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2 buyers spend $1.79B on Wash. offices; Charlotte, NC, tower to sell for $675M

Editor's note: The Daily Dose, Real Estate edition will not be published Dec. 25. The next edition will be published Dec. 26.

Commercial real estate

* Private equity firm KKR & Co. Inc. paid more than $1.2 billion to acquire the three-building, 915,000-square-foot Summit campus in Bellevue, Wash., and the 44-story, 516,000-square-foot F5 Tower in Seattle, the Puget Sound Business Journal reported, citing a King County deed.

The portion of F5 Tower that includes a vacant 189-room hotel was not part of the deal. That portion could sell to South Korea-based luxury hotel chain Lotte, the publication noted.

Atlanta-based Invesco purchased the two-building Bravern Office Commons in Bellevue, which totals 750,000 square feet, from Principal Real Estate Investors LLC for just over $585 million, the report added.

* Duke Energy Corp. is selling its under-construction Charlotte Metro Tower in Charlotte, N.C., for as much as $675 million to Maryland-based CGA Capital and Childress Klein Properties Inc. in a sale-and-leaseback deal, the Charlotte Business Journal reported. The partners will acquire the 40-story, LEED Gold-certified office tower at 525 S. Tryon St. once construction completes in 2022. The tower will include 1 million square feet of office and retail space and a 1,100-space parking garage.

* Swedish developer Skanska AB's Skanska USA Commercial Development Inc. sold its 234,000-square-foot class A office building called 99M in Washington, D.C., to an affiliate of Polinger Development Co. for $163 million, the Washington Business Journal reported. The 11-story office building at 99 M St. SE is 87% leased.

* Covenant Capital Group LLC affiliate West Palm Beach Multifamily Partners sold The Vue at 1400 apartment complex comprising 316 apartments at 1400 Village Blvd. in West Palm Beach, Fla., for about $55.1 million to Angelo Gordon & Co. LP affiliate AGM Vue Property Owner, the South Florida Business Journal reported.

* A Kimco Realty Corp. affiliate sold about 8.7 acres at the northwest corner of Bryan Road and Radiant Drive in Dania Beach, Fla., to Spirit Airlines Inc. for $32.5 million, the South Florida Business Journal reported. The airline plans to develop its future headquarters on the site with a project that is expected to cost about $250 million, and is slated to open in mid-2022, the report added.

* An affiliate of Dalfen Industrial LLC bought roughly 243 acres southeast of Lee Vista Boulevard and State Road 417 in n Orange County, Fla., to build an estimated $182 million, 2.8 million-square-foot bulk industrial development, the Orlando Business Journal reported.

* Canada's Artis Real Estate Investment Trust sold the 164,000-square-foot Oakdale Village Shopping Center in suburban St. Paul, Minn., for $25.3 million to Atlanta-based RCG Ventures, the Minneapolis / St. Paul Business Journal reported, citing a certificate. The property is leased to Best Buy Co. Inc., Home Goods and Guitar Center.

After the bell

* The respective shareholders of Rich Uncles Real Estate Investment Trust I and RW Holdings NNN REIT Inc. approved the companies' planned merger at their separate Dec. 17 meetings.

The day ahead

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

In Asia, the Hang Seng decreased 0.15% to 27,864.21, and the Nikkei 225 was up 0.04% to 23,830.58.

In Europe, around midday, the FTSE 100 was up 0.09% to 7,630.15, and the Euronext 100 climbed 0.13% to 1,154.45.

On the macro front

The Redbook and Richmond Fed Manufacturing Index reports are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

Now featured on S&P Global Market Intelligence

Data Dispatch: US REIT capital offering activity picks back up in November: Chart Watch: The newly raised capital brings the year-to-date total to $95.33 billion as of November-end, much higher than the $39.33 billion raised during the same time period the year prior.

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