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Denver apartment complex fetches $93M; St. Charles, Md., assets trade for $71M


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Denver apartment complex fetches $93M; St. Charles, Md., assets trade for $71M

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

* Bridge Investment Group acquired the 561-unit Esprit at Cherry Creek apartment community at 5001 E. Mississippi Ave. in Denver from a joint venture of TruAmerica Multifamily and Investcorp for $93 million, the Denver Business Journal reported.

* FCP Fund Manager LLC sold three multifamily properties, encompassing 564 units, to The Reliant Group for $71 million, completing its sale of the final 2,661 units in the Apartments of St. Charles portfolio in St. Charles, Md., for total proceeds of $435.3 million.

* Dayton Street Partners and an unnamed institutional investor acquired a 42-acre industrial property at 12161 S. Alsip Ave. in Alsip, Ill., for $31.5 million from Experior Transport, The Real Deal reported.

* Greenlaw Partners and an institutional partner sold the six-story, 98%-occupied, 122,080-square-foot Stadium Centre office property, on 3.64 acres at 2099 South State College Blvd. in Anaheim, Calif., for $28.8 million to an unnnamed private equity firm.

* A Welltower Inc. affiliate sold the 92%-occupied, 44,315-square-foot Heartland Health Care Center Miami Lakes nursing home, built on 5.7 acres at 5725 NW 186th St. in South Florida, to a Millennium Management LLC affiliate for $12.6 million, the South Florida Business Journal reported.

* Irvine Co. bought the 235,000-square-foot Paseo Del Mar class A office project at 12255, 12265 and 12275 El Camino Real in Del Mar Heights in San Diego, comprising three, three-story buildings, from Union Investment for an undisclosed price.

* Lennar Corp. will develop the Babcock National golf and country club in the master-planned community of Babcock Ranch in Southwest Florida. The community will feature an 18-hole golf course, among other amenities, with the sales expected to begin in the first quarter of 2019.

* Prologis Inc. leased over 115,000 square feet of ground-up industrial space in West Oakland, Calif., to Good Eggs Inc., with construction on the project expected to start in the next few weeks and the delivery anticipated in the second or third quarter of 2019, the San Francisco Business Times reported.

Additional coverage

AvalonBay Communities to net $460M from stake sale in 5 Manhattan, NY, assets

Hilton-branded hotel in Santa Monica, Calif., sells for $154M

Palo Alto, Calif., office building fetches $117.5M

Essex Property buys San Jose, Calif., apartment complex for $104M

Colony Capital unit acquires Ga. industrial portfolio