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2 apartments sell for $92M; Wis. industrial portfolio stake trades for $25M


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2 apartments sell for $92M; Wis. industrial portfolio stake trades for $25M

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

* Starlight U.S. Multi-Family (No. 5) Core Fund sold the 216-unit class-A Greenhaven Apartments community in north Dallas for about US$32.6 million, and agreed to acquire the 320-unit Alexander Village class-A apartment community at 9224 Graham Ridge Dr. in Charlotte, N.C., for roughly US$59.1 million.

* James Luterbach Construction Co., Inc. sold its 50% interest in six industrial buildings in New Berlin, Wis., to Zilber Property Group, which owns the remaining 50% stake, for $25.4 million, the Milwaukee Business Journal reported, citing state real estate records. The buildings span 430,000 square feet and are 100% occupied.

* Real estate developer Largo Investments acquired a one-story, 9,000-square-foot industrial building at 215 N. 10th St. in Brooklyn, N.Y., encompassing 50,000 buildable square feet, for $25 million from Northstar Equities LLC, with plans to build condominiums, The Real Deal reported, citing property records.

* Healthcare real estate investment trust Healthcare Trust of America Inc. purchased the 24,400-square-foot Duke Primary Care Midtown building on Sandy Forks Road in north Raleigh, N.C., for $8.4 million from Kimberly Development Group LLC, the Triangle Business Journal reported.

* Diversified REIT Hartman vREIT XXI, Inc. acquired the four-building, 96,660-square-foot Richardson Tech Center on North Plano Road in the Dallas-Fort Worth area in Texas for about $5.0 million.

* Office-focused REIT Corporate Office Properties Trust plans to redesign the public entrance of the 24-story West Pratt Street 250 building in Baltimore, the Baltimore Business Journal reported. The company is in talks with Starbucks Corp. to open a store on the first floor, the report added, citing Marco Greenberg, a Corporate Office executive.

* Nationwide Realty Investors Ltd. completed two new 60,000-square-foot class-A office buildings at the 250-acre Rivulon development in Gilbert, Ariz., and plans to build dual two-story, 100,000-square-foot buildings as well. The real estate development company signed Morgan Stanley Smith Barney Financing and Audi AG as tenants for the development, among others, the Phoenix Business Journal reported.

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