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El Monte, Calif., property fetches $41M; Crombie REIT sells 3 assets for C$27M


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El Monte, Calif., property fetches $41M; Crombie REIT sells 3 assets for C$27M

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

* Benedict Canyon Equities Inc. sold the 177-unit The Parker apartment complex at 4608–4640 Arden Way in El Monte, Calif., to Uhon Inc., a private equity firm affiliated with Chinese homebuilder Shenzhen Yuhong, for $40.5 million, The Real Deal reported.

* Crombie Real Estate Investment Trust sold three drug store-anchored properties encompassing a total of 51,471 square feet in Ontario's London, Niagara Falls and Toronto for about C$26.9 million in gross proceeds.

* SME Capital Ventures is looking to buy an eight-story, 41-unit rental building at 691 Marcy Ave. in Brooklyn, N.Y., from Brookland Capital for $22 million, The Real Deal reported, citing unnamed sources.

* Global Medical REIT Inc. paid about $17 million to acquire an approximately 42,000-square-foot, fully leased class A medical office building at 2250 S. Main St. in Corona, Calif.

* A Hartman vREIT XXI Inc. unit acquired the six-story, 77,822-square-foot 11211 Building office property in Houston from Cotter & Sons Inc. for approximately $5.0 million, exclusive of closing costs.

* Safety Income & Growth Inc. bought an existing ground lease on a 213-key, 12-story class A hotel in San Antonio.

* Michaels agreed to occupy 25,000 square feet at Pennsylvania Real Estate Investment Trust's Moorestown Mall in New Jersey, with opening expected in late 2019.

Additional coverage

Microsoft to invest $500M in Seattle area affordable housing

Hospitality Properties to sell 20 properties to TravelCenters for $308M

IDS Real Estate JV markets Calif. office campus for $280M

Starwood REIT Advisors affiliate buys hotel portfolio for $229M

Brookfield Asset sells Calif. office campus to Kennedy Wilson for $160M