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Fla. multifamily property trades for $69M; San Francisco building sells for $65M

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Fla. multifamily property trades for $69M; San Francisco building sells for $65M

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

* Starlight U.S. Multi-Family (No. 5) Core Fund acquired the 315-suite Altis at Sand Lake multifamily property at 7118 Altis Way in Orlando, Fla., for roughly US$69.3 million.

* SF Armory LLC, an entity affiliated with private club and hotel operator Soho Club, acquired the 200,000-square-foot former National Guard Armory building in San Francisco's Mission district for $65 million, the San Francisco Business Times reported, citing a deed filed with the city.

* Waypoint Residential acquired the 214-unit Capital Creek at Heritage apartment community in Wake Forest, N.C., for $36.4 million and an adjacent seven-acre parcel for $900,000, the Triangle Business Journal reported.

* BP Realty sold the 1.8-acre 8590 Leesburg Pike land parcel at Tyco Rd. and Leesburg Pike in Virginia to a partnership between Clemente Development Co. and Khaled Juffali Co. Ltd. for $26 million, the Washington Business Journal reported.

* GGP Inc. sold The Shops At Fallen Timbers in Maumee, Ohio, for $21.0 million during the 2017 fourth quarter.

* Jernigan Capital paid $8.1 million to purchase the membership interests of its developer partners in three self-storage facilities across Fleming Island, Fla., and Alpharetta and Marietta, Ga., respectively.

* Liberty Property Trust invested $5.7 million for the acquisition of the 100%-leased, 124,217-square-foot industrial building at 1775 Hillcrest Rd. in Norcross, Ga., during the 2017 fourth quarter.

* BTB REIT sold a property at 2153-2155 Crescent St. in Montreal that serves as its head office for approximately C$3.2 million. The company said it will relocate its head office in the coming months.

* Madison Pacific Properties agreed to a 50/50 joint venture with an undisclosed residential developer to rezone and redevelop a 4.5-acre commercial property in Coquitlam, British Columbia, for commercial and residential use.

Additional coverage

Report: Google to pay more than $2B for Chelsea Market building in NYC

Barings closes US$650M sale of 7 US hotels to Hong Kong management company

Report: JBG SMITH to sell 2 Reston, Va., assets, for $217M

Liberty Property Trust buys Calif. industrial asset for $93M

Apple Hospitality REIT buys 2 Hilton-branded hotels for $63M