Investment
Blackstone, DDR Strike $332M Deal
A joint venture of retail REIT DDR Corp. and a Blackstone Group fund has acquired seven shopping centers with a total of 2.4 million square feet in major U.S. cities from a Regency Centers Corp. fund for $332 million, including $207 million of assumed mortgage debt and $28 million of new mortgage debt.
Winthrop Snaps Up 4 Class A Apartment Buildings for $246M
Winthrop Realty Trust has agreed to buy four Class A luxury apartment buildings from ST Residential for an aggregate price of $246 million.
Steadfast Makes Largest Purchase with $80M Austin Apartment Acquisition
Steadfast Income REIT acquired Meritage at Steiner Ranch in Austin for $80 million and The Belmont in the Dallas/Fort Worth Metroplex for $12 million, pushing its portfolio to more than 10,000 units in 43 apartment communities in 10 Midwestern and Southern states.
Tishman Speyer Grabs Iconic Chicago Tower
Global real estate owner, operator and developer Tishman Speyer now has 10 Chicago properties in its portfolio after closing on the acquisition of 190 South LaSalle, a Class A building in the city’s Central Loop, from CBRE Global Investors for a reported $211 million.
Behringer Harvard Buys 240-Unit Suburban Houston M-F Property
Behringer Harvard has expanded the portfolio of Behringer Harvard Opportunity REIT II Inc. with the acquisition of Parkside Apartments in Sugar Land, Texas, approximately 20 miles outside of Houston.
KTR Buys 543 KSF Industrial Project in Metro Dallas
An affiliate of KTR Capital Partners has closed on the acquisition of 600 109th St. in Arlington, Texas, a three-building, 543,000-square-foot project near State Highway 360 in the Lower Great Southwest submarket of Dallas.
Strategic Capital, Crest Asset Sell 636-Unit Dallas M-F Portfolio
Seven years after Strategic Capital Partners and Crest Asset Management acquired St. Andrews Apartments and Montclair Apartments, two multi-family communities totaling 636 residences in Dallas, the JV partners have sold the Class A assets to Pensam Capital.
1 + 3 Equals $2.3B Deal for Inland, ARC
Three REITs sponsored by AR Capital are the prospective buyers, for a total of nearly $2 billion, of a 16.5 million-square-foot portfolio of 294 largely net-leased retail, office and industrial properties to be sold by Inland American Real Estate Trust.
Transwestern, Cornerstone Sell 350 KSF Houston Office Property
Five years after acquiring 21 contiguous acres of land for the planned two-tower Eldridge Oaks office development in Houston, Transwestern and Cornerstone Real Estate Advisors have sold the site, along with the 350,000-square-foot trophy tower they developed at the location in 2009.