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Ore. multifamily asset sells for $81M; EastGroup buys Ga. property for $29M

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Ore. multifamily asset sells for $81M; EastGroup buys Ga. property for $29M

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

* Security Properties and Cigna Investment Management bought the 348-unit Arbor Heights class A multifamily property in Tigard, Ore., for $81.0 million.

* EastGroup Properties Inc. paid $29.2 million to acquire Gwinnett Progress Center in Atlanta. The property includes four distribution buildings encompassing 392,000 square feet and an additional 10.5 acres for the development of an 85,000-square-foot building.

* A joint-venture affiliate of Blue Magma Residential LLC and NCP Enterprise Funds acquired three multifamily assets, totaling 604 units and spanning 565,282 square feet, for around $34.6 million. The affiliate paid $15.2 million for a 188-unit property in Covington, Ga.; $11.6 million for a 232-unit property in Robinsonville, Miss.; and $7.8 million for a 184-unit asset in Dothan, Ala.

* TA Realty LLC sold the 210,000-square-foot Union Tower office building in Lakewood, Colo., to Cress Capital for roughly $25.3 million in an off-market deal.

* Atlanta Property Group purchased Shadowood Office Park in Cumberland, Ga., from The Ardent Cos. for $22.3 million, the Atlanta Business Chronicle reported, citing property records. The 78%-leased project includes three four-story office buildings.

* Plaza Retail REIT sold a 50% nonmanaging stake in eight New Brunswick- and Nova Scotia-based retail properties to a syndicated investor group for C$17.3 million.

* Gatehouse Financial Group sold its 3.3 million-square-foot, 24-property industrial- and office-property portfolio, spread across 13 states, to a joint venture backed by a China-based alternative asset manager.

Additional coverage

El Segundo, Calif., office campus sells for $117M

Report: SL Green lends $170M for Normandy's NYC property buy, redevelopment

Morgan Properties picks up $278M Maryland-D.C. apartment portfolio

Sotherly Hotels to pay $81M for Arlington, Va., property

Kennedy-Wilson buys Ore. apartment community for $60M