The following story has been edited to correctly identify the buyer as Timberlane Partners. Commercial Real Estate Direct Staff Report Timberlane Partners has paid $55.5 million, or $334,337/unit, for the 166-unit Koi Apartments in Seattle. The Seattle developer...
A group of lenders led by Sumitomo Mitsui Trust Bank has provided $911 million of mortgage financing against the 670,000-square-foot office building at 425 Park Ave. in midtown Manhattan's Plaza District. The five-year loan, which pays a floating...
Commercial Real Estate Direct Staff Report An investor group led by Ramin Rostami has paid $36 million, or $679,245/unit, for the Beverly, a 53-unit apartment property in Portland, Ore. The group, based in Calabasas, Calif., purchased the property...
BisNow The two-building office and retail property at 303 West 42nd St. and 300 West 43rd St. in Manhattan's Times Square area has been put up for sale by its owner, KRW Development. Cushman & Wakefield has been...
Commercial Real Estate Direct Staff Report Asking capitalization rates for net-leased properties averaged 7.01 percent in the first quarter, according to the Boulder Group. That's up from the 6.9 percent cap rate posted in last year's fourth quarter and...
Commercial Real Estate Direct Staff Report Olshan Properties has acquired the 50 percent stake it didn't already own in the Fair Oaks Mall in suburban Washington, D.C., as part of a deal that included the negotiation of a...
Commercial Real Estate Direct Staff Report TPG Angelo Gordon has paid $21.25 million, or $250.81/sf, for McDowell Mountain Medical, an 84,725-square-foot office property in Scottsdale, Ariz. The Los Angeles investment manager purchased the property from Healthpeak Properties. The...
Commercial Real Estate Direct Staff Report Noble Corp. is vacating the 63,395 square feet it occupies as its headquarters at Sugar Creek I, a 204,377-sf office building at 13135 Dairy Ashford Road in the Houston suburb of Sugar...
Commercial Real Estate Direct Staff Report ACORE Capital has provided $75.4 million of financing to facilitate Trinity Investments' purchase of Scottsdale Plaza Resort and Villas, a 404-unit hotel in Paradise Valley, Ariz. Trinity, of Honolulu, bought the property...
Commercial Real Estate Direct Staff Report Spieker Cos. has paid $59.9 million, or $486,991/unit, for the 123-unit Southwood Apartments in Palo Alto, Calif. The local company purchased the property from Equity Residential. The deal was highlighted by Kidder...
Commercial Real Estate Direct Staff Report The 325-room Trumbull Marriott Shelton hotel near the Merritt Parkway in the Fairfield County, Conn., town of Trumbull, Conn., has been appraised at a value of $7.3 million - just 37 percent...
Commercial Real Estate Direct Staff Report Certares Management LLC has teamed with Belcourt Capital Partners to buy the 390-room Hilton Boston Back Bay at 40 Dalton St. in Boston for $171 million, or $438,461/room. The venture bought the...
Commercial Real Estate Direct Staff Report DTI Investments Inc. has paid $32.6 million, or $153,773/unit, for the 212-unit Vineyard apartment property in Ceres, Calif., near Modesto, Calif. The Santa Ana, Calif., developer purchased the property from Ray Stone...
MassDevelopment, the state development finance agency, has provided $24.5 million of tax-exempt bond financing for the development of a 66-unit apartment property in the Boston suburb of Chelsea, Mass. The bond was purchased by Broadway Securities Corp., a...
Commercial Real Estate Direct Staff Report Blue Owl Capital Inc. has agreed to buy Prima Capital Advisors for $170 million, expanding its investment management business to include commercial real estate finance and more specifically CMBS. Prima Capital, a...
Triangle Business Journal Highwood Properties Inc. has sold a portfolio of nine office buildings in the Raleigh-Durham, N.C., area for $79.4 million to three different buyers. Eight of the portfolio's buildings are part of the Rexwoods Office Park...
Commercial Real Estate Direct Staff Report Whitestone REIT has paid $22.2 million, or $319.51/sf, for Scottsdale Commons, a 69,482-square-foot retail center in Scottsdale, Ariz. The Houston REIT purchased the property, at 10392 North Scottsdale Road, from an affiliate...
Dwight Mortgage Trust has provided a $58.8 million bridge loan against the 260-unit Solis at Petrosa, a recently completed apartment property in Bend, Ore. The property, at 63158 Deschutes Market Road, was developed by Pahlisch Commercial. The Dwight...
Commercial Real Estate Direct Staff Report An affiliate of Royal Coffee has paid $31.7 million, or $242.89/sf, for the 130,513-square-foot industrial property at 5901 San Leandro St. in Oakland, Calif. The coffee and tea company purchased the property...
Kennedy Wilson has provided $83 million of financing for the construction of the 253-unit first phase of the Bayside Sarasota complex in Sarasota, Fla. The first phase, which also will have 2,000 square feet of ground-floor retail space,...
A venture of Ascendant Capital Partners and Culver Investment Partners has paid $60 million for a portfolio of three apartment properties with 470 units in Houston. The seller could not be learned immediately. Ascendant Capital is a Los...
Commercial Real Estate Direct Staff Report Arc Capital Partners has paid $25.25 million, or $309.87/unit, for the 81,485-square-foot industrial property at 40737 Encyclopedia Circle in Fremont, Calif. The Los Angeles investment manager purchased the property from Nuveen. The...
Citi Real Estate Funding Inc. has provided $155 million of financing against the 578,105-square-foot office and retail building at 28-40 West 23rd St. in Manhattan's Flatiron District. The five-year loan, arranged by Ackman-Ziff, allowed the property's owner, Williams...
Commercial Real Estate Direct Staff Report Weidner Apartment Homes has paid $112 million, or $341,463/unit, for Skywater at Town Lake, a 328-unit apartment property in Tempe, Ariz. The Kirkland, Wash., investor purchased the property from KB Development, which...
Commercial Real Estate Direct Staff Report Pacific Community Builders has paid $51.3 million, or $294,827/unit, for the Cambria, a 174-unit apartment property in Gilbert, Ariz. The Newport Beach, Calif., developer purchased the property from Bridge Investment Group of...
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