Investment
The Mele Group Brokers Sale of PA Storage
Marcus & Millichap’s Tampa-based brokerage team arranged the sale of the 598-unit facility located in Harrisburg, Pa. The team represented both the seller and the buyer in the deal.
Meridian Closes 5th MOB Acquisition in California
The company will invest $3.6 million in upgrades to the property, which was vacant at the start of negotiations. While the sale was in escrow, Newmark Knight Frank found a tenant for half the building.
JV Sells $72M Long Island City Industrial Building
Less than two years after buying the asset, the joint venture between Metropolitan Realty Associates and TH Real Estate sold the property for a tidy profit.
AD1 Global Acquires $93M Hotel Portfolio
Seller Lingerfelt Commonwealth Partners spent $8.5 million on renovating the properties during its three-year ownership. The five assets are located in Orlando, Atlanta and Charlotte. N.C.
Twenty Lake Holdings Purchases Foreclosed Office Assets in VA
The seller, Massachusetts Mutual Life Insurance Co., came into possession of the Class A WillowWood III and IV in March 2016.
Inland Empire Office Changes Hands
CIP Real Estate traded the building, which contains more than 70,000 square feet of Class A space, for upwards of $20 million.
Thor Equities Sells Retail Space in Downtown Chicago
The buyer, Jenel Management Corp., paid $26 million for the two-story shopping center which is currently leased to Verizon, T-Mobile and Blick Art Materials.
Big Deals Dominate Q3
Sizeable portfolio buys and M&A activity pushed overall transaction volume to a remarkable $29.8 billion in the third quarter, according to Real Capital Analytics.
Goldman Sachs JV Pays $83M for Orange County Office Campus
The five-building property—encompassing more than 300,000 square feet of Class A office space—last changed ownership in late 2005 for $68 million.
Plymouth Industrial Closes Stock Sale, $97M Portfolio Purchase
The REIT sold $75 million worth of shares to Madison International Realty and used a portion of the proceeds to acquire a 1.1 million-square-foot group of assets in Jacksonville, Fla.