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Real Estate News & Analysis: May Edition

DDR sheds Ohio shopping center for $13M; Condor Hospitality sells Ky. hotel

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

* DDR Corp. sold Barrington Town Center in Aurora, Ohio, to private-equity firm Headwater Capital for $13.1 million, The Plain Dealer of Cleveland reported, citing property records.

* Condor Hospitality Trust Inc. sold the 61-room Comfort Inn hotel in Harlan, Ky., for $1.9 million. CEO Bill Blackham said in a release that the company expects to sell four additional of the remaining 10 legacy hotel assets in its portfolio in the first half.

* Reven Housing REIT Inc. bought 20 properties in the Memphis, Tenn., metropolitan area for roughly $1.6 million. The company said it also plans to acquire six additional homes in Memphis for $486,000.

* Lennar Corp.'s wholly owned unit LMC topped out The 23, a mixed-use development in Victory Park, Dallas. The facility will offer 23 residential floors, 285 apartment homes, 20,000 square feet of ground-floor retail and a 700-seat movie theater, among other amenities.

* Vornado Realty Trust leased 60,000 square feet at 330 Madison Ave. in New York to commodities producer and trader Glencore, which is relocating from 3 Stamford Plaza, Crain's New York Business reported.

Additional Coverage

Brookfield funds buy 45-asset portfolio for $854.5M: TA Realty sold the portfolio on behalf of The Realty Associates Fund IX LP.

Report: Ivanhoe Cambridge close to $650M deal for Manhattan skyscraper: The 32-story building is owned by a joint venture of MetLife and Beacon Capital Partners.

Washington REIT completes $135M purchase of Watergate 600: The company will refine and complete ongoing renovations at the property, it said in a release.

Federal Realty snaps up Chicago shopping center for $107M: The property is anchored by Jewel-Osco, Marshalls and Old Navy.

Quality Care to renegotiate tenant's master lease, accept rent deferral: The tenant, an HCR ManorCare unit, agreed to pay part of its rent and to provide recent financial disclosures while it renegotiates its master lease with Quality Care Properties.