Transactions - JANUARY 26, 2015

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FSBA acquires four assets through Heitman

by Reg Clodfelter

The $177.4 billion Florida State Board of Administration has acquired four separate assets for a combined $212.9 million through separate account acquisitions closed by Heitman, confirms Dennis MacKee, director of communications with FSBA.

The largest acquisition was the $80.5 million purchase of a 417-unit multifamily complex in a suburb in northern Miami. The second-largest acquisition was the $59.4 million purchase of the Hannah Lofts, a 702-unit student housing complex in East Lansing, Mich., near Michigan State University. 

Two industrial acquisitions were made as well. The 672,000-square-foot Romeo industrial asset in Chicago was acquired for $43.9 million, and a 500,000-square-foot warehouse/industrial property in Denver was acquired for $29.1 million.

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