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Carter Validus Mission Critical REIT II buys Mass. asset; Lennar nabs NC land


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Carter Validus Mission Critical REIT II buys Mass. asset; Lennar nabs NC land

This feature rounds up recent property news from covered companies and highlights larger deal coverage already published.

* Carter Validus Mission Critical REIT II bought the 153,000-square-foot Andover Data Center II in Andover, Mass., for $37 million. The two-story data center is fully leased to two tenants, including Charter Communications Inc. unit Navisite LLC.

* A Lennar Corp. affiliate paid $23 million to acquire a block of seven land parcels in uptown Charlotte, N.C., from a Levine Properties affiliate, the Charlotte Business Journal reported, citing Mecklenburg County real estate records. According to the report, Lennar plans to develop a mixed-use project at the property in phases, with the first phase likely to commence in the fourth quarter.

* Slate Retail REIT struck a deal to purchase the 11 Galleria property in Greenville, N.C., for approximately US$13.7 million. The 78%-occupied property is anchored by The Fresh Market. The company expects to close the transaction in the first quarter.

* Kimco Realty Corp. signed four retail leases aggregating 94,100 square feet at Suburban Square in Ardmore, Pa., to kick off phase II of the roughly $70 million, multiyear redevelopment of the center. Notably, Life Time — The Healthy Way of Life Co. will lease 78,636 square feet in the former Macy's space for an upscale "Diamond-level" club.

* Sterling Real Estate Trust d/b/a Sterling Multifamily said its operating partnership acquired Carr Apartments and West Oak Apartments in Fargo, N.D., for $828,000 and $777,000, respectively, in two separate transactions.

Additional coverage

Hyatt acquires wellness resort, spa company Miraval Group: Under the terms of the deal, Hyatt agreed to an initial investment of $215 million for the Miraval brand and the resorts in Tucson, Ariz., and Austin, Texas.

Report: New York REIT's stake in 1 Worldwide Plaza on the block: Insiders said the entire 1.8 million-square-foot tower could sell for $1.8 billion, The Real Deal reported.

Acadia Realty closes on $395M of transactions in Q4'16: During the period, the company completed its $141 million purchase of an urban retail property in San Francisco.

TIER REIT sells $114M stake in Philly property, off-loads $52.5M Calif. asset: The Philadelphia Inquirer reported that the company is also looking to sell its last property in Philadelphia in a move to exit the city.

Steadfast Apartment REIT III adds 4th apartment property: The property is in the northeast Atlanta submarket of Lawrenceville.