Recent commercial real estate transactions
Below is a sampling of recent property transactions tracked by Real Capital Analytics. The largest transactions are two office properties in New York City and Connecticut.
In New York City, Thor Equities has completed its acquisition of the Gucci Building in Manhattan for approximately $460 million. The seller was Gucci America. IREN reported in May that Thor will be renovating the property, located at 683–685 Fifth Ave., and had plans to sell a 50 percent interest after the transaction is completed. Its new partner in the building is General Growth Properties.
And in Westport, Conn., L&B Realty Advisors has sold the 372,207-square-foot office property Nyala Farms Corporate Center for $130 million. The new owner is Building & Land Technology.
| Buyer | Seller |
Type |
Units |
Location |
Price (m) | Price/units |
| DSF Advisors | AvalonBay Communities | Apartment | 433 units |
Danvers, MA | $108.50 | $250,577.37 |
| Kennedy Wilson | SARES-REGIS Group/CalPERS/Bridge Housing | Apartment | 542 units | Pittsburg, CA |
$96.50 | $178,044.28 |
| TruAmerica Multifamily/Guardian Life Insurance Co./Allstate Life Insurance | Berkshire Property Advisors | Apartment | 400 units |
Renton, WA | $61.80 | $154,500.00 |
| Milestone Apartments REIT | Milestone Properties | Apartment | 424 units | Orlando, FL |
$50.70 | $119,575.47 |
| Pure Multi-Family REIT | Sunstone Advisors | Apartment | 352 units |
League City, TX | $43.80 | $124,431.82 |
| Bascom Group/Oaktree Capital Management | AvalonBay Communities | Apartment | 320 units | Corona, CA |
$43.20 | $135,000.00 |
| EBSCO Industries | C-III Asset Management | Apartment | 240 units |
High Point, NC | $34.55 | $143,958.33 |
| Zencorr Properties | Aimco | Apartment | 350 units |
Doylestown, PA | $31.50 | $90,000.00 |
| Crest Realties | Abro Management | Apartment | 55 units |
New York, NY | $23.80 | $432,727.27 |
| JRK Asset Management | Inland Diversified Real Estate Trust | Apartment | 120 units | Chelsea, MA |
$22.35 | $186,250.00 |
| Retirement Concepts | H3T Capital Partners/MCS Capital Partners | Apartment | 161 units | Phoenix, AZ |
$10.88 | $67,546.58 |
| Rainbow Estates Group | Sugar Hill Capital Partners | Apartment | 24 units |
New York, NY | $8.50 | $354,166.67 |
| Rainbow Estates Group | Sugar Hill Capital Partners | Apartment | 22 units | New York, NY | $7.00 | $318,181.82 |
| Graycliff Capital | PRG Real Estate Management | Apartment | 176 units |
Spartanburg, SC | $6.00 | $34,090.91 |
| Graycliff Capital | PRG Real Estate Management | Apartment | 98 units |
Spartanburg, SC | $4.00 | $40,816.33 |
| Magna Hospitality Group | OTO Development | Hotel | 204 rooms | Washington, DC | $42.30 | $207,352.94 |
| Noble Investment Group | Baywood Hotels | Hotel | 151 rooms | Miami, FL | $25.60 | $169,536.42 |
| Cole Office & Industrial REIT | Trident Capital Group | Industrial | 750,000 sf | Columbus, OH |
$26.80 | $35.73 |
| Jones Lang LaSalle Income Property Trust | Beacon Partners | Industrial | 346,500 sf | Charlotte, NC |
$25.50 | $73.59 |
| Cole Office & Industrial REIT | Amcor Rigid Plastics | Industrial | 422,912 sf |
Franklin, IN | $19.80 | $46.82 |
| American Realty Capital | Levine Properties | Industrial | 146,142 sf |
Tempe, AZ | $16.05 | $109.82 |
| Thor Equities/General Growth Properties | Gucci America | Office | 115,330 sf | New York, NY |
$460.00 | $3,988.55 |
| Building & Land Technology | L&B Realty Advisors | Office | 372,207 sf | Westport, CT |
$130.00 | $349.27 |
| Pearlmark Real Estate Partners | Real Estate Equities/Mount Kellett | Office | 80,000 sf | New York, NY |
$118.90 | $1,486.25 |
| Vision Properties | KBS REIT II | Office |
422,470 sf | East Rutherford, NJ | $108.70 | $257.30 |
| Talon/Prudential Real Estate Investors | Hines U.S. Core Office Fund/Sumitomo Life | Office | 297,470 sf | Seattle, WA |
$101.00 | $339.53 |
| GLL Real Estate Partners | East West Partners/Starwood Capital Group | Office | 111,464 sf | Denver, CO |
$67.14 | $602.35 |
| ASB Real Estate Investments | Harbert Management Corp. | Office | 111,497 sf | San Francisco, CA |
$61.30 | $549.79 |
| First Potomac Realty Trust | Normandy Real Estate Partners | Office | 125,444 sf | Reston, VA |
$41.00 | $326.84 |
| Cole Office & Industrial REIT | Gutierrez Co. | Office | 150,673 sf | Burlington, MA | $39.40 | $261.49 |
| Tritower Financial Group | USAA Real Estate Co. | Office | 291,424 sf | Chelmsford, MA |
$39.27 | $134.74 |
| Finmarc Management | Charles Hudson/Richard Mazzucchelli | Office | 146,044 sf | Alexandria, VA |
$31.50 | $215.69 |
| Titanium Asset Management Group | Western Devcon | Office | 35,737 sf | Hollywood, FL | $13.00 | $363.77 |
| Boston Residential Group | DivcoWest Properties/Synergy Real Estate Services | Office |
55,794 sf | Boston, MA | $12.50 |
$224.04 |
| HTA | Arvind Jariwala | Office |
40,700 sf | Raleigh, NC | $11.50 |
$282.56 |
| RK Centers | Madison Properties | Retail | 386,853 sf | Worcester, MA | $49.00 | $126.66 |
| Inland Real Estate Corp. | Aronov Realty | Retail | 187,610 sf | Flowood, MS | $48.70 | $259.58 |
| Hornig Capital Partners/Hutensky Capital Partners/B&D Holdings | Forest City Enterprises | Retail | 361,000 sf | Cleveland, OH | $47.00 | $130.19 |
| TIAA-CREF | Amstar | Retail | 93,679 sf | Franklin, TN |
$44.40 | $473.96 |
| Inland Real Estate Corp./PGGM | Anchor Associates | Retail | 222,300 sf | Newport, KY | $43.30 | $194.78 |
| Nightingale Properties | Walgreens | Retail | 13,480 sf | Miami Beach, FL | $28.00 | $2,077.15 |
| Walter & Samuels | 316 Bowery Retail Corp. | Retail | 6,600 sf | New York, NY | $15.00 | $2,272.73 |
| JCR Cos. | Regency Centers Corp. | Retail | 51,800 sf | Lorton, VA | $13.80 | $266.41 |
| Serber & Associates | Janoura Realty | Retail | 67,202 sf | Fort Lauderdale, FL | $10.57 | $157.24 |
| Cole Credit Property Trust V | Eckstein Properties | Retail | 71,680 sf | Cartersville, GA |
$10.50 | $146.48 |
