Lone Star buys senior living portfolio; Scannell sells Minn. industrial assets

TOP NEWS IN REAL ESTATE

* Roers Senior Living Buffalo LLC sold its portfolio of Havenwood Senior Living properties to Lone Star Americas Acquisitions Inc., or Lone Star Funds, for $160 million, the Minneapolis/St. Paul Business Journal reported. The properties include more than 550 independent and assisted-living apartments located across Minnetonka, Maple Grove, Burnsville, Richfield and Buffalo in Minnesota.

* Scannell Development Co. divested five industrial properties totaling over 832,000 square feet in Minnesota to Nuveen Real Estate in a deal worth over $137 million, according to the Minneapolis/St. Paul Business Journal, which cited filings with the Minnesota Department of Revenue.

➤ LaSalle ups stake in Kilroy Realty by over 20-fold, entries offset exits in Q4

LaSalle Investment Management Securities upped its stake in Kilroy Realty by over 2,000% and increased its share count in 14 others, while five newly added positions offset five exits during the fourth quarter of 2021.

➤ Basswood bets on Ally Financial; reduces holdings in top 3 investments

The hedge fund manager initiated 12 new positions worth a combined $54.3 million in the fourth quarter of 2021.

OFFICE

* CIM Group LP's real estate trust CMCT paid $51 million to purchase the 99,761-square-foot Rolf K. McPherson office building at 1910 W. Sunset Blvd. in Los Angeles from Foursquare Church, Commercial Property Executive reported.

RESIDENTIAL

* MWest Holdings paid $48.5 million to acquire 442 Residences, a newly built 94-unit luxury multifamily property at 442 W. Ocean Blvd. in Long Beach, Calif., from Ensemble Real Estate Investments, L.A. Business First reported.

* FPA Multifamily LLC purchased the 201-unit Monument Ridge Apartments in Flagstaff, Ariz., from Priderock Capital Management LLC in a $45.5 million deal, Multi-Housing News reported. The 13.9-acre community contains 15 buildings with one- and two-bedroom apartments, according to the report.

* Tejon Ranch Co. partnered with Majestic Realty Co. to build a multifamily residential apartment community consisting of up to 495 units and spanning roughly 22 acres on the east side of Tejon Ranch Commerce Center, located north of Santa Clarita, Calif.

INDUSTRIAL

* Dalfen Industrial LLC acquired a 408,308-square-foot industrial park, comprising two buildings, in a sale-leaseback deal in Forney, Texas. The acquisition also includes nearly 4.85 acres of undeveloped land.

* Canadian diversified real estate investment trust Cominar Real Estate Investment Trust received approval under the Investment Canada Act for the sale of its industrial portfolio to Blackstone Inc.

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