Investment
Metzler RE Sells 305 KSF Corporate Center in Wilmington, Del., for $62M
It’s been nine years since Metzler Real Estate acquired the Bellevue Park Corporate Center in Wilmington, Del., and now the company has sold the 305,000-square-foot complex to The Buccini/Pollin Group in a $62 million transaction.
Griffin Capital Gets $111M Refi for 5-Property Portfolio
Griffin Capital Corp. and five single-purpose borrowing entities, wholly owned by the operating partnership of Griffin Capital Essential Asset REIT, have completed a $111 million refinancing of a five-property, 889,800-square-foot office and industrial portfolio.
Westmount Realty Capital Buys 1.5 MSF Industrial Portfolio in Chicago
Westmount Realty Capital acquired a 1.5 million-square-foot premier Chicago industrial portfolio sited in spots surrounding O’Hare International Airport from KTR Capital Partners.
Colony Realty Sells 212 KSF Office Building in Midtown Atlanta
Colony Realty Partners has sold 730 Midtown in Atlanta’s Midtown submarket to a joint venture consisting of Harbert Management Corp.’s Harbert United States Real Estate Fund V L.P. and The Simpson Organization.
W.P. Carey Closes Merger with Affiliate REIT, Gets New $1.2B Credit Facility
W.P. Carey last Friday closed the merger with its publicly held, non-traded REIT affiliate, Corporate Property Associates 16 – Global.
Kilroy Buys Hollywood Parcel for $300M M-U Project
Kilroy Realty Corp. has acquired a nearly four-acre parcel near the renowned intersection of Sunset and Vine from AMPAS in a $46 million deal, with plans to transform the site into a mixed-use development at a cost of $250 million to $300 million.
Simon Purchases Two Taubman Properties
Simon Property Group has acquired land in Syosset, N.Y., and a 50 percent interest in Arizona Mills in Tempe from the Taubman Centers for $60 million and 555,150 partnership units in Simon Property Group L.P.
Silicon Valley Office Portfolio Yields $200M in Financing for Carl Berg
NorthMarq arranged financing for an unencumbered, 711,000-square-foot office portfolio in California’s Silicon Valley through Prudential Mortgage Capital Co.
EPA, Freddie Mac Team Up on Energy Efficiency Plan
The agencies will examine how energy efficiency boosts affordability in multi-family assets financed by Freddie Mac.
Seller Finances Heitman JV’s Purchase of DC Office Building
A joint venture of Minshall Stewart Properties and an affiliate of Heitman L.L.C. secured the financing from Lone Star Funds to acquire 1401 New York Ave., N.W., in Washington, D.C.