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DC apartment building sells for $43M; unfinished Fla. hotel could trade for $39M


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DC apartment building sells for $43M; unfinished Fla. hotel could trade for $39M

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

* A joint venture between Urban Investment Partners and what is said to be an affiliate of Pacolet Milliken Enterprises Inc. acquired the 100-unit apartment building covering 117,134 square feet at 3333 Wisconsin Ave. NW in Washington, D.C., for $42.5 million, the Washington Business Journal reported.

* An affiliate of Magna Hospitality Group is close to acquiring the unfinished 136-room Las Olas Ocean Resort hotel project at 550 Seabreeze Blvd. in Fort Lauderdale, Fla., for $39.1 million, The Real Deal reported.

* TA Realty sold the recently overhauled 146,000-square-foot industrial site at 9140 Lurline Ave. in Chatsworth, Calif., for $28.5 million, The Real Deal reported.

* Karney Properties divested the four industrial properties spanning 120,331 square feet at 2216-2336 Garfield Ave. in Commerce, Calif., on an individual basis to various warehousing companies for about $20 million, The Real Deal reported, citing Cushman & Wakefield, which brokered the sales.

* Cole Real Estate Income Strategy (Daily NAV) Inc. acquired a property for $15.5 million and sold another for $3.1 million after the end of the second quarter.

* A Lennar Corp. affiliate sold about 23 acres of vacant land at 3090 Lychee St. in Palm Beach Gardens, Fla., that formerly housed the Hilltop Gardens Mobile Home Park to Gardens Business Center Palm Beach LLC for $6.8 million, The Real Deal reported.

* Global Healthcare REIT Inc. terminated its plans to acquire the Woodlands Health & Rehab Center skilled nursing facility in Midway, Ga., effective Aug. 3.

* Agellan Commercial REIT paid about US$5.3 million for a 58,000-square-foot, 92%-occupied multitenant industrial building in Laurel, Md., in May.

* A joint venture between Duke Realty Corp. and Browning is starting the construction of a 495,888-square-foot warehouse in the AllPoints Midwest industrial development in Plainfield, Ind., and a 149,072-square-foot industrial facility in the AllPoints at Anson industrial project in Whitestown, Ind., with completion expected during the first quarter of 2019.

Additional coverage

Report: Midtown Manhattan, NY, building could sell for $1.3B

Report: Boston Properties selling Washington, DC, office building for $140M

Report: SL Green signs $100M deal to secure Carlyle as tenant in $3B NYC tower

Report: Columbia Property Trust could acquire stake in NYC office project

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