Investment
Orlando-Area Apartment Community Acquired by McCann Realty
Vista at Lost Lake Apartments, a five-year-old, 276-unit, garden-style rental community just outside Orlando, has been acquired by Richmond, Va.-based McCann Realty Partners. The property will be managed by Atlanta’s Pegasus Residential.
Parkway Sees $200M Equity Investment, Purchases 972 KSF Charlotte Office Tower for $250M
Aided by a $200 million equity investment from private investment firm TPG, Parkway Properties completed its purchase of Hearst Tower, a 46-story, 972,000-square-foot office tower in downtown Charlotte, N.C., for $250 million.
CNL Healthcare Trust JVs with Sunrise Senior Living on Seven-Property, $226M Agreement
CNL Healthcare Trust has signed an agreement with Sunrise Senior Living to enter into a joint venture that will change ownership of seven communities valued at approximately $226 million. Under the agreement, CNL will own 55 percent of the JV, with Sunrise retaining the remaining interest.
Sunstone to Sell Marriott Del Mar in California for $66M
Sunstone Hotel Investors continues a portfolio repositioning strategy with an agreement to sell the Marriott Del Mar in San Diego, Calif. The lodging REIT will trade the 284-room hotel in a $66 million transaction that will include the buyer’s assumption an existing $47.2 million mortgage.
Adler Fund, Kawa Buy 467 KSF Portfolio in Houston
A joint venture between the Adler Real Estate Fund and Kawa Capital Management has purchased five parks in Houston totaling 16 buildings and 467,000 square feet of office, industrial and flex space.
The Return of Spec: Myers Crow & Saviers Begins 135 KSF Office Project in Houston’s Energy Corridor
With nary a tenant commitment on the table, Myers Crow & Saviers Ltd. prepares to kick off construction of Mason Creek Office Center, a 135,000-square-foot building in Houston’s Energy Corridor in Katy, Tex. Ground is scheduled to break on the speculative project in the third quarter.
JLL: U.S. Hotel Transaction Volume Reaches $5.1B So Far in 2012
Jones Lang LaSalle’s hotels group has found that 2012 is shaping up to be a good year for the U.S. hospitality sector, with $5.1 billion of transaction volume moving so far this year — the second-highest volume in the past four years.
Kilroy Makes $145M Move on Two Seattle Office Properties, Preps for $186M More
Kilroy Realty Corp. continues expanding up the West Coast, adding two Seattle-area office properties for $145 million and getting ready to close on the 24-story Skyline Tower in downtown Bellevue, Wash., for $186 million.
CommonWealth Buys Trophy D.C. Building from Shorenstein for $198M
Hamilton Square, a former department store repurposed into an office building situated only a block from the White House, has been purchased by CommonWealth Partners from Shorenstein Properties for $198 million.
Invesco Spends $141M on NYC’s 130 Prince St.
Waterman Interests has turned a nearly $30 million profit on its asset at 130 Prince St. in New York City, selling the building for $140.5 million to Invesco after purchasing the property in 2007 for $112 million.