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Deals news – page 92
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Representative imageMormon Church Buys Another Boca Rental for $240M in Top South Florida DealProperty Reserve — the real estate investment arm of the Church of Jesus Christ of Latter-day Saints — paid $240 million for a rental complex in Boca Raton in South Florida’s largest multifamily sale so far this year.
Representative imageFinial Group Negotiates 24,150 SF Industrial Lease in Pasadena, TexasPASADENA, TEXAS — Local brokerage firm Finial Group has negotiated a 24,150-square-foot industrial lease in Pasadena, an eastern suburb of Houston. The tenant is Paton Engineers & Constructors, and the space is located within the building at 218 N.
Davis Cos. Sells 922-Unit Self-Storage Facility in Metro BostonMEDFORD, MASS. — Locally based owner-operator The Davis Cos. has sold a 922-unit self-storage facility in Medford, a northern suburb of Boston.
Forbright Bank, R3 Ventures Acquire 12-Story Office Building in Chevy Chase, MarylandCHEVY CHASE, MD. — Forbright Bank has brought in R3 Ventures in the acquisition of Chase Tower, a 12-story office building located at 4445 Willard Ave. in Chevy Chase, a Maryland suburb of Washington, D.C.
SW Florida JW Marriott Trades for $835MJLL’s Hotels & Hospitality Group arranged the $835 million sale and $690 million financing for the JW Marriott Marco Island Beach Resort, an 809-room luxury beachfront property in Southwest Florida. JLL represented the seller, Barings, in the transaction.
SLIB Arranges Sale of 540-Unit Seniors Housing Portfolio in ColoradoFORT COLLINS, COLO. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an eight-property seniors housing portfolio located in Colorado.
Brixton Capital Buys Escondido Gateway Shopping Center in Metro San Diego for $28MESCONDIDO, CALIF. — Brixton Capital has acquired Escondido Gateway Shopping Center, an 89,252-square-foot retail center located in Escondido, approximately 30 miles northeast of downtown San Diego, for $28 million.
Representative imageTrinity and Sculptor Buy Oceanfront Resort on Florida’s Gulf Coast for $835MTrinity Investments and Sculptor Real Estate have closed their $835 million acquisition of an oceanfront resort along Florida’s Gulf Coast, financed with $690 million in commercial mortgage-backed securities (CMBS).
Greenstone Partners Brokers Sale of Skokie Retail CenterGreenstone Partners arranged the sale of Gross Point Crossing, a 19,000-square-foot suburban retail center located in Skokie, Illinois, for $3.875 million.
Owner/User Acquires Corona Drive-Thru RestaurantProgressive Real Estate Partners closed the $2.45-million sale of a free-standing, single-tenant 2,230-square-foot drive-thru vacant restaurant building located at 4330 Green River Rd. in Corona.
Walker & Dunlop Arranges $55M for Ohio Mixed-Use DevelopmentWalker & Dunlop has arranged $55.16 million in total construction financing for Phase I of Belle Oaks Marketplace, a mixed-use redevelopment in Richmond Heights, Ohio.
46K-SF Self-Store Property in Fort Wayne Trades HandsMarcus & Millichap arranged the sale of The Storage Place, a 45,950-square-foot self-store property in Fort Wayne, Indiana.
LeFrak Buys Related Group’s New Multifamily Tower in Fort Lauderdale for $180MThe LeFrak Organization has acquired Related Group’s new waterfront rental tower in Fort Lauderdale, Fla., for $180 million, property records show.
Representative imageNorm Ai Moves to 70K SF at Durst’s One World Trade CenterArtificial intelligence-powered legal and compliance firm Norm Ai is moving its headquarters to the Durst Organization’s One World Trade Center, Commercial Observer has learned.
Representative imageGlobal Net Lease to Acquire Modiv Industrial in $535M MergerTwo industrial real estate investment trusts (REITs) have come to a $535 million merger agreement.
Investor Group Acquires The Moran CityCentreMetroNational and hospitality firm Rockbridge, acquired The Moran CityCentre. Midway was the seller. The 244-room hotel features on-site offerings, including Café Moran and The Allegory Bar, featuring a terrace overlooking the central plaza.
Newquest Buys Katy Land for Apartments, RetailNewQuest has purchased 18.5 acres from a local investor to develop a retail and residential project on the north side of Katy in Harris County.
Global Net Lease to Acquire Modiv Industrial in All-Stock $535M DealGlobal Net Lease, Inc. (GNL) and Modiv Industrial, Inc, announced on Monday a definitive merger agreement under which GNL will acquire Modiv in an all-stock transaction valued at an enterprise value of approximately $535 million.
Representative imageOxford Partners Arranges 11,057 SF Industrial Lease in Northwest HoustonHOUSTON — Locally based brokerage firm Oxford Partners has arranged an 11,057-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the building at 13805 West Road was completed in 2000 and totals 61,600 square feet.
Representative imageDavis Cos. Sells 491-Unit Self-Storage Facility in BostonBOSTON — Locally based owner-operator The Davis Cos. has sold a 491-unit self-storage facility in Boston’s Brighton neighborhood. Davis acquired the facility at 235 N.