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Illinois complex sells for $72M; Thor Equities buys NY hotel for $66M

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Illinois complex sells for $72M; Thor Equities buys NY hotel for $66M

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

* FPA Multifamily bought the 662-unit Apartments at Woodfield Crossing in Rolling Meadows, Ill., from Canyon Partners Real Estate for $72.0 million, Crain's Chicago Business reported, citing property records.

* Thor Equities acquired the 18-story, 114-key James New York hotel at 27 Grand St. in New York for $66.3 million from PGIM Real Estate, The Real Deal reported.

* Bruman Realty agreed to buy nearly 200,000 square feet of land comprising two sites at 236 and 240 Gold St., and an adjacent 27,200-square-foot parking lot in the Dumbo neighborhood of New York City for about $59.0 million, The Real Deal reported. Michael Zacharias is one of the sellers.

* The 267-unit Vistas at Jackson Creek multifamily property, built on over 14 acres in Monument, Colo., sold for approximately $57.8 million to a private investor. Marcus & Millichap Inc. brokered the deal on behalf of the buyer and arranged a roughly $48.1 million loan for the transaction.

* BRP Cos. will purchase the 90,000-square-foot Archer Towers development site at 163-05 and 163-25 Archer Ave. in the Jamaica neighborhood of New York City from developer Chris Jiashu Xu for approximately $55.0 million, The Real Deal reported, citing sources with knowledge of the matter.

* BRT Apartments Corp sold the Waverly Place Apartments multifamily property in Melbourne, Fla., for $22.3 million and, through a joint venture, acquired the 204-unit Magnolia Pointe at Madison multifamily property in Madison, Ala., for $18.4 million.

* The U.S. arm of Swedish real estate company Akelius Real Estate Management acquired two buildings with 34 units at 181 and 182 Prospect Park West in Brooklyn, N.Y., for $14.7 million, and seven buildings with 44 units at 409-421 14th St., also in Brooklyn, for about $20.8 million, The Real Deal reported. Deepak Raj and Neera Raj were the sellers for both properties

* Hubilu Venture Corp. agreed to purchase Elowen Investments LLC and its properties, which includes a student housing property at 1109 Exposition Blvd. in Los Angeles, for an undisclosed amount. The transaction is expected to close in the 2018 first quarter.

Additional coverage

Carter Validus Mission Critical REIT's Chicago data center trades for $315M

RLJ sells Boston hotel for $170M

Weinstein Properties buys 2 Texas multifamily assets for $100M

Hawaii to sell housing portfolio for $170M

Jiayuan International plans to buy NY residential complex