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Bell Partners JV pays $63M for Colo. asset; Transcontinental buys NC facility

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

* Bell Partners Inc. and German investment management company Hansainvest purchased the 250-unit Escape at Ken-Caryl community in the Denver submarket of Littleton, Colo., for $63.4 million, Multi-Housing News reported. According to the report, the 15-building community was renamed Bell Ken-Caryl and will be managed by Bell Partners.

* Transcontinental Realty Investors Inc., Southern Properties Capital and Abode Properties acquired the 201-unit Lofts at Reynolds Village facility in Asheville, N.C., for an undisclosed sum.

* The development of Belz Enterprises' mixed-use project in Memphis, Tenn., could commence soon, following the filing of a $24 million building permit, the Memphis Business Journal reported. Developers pegged the project cost at roughly $33.5 million, and the project is set to be constructed at the southwest corner of Union Ave. and S. McLean Blvd., the report added.

* Israeli plastics manufacturer Starplast will occupy 181,540 square feet at Duke Realty Corp.'s Point North 8111 property in Humble, Texas, the Houston Business Journal reported, citing JLL.

* American Real Estate Partners is mulling options for the office building at 810 1st St. NE in Washington, D.C., in the wake of the planned relocation of its tenants, the Washington Business Journal reported. The roughly 191,000-square-foot Union Center Plaza I property is valued at about $80 million, according to D.C. land records.

* Sears Canada Inc. agreed to an early termination of its lease to empty its 128,000-square-foot store at Crombie Real Estate Investment Trust's Avalon Mall in St. John's, Newfoundland and Labrador, by Feb. 28, 2018, in exchange for a C$5 million lease surrender fee.

Additional coverage

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