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Bronx, NY, apartment portfolio sells for $75M; Fla. project trades for $20M


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Bronx, NY, apartment portfolio sells for $75M; Fla. project trades for $20M

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

* Camber Property Group LLC, Belveron Partners LLC and New York City's Department of Housing Preservation and Development bought an 11-building, 343-unit Bronx multifamily portfolio for $75 million from Black Spruce Management, with plans to convert 100 market-rate apartments back into affordable units, The Real Deal reported. The buildings are at 1892-94 Arthur Ave.; 1898, 1899, 1900 and 1908 Belmont Ave.; 2082, 2083, 2088 and 2090 Mohegan Ave.; and 2095 Honeywell Ave.

* An affiliate of Frisbie Group LLC sold the retail, restaurant and underground parking garage sections of the 1.3-acre Royal Poinciana project at 212 and 216 Sunset Ave. and 221 and 231 Royal Poinciana Way in Palm Beach, Fla., for $20 million to Flagler Holdings North Carolina, the South Florida Business Journal reported.

* Balfour Beatty Communities LLC, ApexOne Investment Partners and American National Insurance Co. purchased the 306-unit Preserve at Southwind apartment community in Memphis, Tenn., for an undisclosed amount.

* Spire Realty Group LP acquired the 126,626-square-foot Lockhill Crossing office building at 4630 N. Loop 1604 W. in Shavano Park in San Antonio from Stream Realty Group, according to the San Antonio Business Journal. The deal was funded with a $25 million loan.

* Brandywine Realty Trust sold the three-building, 510,200-square-foot Station Square office complex at 1100 and 1010 Wayne Ave. and 84848 Georgia Ave. in Silver Spring, Md., to a unit of Bridge Investment Group for an undisclosed amount, Commercial Property Executive reported.

* Gladstone Commercial Corp. acquired a 100%-leased, 87,080-square-foot, three-story office building in the Lake Mary suburb of Orlando, Fla., for $18.5 million.

* Reven Housing REIT Inc. purchased 27 single-family homes in Oklahoma City for about $5.8 million.

* Hook & Ladder Development LLC will acquire a three-story, 7,756-square-foot building at 2189 Seneca St. in Buffalo, N.Y., for $275,000 from Jake Schneider, Buffalo Business First reported.

Additional coverage

Brookfield affiliate completes $218M Florida golf resort purchase

Report: Tishman Speyer to sell Los Angeles campus to Onni Group for $630M

VICI Properties, Penn National complete Bossier City, La., resort casino deals

Welltower to purchase 55 properties from CNL Healthcare for $1.25B

Modell's sells Bronx, NYC, warehouse for $115M

Centurion Property acquires NYC apartment building for $227M