Investment
Boston Mixed-Use Lands $315M Construction Loan
Madison Realty Capital will provide the financing, while Cain International will contribute most of the equity for the $400 million Raffles Hotels & Resorts tower in the Back Bay neighborhood.
MPT to Invest $1.6B in Multi-State Hospital Portfolio
To retire an existing term-loan debt, Prospect Medical Holdings entered into a sale-leaseback agreement with the trust. The deal involves assets in California, Connecticut and Pennsylvania.
Onni Group Acquires Orange County Complex for $97M
Decron Properties, which has been paring down its office and retail holdings in recent years, sold Ocean Plaza following 13 years of ownership.
Upstate NY Mall Changes Hands for $30M
Douglas Development Corp. purchased the 961,800-square-foot shopping center in a suburb of Buffalo, with plans to revitalize and rebrand the struggling asset. The deal included an adjacent Wegmans grocery store.
Jacksonville Office Campus Commands $52M
A joint venture between Somerset Properties and Ten Capital Management acquired the three-building business park. CBRE assisted the seller in the transaction.
Northern Virginia Flex, Office Portfolio Trades for $44M
Minkoff Development purchased the five-building, 317,800-square-foot asset from Maguire Hayden Real Estate Co. The properties are part of the Avion Business Park, just south of Dulles International Airport.
Fund Buys 3 MSF Self Storage Portfolio
SROA Capital Fund VII picked up the 50 properties, spread across six states. The sale marks one of the largest of its kind.
St. Louis Business Center Changes Ownership
Green Street St. Louis acquired Cassens Business Center for $2.3 million in 2016 and completely renovated the property before selling it for $14 million with the assistance of Stan Johnson Co.
SVN Brokers Chicago Retail Asset Sale
A local real estate investor picked up two properties in the Lakeview neighborhood which are currently anchored by an Ann Sather restaurant.
Longfellow Real Estate Partners Acquires San Diego Office Property
The company will continue an extensive renovation plan that the previous owner begun, repositioning Sycamore Creek Research Park to accommodate life science and creative office users.