Transactions reported this week included the sale of offices in Tennessee and Sacramento.
TIER REIT acquired 5851 Legacy Circle, a class A office tower with approximately 319,000 square feet that is located in the Legacy Town Center area of Plano, Texas. Built in 2012, the 12-story office building was acquired by TIER for $123.3 million.
And in Sacramento, Calif., Hines acquired Park Tower, a 25-story, class A high-rise for $120.5 million. The seller was not disclosed. Park Tower is a 482,939-square-foot office building and includes an 800-stall attached structured parking garage, as well as the 350-stall parking garage at 1010 8th St.
| Buyer |
Seller |
Property name |
Size |
Price per size |
Location |
Price |
| APARTMENTS |
|
|
|
|
|
|
| Berkshire Group |
Hines |
Aviva Coral Gables |
276 units |
$362,318.84 |
Miami, FL |
$100.00 |
| Shorenstein Co. |
Benchmark Real Estate Group |
200 East 11th St. |
54 units |
$1,055,555.56 |
New York, NY |
$57.00 |
| The Schochet Cos./Jonathan Rose Cos. |
Not disclosed |
Glen Meadow |
288 units |
$177,430.56 |
Franklin, MA |
$51.10 |
| Acacia Capital Corp. |
Farnam Realty |
Chuparosas Apartments |
258 units |
$168,604.65 |
Chandler, AZ |
$43.50 |
| The Radco Cos. |
Not disclosed |
Cordova Apartment Homes (Sunstone Palms) |
536 units |
$77,798.51 |
Tampa, FL |
$41.70 |
| Electra America |
Not disclosed |
5721 Goodstone Dr. |
300 units |
$138,666.67 |
Raleigh, NC |
$41.60 |
| Auctus Capital Partners |
Not disclosed |
The Crest at Grand Terrace |
228 units |
$144,956.14 |
Grand Terrace, CA |
$33.05 |
| Not disclosed |
The Mogharebi Group |
Two-property portfolio |
236 units |
$138,000.00 |
Modesto, CA |
$32.57 |
| Not disclosed |
Starlight U.S. Multifamily (No.5) Core Fund |
Belle Haven |
176 units |
$160,795.45 |
Charlotte, NC |
$28.30 |
| Security Properties/Cigna Investment Management |
Not disclosed |
Soma Apartments |
74 units |
$378,378.38 |
Bellevue, WA |
$28.00 |
| HOTEL |
|
|
|
|
|
|
| Blackstone Real Estate Income Trust |
Waterton |
Hyatt Place San Jose Downtown |
236 rooms |
$275,423.73 |
San Jose, CA |
$65.00 |
| Highgate Holdings/Morgan Stanley Real Estate Investing |
Westport Capital Partners/PRES Cos. |
Pacific Edge Hotel |
109 rooms |
$527,522.94 |
Laguna Beach, CA |
$57.50 |
| INDUSTRIAL |
|
|
|
|
|
|
| Monmouth Real Estate Investment Corp. |
Not disclosed |
5005 Samuell Blvd. |
351,874 sf |
$143.86 |
Mesquite, TX |
$50.62 |
| Monmouth Real Estate Investment Corp. |
Not disclosed |
27200 SW 127th Ave. |
237,756 sf |
$161.29 |
Homestead, FL |
$38.35 |
| OFFICE |
|
|
|
|
|
|
| TIER REIT |
Not disclosed |
5851 Legacy Circle |
319,000 sf |
$386.52 |
Plano, TN |
$123.30 |
| Hines |
Not disclosed |
Park Tower |
482,939 sf |
$249.51 |
Sacramento, CA |
$120.50 |
| CBRE Global Investors |
Cornerstone Real Estate Advisers |
8750 North Central Expressway |
491,803 sf |
$244.00 |
Dallas, TX |
$120.00 |
| Not disclosed |
TIER REIT |
Five-property portfolio |
678,000 sf |
$105.46 |
Louisville, KY |
$71.50 |
| Regent Properties |
CBRE Group |
Camelback Commons |
322,406 sf |
$205.95 |
Phoenix, AZ |
$66.40 |
| Hayman Cos. |
Osprey S.A. |
Troy Officentre |
732,000 sf |
$75.14 |
Troy, MI |
$55.00 |
| Ocean West Capital Partners/Fortress Investment Group |
Lionstone Investments |
2901 West Alameda Ave. |
119,819 sf |
$375.57 |
Burbank, CA |
$45.00 |
| RETAIL |
|
|
|
|
|
|
| Westwood Financial Corp. |
Not disclosed |
The Arbors at Mallard Creek |
55,323 sf |
$453.70 |
Charlotte, NC |
$25.10 |
