Recent commercial real estate transactions
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 |