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Wash. buildings trade for $45M; CAPREIT sells NC apartments for $37M

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Wash. buildings trade for $45M; CAPREIT sells NC apartments for $37M

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

* San Francisco-based Swift Real Estate Partners paid $45.4 million to purchase the 145,575-square-foot A and B buildings of the Oakhurst Center at 14335 and 14475 NE 24th St., in Bellevue, Wash., from global financial services company Barings, the Puget Sound Business Journal reported, citing a deed recorded with King County.

* Asset manager Phoenix Realty Group LLC paid $37.2 million to buy the 29-building Beech Lake Apartments, sitting on 37 acres in South Durham, N.C., from Canadian Apartment Properties Real Estate Investment Trust, the Triangle Business Journal reported.

* Multifamily REIT BSR Real Estate Investment Trust wrapped up the purchase of the 17-building, 200-unit Brandon Place garden-style residential community in Oklahoma City for US$23.4 million.

* Industrial REIT Rexford Industrial Realty Inc. purchased a 91,516-square-foot single-tenant industrial property on 3.77 acres at 3100 Fujita St. in Torrance, Calif., for $14 million.

* Co-working company WeWork Cos. signed a nearly 30,000-square-foot lease for three floors at The Olnick Organization Inc.'s 11-story 130 5th Ave. building in New York City, The Real Deal reported, citing an unidentified source.

* Shopping center REIT Kimco Realty Corp.'s $108 million, roughly 620,000-square-foot Mill Station development in Baltimore County, Md., is now 75% preleased after the addition of Lowe's Home Improvement, Marshalls, TJX's new HomeSense concept, Burlington and Five Below as tenants.

* TitanStar Properties Inc. and Juliet Companies LLC closed on the US$1.65 million sale of the developed land on 0.55 acres at the Deer Springs Crossing commercial retail center in Las Vegas.

Additional coverage

$500M mixed-use development in Houston to break ground in 2019