Investment
MetLife Investment Management Buys Boston Office Asset for $97M
Standing in for Normandy Real Estate Partners and Westbrook Partners, NKF Capital Markets arranged the sale of the 247,500-square-foot property at 89 A St. in Needham, Mass.
Faris Lee Makes New Hire
As senior managing director of capital markets, Jay Quinn will be responsible for debt and equity finance transactions across the U.S.
Asana Partners Buys LA Mixed-Use Portfolio
Engine Real Estate traded The Fig Collection at Highland Park for more than $23 million. The three-property portfolio includes multifamily, retail and office space.
Jacksonville CBD Office Tower Fetches $25M
The 18-story building underwent an expansive improvement program under the management of LNR Partners. The special servicer sold the asset with the help of Ten-X.
JV Acquires 350 KSF DC-Area Retail Center
GBT Realty Corp. teamed up with Equity Resource Investments and Avante Financial Group to buy Ellsworth Place in Silver Spring, Md. The asset was 93 percent leased at the time of sale.
Detroit Becomes Chemical Bank’s New Home
The company relocated its regional headquarters to its current downtown location and is set to develop a 20-story building at the corner of Woodward Avenue and Elizabeth Street.
MCR Buys $18M DC-Area SpringHill Suites
Located in Fairfax, Va., the 140-key hotel underwent $1.4 million worth of renovations last year. The six-story building dates back to 2009.
Cohen Investment Expands Georgia Footprint
The company has added to its portfolio two self-storage facilities located in Gardena City, a suburb of Savannah, GA. The buildings are within the industrial complex of Savannah.
Boston Properties Invests in NYC, LA Assets
The office transactions, which total more than 3 million square feet and involve partnerships, give the REIT a stake in Manhattan’s 3 Hudson project and West Los Angeles’ Santa Monica Business Park.
PGIM Sells Inland Empire Office Building
Greenlaw Partners purchased One Piemonte, a nearly 125,000-square-foot Class A building, for $29.5 million. The buyer funded the acquisition with a $19.2 million loan.