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Essential IR Insights Newsletter - February 2023

NY portfolio to change hands; St. Louis office building sells for $86M

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* Emerald Equity Group will acquire a three-building, 178-unit multifamily portfolio at 210, 220 and 230 W. 107th St. in New York for $95 million to $100 million from the Orbach Group, The Real Deal reported, citing sources.

* KBS Realty Partners sold the 325,172-square-foot, 100%-leased The Plaza in Clayton office building at 190 Carondelet Plaza in St. Louis to Franklin Partners for $85.5 million, the St. Louis Business Journal reported.

* Lincoln Property Co. sold a 157,900-square-foot industrial warehouse at 13668 Valley Blvd. in Industry, Calif., to Deutsche Asset Management for $27.2 million, The Real Deal reported.

* Stellar Management will acquire a six-story, 62,095-square-foot, 43-unit multifamily rental building in Hamilton Heights at 3501-3509 Broadway in New York for about $25 million from the estate of Harriet Okun, The Real Deal reported.

* HCA Health Services of Florida purchased a 7.5-acre property at 3400 S. University Dr. in Davie, Fla., from University Associates Ltd. for $22 million, with plans to build a 200-bed hospital, the South Florida Business Journal reported. The construction is expected to start in November, and the company is looking for development partners.

* Piedmont Office Realty Trust Inc. sold the 148,570-square-foot, 100% leased Upland Drive 8560 in Englewood, Colo., to Hendricks Commercial Properties for $17.6 million, marking its exit from the Denver market.

* An affiliate of Industrial Property Trust Inc. purchased a 256,000-square-foot distribution center on 29 acres at 7101 Distribution Dr. in Louisville, Ky., for $10.3 million from clothing retailer Ann Taylor, the Denver Business Journal reported, citing county records.

* Berengaria Development acquired the 277,059-square-foot, 96%-leased Porter's Vale Shopping Center along Highway 49 in Valparaiso, Ind., for an undisclosed price.

* TPA Group and USAA Real Estate completed the construction of the seven-story, 173,000-square-foot, class-A 3400 Overton office building in northwest Atlanta.

* Kilroy Realty Corp. is set to complete its office and industrial complex comprising two four-story buildings at Hooper Street 100 in San Francisco, Bisnow reported. About 311,000 square feet of the complex is leased to Adobe, while the ground floor has 86,000 square feet of light industrial space. Another building at 150 Hooper will serve as a manufacturing foundry with 49,000 square feet of light industrial space.

Additional coverage

Wanda to take on $1.2B Beverly Hills, Calif., project solo as partner splits

Report: Blackstone to put NYC office building back on the block

Walton Street venture acquires Chicago office complex for $360M

Gotham lands $218M loan for NYC residential building

Retail Opportunity Investments unit buys 2 properties for $97M