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JBG SMITH to sell assets for $136M; Colo. apartments sell for $78M


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JBG SMITH to sell assets for $136M; Colo. apartments sell for $78M

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

*JBG SMITH Properties signed agreements subsequent to June 30 to sell assets totaling about $136 million.

* Oak Coast Properties and BMC Investments Co LLC paid $78 million to an affiliate of Lowe Enterprises Investors LLC for the 360-unit St. Moritz Apartments in Lakewood, Colo., the Denver Business Journal reported.

* Hennepin County, Minn., acquired the top floor of the North Minneapolis Regional Acceleration Center office building at 1256 Penn Ave. N. in Minneapolis, in addition to 420 of the 620 stalls in a parking garage, for $21.5 million from Thor Cos., the Minneapolis / St. Paul Business Journal reported.

* Dezer Development LLC purchased an 8.28-acre development site housing Nova Southeastern University campus at 1750 NE 167th St. in Miami Beach, Fla., for $20 million from the university, The Real Deal reported, citing property records.

The report added that the institution also entered into a five-year lease contract with the buyer, with a one-year extension option. The property comprises a four-story, 52,800-square-foot building; a three-story, 28,000-square-foot building; a five-story, 153,000-square-foot building; and a three-story parking garage.

* Americold Realty Trust sold a 5.6 million-cubic-foot facility in Thomasville, Ga., for $18.0 million and exited its 4.3 million-cubic-foot leased facility in Vernon, Calif., during the second quarter.

* SeD Intelligent Home Inc. completed the sale of 210 units at the Ballenger Run multifamily development in Frederick, Md., to Orchard Development Corp. for $5.3 million.

* CIM Group Inc. sold a 40-story, 397-unit building at 1001 S. State St. in Chicago to an investment arm of the Mormon church for an undisclosed amount, Crain's Chicago Business reported, citing sources.

* Omni New York reached a 10-plus-year deal for 32,534 square feet spanning the entire 21st floor of Vornado Realty Trust's 33-story, 1.3 million-square-foot 909 Third Ave., with asking rent between $70 and $80 per square foot, the Commercial Observer reported, citing a source with knowledge of the deal.

Additional coverage

Blackstone buys metro Phoenix apartments for $311M

Nelson Brothers buys Chicago Loop student housing complex for $74M

Canadian Apartment buys 5-story property in British Columbia for C$33M

Uniti Group agrees to buy fiber assets from CableSouth Media