Finance
KBS REIT Sells $804M Portfolio to New Singaporean REIT
The 3.2 million-square-foot buy is part of the newly formed REIT’s plan to focus on office real estate in key U.S. growth markets.
On the Market: 5 Interesting Listings for November
This month’s listings include a historic Massachusetts multifamily asset built in 1895 and a recently renovated office/loft space in Birmingham, Ala.
HFF Arranges $27M MOB Portfolio Recap
The company acted on behalf of both borrower Catalyst HRE and investor Charter Realty Group. 100 percent leased, the portfolio comprises six medical office buildings totaling 68,000 square feet in FL and NC.
CREC Arranges $13M Sunrise Retail Sale
CREC Vice President Andrew Remick and Aztec Group Managing Director Peter Mekras worked on behalf of seller CPAC in the transaction.
Orlando Retail Center Lands $22M in Financing
CBRE negotiated the loan on behalf of Unicorp National Developments Inc. for its Westside Shoppes in Windermere, Fla. The 68,346-square-foot retail center is fully leased.
JV Obtains $15M Loan for Suburban Chicago Acquisition
The office building is located in Lombard, Ill., near several interstates. The new owners plan on upgrading the property’s amenities and bring lease rates to the current market value.
NewMark Merrill Buys CA Shopping Center
Madison Marketplace is located in Fair Oaks, Calif., and is 93 percent leased to several national and local retailers including Raley’s Supermarkets and TJ Maxx.
FL Self-Storage Project Receives $8M Loan
Walker & Dunlop has arranged the loan, structured with a 10-year term and 12-month construction period. Preferred Storage is expected to be completed in 2018.
JLL Secures $52M Refi for Space Mart Self-Storage Portfolio
The portfolio includes eight properties in Greater Philadelphia, Pennsylvania and Richmond, Va., totaling 554,823 square feet. JLL secured the loan.
Grandbridge Arranges Refi for 496 KSF Columbus Industrial
The Branch Banking and Trust Co. subsidiary originated the $7 million loan for 6606 Tussing Road, a R&D facility situated on nearly 30 acres.