Recent commercial real estate acquisitions
Below is a sampling of recent property transactions tracked by Real Capital Analytics. The largest completed transactions included two office properties in Chicago and Massachusetts.
In Chicago, KBS REIT III purchased 500 West Madison, also known as Citigroup Center, an iconic, 1.5 million-square-foot mixed-use tower in Chicago, for $425 million. The sellers were joint venture partners General Electric Pension Trust and Estein & Associates. The 40-story building is located in the city's West Loop submarket. The purchase is KBS REIT III's largest and brings its total acquisition volume to $1.26 billion. The 500 West Madison acquisition is the latest in a series of high-quality KBS REIT III purchases in 2013 and the largest since the REIT commenced operation in 2011. The transaction follows KBS REIT III's $121 million purchase earlier this month of 201 Spear St., a 246,563-square-foot, waterf