Austin Business Journal A venture of Missio Capital and Bow River Capital has bought Veranda, a 362-unit apartment complex in Austin, Texas. Missio, of Austin, and Bow River, of Denver, purchased the garden-style property from its developer, Wayfinder...

Commercial Real Estate Direct Staff Report Principal Asset Management has paid $94.85 million, or $449,526/unit, for 8th + Republican, a 211-unit apartment property in Seattle. The Des Moines, Iowa, investment manager purchased the property, at 430 Eighth Ave....

Wells Fargo Bank has provided $162 million of financing for the development of the 534-unit Raye by Vermella apartment property in New Brunswick, N.J. The two-building property, at 51 U.S. Route 1, is being developed in phases by...

Commercial Observer Pearl Realty Management has paid $42 million, or $117.61/sf, for the 357,100-square-foot Standard Motors Product Building in the Long Island City section of Queens, N.Y. The Brooklyn, N.Y., investor acquired the office property, at 37-18 Northern...

Commercial Real Estate Direct Staff Report MG Properties has paid $64 million, or $237,037/unit, for the 270-unit Pearl at St. Rose apartment property in Las Vegas. The San Diego investment manager acquired the property from CONAM Group, also...

JLL Income Property Trust has paid $190 million, or $192.89/sf, for the 985,000-square-foot West Raleigh Distribution Center in the Raleigh, N.C., suburb of Apex, N.C. The Chicago REIT, whose shares do not trade on any exchange, purchased the...

Commercial Observer The venture of Silverstein Properties and Metro Loft Management that owns the 571-unit apartment building at 55 Broad St. in lower Manhattan has put it on the sales block. Newmark has been tapped to market the...

Multi-Housing News Rubicon Point Partners has paid $119.3 million, or $587,684/unit, for Madelon, a 203-unit apartment property in San Francisco. The local investment firm purchased the property, at 2823 18th St., through its Rubicon Point Fund II from...

Commercial Real Estate Direct Staff Report Microsoft Corp.'s lease for 494,523 square feet at the Bravern office complex in Bellevue, Wash., matured last month and the software giant, as expected, didn't renew, leaving the two-building complex completely vacant....

Tricon Residential has paid $44.15 million for two single-family rental properties with 91 units in Chandler, Ariz., and Mesa, Ariz. The Toronto company paid $23 million, or $534,883/unit, for Bower Hudson Crossing, with 43 units at 1373 East...

REBusiness Online Ashford Hospitality Trust Inc. has lined up a $218.1 million loan to refinance the 673-room Renaissance Hotel in Nashville, Tenn. The debt is being used to retire $267.2 million of financing that was securitized through BAMLL...

Kilroy Realty Corp. was the buyer of the 290,000-square-foot Maple Plaza office property in Beverly Hills, Calif. As reported, the property was purchased for $205 million, or $706.90/sf, from Tishman Speyer of New York, which bought it in 2005...

Kennedy Wilson has agreed to buy Toll Brothers' Apartment Living platform, through which the homebuilder developed apartment and student-housing properties, for $347 million. The sale by Toll Brothers allows the Fort Washington, Pa., company to start its exit...

Commercial Real Estate Direct Staff Report Neiders Co. has paid $36.06 million, or $152,796/unit, for U@19th, a 236-unit apartment property in Phoenix. Walker & Dunlop provided a $24.9 million Fannie Mae loan to facilitate the deal that was...

Local apartment owner Isaac Schwartz has paid $54.3 million for the development site at 970 Franklin Ave. in the Crown Heights section of Brooklyn, N.Y. He purchased the property from Continuum Co., which acquired it in 2017 for...

MetLife Investment Management has provided $89.25 million of mortgage financing against Mack Innovation Park Deer Valley Site C, a four-building industrial complex with 584,665 square feet in Phoenix. JLL Capital Markets arranged the loan on behalf of the...

Peachtree Group has provided $53 million of mortgage financing against the 203-room Morrow Hotel in the NoMa section of Washington, D.C. The floating-rate loan was arranged by JLL's Hotels & Hospitality Group. The Morrow, at 222 M St....

A venture of Mavrek Development and ACRES Commercial Realty Corp. has secured $73.4 million of financing to fund the conversion of the 222,768-square-foot office building at 65 East Wacker Place in Chicago into 252 apartments. Derby Lane Partners...

Commercial Real Estate Direct Staff Report Sobrato Organization has paid $32.9 million, or $421,794/unit, for the 78-unit Park Metro Apartments in the Seattle suburb of Bellevue, Wash. The Mountain View, Calif., investment firm purchased the property from a...

Commercial Real Estate Direct Staff Report Rithm Capital Corp. has struck a deal to pay $6.60/share, or $1.57 billion in cash, for Paramount Group, which has a portfolio of 17 office properties totaling 13.1 million square feet in...

Mountaineer Village, a 576-bed student-housing complex in Boone, N.C., has been sold for $68.5 million, or $118,924/bed. Walker & Dunlop brokered the sale on behalf of the seller, 10 Federal, a Raleigh, N.C., real estate investor that specializes...

Commercial Real Estate Direct Staff Report A substantial decline in occupancy and cash flow in recent years at 32 Ave. of the Americas in lower Manhattan has made it unlikely that the 1.1 million-square-foot office building's $425 million...

ConnectCRE A venture of Lincoln Property Co. and Bridge Investment Group has lined up $43.5 million of fixed-rate financing against Vibe at Echo Street West, a 292-unit apartment complex in Atlanta's Midtown area. CBRE arranged the Fannie Mae...

Commercial Real Estate Direct Staff Report Elme Communities, the former Washington REIT, has begun its liquidation with the $1.6 billion sale of 19 apartment properties with 5,804 units in Virginia, Georgia, and Washington, D.C., to Cortland. The Bethesda,...

Commercial Property Executive LBA Realty has paid $45.5 million, or $816.88/sf, for the 55,700-square-foot industrial property at 868 Cowan Road in Burlingame, Calif., about 14 miles south of San Francisco. The Irvine, Calif., company acquired the building from...