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Tanger breaks ground on Texas outlet center; WPT Industrial targets 2 US assets

This feature rounds up recent property news from covered companies and highlights larger deal coverage already published.

* Tanger Factory Outlet Centers Inc. broke ground on its new outlet center in Texas, called Tanger Outlets in Fort Worth, which will offer about 350,000 square feet of retail space and will house more than 80 retailers. The groundbreaking follows Tanger's closing of the purchase of the development site, and the company hopes to complete construction in time for the holiday season in 2017.

* WPT Industrial Real Estate Investment Trust intends to buy a pair of properties containing class A industrial buildings in the metropolitan areas of Minneapolis-St. Paul, Minn., and Columbus, Ohio, which are about 86% and 100% occupied, respectively. The company is paying roughly US$60.1 million, excluding closing and transaction costs, for the properties, and it expects the deal to close during the fourth quarter.

* DCT Industrial Trust Inc. purchased a 301,000-square-foot building in the Northwest submarket of Cincinnati for an undisclosed sum in an off-market deal. The property was 60% occupied upon acquisition, with the vacant portion being marketed for lease.

* Griffin-American Healthcare REIT IV agreed to pay $21.0 million, plus closing costs, to acquire HSRE-Mint Hill LLC's leasehold interest in a land parcel containing a roughly 58,000-square-foot medical office building in Mint Hill, N.C. The Mint Hill MOB is fully leased to two tenants, and the company expects to close on the transaction during the fourth quarter.

* Lanesborough Real Estate Investment Trust offloaded the 115-suite Elgin Lodge retirement residence in Port Elgin, Ontario, in a deal completed Oct. 1. The C$14.5 million sale generated about C$4.3 million in net cash proceeds for the company.

Additional coverage

National Storage Affiliates JV closes $630M iStorage portfolio buy: The company also finalized its acquisition of the iStorage property management platform in a separate transaction.

Lightstone Value Plus REIT signs contribution deals for NYC, Fla. projects: An agreement was signed with a subsidiary of the REIT's sponsor for the Florida project, while a previous agreement with a subsidiary of the New York project's sponsor was amended to increase aggregate contributions.