AUGUST 30, 2013

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Recent commercial real estate acquisitions

by Andrea Waitrovich

Below is a sampling of recent property transactions tracked by Real Capital Analytics (RCA). The largest completed transactions included office properties in Austin and New York City.

W. P. Carey, on behalf of its publicly held, nontraded REIT affiliates, CPA:17 – Global and CPA:18 – Global, bought State Farm Operation Center in a sale-leaseback from State Farm Mutual Automobile Insurance Co. The building, located in Austin, is leased to State Farm for an initial term of 15 years. The price was approximately $110 million plus transaction costs. The acquisition is the first investment made by CPA:18 – Global. 

In New York City, CIM Group acquired 5 Hanover Square, a 25-story, approximately 338,000-square-foot office building located in Lower Manhattan’s Financial District. CIM Group acquired the property from Savanna. This acquisition marks the second purchase by CIM in the Financial Distri

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