Investment
HFF Arranges $29M San Diego MOB Sale
The 44,091-square-foot property is anchored by Fresenius Medical Care and was 92 percent leased at the time of the transaction.
Rexford Snags $36M SoCal Industrial Assets
The two fully leased properties are part of the South Bay and Orange County West submarkets, which had vacancy rates of 0.6 percent at the end of the first quarter of 2017.
Broward County Business Center Commands $13M
The asset consists of two connected buildings mixing industrial and office spaces. The previous owner renovated the property after acquiring it in 2015.
HTI to Buy Sibling’s Portfolio for $120M
Following the transaction’s closing, American Realty Capital Healthcare Trust III expects to liquidate and dissolve. The sale comprises 19 properties totaling approximately 468,000 square feet.
Non-Traded REITs: Go Mainstream or Die
Fundraising for the sector fell in 2016 due to the combination of impending regulatory changes and lackluster performance, notes Yardi Matrix Associate Director of Research Paul Fiorilla. The sector must continue to lower fees and improve liquidity to attract new investors.
Atlanta’s ACS Building Commands $166M
Cushman & Wakefield arranged the sale and acquisition financing for the American Cancer Society Building, a 995,700-square-foot property in the city’s downtown.
Blackstone to Buy Stake in $630M UK Firm
BREP Europe V is acquiring a majority interest in The Office Group, which is expected to reach more than 1.1 million square feet of flexible workspace within the next 12 months.
Jersey City Office Building Sells for $20M
Rhodium Capital Advisors acquired 600 Pavonia Ave., an 85,000-square-foot office building situated in Jersey City’s Journal Square neighborhood. The asset is set to undergo $3 million renovations.
Pennsylvania Offices Trade for $23M
Brookwood Financial Partners LLC disposed of three office buildings totaling 150,000 square feet located in suburban Philadelphia and the Lehigh Valley area. The properties are part of a 29-asset portfolio that the firm purchased in 2015.
Fort Lauderdale Office Asset Sells for $3M
The vacant property changed hands in an off-market deal. The new owner plans to renovate the building and bring it in line with Class A office standards.