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Mass. industrial portfolio sells for $73M; Seattle apartment trades for $73M

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Mass. industrial portfolio sells for $73M; Seattle apartment trades for $73M

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

* L&B Realty Advisors LLP acquired two industrial assets encompassing 775,000 square feet in Massachusetts for $72.7 million from Novaya Real Estate Ventures, Commercial Property Executive reported, citing public records. The assets are at 1 Distribution Circle in Littleton and 154 Campanelli Drive in Middleborough and are 100% leased.

* Intercontinental Real Estate Corp. and RISE Properties Trust bought the 239-unit West Ridge Park apartment complex at 7901 Delridge Way SW in Seattle for roughly $72.5 million, according to the Puget Sound Business Journal, citing public records.

* Angus McCarthy purchased the 150,000-square-foot Lion Building office-and-industrial property at 2525 16th St. in San Francisco for just under $70 million, the San Francisco Business Times reported, citing sources with knowledge of the transaction.

* Real estate development company Campanelli Inc. and Thorndike Development sold the 188-unit East Main Apartments in Norton, Mass., to Jones Street Investment Partners for around $53.7 million, according to a county deed, the Boston Business Journal reported.

* Real estate services company Balfour Beatty Communities LLC acquired the 468-unit, 26-building Riverchase Landing apartment community at 200 River Haven Circle in Hoover, Ala., in a joint venture with Apex One Investment Partners and Torchlight Investors, according to a company release. The Birmingham Business Journal reported a purchase price of $39.2 million, citing public records.

* Providence sold its interest in a 3,451-unit, 14-property multifamily portfolio, with properties across North and South Carolina, Alabama, Georgia and Kentucky, for an undisclosed amount. The company expects a 39% internal rate of return on the investment.

Additional coverage

Duke Realty buys 3.1 million square feet of assets in NJ

Stanford Hotels picks up Bellevue, Wash., site for $128M

Downtown Miami development site on the market for $125M

Cominar REIT closes C$1.14B sale of Canadian property portfolio

Slate Office REIT completes C$191M Canadian portfolio purchase