Deals
Boston Hotel Parking, Vacant Ground Floor Sell for $95M
Pebblebrook will use the proceeds for general business purposes, including reducing the company’s outstanding debt or repurchasing common shares.
NKF Brokers the Sale of 100 KSF Mixed-Use Property
The building is located in Woodridge, Ill., and offers a mix of office, research and warehouse space. It is partially occupied by Elevance Renewable Sciences Inc.
Sacramento-Area Shopping Center Trades
Soma Capital Partners, the new owner of Blue Oaks Marketplace, plans general capital improvements to attract a business in the food service space.
Vornado Speeds Up JBG Smith Spin-Off
Common shares of the new REIT—which will trade on the New York Stock Exchange under the symbol JBGS—will be available starting July 18.
Flagship Healthcare Nabs First Louisiana Property
The 55,000-square-foot medical office building in the New Orleans metro area was 72 percent occupied at the time of the transaction and is part of the campus of Lakeview Regional Medical Center.
Hanley Closes Inland Empire Retail 1031 Exchange
The firm negotiated the sale of a 33,708-square-foot pad building occupied by T.J. Maxx and ULTA Beauty in La Quinta, Calif. for around $8.9 million.
JV Scores Prime Boston-Area Office Portfolio for $270M
Longfellow Real Estate Partners has teamed up with Morgan Stanley to acquire three Class A office and tech properties totaling 605,873 square feet in Cambridge, Mass. Longfellow will handle the building operations on behalf of the joint venture.
TIER REIT Buys Big in TX, Sells in KY
The company acquired a Class A office asset in Plano for $123.3 million and sold a portfolio in Louisville, Ky., for $71.5 million.
AHIP Closes $407M Hotel Portfolio Purchase
The Canadian REIT is the new owner of the Eastern Seaboard Portfolio, a collection of 18 Marriott and Hilton properties in Maryland, New Jersey, New York, Connecticut and Pennsylvania.
Monmouth Acquires East Dallas Industrial Facility
Monmouth Real Estate Investment Corp. purchased a 352,000-square-foot industrial building in Mesquite, Texas. The property changed hands for $50.6 million.