M&G buys 30 assets in Japan from Blackstone; Arch Cos. sells 6 assets for $199M

TOP NEWS IN REAL ESTATE

* M&G Real Estate paid $424.3 million to buy a portfolio of 30 residential properties in key Japanese cities from Blackstone Inc., Mingtiandi reported.

* Arch Cos. sold a six-property portfolio comprising 1,963 units in the Carolinas and Florida for $199 million, Multi-Housing News reported. The properties include The Arlington, The Arcadian and The Charleston in Winston-Salem, N.C.; Riverbank and Midtown Oaks in Jacksonville, Fla.; and The Abner in Spartanburg, S.C., the report said.

➤ US REITs average short slightly down; casinos plunged in 2nd half of February

The casino sector average short interest nosedived by 3.1 percentage points to 2.2% of shares outstanding as of Feb. 28.

➤ 34 US REITs announce dividend increases in February 2022

In addition, three Canada-based real estate investment trusts announced dividend hikes during the same month.

OFFICE

* An affiliate of The Related Cos. LP and CP Group paid $144.5 million for the 267,000-square-foot Las Olas Square office complex in Fort Lauderdale, Fla., owned by Apollo Global Management Inc., Square2 and Steelbridge Capital, the Commercial Observer reported, citing people with knowledge of the deal.

RETAIL

* JH Real Estate Partners Inc. acquired the Inland Empire Center, a 309,500-square-foot shopping center in the city of Fontana in San Bernardino County, Calif., from The Baralat Co. LP for $70.5 million, the Commercial Observer reported.

RESIDENTIAL

* MLG Capital acquired the 255-unit Beyond Apartments in Woodbury, Minn., for $65.2 million, Multi-Housing News reported. Roers Cos. was the seller, the report added.

SPECIALTY

* Digital infrastructure company Equinix Inc. will acquire three data centers in Chile and one in Peru for an enterprise value of $705 million from Entel Chile.

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