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Deals news – page 77
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Pebblebrook Divests West Hollywood Hotel for $43MPebblebrook Hotel Trust completed the sale of the 115-key Chamberlain West Hollywood Hotel to an undisclosed third party for $43.5 million.
Interra Realty Brokers Sale of Bucktown Mixed-Use PropertyInterra Realty brokered the $4.95 million sale of 2105 W. Caton St. in Chicago’s Bucktown neighborhood. The nine-unit mixed-use property traded for $550,000 per unit.
Representative imageTitan General Sells Boca Mixed-Use Campus for $40MTitan General Partners has sold another asset in Boca Raton, Fla. Interface Properties paid $40 million for Fountains Center, a mixed-use campus that dates back to the 1980s and 1990s.
87K-SF Phoenix Office Building Trades in PhoenixCushman & Wakefield represented First & Center LLC in the sale of Fairmount Place, located at 4001 N. 3rd St. in Phoenix. Albuquerque SNF (Skilled Nursing Facility) acquired the property for $11.5 million.
Town Lane Picks 186-Bed League City Sr. Living FacilityBerkadia brokered the sale of Grand Living at Tuscan Lakes, a Class-A senior living community in League City, Texas, approximately 30 miles southeast of downtown Houston. Grand Living at Tuscan Lakes was purchased by Town Lane and Arcole Partners, its senior housing platform.
Investment Group Acquires 1.2M-SF Phoenix Industrial ParkMachine Investment Group (MIG), in a joint venture partnership with Miramar Capital and Axonic Capital, acquired The Hub @ 202, a 1,271,390-square-foot, 10-building industrial park located in the Southeast Valley submarket of Phoenix.
Adam Neumann’s Flow Makes First West Coast AcquisitionFlow, the real estate company founded by WeWork co-founder Adam Neumann, has acquired The Fay residential tower at 10 E. Reed St. in downtown San Jose for $175 million, the Silicon Valley Business Journal reported.
JLL Negotiates Sale of 838,446 SF Industrial Facility in Katy, TexasKATY, TEXAS — JLL has negotiated the sale of an 838,446-square-foot industrial facility in the western Houston suburb of Katy.
Partnership Purchases 1.3 MSF Industrial Property in PhoenixPHOENIX — A joint venture between Machine Investment Group, Miramar Capital and Axonic Capital has acquired The Hub @ 202, a 1.3-million-square-foot industrial park in Phoenix. Terms of the transaction were not disclosed.
PCCP, Alliance Residential Buy 184-Unit Multifamily Community in Riverside, CaliforniaRIVERSIDE, CALIF. — A joint venture between PCCP Multifamily and Alliance Residential Co. has purchased The Hawthorne, an apartment property located at 9170 Indiana Ave. in Riverside, for $65.3 million. Details of the transaction were not released.
Representative imagePebblebrook Sells Chamberlain West Hollywood Hotel Near Los Angeles for $43.5MWEST HOLLYWOOD, CALIF. — Pebblebrook Hotel Trust has completed the disposition of Chamberlain West Hollywood Hotel in West Hollywood. An undisclosed buyer acquired the asset for $43.5 million.
Representative imageSimonCRE Acquires 10 Acres to Develop Prasada East Retail Project in Surprise, ArizonaSURPRISE, ARIZ. — SimonCRE has acquired approximately 10 acres of land to develop Prasada East, a 98,000-square-foot open-air center located in Surprise, about 30 miles northwest of Phoenix. SimonCRE plans to break ground on the project later this spring.
Representative imageMarcus & Millichap Brokers Sale of 10,640 SF Retail Building in Kyle, TexasKYLE, TEXAS — Marcus & Millichap has brokered the sale of a 10,640-square-foot retail building in Kyle, a southern suburb of Austin, that is net leased to Dollar General. The building sits on a one-acre site adjacent to Lehman High School.
Representative imageSAGE Arranges $21.5M Sale of Northern New Jersey Apartment BuildingPALISADES PARK, N.J. — SAGE Investment Real Estate Advisors, a locally based brokerage firm, has arranged the $21.5 million sale of a 99-unit apartment building in the Northern New Jersey community of Palisades Park. The unnamed building offers studio, one- and two-bedroom units.
SL Green Selling Midtown Offices to Meadow PartnersSL Green Realty Corp. said Monday it sold 10 E. 53rd St. in Midtown Manhattan for total consideration of $312.2 million to Meadow Partners, a vertically integrated real estate investment manager specializing in global middle-market transactions.
Converted Belmont Mill Trades for $55.5MHarbor Group International purchased Chronicle Mill at 96 Catawba St. in Belmont from Armada Hoffler Realty Trust (AH). The Charlotte Business Journal reports the Chronicle Mill is a 238-unit adaptive-reuse apartment complex with 9,000 square feet of commercial space.
Representative imageColliers Negotiates $25M Sale of Grocery-Anchored Retail Center in OrlandoORLANDO, FLA. — Colliers has negotiated the sale of West Colonial Oaks, a 161,333-square-foot, grocery-anchored retail center located at the intersection of West Colonial Drive and Hiawassee Road in Orlando. A Dallas-based family office purchased the property for $25 million.
Koeppel Rosen Negotiates Five Leases in Midtown SouthKoeppel Rosen LLC, leasing and management agent for the Rosen family portfolio, secured five new office leases totaling 15,474 square feet at 1261 Broadway, an 11-story building in Manhattan’s Midtown South neighborhood.
Covina Apartments Trade on In-Place Cash Flow, Rental UpsideMarcus & Millichap has closed the sale of Vincent Village, a 40-unit apartment property located at 4810 N. Vincent Ave. in Covina. The property sold for $8.2 million, or $205,000 per unit, at a 5.9% cap rate with approximately 29% rental upside..
PCCP, Alliance Residential Snap Up Garden-Style Riverside ComplexA joint venture between PCCP and Alliance Residential Company completed the $65.3-million acquisition of The Hawthorne, a 184-unit multifamily community located at 9170 Indiana Ave. in Riverside. The seller was not disclosed.