Investment
MIPIM Special Series — Part Three: Europe
Associate editor Eliza Theiss presents a focus on the European real estate market, the third in a three-part series of reports on worldwide real estate based on presentations at the MIPIM world property market in March.
KBS REIT III Buys Three-Property Office Portfolio for $269M
KBS Real Estate Investment Trust III has kicked off summer with its largest purchase of the year. The REIT just completed the $269 million acquisition of a 1 million-square-foot group of three office properties in Dallas and suburban Washington, D.C., known as the National Office Portfolio from CBRE Global Investors.
USAA Sells 5 MSF Industrial Portfolio to Duke
Duke Realty Corp. continues boosting its industrial holdings with its latest acquisition – a nearly 5 million-square-foot, Class A, eight-property portfolio sold by USAA Real Estate for $311 million.
KBS Buys $86M Denver Office Complex
KBS Strategic Opportunity REIT has purchased the Westmoor Center office complex in the Westminster submarket for $86 million.
Equity, Blackstone Sell New England Executive Park for $216M
The New England Executive Park, a 10-building office park in suburban Boston with more than 1 million square feet and approved for another 750,000 square feet of new development, was acquired for $216 million by Charles River Realty Investors and National Development.
$127M in Financing Closes for 37-Property CRE Portfolio
It has a little bit of this and a little bit of that, and now it has $127.5 million in financing. A 2.3 million-square-foot portfolio encompassing 37 industrial, office and retail properties in metropolitan Philadelphia and Melbourne, Fla., has landed a three-year loan provided by Natixis Real Estate Capital.
Grossman Co. Receives $88M Financing for Arizona Grand Resort
Grossman Company Properties has secured $88 million in financing for its 740-key, all-suite Arizona Grand Resort located in Phoenix.
Griffin-American Buys 21 Buildings in Five States for $141M
Griffin-American Healthcare REIT II has acquired 21 healthcare-related buildings in five states for $141.3 million, pushing the REIT co-sponsored by American Healthcare Investors and Griffin Capital Corp. to an overall portfolio value of $1.6 billion.
Morgan, DRA Buy 620-Unit Northampton Apartments in Largo, Md.
The 620-unit Northampton Apartments in Largo, Md., located roughly 15 miles outside of Washington, D.C., has come under new ownership. Acting in a partnership, Morgan Properties and DRA Advisors acquired the multi-family property from Equity Residential for approximately $95 million.
CIM, Kushner Buy 466 KSF Office Building in Lower Manhattan from Savanna
CIM Group and Kushner Cos. have purchased the 26-story office building at 2 Rector St. in Manhattan’s Financial District from Savanna.