Subject: Property Acquisitions (ACQ)

January 5, 2005 Colony Capital has agreed to pay $305 million for Water Terrace, a 450-unit luxury apartment building in Marina del Rey, Calif.The Los Angeles investment firm is buying the property from Equity Residential (NYSE:EQR), which developed it through ...

January 5, 2005 Mid-America Apartment Communities Inc. (NYSE:MAA) has acquired a three-community apartment portfolio totaling 964 units from JPI.The Memphis, Tenn., REIT paid about $78.8 million for the properties, including the assumption of about $51.1 million in debt.The properties include: ...

January 5, 2005 Sizeler Property Investors Inc. (NYSE:SIZ) has sold a 443-unit apartment complex in Fort Lauderdale, Fla., for $43.8 million.RAK Group Acquisition Corp., a private investor, purchased Lakeview Club Apartments, which had a book value of about $23.3 million ...

January 5, 2005 Terremark Worldwide Inc. (Amex:TWW) has bought out its joint venture partners to take full ownership of the Technology Center of the Americas in downtown Miami.The property, a 750,000-square-foot telecommunications facility, houses Terremark's flagship colocation facility, which it ...

January 4, 2005 TIAA-CREF sold two properties in the waning days of 2004 for a total of $90.7 million.On Dec. 22, the pension fund's TIAA Real Estate Account sold The Greens at Doral, an 440-unit apartment complex in Miami for ...

January 4, 2005 Inland Western Retail Real Estate has agreed to buy Four Peaks Plaza, a newly built shopping center in Fountain Hills, Ariz., for $31 million, or about $221/sf. The Oak Brook, Ill., real estate company is buying 140,571 ...

January 4, 2005 Trizec Properties Inc. (NYSE:TRZ) has sold the Bank of America Plaza in Columbia, S.C., for $33.8 million.The Chicago REIT sold the property to RFR Holdings of New York.. It was advised on the sale by Jones Lang ...

Loeb Partners has purchased Michigan Plaza from a Lehman Brothers-led group. The nearly 2 million-sf complex is roughly 70 percent leased.

January 4, 2005 Wells Real Estate Funds has sold a three-story, 76,000-square-foot office building in Appleton, Wis., for $10.3 million. Local firm Alexander & Bishop Ltd. acquired Marathon Center, which is 100 percent occupied. The Chicago office of CB Richard ...

January 4, 2005 The Boston GlobeA partnership managed by Forest Properties sold the Union Square apartment complex in Allston, Mass., for $40 million in a deal brokered by Apartment Realty Advisors. The buyer, J.S. Karlton Co. of Connecticut, plans to ...