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Fla. apartment complex trades for $92M; Duke Realty sells Ga. property for $35M


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Fla. apartment complex trades for $92M; Duke Realty sells Ga. property for $35M

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

* TR Danburg Boca Holdings sold the 282-unit, 293,358-square-foot Allure Boca Raton apartment complex at 6700 Congress Ave. in Boca Raton, Fla., for roughly US$92.1 million to an affiliate of Institutional Multifamily Partners, the South Florida Business Journal reported.

* Industrial real estate investment trust Duke Realty Corp. sold the 800,000-square-foot GCP-Portside industrial property in Savannah, Ga., for about US$34.8 million to property management company GCP, the Birmingham Business Journal reported. The property is fully leased by Home Depot.

* Diversified REIT Agellan Commercial REIT agreed to sell its 118,500-square-foot, five-story, multitenant office building at 10130 Perimeter Parkway in Charlotte, N.C., for about US$22.7 million.

* Clark Enterprises Inc. is seeking buyers for its approximately 88%-leased, 16-story, 338,844-square-foot headquarters building at 7500 Old Georgetown Road in Bethesda, Md., which has an assessed value of about US$75.5 million, the Washington Business Journal reported.

* Developer Wood Partners LLC is planning a 328-unit apartment complex, dubbed Grande Lakes III, on about 15 acres on Taft Vineland Road in Orlando, Fla., the Orlando Business Journal reported, citing county records. The publication said a complex of that size could cost about US$54.1 million to build, according to industry standards.

* Restaurant-focused retail REIT Four Corners Property Trust acquired a Popeyes restaurant in a sale-leaseback deal with Cambridge Franchise Holdings for US$1.7 million.

* Real estate investment and management firm Capital Square 1031 acquired a 45,000-square-foot built-to-suit office building on 3.14 acres at 14701 Philips Highway in Jacksonville, Fla., that is fully leased to Dream Finders Homes LLC.

Additional coverage

Blackstone sells South Florida hotel for $171M

Rosemurgy JV buys Fla. land for $200M mixed-use project

Steadfast Income REIT acquires Ga. apartment complex for $103M

New York Life Real Estate Investors buys Phoenix office building for $100M

Parkway Properties, KKR buy Miami office building for $250M