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Pure Multi-Family closes $40M asset buy; Strategic Storage to buy Calif. asset

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Pure Multi-Family closes $40M asset buy; Strategic Storage to buy Calif. asset

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

* Pure Multi-Family REIT LP wrapped up its US$40.0 million purchase of a 288-unit multifamily apartment community in Dallas, with the transaction representing a 5.3% stabilized going-in capitalization rate.

* A Strategic Storage Growth Trust Inc. unit entered into a conditional agreement to purchase a self-storage facility in Garden Grove, Calif., for around $18.4 million. The property will be a newly converted self-storage asset that is expected to contain roughly 94,500 net rentable square feet and 900 rental units. The company expects to close the deal in the first or second quarter.

* Four Corners Property Trust bought two McAlister's Deli properties in Texas for $4.1 million, representing a going-in cash cap rate of 6.75%. The assets are occupied under a new triple-net master lease with a 15-year term.

* Carter Validus Mission Critical REIT Inc. and Ascent CH2 LLC will deliver a newly built 16,000-square-foot expansion suite for an enterprise tenant in the Chicago Data Center in Northlake, Ill., which will add an additional 2.5 MW of critical power capacity. According to Carter Validus, the facility has roughly 64,000 square feet of empty space available for rent and build-out, and 7.5 MW of critical power expansion capacity.

* Empire State Realty Trust Inc. signed a long-term lease at 200 First Stamford Place in Stamford, Conn., with Partner Reinsurance Co. for a full-floor tenancy of 56,700 square feet.

Additional coverage

The 'Trump bump' hits New York's office market: On an earnings call, SL Green executives testified to an observable increase in tenant activity from financial services tenants post-election.

Dream Office REIT unloads 8-asset portfolio in Ontario for C$140M: The Kitchener-Waterloo portfolio spans almost 1.1 million square feet of gross leasable area.

Forest City sells Illinois office campus for $77M: The Illinois Science & Technology Park has approximately 533,000 square feet of existing office and lab space.

CBL acquires 7 Sears locations in $72.5M sale-leaseback deal: Sears will continue to operate the department stores under 10-year leases.

Preferred Apartment Communities unit sells Kan. multifamily asset: The property sold for $48.1 million, excluding transaction-related costs.