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Colo. apartments sell for $40M; Impulsive Group buys Fla. hotel for $21M


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Colo. apartments sell for $40M; Impulsive Group buys Fla. hotel for $21M

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

* Hamilton Zanze purchased the 208-unit, 157,004-square-foot Keystone Apartments at 12150 Race St. in Northglenn, Colo., from Aukum Group for $39.5 million.

* Impulsive Group acquired the 60-room, 175,000-square-foot Sands Harbor Resort & Marina at 125 North Riverside Drive in Pompano Beach, Fla., including three waterfront restaurants and a two-story commercial office space, for $21 million from Sands Harbor, The Real Deal reported.

* A joint venture of Walton Street Capital LLC and R2 Cos. is looking to sell a 107,000-square-foot office building at 641 West Lake St., and the 79,000-square-foot Glessner Center at 130 South Jefferson St. in Chicago for $55 million, The Real Deal reported, citing MB Real Estate.

* CBL & Associates Properties Inc. sold the Parkway Plaza community center in Ft. Oglethorpe, Ga., for $16.5 million to United Properties Corp.

* MedMen Enterprises Inc. agreed to sell three of its cannabis stores at 1308-1312 Abbot Kinney Blvd. in Venice, Calif.; 106-110 S. Robertson Blvd. in Los Angeles; and 823 S. 3rd St. in Las Vegas, for total expected proceeds of $12.5 million, to Treehouse Real Estate Investment Trust, and lease the properties back under long-term leases.

* Bascom Group LLC paid $6.3 million for the 29-unit Corona Del Norte infill apartment community in Torrance, Calif.

* Terreno Realty Corp. bought a 100%-leased, almost 24,000-square-foot industrial distribution building on 1.2 acres at 130 Commerce Rd. in Carlstadt, N.J., for about $3.5 million.

* Alexandria Real Estate Equities Inc. amended its long-term ground lease for the Alexandria Center for Life Science in New York with the New York City Health and Hospitals Corp. and the New York City Economic Development Corp. in order to develop the 550,000-square-foot North Tower. The company also acquired a 177,000-square-foot property in Long Island City, N.Y.

* Southern Management Corp. opened the 150-room Cambria Hotel College Park at 8321 Baltimore Ave. in College Park, Md.

* Vornado Realty Trust signed on Sard Verbinnen for a 15-year lease for the 31st and 32nd floors, totaling 65,000 square feet, of its 1.3 million-square-foot 909 Third Ave. office property in New York, at an average of $70 per square foot, The Real Deal reported, citing CompStak.

* Pennsylvania Real Estate Investment Trust said Belk will take up 123,000 square feet of space in the former Bon-Ton space in its Valley Mall in Hagerstown, Md.

Additional coverage

CapitaLand closes US$835M deal for US multifamily properties

Pebblebrook could fetch $500M from sale of LaSalle's Boston hotel

TIAA scraps sale of Manhattan, NY, headquarters

Downtown Bellevue, Wash., office building sells for $111M

Related Cos. to build $3B of luxury seniors housing properties