Transactions - JULY 11, 2014

Recent commercial real estate transactions

by Andrea Waitrovich

Below is a sampling of recent property transactions tracked by Real Capital Analytics. The largest transaction was an office in Chicago.

KBS REIT II sold the 1.3 million-square-foot office tower at 300 North LaSalle in Chicago for $850 million, or $652 per square foot. The new owner was Irvine Co. HFF represented the seller.

The property is 100 percent occupied. Tenants include Kirkland & Ellis, Quaries & Brady, GTCR, Chicago Cut Steakhouse, Boston Consulting Group. KBS REIT II acquired the 60-story asset in July 2010 for $651.6 million. It was developed in 2009 by Hines.


Buyer  Seller  Type Units Location  Price (m) Price/units
AVR Realty  Greystar Management Apartment 376 units Fort Lauderdale, FL $78.80 $209,574.47
Bell Partners Hanover Co. Apartment 240 units Stoughton, MA $54.13 $225,520.83
AEW Capital Management Worthing Cos. Apartment 290 units Durham, NC $53.30 $183,793.10
TA Realty  JP Morgan Asset Management Apartment 300 units Chandler, AZ $39.20 $130,666.67
TA Realty  JP Morgan Asset Management Apartment 264 units Phoenix, AZ $36.25 $137,310.61
Reliant Group  Kewen Zhang Apartment 72 ujnits Happy Valley, OR $13.50 $187,500.00
Preston family  Catherine Dupuy Apartment 13 units New York, NY $13.50 $1,038,461.54
Loews Hotels  Graves Hospitality Corp. Hotel 255 rooms Minneapolis, MN $65.00 $254,901.96
Buccini-Pollin Group Fairwood Capital Hotel 317 rooms Knoxville, TN $25.00 $78,864.35
QTS Realty Trust  McGraw-Hill Industrial 560,000 sf Hightstown, NJ $75.00 $133.93
Broadstone Net Lease Cohen Financial Industrial 170,000 sf Elgin, IL $23.00 $135.29
Irvine Co. KBS REIT II  Office 1,302,901 sf Chicago, IL $850.00 $652.39
Clarion Partners ASB Real Estate Investments/Lincoln Property Co. Office 301,600 sf Los Angeles, CA $132.56 $439.52
Hines/Oaktree Capital Management Duke Realty Corp.  Office 404,889 sf Cincinnati, OH $69.20 $170.91
RREEF Property Trust  Realm Real Estate/Bascom Group Office 75,000 sf Anaheim, CA $18.50 $246.67
Acadia Realty Trust  Diamond Properties Retail 120,179 sf Bedford Hills, NY $46.75 $389.00
Bernstein Management Corp. Rock Creek Properties Retail 52,080 sf Sterling, VA $18.20 $349.46
Thor Equities  Greene Street Realty Corp. Retail 6,000 sf New York, NY $15.93 $2,655.00
Janoura Realty  Shoppes on 18 Street Retail 73,000 sf Boca Raton, FL $12.25 $167.81


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