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Fannie Mae places 3 properties on sale; Nexus REIT buying 3 industrial assets

Commercial real estate

* Fannie Mae has placed three buildings in Northern Virginia on the market that it will vacate in 2022 to move to Boston Properties Inc.'s Reston Gateway project in Reston, Va., the Washington Business Journal reported. The three buildings are being marketed by Cushman & Wakefield as a prospective single-tenant corporate campus.

The properties up for sale are the 379,000-square-foot 11600 American Dream Way office building and 13100 and 13150 Worldgate Drive.

* Nexus REIT signed conditional agreements to buy three industrial properties for about C$64 million and conditionally agreed to sell two noncore properties for approximately C$11.3 million.

* The board of trustees of the Public Health Trust of Miami-Dade County is slated to consider leasing 36,000 square feet at a 54,000-square-foot project planned by an affiliate of Healthcare Trust of America Inc., the South Florida Business Journal reported. The development is at the southeast corner of Southwest 152nd St. and Southwest 97th Ave. The proposed lease would run 10 years, with two five-year extension options.

* According to Cushman & Wakefield, New York City real estate acquisitions by Chinese investors dropped 54% year over year to $3.4 billion in 2017, Bloomberg News reported. The news outlet noted, citing Cushman & Wakefield, that Chinese investors are expected to invest in segments that are the most likely to receive government approval from back home, including logistics and student housing.

* Arker Cos. and Northeast Brooklyn Housing Development Corp. plan to redevelop the former Peninsula Hospital in Queens, N.Y., into a residential complex with 2,200 apartments, of which roughly 1,900 would be affordable, Curbed reported, citing Politico. The development would comprise 17 buildings and would have 270 units set aside for seniors.

* Clarion Partners bought the 281,000-square-foot Gateway Towne Center shopping center in Compton, Calif., for $86 million from Prism Realty, The Real Deal reported, citing property records. The 33-acre property at 101 Towne Center Drive was built by the seller in 2007.

The asset is anchored by Target, Best Buy and Home Depot.

* The New North Equities LLC development partnership filed plans for a roughly 18-acre mostly vacant site in North Miami Beach, Fla., The Real Deal reported. The master-planned New North Town Center project would have 1,650 apartments, 175,000 square feet of commercial space, 175 limited service hotel rooms, 150,000 square feet of office space and 120,000 square feet of school space.

* SiliconSage Builders is considering a mixed-use project spanning a 31.5-acre site on the north side of San Jose, Calif., that would include more than 1.5 million square feet of commercial space and 3,250 residential units, the Silicon Valley Business Journal reported. The developer has filed an enhanced preliminary review request for the site with the city. The scheme would also include a 350-room hotel, a theater and 4.5 acres of open space.

After the bell

* Brookfield Property Partners LP reached a deal to buy out all outstanding common shares it or its affiliates do not already own in regional mall landlord GGP Inc., confirming an earlier report.

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng rose 0.79% to 30,790.83, while the Nikkei 225 climbed 2.65% to 21,317.32.

In Europe, around midday, the FTSE 100 gained 1.93% to 7,021.46 and the Euronext 100 rose 1.33% to 1,004.44.

On the macro front

The Redbook, the S&P Corelogic Case-Shiller HPI, the consumer confidence report, the Richmond Fed Manufacturing Index and the State Street Investor Confidence Index are due out today.

Now featured on S&P Global Market Intelligence

Family offices becoming more aggressive players in real estate arena: Advisers to high-net-worth families described increasingly proactive real estate investment strategies in their client base, as attractively priced assets have become scarce and families' lists of beneficiaries have expanded.

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