Valuation: More than $150 million
662-Unit Multifamily Portfolio in Norwalk, Conn., Trades for $293.5Mln
REBusiness Online Beachwold Residential LLC has bought The Norwalk Collection, a 662-unit multifamily portfolio in Norwalk, Conn., for $293.5 million, or $443,353/unit. The New York developer bought the portfolio from a venture of Invictus Real Estate Partners of New York ...
Douglas Emmett Pays $330Mln for Santa Monica, Calif., Apartments
Los Angeles Business Journal Douglas Emmett Inc. has paid $330 million, or $2.75 million/unit, for the 120-unit apartment property at 1221 Ocean Ave. in Santa Monica, Calif. The local REIT purchased the property from Irvine Co. of Newport Beach, Calif. ...
2 Los Angeles-Area Medical Office Properties Sell for $156Mln
Commercial Observer Harrison Street has paid $156 million, or $1,457/sf, for two medical office properties with a combined 107,000 square feet in Beverly Hills, Calif., and Santa Monica, Calif. The Chicago investment management firm purchased the properties from Stockdale Capital ...
2 Charlotte-Area Apartment Properties Trade for $160Mln
Charlotte Business Journal Blaze Capital Partners has sold a pair of apartment properties in the Charlotte, N.C., area for a total of $160 million. The Charleston, S.C., company sold the complexes to affiliates of Goldman Sachs. The properties are The ...
Invesco Buys Majority Interest in Roseland, N.J., Apartment Property in $160Mln Deal
Multi-Housing News Invesco Real Estate Income Trust Inc. has acquired a majority interest in the Everly Roseland apartment property in Roseland, N.J., in a deal valuing the 360-unit property at $160.5 million, or $445,833/unit. Novel Property Ventures of New York, ...
Innovo’s Deal to Buy Manhattan’s HSBC Tower for $855Mln on Hold
Commercial Observer Innovo Property Group's proposed purchase of the HSBC Tower in Manhattan for $855 million is on hold and could fall apart. The New York company so far has failed to secure financing for the deal, which was expected ...
MetLife Lends $210Mln for 396-Unit Apartment Property in Queens, N.Y.
Multi-Housing News Rockrose Development has lined up a $210 million loan from Metropolitan Life Insurance Co. against 47-05 Center Blvd., a 396-unit apartment property in Queens, N.Y. Avison Young arranged the 15-year loan, which allowed Rockrose to take out a ...
Avanath Pays $315Mln for 2 Brooklyn, N.Y., Apartment Buildings
Multi-Housing News Avanath Capital Management has paid $315 million, or $524,126/unit, for two apartment properties with 601 units in downtown Brooklyn, N.Y. The Irvine, Calif., investment manager bought the two buildings from Greenland USA, an affiliate of the Greenland Group ...
KBS REIT II Agrees to $165Mln Sale of L.A.’s Union Bank Plaza
Commercial Real Estate Direct Staff Report Harbor Associates has agreed to pay $165 million, or nearly $235/sf, for the Union Bank Plaza office building, with 701,888 square feet at 445 South Figueroa St. in Los Angeles. The Long Beach, Calif., ...
Destiny USA Mall in Syracuse, N.Y., Sees Appraised Value Slashed by 80 Percent
Commercial Real Estate Direct Staff Report Destiny USA Mall in Syracuse, N.Y., has had its appraised value slashed by 80 percent from its original value, to $147 million. The mall last was re-appraised in January 2021 at a value of $203 ...
About
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
Subscribe to our Weekly Newsletter!
