This feature rounds up recent commercial property news and highlights larger deal coverage already published.
* The Gotham Organization agreed to pay $78 million in stages to buy part of a site hosting charitable organization Covenant House on the corner of 10th Ave. and W. 41st St. in New York, the New York Post reported, citing unnamed sources.
The sources said the real estate developer plans to construct a mixed-use residential building and a new facility for Covenant House, according to the report. The land sale is expected to close before the end of 2021.
* Origin Investments partnered with real estate asset manager Aegon USA Realty Advisors on the purchase of the 320-unit Advenir at Saddle Rock apartment complex at 22959 E. Smoky Hill Rd. in Aurora, Colo., from Advenir Inc. for roughly $72.2 million, the Denver Business Journal reported.
* Certain affiliates of SmartStop Asset Management LLC acquired the 400-unit, 760-bed, fully occupied Aspyre at Assembly Station student housing community near the University of South Carolina for $64.5 million.
* Unico Properties Inc. bought the six-story, 124,000-square-foot 38 Davis mixed-use building at the corner of Northwest Davis Street and Northwest Naito Parkway in Portland, Ore., from Gerding Edlen and Ankrom Moisan Architects for about $54.3 million, the Portland Business Journal reported.
* A Starwood Capital Group affiliate sold the 230,688-square-foot, 96%-leased Sawgrass Pointe I office building, on a 17-acre site at 1000 Sawgrass Corporate Parkway in Sunrise, Fla., for $51.1 million to True North, the South Florida Business Journal reported.
* A Security Properties and Reinsurance Group of America Inc. joint venture purchased the 220-unit Bluffs at Castle Rock apartment complex for $50 million from an unnamed seller, the Denver Business Journal reported.
* Blackstone Group LP purchased the three-building Commerce Business Center at 5811-5833 E. 61st St. in Commerce, Calif., from Magellan Group for $42 million, The Real Deal reported. The 12.5-acre site includes a 200,400-square-foot distribution facility, along with two other buildings encompassing 49,200 square feet each, the publication noted, citing CoStar analytics.
* MedEquities Realty Trust Inc secured an option to purchase a 42-bed, 57,275-square-foot inpatient rehabilitation facility, operated by Cobalt Rehabilitation Hospitals, in Clarksville, Ind., for about $26.0 million when constructed, pursuant to a 20-year triple-net master lease. The company provided a mezzanine construction loan of $5.4 million to Hicks Ventures Ltd. to partially fund the construction.
* Strategic Storage Growth Trust Inc. purchased an 870-unit, two-story self-storage facility totaling 84,000 square feet on 3 acres at the intersection of Pines Boulevard and Southwest 186th Ave. in the Miami suburb of Pembroke Pines, Fla. Citing property records, The Real Deal reported that the self-storage real estate investment trust paid $15.7 million for the property.
Additional coverage
Granite REIT closes C$400M 10-asset portfolio sale, obtains C$500M revolver
Invesque closes acquisition of $425M real estate portfolio
NorthWest Healthcare in C$314M deals for Germany, Australia, New Zealand assets
DCT Industrial sells 10 buildings for $129M post Q3'17
Report: ACCO Engineered Systems buys Pasadena, Calif., building for $112M
