RECENT NEWS
Suburban Dallas Industrial Building Sold
An affiliate of Big Industrial has purchased 1103 Carlos Parker Blvd., a 321,600-square-foot industrial property in the Dallas suburb of Taylor, Texas.The Prairie Village, Kan., developer of industrial properties, purchased the building from Burnes Home Accents, an Austin,...
LaSalle Lends $265Mln for Former Monkey Ward Warehouse
LaSalle Bank has provided $265 million of senior debt for 600 West Chicago, the former Montgomery Ward catalog distribution facility in Chicago.The property, constructed in 1908 and redeveloped in 2001, was purchased recently for roughly $289 million by...
Suburban Atlanta Office Park Sells for $18.1Mln
Crown West Realty has paid $18.1 million for Cobb Corporate Center, a 195,921-square-foot office/industrial park in the Atlanta suburb of Marietta, Ga.The Phoenix real estate firm is buying the complex from Brookwood Financial Partners of Beverly, Mass. Resource...
Winston Nixes Purchase of Tribeca Hotel
Winston Hotels Inc. has terminated its agreement to purchase the Tribeca Hilton Garden Inn, which is under construction in New York.The Raleigh, N.C., firm also agreed to dismiss its pending action against the undisclosed seller in exchange for...
USAA Real Estate Affiliate Buys Atlanta Industrial Building
An affiliate of USAA Real Estate Co. has purchased 5810 Trade Center Court, a 399,500-square-foot industrial building in Atlanta.The affiliate, US Industrial REIT II, purchased the building from Panattoni Development Co., a Sacramento, Calif., developer. Panattoni marketed the...
Klein Co. Lines up $33.5Mln of Financing for Suburban Philadelphia Apartments
The Klein Co. has lined up $33.5 million of financing for Townline Townhomes, a 320-unit residential property in the Philadelphia suburb of Blue Bell, Pa.The Philadelphia multifamily developer received the financing from Principal Global Investors. HFF Inc.'s Florham...
Icon Group Pays $160Mln for Multifamily Buildings in Manhattan
New York PostThe Icon Group purchased 35 multifamily buildings on Manhattan's Upper East Side for $160 million from the Klein family. The New York firm plans to upgrade the buildings, which include 760 apartments and five retail store...
Mack-Cali Pays $13Mln for Developable Land in Greenbelt, Md.
Mack-Cali Realty Corp. has paid $13 million for 43 acres of developable land adjacent to the Capital Office Park in Greenbelt, Md.The Cranford, N.J., REIT purchased the land from a venture between Greenbelt Associates and Sixteenth Springhill Lake...
Lexington, Winthrop Venture Raises Bid For Wells REIT
A venture between Lexington Realty Trust and Winthrop Realty Trust has increased the price of its tender offer to buy Wells Real Estate Investment Trust, Inc. The venture, which operates as Lex-Win Acquisition, raised its offer price to...
Correction: Noble Investment Group Buys Six Hotels
Noble Investment Group has acquired six hotels with a combined 754 rooms from Global Hyatt Corp. The purchase price was not released.Noble of Atlanta will invest an average of $30,000/key in converting the properties, now operated under the...
GPT Pays $265Mln for Seniors Properties Managed by Benchmark
Commercial Real Estate Direct Staff Report General Property Trust (GPT) of Australia has paid $265 million for a 95 percent stake in 19 properties managed by Benchmark Assisted Living. Benchmark, a Wellesley Hills, Mass., operator of seniors care...
Capital Partners Pays $143Mln for 320 Residential Units in San Francisco
Commercial Real Estate Staff reportCapital Partners has acquired the Rincon Center Residential Towers in San Francisco for $143 million from a fund managed by Beacon Capital Partners.The two building, 320-unit property at 88 Howard Street is part of Rincon...
Silver-McCann Purchases Dallas Apartments
Silver-McCann Apartment Group II has purchased the Barons Apartments, a 508-unit residential property in Dallas.The buyer, which is a joint venture between McCann Realty Partners and Silver Capital, purchased the property from an affiliate of Mockingbird Properties of...
Prudential Provides $35Mln of Financing for Durham, N.C., Hotel
An undisclosed owner has lined up $35 million of mortgage debt for the Sheraton Imperial Raleigh, a 331-room hotel in Durham, N.C.Prudential Mortgage Capital provided the financing, which carries a 10-year term with a fixed-rate. Todd Crouse of...
JEMB Realty Pays $50Mln for 190 Condominium Units in Annapolis
JEMB Realty has paid $50 million for the remaining 190 units at Regatta Bay, a condominium property in Annapolis, Md. The New York real estate firm purchased the units from an undisclosed seller. The units account for roughly...
Correction: Noble Investment Group Buys Six Hotels
Noble Investment Group has acquired six hotels with a combined 754 rooms from Global Hyatt Corp. The purchase price was not released.Noble of Atlanta will invest an average of $30,000/key in converting the properties, now operated under the...
Columbus, Ohio, Retail Property on Sales Block for $23.3Mln
An undisclosed seller is offering for sale Chantry Square, a 243,560-square-foot shopping center in Columbus, Ohio, for $23.3 million.The seller has tapped the Columbus office of Marcus & Millichap to market the property.Chantry Square sits on 21 acres...
Icon Group Pays $160Mln for Multifamily Buildings in Manhattan
New York PostThe Icon Group purchased 35 multifamily buildings on Manhattan's Upper East Side for $160 million from the Klein family. The New York firm plans to upgrade the buildings, which include 760 apartments and five retail store...
Mack-Cali Pays $13Mln for Developable Land in Greenbelt, Md.
Mack-Cali Realty Corp. has paid $13 million for 43 acres of developable land adjacent to the Capital Office Park in Greenbelt, Md.The Cranford, N.J., REIT purchased the land from a venture between Greenbelt Associates and Sixteenth Springhill Lake...
Klein Co. Lines up $33.5Mln of Financing for Suburban Philadelphia Apartments
The Klein Co. has lined up $33.5 million of financing for Townline Townhomes, a 320-unit residential property in the Philadelphia suburb of Blue Bell, Pa.The Philadelphia multifamily developer received the financing from Principal Global Investors. HFF Inc.'s Florham...
Capital Partners Pays $143Mln for 320 Residential Units in San Francisco
Commercial Real Estate Staff reportCapital Partners has acquired the Rincon Center Residential Towers in San Francisco for $143 million from a fund managed by Beacon Capital Partners.The two building, 320-unit property at 88 Howard Street is part of Rincon...
Lexington, Winthrop Venture Raises Bid For Wells REIT
A venture between Lexington Realty Trust and Winthrop Realty Trust has increased the price of its tender offer to buy Wells Real Estate Investment Trust, Inc. The venture, which operates as Lex-Win Acquisition, raised its offer price to...
Silver-McCann Purchases Dallas Apartments
Silver-McCann Apartment Group II has purchased the Barons Apartments, a 508-unit residential property in Dallas.The buyer, which is a joint venture between McCann Realty Partners and Silver Capital, purchased the property from an affiliate of Mockingbird Properties of...
GPT Pays $265Mln for Seniors Properties Managed by Benchmark
Commercial Real Estate Direct Staff Report General Property Trust (GPT) of Australia has paid $265 million for a 95 percent stake in 19 properties managed by Benchmark Assisted Living. Benchmark, a Wellesley Hills, Mass., operator of seniors care...
Prudential Provides $35Mln of Financing for Durham, N.C., Hotel
An undisclosed owner has lined up $35 million of mortgage debt for the Sheraton Imperial Raleigh, a 331-room hotel in Durham, N.C.Prudential Mortgage Capital provided the financing, which carries a 10-year term with a fixed-rate. Todd Crouse of...
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