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RioCan to sell portfolio for C$101M; Community Healthcare details $110M of deals


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RioCan to sell portfolio for C$101M; Community Healthcare details $110M of deals

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

* RioCan Real Estate Investment Trust disclosed a firm agreement to sell a portfolio of five properties in London, Ontario, for C$100.6 million. The company also said it sold five properties in Cambridge, Pembroke, Caledonia and Hamilton, Ontario, and in Levis, Quebec, to four separate buyers for C$64.6 million.

The company also agreed to sell four assets in Sault Ste. Marie, Whitby, Flamborough and Guelph, Ontario, to three separate buyers for C$80.0 million. RioCan also disclosed a firm agreement to sell a portfolio of four properties in Levis, Granby, Montreal and St. Antoine, Quebec, for about C$41.1 million.

* Community Healthcare Trust Inc. purchased a 17,000-square-foot, 100%-leased property for about $3.5 million. The company has one property under a definitive purchase agreement for an expected purchase price of about $3.2 million, with closing expected in the third quarter. It also has five properties under definitive purchase agreements, to be purchased after completion and occupancy, for about $103.0 million, with closings expected through the end of 2019.

* Chicago-based Waterton sold the 202-unit Axcess 15 apartment property at 1500 NE 15th Ave. in Portland, Ore., to MG Properties Group for $66 million.

* Investors Management Group Inc. purchased the 276-unit Pavillions at Ballast Point apartment property at 6306 S. MacDill Ave. in Tampa, Fla., for $40 million from Pavillion Management Co., the Tampa Bay Business Journal reported, noting that the property will be rebranded Solis at Ballast Point.

* KKR and Carter-Haston acquired the 260-unit Heyward luxury mid-rise apartment community in Charleston, S.C., and obtained a $31.5 million acquisition financing for the asset.

* MedEquities Realty Trust Inc. acquired the 60-bed Southern Indiana Rehabilitation Hospital in New Albany, Ind., for $23.4 million.

* Condor Hospitality Trust Inc. sold the Comfort Suites-Fort Wayne hotel in Fort Wayne, Ind., for $7.1 million during the second quarter.

* Sterling Real Estate Trust's operating partnership sold a retail property in Austin, Texas, for about $3.6 million and an industrial property in Redwood Falls, Minn., for about $5.2 million. The operating partnership also sold a retail property in Fargo, N.D., for $4.4 million and acquired the remaining 59.74% ownership interest in a 144-unit property which was previously held as tenant in common.

* Wheeler Real Estate Investment Trust Inc. sold an undeveloped land parcel at Laskin Road in Virginia Beach, Va., for a contract price of $2.9 million.

* Lennar Corp. will redevelop the former Omar Bakery property at East 16th St. and Bellefontaine Ave. in downtown Indianapolis into 34 townhomes.

Additional coverage

Douglaston Development secures $380M refinancing for NYC rental tower

Lenox Park in Atlanta to change hands for at least $225M

Paramount selling Washington, DC, office property for $220M

Slate Property, partner secure $125M refinancing for NYC residential project

Preylock pays $136M for Facebook-leased property in Redmond, Wash.