Business Specialties
KBS Buys $86M Denver Office Complex
KBS Strategic Opportunity REIT has purchased the Westmoor Center office complex in the Westminster submarket for $86 million.
Equity, Blackstone Sell New England Executive Park for $216M
The New England Executive Park, a 10-building office park in suburban Boston with more than 1 million square feet and approved for another 750,000 square feet of new development, was acquired for $216 million by Charles River Realty Investors and National Development.
$127M in Financing Closes for 37-Property CRE Portfolio
It has a little bit of this and a little bit of that, and now it has $127.5 million in financing. A 2.3 million-square-foot portfolio encompassing 37 industrial, office and retail properties in metropolitan Philadelphia and Melbourne, Fla., has landed a three-year loan provided by Natixis Real Estate Capital.
Grossman Co. Receives $88M Financing for Arizona Grand Resort
Grossman Company Properties has secured $88 million in financing for its 740-key, all-suite Arizona Grand Resort located in Phoenix.
Griffin-American Buys 21 Buildings in Five States for $141M
Griffin-American Healthcare REIT II has acquired 21 healthcare-related buildings in five states for $141.3 million, pushing the REIT co-sponsored by American Healthcare Investors and Griffin Capital Corp. to an overall portfolio value of $1.6 billion.
Morgan, DRA Buy 620-Unit Northampton Apartments in Largo, Md.
The 620-unit Northampton Apartments in Largo, Md., located roughly 15 miles outside of Washington, D.C., has come under new ownership. Acting in a partnership, Morgan Properties and DRA Advisors acquired the multi-family property from Equity Residential for approximately $95 million.
$2B Deal to Transform Old London Docks into Innovation Hub
London is getting ready to redevelop London’s Royal Docks, a $2 billion project dubbed Silvertown Quays, which will be the second phase in the redevelopment of the Silvertown area.
Boston Investor Acquires Gateway Center in Downtown Providence for $13.2M
In a $13.2 million deal, Albany Road Real Estate Partners of Boston has purchased the four-story 117,000-square-foot Gateway Center in downtown Providence. According to the Providence Journal, the transaction closed on May 23. Bank Rhode Island financed the acquisition with a $10-million, 10-year loan.
1.2 MSF Office Complex Sold In Metairie
One of Louisiana’s biggest office complexes has just sold. The three-tower Lakeway Center, in Metairie, suburban New Orleans was purchased by New York-based The Feil Organization for an undisclosed amount.
Potential Development Site Trades Hands in Bellevue’s CBD for $31M
Bellevue’s Central Business District is running out of room for development as one of the last spots in the area that could support a large commercial building was recently snapped up in a $31 million deal. Kidder Matthews representatives Andy Miller, Jason Rosauer, Dave Speers and Rob Anderson handled the sale on behalf of long-time owners Milt Walter and his wife, Sue Walter. The couple had owned the property for three decades prior to its recent trade to NIU Enterprises.