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Comstock nabs full stake in Md. project; Strategic Storage Trust II closes 2-part Las Vegas buy


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Comstock nabs full stake in Md. project; Strategic Storage Trust II closes 2-part Las Vegas buy

This feature rounds uprecent property news from covered companies and highlights larger deal coveragealready published.

* ComstockHolding Cos. Inc. unit Comstock Beshers LC paid roughly $2.5 millionto acquire all of the membership interests in Dresden LLC, which owns 21 lotsin the Beshers South project in Frederick, Md.

The company will use proceeds from a newly obtained roughly$4.6 million loan to acquire and build residential dwellings on finished lotsin the project, develop residential dwellings on finished lots in the EmeraldFarm community in Frederick and pay the loan's closing costs. The loan,obtained Sept. 27, is secured by a first deed of trust on each project.

Moreover, Comstock on the same day obtained an estimated$2.1 million seller-financed loan with Pleasants Development LLC, and the loanis secured by a subordinate deed of trust against the Beshers project.

* StrategicStorage Trust II Inc. picked up a roughly101,400-rentable-square-foot, 11-building self-storage facility in Las Vegas aspart of a two-property transaction. The newly acquired83%-occupied facility sits on about 5.5 acres at 9890 Pollock Drive and contains around 810units.

* Griffin-American Healthcare REIT IV Inc. purchased aroughly 74,000-square-foot medical office building in Charlottesville, Va., forabout $20.1 million, plus closing costs, from PJP Building Five LC. AcquiredSept. 22, the three-story Charlottesville MOB is fully leased to Martha JeffersonHospital, University of Virginia Physicians Group and the U.S. Department ofVeterans Affairs.

Separately, the company closed on its of another MOB inPottsville, Pa., from Norwegian Real Estate LP. The contains about 36,000 square feet and is fully leased toIntegrated Medical Group PC and several other physician practice groups.

Additional coverage

Forest Cityfinalizes deal to redevelop Arlington County, Va., mall: Thedevelopment agreement won unanimous approval from the county board at a Sept.27 meeting.

SL Greencloses $1.5B construction loan for One Vanderbilt tower: The loanclosing will allow the project to move forward, SL Green Realty said. Thecompany also struck a leasing deal at The News Building in Manhattan, NY.

MedicalProperties Trust to acquire 9 hospitals in $1.25B deals: Thetransactions include a $50 million investment in the hospitals' operator,Steward Health Care System, which is owned by its management team and CerberusCapital Management.

Vornado jointventure wins bid for Moynihan Train Hall rebuild in NYC:Construction on the stalled project, to which Vornado has been linked for morethan a decade, will begin this fall.

Douglas EmmettJV forks out $139.5M on Calif. office property: The property willbe held in a joint venture including the company, Qatar Investment Authorityand other institutional investors.

Highwoodspicks up NC office tower: The company expects its total investmentin the property to hit $83.5 million.

EducationRealty finishes revamp of residential facility at The landmark facility has reopened and marks the firststudent housing public-private partnership at the university.

JLL IncomeProperty pays $65.5M for Minn. apartment complex: The acquisitionmarks the company's third multifamily property investment in 2016.

KBS Growth& Income REIT buys Houston office for $47M: The203,221-square-foot building is 94% leased to six tenants as of Sept. 1.

PureMulti-Family REIT signs US$34M deal to off-load Texas apartmentproperty: The deal is set to close at the end of October.

Cole Office& Industrial REIT unit ponies up $32.8M on Ohio property: Theunit funded the transaction using borrowings from a new revolving creditfacility and a subordinate promissory note.

Pro REIT toacquire 12 Canadian assets for C$63.3M, launches bought-dealoffering: The company agreed to sell 11.2 million trust units inthe bought-deal offering.