Publications

Transactions - JUNE 14, 2013

Recent commercial real estate transactions

by Andrea Waitrovich

Below is a sampling of recent property transactions tracked by Real Capital Analytics (RCA). The largest completed transactions included two office properties in Manhattan sold by Invesco Real Estate.

Invesco Real Estate, with its joint venture partner The Kaufman Organization, sold 100–104 Fifth Ave., a 277,000-square-foot office condo, for $229 million to Clarion Partners. The property comprises two contiguous buildings. The Kaufman Organization and Invesco Real Estate purchased the building in late 2010 for $93.5 million.

The second building sold by Invesco Real Estate was held in a joint venture with its partner Stonehenge Partners. The Brill Building, an 11-story, 170,000-square-foot office building, was acquired by a joint venture between Allied Partners, Brickman Associates and Merchants Hospitality. The sales price was $185 million. Invesco Real Estate and Stonehenge purchased it from Murray Hill Properties and Westbrook Partners in 2007 for $151 million.

 

Buyer

Seller

Type

Units

Location

Price in $

$/Units

LLU Tennesse Multifamily Properties

Stonehenge Co.

Apartment

86 units

Nashville, TN

$15.60

$181,395.35

KBS Legacy Partners Apartment REIT

Rohdie Group

Apartment

305 units

Greenville, SC

$33.60

$110,163.93

JRK Asset Management

Harbor Group International

Apartment

430 units

Virginia Beach, VA

$44.00

$102,325.58

Wood Partners

Hamilton Zanze & Co./Praedium Group

Apartment

351 units

Aurora, CO

$33.40

$95,156.70

Radco Cos.

Shodeen Inc.

Apartment

208 units

Saint Charles, IL

$19.20

$92,307.69

Capital Investment Advisors

Oak Knolls Realty Corp.

Apartment

110 units

Fairfax, VA

$10.00

$90,909.09

Carey Watermark Investors

Magna Hospitality Group

Hotel

226 rooms

New York, NY

$113.00

$500,000.00

SK Realty Management

First Industrial/CalPERS

Industrial

345,600 sf

North East, MD

$19.20

$55.56

Allied Partners/Brickman Associates/Merchants Hospitality

Invesco Real Estate/Stonehenge Partners

Office

169,230 sf

New York, NY

$185.50

$1,096.14

Clarion Partners

Invesco Real Estate/Kaufman Organization

Office

277,412 sf

New York, NY

$229.00

$825.49

Deutsche Asset & Wealth Management

Anglo Irish Bank

Office

68,995 sf

Boston, MA

$21.00

$304.37

Gaia RE Holdings/Phoenix Insurance/Menorah Mivtachim Holdings

Hartz Mountain

Office

250,000 sf

Secaucus, NJ

$56.00

$224.00

W.P. Carey

Dividend Capital Total Realty Trust

Office

132,160 sf

Quincy, MA

$25.88

$195.79

Atlanta Property Group

Parmenter Realty Partners

Office

211,482 sf

Atlanta, GA

$28.00

$132.40

Transwestern

LNR Partners

Office

300,000 sf

Downers Grove

$22.90

$76.33

Campanelli Cos./TriGate Capital

CommonWealth REIT

Office

356,000 sf

Quincy, MA

$16.30

$45.79

Joseph Betesh

Jane Alexander Taylor Trust

Retail

143,230 sf

New York, NY

$62.00

$432.87

Starwood Capital Group

Macerich

Retail

892,951 sf

Salinas, CA

$120.00

$134.39

 

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