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Steadfast Income REIT buys assets for $136M in Q2; Atlanta campus sells for $73M


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Steadfast Income REIT buys assets for $136M in Q2; Atlanta campus sells for $73M

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

* Steadfast Income REIT Inc. purchased two multifamily properties comprising 744 apartment homes for a total of US$135.5 million during the second quarter.

* TSP TownPark LLC sold the 99%-leased, 350,000-square-foot TownPark Commons class A office campus, comprising four four-story buildings at 125 TownPark Drive, 175 TownPark Drive, 225 TownPark Drive and 500 TownPark Lane in the Kennesaw submarket of northwest Atlanta, to Adventus Opportunity Fund for about US$73.3 million.

* Lalezarian Properties LLC paid US$25 million to Huguel Corp. for a five-story, 30,600-square-foot apartment building with 60 rental units at 222 E. 56th St. in New York, The Real Deal reported.

* Partners Real Estate Investment Trust will sell Mariner Square Shopping Centre in Campbell River, British Columbia, for net proceeds of about C$13 million, as part of its planned sale of 11 of its properties in Western Canada.

* STELLAR Management Inc. leased 106,000 square feet of its One Soho Square property in New York, covering the 12th through 15th floors, for an undisclosed tenure, with rent at over US$100 per square foot, the Commercial Observer reported, citing a source with knowledge of the deal.

Additional coverage

Beacon Capital acquires 2 Seattle office buildings for $435M

Akelius buys NYC property for US$72M