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Deals news – page 64
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Jonathan Mechanic Elected as Next Chair of REBNYThe Real Estate Board of New York (REBNY), the City’s leading real estate trade association, today announced that Jonathan L. Mechanic, Chairman of Fried Frank’s Real Estate Department, has been elected to serve as the next Chair of REBNY.
CBRE Arranges Sale of Townhomes in KenoshaCBRE has arranged the sale of Bayside Townhomes, a 32-unit multifamily community in Kenosha. Campbell Creek Communities LLC purchased the property from Bayside Townhomes LLC for $7.14 million.
Lee & Associates Negotiates Sale of 70K-SF Oak Brook Office PropertyLee & Associates has negotiated the sale of the 70,497-square-foot commercial office property at 915 Harger Road, located in the heart of Oak Brook’s business corridor.
TA Realty Buys Two Staten Island Retail Buildings for $79MBoston-based real estate investment firm TA Realty has purchased two buildings within Staten Island’s Tysens Park Shopping Center, according to property records made public Monday.
EVO To Expand Katy Theater to 70K-SF Entertainment CenterEVO Entertainment acquired the former Xscape Movie Theater in the Katy-Fulshear market. The sale of the 55,000-square-foot theater building was brokered by Newcor’s Rob Banzhaf and Alexander Rizzotti, who represented the seller, Patoka Capital.
Sunstone Hotel Trades San Francisco Property to Blackstone for $279MSunstone Hotel Investors, Inc. said Tuesday it has agreed to sell the 821-key Hyatt Regency San Francisco to funds affiliated with Blackstone Real Estate for a gross sale price of $279 million, or approximately $340,000 per key.
Miami-Dade County Sells Apartment Site for $10Cipres paid Miami-Dade County $10 for a lot, enabling them to build an 8-story affordable housing project in the Wynwood neighborhood. With land costs so high in Wynwood, an affordable housing project in the neighborhood wouldn’t pencil out, hence the nominal price. The S.
Representative imageMatthews Arranges Sale of 76,269 SF Kroger Store in Columbus, MississippiCOLUMBUS, MISS. — Matthews has arranged the sale of a 76,269-square-foot Kroger grocery store located at 1829 U.S. Highway 45 N in Columbus, about 26 miles east of Starkville, Miss.
Glenstar, Private Investor Acquire 966,924 SF Office Tower in ChicagoCHICAGO — Glenstar, in a joint venture with a high-net-worth private investor, has acquired 500 W. Monroe, a 966,924-square-foot office tower in Chicago with a 1,300-stall parking garage.
BKM Capital Partners Acquires Carson Industrial Center in Southern California for $95MCARSON, CALIF. — BKM Capital Partners has purchased Carson Industrial Center, an industrial campus situated on more than 20 acres in Los Angeles’ South Bay submarket, from a global investment advisor for $95 million.
Alliance Residential Divests of 258-Unit Multifamily Property in PhoenixPHOENIX — Scottsdale, Ariz.-based Alliance Residential has sold Broadstone Seventh Street, a 258-unit multifamily property in north central Phoenix, to a leading global investor for an undisclosed price.
Mott Haven Development Site Set for One or More Residential BuildingsJLL Capital Markets arranged the $21.7-million sale of 122 Bruckner Blvd., a 172,774-square-foot residential development site in the Mott Haven section of the Bronx.
Former IHOP Site in Pacific Beach Trades as Redevelopment OpportunityWhitewater Commercial Real Estate, a San Diego-based commercial real estate brokerage specializing in multifamily investment sales and development opportunities, closed the sale of 856 Grand Ave., a redevelopment site located in Pacific Beach. The property sold for $8,000,000.
Naftali Credit Partners Arranges $75M Debt for Flatbush Condo ProjectNaftali Credit Partners has closed on a $75-million loan to support the development of 757 Flatbush Ave., a nine-story ground-up condominium development in Brooklyn’s Flatbush neighborhood.
Greenstone Partners Facilitates Sale of Forest Park Retail CenterGreenstone Partners arranged the sale of Circle Plaza, a 100% occupied multi-tenant retail center located in Forest Park, Illinois, for $8.41 million. The transaction was brokered by Greenstone Partner and Investment Advisor Connor Sheedy.
Kosher Grocer Bingo Wholesale Buys $50M Dev Site in Bed-StuyPopular kosher grocery chain Bingo Wholesale is expanding its Brooklyn footprint into Bedford-Stuyvesant.
Colliers Adds Justin Arzi From CBRE to NYC Capital Markets TeamColliers is further scaling its growing capital markets platform with the addition of veteran investment sales broker Justin Arzi from CBRE, Commercial Observer can first report.
As New York City’s COPA Program Returns, There’s an Opportunity to Do It BetterNew York City’s legislators are again considering the Community Opportunity to Purchase Act, premised on the fantasy that government can preserve low-cost housing by giving favored organizations an opportunity to buy available buildings at market prices.
LCG Capital Management Acquires 81,700 SF Office Campus Near St. LouisO’FALLON, ILL. — LCG Capital Management LLC has acquired Colony Square and Williamsburg Center, a seven-building, 81,700-square-foot office campus in O’Fallon near Scott Air Force Base.
Representative imageMarcus & Millichap Brokers Sale of 110-Site RV Park in Bridge City, TexasBRIDGE CITY, TEXAS — Marcus & Millichap has brokered the sale of the 110-site Town & Country RV Park in Bridge City, which is part of the Beaumont-Port Arthur metroplex in East Texas. The property spans 26 acres.