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Deals news – page 74
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Olmstead, Vertex Acquire Repositioned 1916-Vintage Midtown OfficesOlmstead Properties, in partnership with Vertex, has acquired 19 W. 44th St., a 302,000-square-foot Midtown Manhattan office property, for an undisclosed price. The seller was Savanna, represented by Will Silverman of Eastdil Secured.
Roadside Development, Hudson Bay Capital Acquire Bethesda TowersRoadside Development, in partnership with Hudson Bay Capital, announced the acquisition of Bethesda Towers, a 600,000-square-foot, three-building office campus in downtown Bethesda, Maryland. The seller, Moore & Associates, will continue to oversee property management.
Targo Capital Partners Buys 185 East Houston Street, Part of $81M PortfolioReal estate investment firm Targo Capital Partners has acquired 185 East Houston Street, a six-story, 31-unit apartment building on Manhattan’s Lower East Side, for $30.8 million, according to property records made public Thursday.
Olmstead Buys 19 West 44th Street From Savanna at a 45% HaircutSavanna has sold 19 West 44th Street for a steep loss nearly nine years after acquiring the 18-story Midtown Manhattan office building for $195 million, Commercial Observer has learned.
JV Closes On 1,128-Bed Texas A&M Housing DealA joint venture between PCCP and The Dinerstein Companies has acquired two adjacent student housing communities totaling 1,128 beds at 1300 Harvey Mitchell Parkway South in College Station, serving students attending Texas A&M University.
CSC Real Estate Acquires Three Medical Properties on Upper East Side for $70MCSC Real Estate, a private equity and development firm, has acquired a medical office property at 210 East 86th Street on Manhattan’s Upper East Side, Commercial Observer has learned.
Mazaheri Acquires Norman Retail Center for $82.2MDisney Investment Group (DIG) brokered the $82.25 million sale of University Town Center (UTC) in Norman, Oklahoma. David Disney and Adam Crockett of DIG represented the seller, Rainier Companies and procured the buyer, Mazaheri Properties.
W. P. Carey Closes 43-Property Sale-Leaseback with GardenCoreNet lease REIT W. P. Carey (WPC) recently closed the sale-leaseback of a 43-property manufacturing portfolio with newly branded GardenCore (formerly Oldcastle Lawn & Garden), a leading U.S. manufacturer of lawn and garden consumables, for a reported $400 million.
Representative imageBerkadia Brokers Sale of 186-Unit Seniors Housing Property Near HoustonLEAGUE CITY, TEXAS — Berkadia has brokered the sale of Grand Living at Tuscan Lakes, a 186-unit seniors housing property in League City, about 30 miles southeast of Houston. Opened in 2023, the property offers independent living, assisted living and memory care residences.
CTO Adds 163K-SF Atlanta Retail Center to Property PortfolioCTO Realty Growth acquired Madison Yards, a 163,000 square foot retail center in Reynoldtown, for $73.3 million. An affiliate of Heitman Capital Management was the seller. Crawford Square Real Estate Advisors will lease and manage the property.
TPG-Led Investor Group Acquires ECHO Realty in $2B DealA TPG Real Estate-led group has acquired ECHO Realty, a full-service owner and operator of grocery-anchored retail real estate, in a transaction valued at approximately $2 billion.
Representative imageJonathan Rose Cos. Buys Upper Manhattan Affordable Housing Building for $53MNEW YORK CITY — Local investment firm Jonathan Rose Cos. has purchased The Caroline Apartments, a 126-unit affordable housing building in the Inwood section of Upper Manhattan, for $53 million. The building was constructed in 1980 and last renovated in 2008.
BLS: U.S. Economy Adds 172,000 Jobs in MayWASHINGTON, D.C. — Total nonfarm employment in the United States increased by 172,000 jobs in May, according to the U.S. Bureau of Labor Statistics (BLS).
Brennan Investment Group Acquires 202,000 SF Manufacturing Facility Near Knoxville, TennesseeVONORE, TENN. — Brennan Investment Group has acquired a 202,000-square-foot manufacturing facility located in the East Tennessee city of Vonore, about 35 miles south of Knoxville. The seller and sales price were not disclosed.
Levin Johnston Negotiates $23.7M Sale of Medical Office Property in Rohnert Park, CaliforniaROHNERT PARK, CALIF. — Levin Johnston of Marcus & Millichap has directed the sale of a 67,584-square-foot medical office property located at 5900 State Farm Drive in Rohnert Park. A private family ownership group acquired the asset from an undisclosed seller for $23.7 million.
CBRE Arranges Sale of 59.7-Acre Industrial Development Site in Pocatello, IdahoPOCATELLO, IDAHO — CBRE has arranged the sale of a 59.7-acre industrial development site located at 1800 River Park Way in Pocatello on behalf of developer Portneuf Capital. Lex Development acquired the site for an undisclosed price.
Game On: Family-Friendly Entertainment Grows RetailNot so long ago, a Texas Jewish Post story reported on the reinvention of a 160,000-square-foot building from a trade center into an entertainment destination.
Henderson Park, Pyramid Global Acquire Hyatt Regency Grand Reserve in Puerto RicoA joint venture has checked into the Hyatt Regency Grand Reserve in Río Grande, Puerto Rico.
Advanced Real Estate Acquires, Rebrands Rowland Heights ApartmentsAdvanced Real Estate has acquired the 126-unit Casa La Paz apartment community in Rowland Heights.
Rosewood Closes Off-Market Deal for Sunnyside Retail with Unused Air RightsRosewood Realty Group closed the $16,250,000 off-market sale of 40-02 and 40-18 Queens Blvd. in Sunnyside, Queens. The Schoellnast family bought the buildings in 1929 and has owned them since then.