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Investors - JUNE 28, 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 a South Florida apartment complex and an office property in Atlanta.

CBRE Global Investors sold a 1,520-unit apartment complex to a joint venture between Carroll Organization and American Property Holdings. The sales price was $225 million. The property was The Resort at Pembroke Pines, located in Pembroke Pines, Fla.

In Atlanta, Highwoods Properties purchased One Alliance Center, a 20-story office building, from ORIX Capital Markets for $140 million. Highwoods Properties also acquired the sister building to One Alliance Center, Two Alliance Center, which the company acquired in September 2012.

 

Buyer

Seller

Type

Units

Location

Price in $

$/Units

Crescent Heights

Rieder Holdings/Clipper Equity

Apartment

179 units

New York, NY

$120.00

$670,391.06

AvalonBay Communities

Hillwood Square Mutual Association

Apartment

160 units

Falls Church, VA

$38.00

$237,500.00

Preferred Apartment Communities

Oxford Properties

Apartment

96 units

Hampton, VA

$18.10

$188,541.67

Carroll Organization/American Property Holdings

CBRE Global Investor

Apartment

1,520 units

Hollywood, FL

$225.00

$148,026.32

Marquis Investments

Wilkinson Corp.

Apartment

64 units

Atlanta, GA

$8.91

$139,275.00

Fairfield Residential

TIAA-CREF

Apartment

200 units

Deerfield Beach, FL

$27.75

$138,750.00

RK Properties

Wasatch Property Management

Apartment

196 units

Gilbert, AZ

$25.72

$131,207.48

Fairfield Residential

TIAA-CREF

Apartment

208 units

Pompano Beach, FL

$27.00

$129,807.69

Goff Capital Partners

Alliance Residential Co.

Apartment

366 units

Brandon, FL

$38.80

$106,010.93

Hayman Cos.

Education Realty Trust

Apartment

240 units

Murfreesboro, TN

$20.70

$86,250.00

Pacifica Cos.

Abbey Residential

Apartment

400 units

Oldsmar, FL

$33.00

$82,500.00

ROC|Bridge Partners

 J Kislak

Apartment

360 units

Tucson, AZ

$25.63

$71,180.56

Marquis Investments

Wilkinson Corp.

Apartment

158 units

Atlanta, GA

$7.14

$45,172.15

Marquis Investments

Wilkinson Corp.

Apartment

135 units

Atlanta, GA

$5.61

$41,579.26

Marquis Investments

Wilkinson Corp.

Apartment

154 units

Atlanta, GA

$5.37

$34,858.44

Chatham Lodging Trust

Continental Real Estate Cos.

Hotel

178 rooms

Pittsburgh, PA

$40.00

$224,719.10

RLJ Lodging Trust

Akihiko Ito

Hotel

150 rooms

San Francisco, CA

$29.50

$196,666.67

Makar Properties

FelCor Lodging Trust

Hotel

160 rooms

Goleta, CA

$24.00

$150,000.00

Wright Hotels/Jerry Anches

Trillium Corp./Upper Skagit Indian Tribe

Hotel

198 rooms

Blaine, WA

$19.50

$98,484.85

Skyway Development

Beck Street Capital/Kimco Realty Corp.

Office

61,500 sf

New York, NY

$38.50

$626.02

Highwoods Properties

ORIX Capital Markets

Office

553,370 sf

Atlanta, GA

$140.10

$253.18

GC Essential Asset REIT

USAA Real Estate

Office

232,648 sf

Phoenix, AZ

$54.50

$234.26

Marcus Partners

RREEF Funds

Office

108,000 sf

Framingham, MA

$14.50

$134.26

LLJ Ventures

Exeter Realty

Retail

44,422 sf

Minneapolis, MN

$14.05

$316.28

Whitestone REIT

Rassier Properties

Retail

118,730 sf

Scottsdale, AZ

$21.30

$179.40

AmREIT

Westplan Investors

Retail

160,598 sf

Atlanta, GA

$27.70

$172.48

Phillips Edison – ARC

Wangard Partners

Retail

87,181 sf

Savage, MN

$15.00

$172.06

Ramco-Gershenson Properties

Brixmor

Retail

299,300 sf

Mount Prospect, IL

$36.10

$120.61

 

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