Recent commercial real estate acquisitions
Below is a sampling of recent property transactions tracked by Real Capital Analytics (RCA). The largest completed transactions included office properties in Denver and New York City.
Franklin Street Properties has paid $217 million for Denver Service Center, a 20-story office building in Denver. The seller was Miller Global Properties. The property has 655,565 rentable square feet of space and is located in the financial district of Denver’s CBD.
In New York City, Westbrook Partners and Moinian Group sold 295 Madison Ave. to Eretz Group for $213 million. The joint venture partners paid $180 million for the property in 2007.
|
Buyer |
Seller |
Type |
Size |
Location |
Price (M) |
Price/Units |
|
Green Leaf Partners |
Equity Residential |
Apartment |
424 units |
Phoenix, AZ |
$41.50 |
$97,877.36 |
|
Hamilton Zanze & Co. |
Aimco/Fox Capital Management Corp. |
Apartment |
432 units |
Mesa, AZ |
$32.03 |
$74,131.94 |
|
Inland Real Estate Corp. |
Benchmark Group |
Apartment |
146 units |
Naples, FL |
$15.90 |
$108,904.11 |
|
PICOA |
Group I by Sansome Street |
Apartment |
63 units |
Berkeley, CA |
$13.50 |
$214,285.71 |
|
Weidner Apartment Homes |
Aslan Realty Partners |
Apartment |
220 units |
Phoenix, AZ |
$10.40 |
$47,272.73 |
|
LaSalle Hotel Properties |
Cornerstone Real Estate Advisers |
Hotel |
236 rooms |
San Francisco, CA |
$71.50 |
$302,966.10 |
|
Pebblebrook Hotel Trust |
Craig Schafer/Alan Battersby |
Hotel |
174 rooms |
Portland, OR |
$47.50 |
$272,988.51 |
|
Ryerson Equity |
Robert H Lewis |
Industrial |
220,000 sf |
Brooklyn, NY |
$26.38 |
$119.89 |
|
Industrial Income Trust |
John T Backus |
Industrial |
102,240 sf |
Kent, WA |
$10.15 |
$99.28 |
|
Franklin Street Properties |
Miller Global Properties |
Office |
655,565 sf |
Denver, CO |
$217.00 |
$331.01 |
|
Eretz Group |
Westbrook Partners/Moinian Group |
Office |
300,000 sf |
New York, NY |
$213.00 |
$710.00 |
|
Cornerstone Real Estate Advisers |
Normandy Real Estate Partners |
Office |
272,000 sf |
Boston, MA |
$110.80 |
$407.35 |
|
UniImmo: Europa |
DRA Advisors |
Office |
357,689 sf |
Austin, TX |
$103.00 |
$287.96 |
|
Keystone Property Group |
Mack-Cali Realty Corp. |
Office |
444,350 sf |
Berwyn, PA |
$74.44 |
$167.51 |
|
Keystone Property Group |
Mack-Cali Realty Corp. |
Office |
371,000 sf |
Philadelphia, PA |
$62.60 |
$168.73 |
|
ASB Real Estate Investments |
Brookfield Asset Management |
Office |
87,883 sf |
Washington, DC |
$53.50 |
$608.76 |
|
Kennedy Wilson |
Jamison Services |
Office |
188,366 sf |
N. Hollywood, CA |
$45.00 |
$238.90 |
|
Hines Global REIT |
LBA Realty |
Office |
132,064 sf |
Irvine, CA |
$38.20 |
$289.25 |
|
Keystone Property Group |
Mack-Cali Realty Corp. |
Office |
260,000 sf |
Media, PA |
$33.48 |
$128.77 |
|
Keystone Property Group |
Mack-Cali Realty Corp. |
Office |
125,783 sf |
Bala Cynwyd, PA |
$21.00 |
$166.95 |
|
Keystone Property Group |
Mack-Cali Realty Corp. |
Office |
167,748 sf |
Plymouth Meeting, PA |
$13.04 |
$77.71 |
|
USAA Real Estate Co. |
Concord Debt Holdings |
Office |
261,633 sf |
San Antonio, TX |
$12.00 |
$45.87 |
|
Keystone Property Group |
Mack-Cali Realty Corp. |
Office |
130,000 sf |
Blue Bell, PA |
$9.97 |
$76.66 |
|
Keystone Property Group |
Mack-Cali Realty Corp. |
Office |
100,700 sf |
Norristown, PA |
$7.90 |
$78.45 |
|
L&B Realty Advisors |
DRA Advisors |
Retail |
98,794 sf |
Englewood, CO |
$36.10 |
$365.41 |
|
Phillips Edison-ARC |
Citadel Development Co. |
Retail |
196,728 sf |
Erie, PA |
$21.40 |
$108.78 |
|
Ramco-Gershenson Property Trust |
Midland Loan Services |
Retail |
236,173 sf |
Palatine, IL |
$20.00 |
$84.68 |
|
Wheeler REIT |
BC Wood Cos. |
Retail |
214,450 sf |
Tullahoma, TN |
$11.50 |
$53.63 |
