Deals
Xenia Invests $305M in 2 AZ Hotels
The company purchased the 493-key Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch in Scottsdale, Ariz., as well as the 119-key Royal Palms Resort & Spa in Phoenix. Both hotels will continue to be managed by Hyatt.
Plaza Del Norte Buys San Diego-Area Office Asset
Courtyard Mira Mesa sold The Courtyard I in Sorrento Mesa, Calif. The 50,405-square-foot office building was 68 percent occupied at the time of sale.
IMH Lands Historic Sonoma Hotel
The Scottsdale-based group purchased MacArthur Place, a 64-key hotel in California. The new owner intends to upgrade and rebrand the hotel as L’Auberge de Sonoma.
Medical Office Portfolio Commands $230M
MedProperties Holdings is the new owner of 17 multi-state Harrison Street health-care assets totaling 620,000 square feet. The transaction marks the company’s single-largest acquisition in terms of purchase price, number of properties and total square footage.
ORION Facilitates Phoenix Retail Center Sale
Paragon Southern Plaza LLC sold the 16,980-square-foot property for $1.8 million. Southern 19 Plaza is located in a strong trade area near a major artery in the city.
Bridge Development to Sell $700M Industrial Portfolio to Duke
The deal encompasses a 3.4 million-square-foot group of properties and two soon-to-be-developed land parcels in key infill markets across Southern California, Northern New Jersey and South Florida.
CBRE to Acquire Heery International
The company is buying the project management solutions provider from Balfour Beatty LLC for $57 million. Heery President Theodore Sak and COO Glenn Jardine will remain on board when the deal closes later this year.
Coastal Ridge Enters TN Market With $57M Acquisition
In a partnership with H. Katz Capital, the company purchased The Preserve at Forest Creek, a 414-unit community in Memphis. Blackstone subsidiary LivCor sold the asset.
MidCoast Properties Closes on GA Self-Storage Deal
The property, Lawhorne Storage, is located in Sylvester, Ga., and offers more than 26,000 rentable square feet. The buyer is an out of state investor.
Tallest Building in SC Gets New Ownership
The 25-story office building was 87 percent leased at the time of the sale to a mix of tenants including government, law, banking and insurance industries.