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Calif. multifamily property sells for $86M; Microsoft pays $48M for Ariz. land


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Calif. multifamily property sells for $86M; Microsoft pays $48M for Ariz. land

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

* TruAmerica Multifamily LLC partnered with ASB Real Estate Investments to purchase the Corte Bella multifamily property in Fountain Valley, Calif., for $85.8 million, The Real Deal reported.

* Microsoft Corp. paid approximately $48 million to buy 272 acres of land in Goodyear, Ariz., the Puget Sound Business Journal reported.

* Industrial & Commercial Bank of China Ltd., the third-largest tenant at the Trump Tower in Manhattan, N.Y., agreed to take about 100,000 square feet of space at SL Green Realty Corp.'s 1185 6th. Ave., The Real Deal reported, citing unnamed sources.

* Separately, Ion Media signed a 10-year lease extension at SL Green's 810 7th Ave. property in New York City, covering the entire 30th and 31st floors and a portion of the second floor, The Real Deal reported.

* Related Cos. LP paid $29.5 million to purchase the 152-unit Clarendon Court Apartments at 4500 N. Clarendon Ave. in Chicago from a group of sellers led by The Kopley Group Inc., The Real Deal reported.

* Viking Partners LLC sold the 100%-leased, 204,879-square-foot Houma Shopping Center in Houma, La., for $27.5 million.

* Duke Realty Corp. plans to develop a 1.39 million-square-foot industrial property on 77.9 acres of land in Katy, Texas, that it acquired from Landmark Industries Inc., the Houston Business Journal reported, citing documents filed with the Harris County Clerk's Office.

* Stockbridge Capital Group LLC purchased the Midtown headquarters of Interface Inc. at 1280 W. Peachtree St. in Atlanta from Parkside Partners Inc. for $24 million, the Atlanta Business Chronicle reported.

* True North Commercial REIT agreed to pay about C$6.3 million to purchase a 40,000-square-foot office property at 2300 St. Laurent Blvd. in Ottawa in a deal set to close on or about Oct. 1.

* Westwood Financial Corp. purchased the 24,601-square-foot Clybourn Galleria retail center at 1841-1847 N. Clybourn Ave. in Chicago from Newport Capital Partners for an undisclosed sum.

Additional coverage

Foulger-Pratt plans $400M mixed-use development in Fairfax County, Va.

Medical Properties Trust closes $148M sale of Texas medical center

KBS Realty sells $139M Texas office complex

Hanover Co. affiliate sells Atlanta apartment asset for $117M

CNL Healthcare Properties II to review possible strategic alternatives