Commercial real estate
* WeWork Cos. Inc. opened a nearly 76,500-square-foot location on the top two floors of Martin Selig Real Estate Inc.'s 1448 NW Market St. building in the Ballard neighborhood of Seattle, the Puget Sound Business Journal reported. The location will hold 1,500 desks. The We Co. unit also plans to open offices in Capitol Hill and the University District in January 2020, the publication added.
* Trammell Crow Residential Co. sold the 322-unit luxury apartment building at the corner of W. 38th Ave. and Lowell Boulevard in the West Highland neighborhood of Denver for about $114.8 million, the Denver Business Journal reported, citing property records. The residential part of the building was sold to a limited liability company registered to the same address as MetLife Investment Management's headquarters in Whippany, N.J., while the retail portion remains with Sonrisa Holding LLC.
* Black Creek Group LLC purchased two fully leased warehouse buildings in the Puget Sound region of Washington from a partnership of developer Panattoni Development Co. Inc. and LaSalle Investment Management Inc. for a total of $87.6 million, the Puget Sound Business Journal reported, citing Colliers International. The buildings are the 265,000-square-foot North Auburn Logistics property at 6607 S. 287th St. and the 159,000-square-foot Reserve @ Woodinville at 15902 Woodinville-Redmond Road.
* French bank Natixis filed a lawsuit in Manhattan State Supreme Court claiming Maefield Development Corp. is in default of a $650 million portion of a $2 billion financing package it led for the company's project at 20 Times Square, The Real Deal reported. Representatives for both Maefield and Natixis could not be immediately reached by the publication for comment.
* Brooklyn, N.Y.-based All Year Management is considering the sale of its William Vale Complex and Denizen Bushwick developments in New York for early payment of its series C and E bonds, The Real Deal reported. The 468-unit Denizen Bushwick rental complex was assessed at $315 million, while the William Vale Complex had a value of $250 million as per All Year's latest earnings report, the publication noted.
The series C bonds secured by William Vale were set to mature in February 2024, while the series E bonds secured by Denizen Bushwick were set to mature in July 2024.
* Plymouth Industrial REIT Inc. purchased 10 industrial buildings totaling 2.1 million square feet in Indianapolis for $62 million. The deal includes the nine-building Shadeland Commerce Center, totaling approximately 1.7 million square feet, and is 95% leased, and a fully leased 353,000-square-foot building at 7901 West 21st St.
* Fort Partners secured a $210 million construction loan for its under-construction 22-story Four Seasons Hotel and Private Residences at 525 North Fort Lauderdale Beach Blvd. in Fort Lauderdale, Fla., The Real Deal reported. Madison Realty Capital provided the full financing.
* Atlanta developer Insignia LLC is planning to develop the $116 million Lotus Grove project on a 13-acre site in Doraville, Ga., which will include 350 rental apartments, a 97-room Hilton hotel, a 22,000-square-foot food hall, and 73,000 square feet of retail and office space, the Atlanta Business Chronicle reported.
* The Dilweg Cos. LLC purchased the seven-building Northridge Commons office campus in Atlanta's Central Perimeter from Stockbridge Capital Group for $51.5 million, the Atlanta Business Chronicle reported, citing Fulton County property records. The acquisition was financed via a $56 million loan from Ares Commercial Real Estate, according to the report.
* PBM Properties LLC, an affiliate of J.W. Marriott Family Enterprises, sold the 353-room West Palm Beach Marriott at 1001 Okeechobee Blvd. in West Palm Beach, Fla., to LR West Palm Beach LLC for $50 million, or $141,643 per room, the South Florida Business Journal reported. The buyer is a joint venture of Willow Lake Holdings and London + Regional Properties.
* Amgen Inc. is moving into BioMed Realty Trust Inc.'s nine-story, 240,000-square-foot building in the Gateway of Pacific project in South San Francisco in early 2022, the San Francisco Business Times reported. Amgen will be the second major biotech company to occupy space at the over 1.3 million-square-foot Gateway of Pacific development. AbbVie Inc. signed a lease in 2018 for most of the 509,000-square-foot first phase of the project, the report added.
* An affiliate of developer Pyramid Management Group, Inc. tapped Jones Lang LaSalle Inc. to market for sale the roughly 93%-occupied, 930,662-square-foot Manassas Mall at 8300 Studley Road in Prince William County, Va., with an assessed value of about $31.3 million, the Washington Business Journal reported, citing county land records. The assessed value decreased from about $46.3 million in 2017, according to the report.
* Greystar Real Estate Partners LLC bought The Griffith, a six-story apartment building in Glendale, Calif., from AFL-CIO Investment Trust Corp. and PNC Realty Investors Inc. for $119 million, the San Fernando Valley Business Journal reported, citing records.
* Allied Properties REIT agreed to acquire a class I office complex in Montreal for C$276 million.
* Invitation Homes Inc. sold 708 homes in Nashville, Tenn., to Canadian residential real estate company Tricon Capital Group Inc. for $210 million in gross proceeds.
* KBS Real Estate Investment Trust II Inc. will ask its shareholders to vote on its liquidation and dissolution plan at the March 5, 2020, annual stockholder meeting.
After the bell
* Ryman Hospitality Properties, Inc. agreed to purchase Stratus Properties Inc.'s Block 21 mixed-use real estate development and entertainment business in downtown Austin, Texas, for $275 million.
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng was down 0.22% to 26,436.62, and the Nikkei 225 decreased 0.09% to 23,410.19.
In Europe, around midday, the FTSE 100 decreased 0.93% to 7,166.27, and the Euronext 100 decreased 1.04% to 1,111.47.
On the macro front
The NFIB small business optimism index, the productivity and costs report, and Redbook are due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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