Brian Russell has joined the CBRE capital markets team in Southern California as executive vice president. Russell, a 10-year veteran of the commercial real estate business, had been with Eastdil Secured as a managing director and was involved...

Average daily rates generated by U.S. hotels slipped to $139.19 for the week through July 17 from the all-time high of $139.84 recorded the previous week, according to STR. But the Hendersonville, Tenn., research company noted that ADR...

Ares Management Corp. has paid $920 million for a portfolio of 48 industrial properties with 8.3 million square feet in 13 markets across the United States. The Los Angeles investment manager bought the portfolio from Prologis Inc. of...

An affiliate of Cantor Fitzgerald has paid $30.8 million, or $182.52/sf, for the 168,750 square-foot industrial property at 10801 Madison Ave. in Cleveland. The New York investment bank, which sponsors a pair of non-traded REITs, bought the property...

A venture of Weston Inc., DiGeronimo Cos. and Scannell Properties has paid $31.5 million, or $18.53/sf, for the 1.7 million-square-foot industrial property at 18300 Snow Road in Brook Park, Ohio. Ford Motor Co., the seller of the property,...

Commercial Observer An affiliate of The Meyers Group has sold the Avery Pompano Beach Apartments, a 144-unit property in Pompano Beach, Fla., for $42.9 million, or about $297,917/unit. The Aventura, Fla., company sold the eight-story property, at 275...

Vornado Realty Trust has agreed to take full control of One Park Ave., a 943,000-square-foot building in Manhattan in a deal valued at $875 million, or $927.89/sf. The New York REIT is buying the 45 percent stake it...

Commercial Real Estate Direct Staff Report Sonnenblick-Eichner Co. has arranged $38 million of mortgage financing against the 161-room Portofino Hotel & Marina hotel in Redondo Beach, Calif. The three-year loan, which could be extended by up to two...

Silicon Valley Business Journal A fund managed by Kennedy Wilson has paid $147.25 million, or $550.52/sf, for Vasona Technology Park, a 267,476-square-foot office and research and development property in Campbell, Calif. The investment vehicle, Kennedy Wilson Fund VI,...

Bank of America has provided $147.5 million of financing against Presidents Plaza, an 830,789-square-foot office building in Chicago. The loan, arranged by Newmark, allowed the property's owner, a venture of Angelo, Gordon & Co. and GlenStar Properties, to...

PGIM Real Estate had provided the $255 million of financing that Berkadia had arranged against the 1,306-unit Park Newport apartment complex in Newport Beach, Calif. PGIM funded the loan, which requires only interest payments for its seven-year term, through...

Fort Hospitality Group has acquired the 221-room Four Seasons Resort and Residences in Miami's Brickell business district. The Fort Lauderdale, Fla., developer bought the luxury property, which is housed in 11 floors of the 70-story building at 1435...

Spaulding Group has paid $26.3 million, or $147,753/unit, for the 178-unit Six Points Apartments in West Allis, Wis., about six miles west of Milwaukee. The Janesville, Wis., apartment investor bought the property from Trike Property Management of Milwaukee,...

ExchangeRight has paid $19 million, or $272.41/sf, for the Pick 'N Save Center, a 69,749-square-foot retail property in the Milwaukee suburb of Wauwatosa, Wis. The Pasadena, Calif., investment manager, which specializes in the tax-deferred exchange market, purchased the...

Portobello America, a maker and distributor of ceramic tile, which soon will start building a manufacturing facility on the 92-acre site of the former Tennessee Motor Speedway in Baxter, Tenn., is looking to sell the 890,000-square-foot property and...

Commercial Real Estate Direct Staff Report Boston Capital Real Estate Partners has paid $51 million, or about $161,905/unit, for the 315-unit Aventura Oak Mountain apartment property in Birmingham, Ala. The Boston company bought the complex, formerly known as...

Charlotte Business Journal Southwood Realty has paid $60 million, or about $178,571/unit, for the 336-unit Concord Ridge apartment property in Concord, N.C., about 19 miles northeast of Charlotte, N.C. The Gastonia, N.C., company bought the property, at 3635...

Phillips Edison & Co. formally has listed its common shares, pricing 17 million at $28 apiece, allowing it to raise $476 million. That's not including a 2.55 million-share overallotment, which would increase proceeds to $547.4 million. The Cincinnati...

American Landmark Apartments, which owns 100 properties with 34,000 units in the Southeast and Texas, has raised $918 million of equity commitments for its latest investment fund. American Landmark Fund III was launched by the Tampa, Fla., investment...

Prime US REIT has paid $99.5 million, or $520.14/sf, for the 191,294-square-foot One Town Center office building in Boca Raton, Fla. The Singapore company bought the property from a venture of CP Group and Siguler Guff & Co.,...

A venture of Anchor Health Properties and the Carlyle Group has paid $26.75 million, or $489/sf, for Vista Medical Plaza, a 54,703-square-foot medical-office building in Vista, Calif. Anchor Health, of Charlottesville, Va., and the Carlyle Group, of Washington,...

Triangle Business Journal Magma Equities has paid $42.4 million, or about $156,457/unit, for the University Apartments, a 271-unit property in Durham, N.C. The Manhattan Beach, Calif., company bought the three-story complex, at 1505 Duke University Drive, from an...

Vertical Ventures Capital LLC has paid $20.3 million, or $146/sf, for the 139,015-square-foot Moreno Corporate Center industrial/flex property in Moreno Valley, Calif. The Walnut Creek, Calif., investment manager bought the five-building property, at 14300, 14320 and 14340 Elsworth...

Tampa Bay Business Journal A venture of Foundry Commercial and Ascentris has sold a vacant 505,160-square-foot warehouse in Plant City, Fla., for $43.8 million, or about $86.71/sf. CBRE Global Investors bought the building, which was completed as the...

Finn Capital has paid $55 million, or nearly $424/sf, for 1649 Adrian Road, a 129,759-square-foot industrial building in Burlingame, Calif. The company is led by Stephen A. Finn, a San Mateo, Calif., property investor. It had purchased the...