funded its purchase with a...

The 355,000-square-foot office building at 550 California St. in San Francisco is expected to sell for between $42.6 million and $46 million, or up to nearly $130/sf, according to a report in the San Francisco Business Times. The...

Commercial Real Estate Direct Staff Report A venture of Cadence Capital Investments and Oakwood Real Estate Partners has sold Bristol Place, a 61,454-square-foot retail property in Santa Ana, Calif., for $36.5 million, or $593.94/sf. The venture - Cadence...

Heitman has provided $64.3 million of financing for the construction of a 211,388-square-foot industrial property in Newark, N.J. The three-year loan, arranged by JLL Capital Markets, allows Bridge Industrial of Chicago to build the property at 17 Blanchard...

The Real Deal An affiliate of MetLife Investment Management has paid $92.5 million, or $470.26/sf, for the 196,700-square-foot Homestead Shopping Center in Cupertino, Calif. The Parsippany, N.J., investment manager purchased the property from the Sobrato Organization. The property...

Service Properties Trust has paid $165.4 million, or $661,600/room, for the 250-room Nautilus by Arlo Hotel in Miami Beach, Fla. The Newton, Mass., REIT, formerly Hospitality Properties Trust, purchased the property from Quadrum Miami Beach LLC, an affiliate...

BH Properties has named Justin Thompson general counsel. Thompson joins the Los Angeles investor, which pursues value-add and opportunistic strategies, from Nixon Peabody, where he was partner. He had served as West Coast lead for its real estate...

Multi-Housing News Granite Capital Group has sold Enclave Belle Creek, a 167-unit apartment property in Commerce City, Colo., for $46 million, or $275,449/unit. The Santa Barbara, Calif., private equity firm was represented in the deal by Transwestern Real...

Tishman Speyer has negotiated the one-year extension of the $485 million mortgage against 300 Park Ave., a 771,643-square-foot office building in midtown Manhattan. The loan, securitized through COMM, 2013-300P, now matures in August 2024. But its modification was...

The Real Deal Bank of America's investment management arm has paid $55.5 million, or $85.38/sf, for the I-88 Gateway Logistics Center, a 650,000-square-foot industrial property in North Aurora, Ill. The Charlotte, N.C., company purchased the property from Realty...

Mercury Casualty Co. has sold the 127,000-square-foot office property at 11000 Eucalyptus St. in Rancho Cucamonga, Calif., for $22.25 million, or $175.20/sf. The Los Angeles company was represented in the deal by Kennedy Wilson Brokerage. The buyer was...

Commercial Real Estate Direct Staff Report KKR Real Estate Partners Americas III has completed the purchase of two recently constructed industrial properties with a total of 2 million square feet in the Phoenix and Atlanta areas for a...

Lenders that hold $940 million of mortgage debt against 95 apartment properties with 2,452 units in San Francisco have hired Eastdil Secured to market it for sale, according to a report in The Real Deal. A big chunk...

Commercial Real Estate Direct Staff Report Arbor Realty Trust has provided $78.5 million of financing against the Village at Pioneer Park, a 322-unit apartment property in Peoria, Ariz. The financing was arranged by Tower Capital and allows the...

Commercial Property Executive Madison Capital Group has paid $260 million, or $451.57/sf, for Seagate Campus, a 575,775-square-foot research and development property in Fremont, Calif. The Charlotte, N.C., investment and development firm purchased the property, as part of a...

Carlyle Group has acquired a development site in the Gowanus neighborhood of Brooklyn, N.Y., and has lined up $170 million of financing from Athene Annuity and Life Co. to fund the construction of apartments on the parcel. The...

Commercial Real Estate Direct Staff Report Ramsfield Hospitality Finance and AB CarVal, which had provided a mezzanine loan against the dual-branded Crowne Plaza and Staybridge Suites in Atlanta's midtown area, have taken over the property. The Ramsfield/CarVal team...

Brian Gould has been named managing director of Berkadia's mortgage banking platform, where he will arrange mortgage and equity financing for property-owning clients. He joins the company's Washington, D.C., office from Chatham Financial, a Kennett Square, Pa., risk-management...

Commercial Real Estate Direct Staff Report Google Inc. is offering for sublease 1.4 million square feet of office space scattered among seven office buildings in Mountain View, Calif., and Sunnyvale, Calif. The tech giant is looking for tenants...

Commercial Real Estate Direct Staff Report Kennedy Wilson has recapitalized Altitude by Vintage in Reno, Nev., by bringing in an equity partner in a deal valuing the 293-unit apartment property at $54.5 million, or $186,006/unit. The identity of...

Moderna Inc. has paid $91 million, or $650/sf, for the 140,000-square-foot life-sciences building at 149 Hayes Memorial Drive in Marlborough, Mass., about 37 miles west of Boston. The pharmaceutical and biotechnology company, which is based in Cambridge, Mass.,...

Commercial Observer A venture led by New York developer Tredway has paid $150 million, or $183,824/unit, for the 816-unit Sea Park Apartments in the Coney Island section of Brooklyn, N.Y. The venture bought the affordable-housing complex, at 2930...

MMA Storage has paid $20 million, or $27,624/unit, for Our City Storage, a 724-unit self-storage facility in Reno, Nev. The Sparks, Nev., investor group purchased the property from an affiliate of West Coast Self Storage, according to Washoe...

Sperry Commercial Global Affiliates has formed a unit to help clients address properties whose mortgages might be maturing and are facing refinancing challenges. The brokerage network has named the unit its Commercial Property Resolution, or CPR, team and...

Commercial Real Estate Direct Staff Report Victor Calanog, a long-time commercial real estate economist, has moved over to the buy-side, having joined Manulife Investment Management as global head of research and strategy for real estate private markets. Calanog...