{"id":1004040609,"date":"2012-05-08T07:57:33","date_gmt":"2012-05-08T15:57:33","guid":{"rendered":"https:\/\/test.commercialsearch.com\/news\/?p=1004040609"},"modified":"2022-12-09T01:28:26","modified_gmt":"2022-12-09T09:28:26","slug":"may-sales-development-briefs","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/may-sales-development-briefs\/","title":{"rendered":"May – Briefs\/Sales & Development"},"content":{"rendered":"

Inland Buys Five Hotels<\/strong><\/p>\n

Inland American Lodging Group Inc., a subsidiary of Inland American Real Estate Trust Inc., has completed the acquisition of five hotels totaling 2,302 rooms for $393.1 million. The acquisition included a three-state, three-property portfolio acquired from DiamondRock Hospitality and two other, unrelated assets. The DiamondRock portfolio was purchased for $262.5 million, which equates to $184,600 per key. The portfolio encompasses the Renaissance Arboretum in Austin, the Renaissance Waverly in Atlanta and the Marriott Griffin Gate Resort & Space in Lexington, Ky.<\/p>\n

The other properties are the Marriott San Francisco Airport Waterfront in Burlingame, Calif., which was picked up for $108 million, and the Hilton St. Louis Downtown in St. Louis, Mo., which was purchased for $22.6 million.<\/p>\n

O\u2019Connor, Wafra Buy Two Retail Centers<\/strong><\/p>\n

O\u2019Connor Capital Partners and Wafra Investment Advisory Group have acquired two retail centers: They obtained a joint venture interest in The Promenade at Chenal, a 237,066-square-foot open-air center in Little Rock, Ark., and an ownership interest in Phase II of Settlers Ridge, a 94,603-square-foot open-air center in Pittsburgh.<\/p>\n

Healthcare Trust Closes Sale<\/strong><\/p>\n

Healthcare Trust of America Inc. has completed the acquisition of the Steward Portfolio, a 13-building, 371,551-square-foot medical-office portfolio located in the Boston MSA, for approximately $100 million. The portfolio is 100 percent master-leased by Steward Health Care System L.L.C.<\/p>\n

Wells Acquires Va. Office<\/strong><\/p>\n

Cassidy Turley has arranged the sale of South Lake at Dulles Corner, a 268,240-square-foot office building in Herndon, Va., adjacent to Washington Dulles International Airport. The 100 percent leased asset was picked up by Wells Core Office Income REIT for $91.1 million.<\/p>\n

JLL Fulfills $536M Construction<\/strong><\/p>\n

Jones Lang LaSalle Inc.\u2019s job as program manager for the development of Parkview Health\u2019s Parkview Regional Medical Center in Fort Wayne, Ind., is done. JLL was able to complete the $536 million, 975,000-square-foot, three-stage development process is three months ahead of schedule and at a cost that was $11 million less than the budgeted total.<\/p>\n

Hines Buys 1.8 MSF in Poland<\/strong><\/p>\n

Hines Global REIT has entered Poland in a big way with the $131 million purchase of 1.8 million square feet of industrial space. The Hines-sponsored REIT acquired a 92.3 percent leased group of four properties from Prologis European Holdings.<\/p>\n","protected":false},"excerpt":{"rendered":"

Inland buys five hotels; O\u2019Connor, Wafra buy two Retail Centers; Healthcare Trust closes sale; Wells acquires Va. office; JLL fulfills $536M construction; and Hines buys 1.8 MSF in Poland. <\/p>\n","protected":false},"author":1335,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743],"tags":[],"class_list":["post-1004040609","post","type-post","status-publish","format-standard","hentry","category-deals"],"acf":[],"yoast_head":"\nMay - Briefs\/Sales & Development - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/may-sales-development-briefs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"May - 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