trending Market Intelligence /marketintelligence/en/news-insights/trending/refrighj39uum9x98kah9g2 content esgSubNav
In This List

Dream Office REIT details C$105M of deals; NYC facility on the market for $42M


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Dream Office REIT details C$105M of deals; NYC facility on the market for $42M

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

* Dream Office REIT divested assets in Alberta and Saskatchewan for C$51.8 million in the first quarter and sold a co-owned property in Calgary for C$53.5 million subsequent to quarter-end.

* Meridian Investment Sales is selling the three-story, 151,000-square-foot 58-30 Grand Avenue industrial and logistics facility in the Maspeth neighborhood of Queens in New York for $42 million, The Real Deal reported.

* Firm Capital American Realty Partners Corp. acquired a seven-property, 189-unit multifamily residential portfolio, with five retail units, in Irvington, N.J., for about US$17.8 million, and bought another 12-building, 235-unit multifamily residential property in Houston for about US$15.3 million on March 1. The company also sold 21 single-family homes for about C$1.9 million in the first quarter, and is under contract to sell 17 more for about C$4.0 million, with the deals expected to close in the second quarter.

* Northview Apartment REIT acquired Woodgrove Pines, a 137-unit mixed-use property in Nanaimo, British Columbia, with about 6,000 square feet of commercial space, for C$22.0 million, and a 4.3-acre land parcel in Kitchener, Ontario, for C$5.4 million in the first quarter. The company also closed the acquisition of a 6.9-acre land parcel for C$6.3 million in Nanaimo after quarter-end.

* A Preferred Apartment Communities Inc. unit purchased the 427-unit, 808-bed The Tradition student housing community in College Station, Texas, through a nonrecourse first mortgage bridge loan of about $30.0 million.

* Chartwell Retirement Residences on April 30 agreed to acquire a 104-suite independent supportive living residence in Edmonton, Alberta, for about C$20.0 million, with the deal expected to close in the second quarter.

* Artis Real Estate Investment Trust sold an industrial property at 1810 Dublin Ave. in Winnipeg, Manitoba, for about C$1.9 million during the first quarter. The company also paid US$8.8 million for 52.5 acres of land for an approximately 1 million-square-foot industrial development in Houston that is already 100% leased. Construction on phase one of the development, expected to span about 520,000 square feet, will start in the second quarter.

* Forest City Realty Trust Inc. broke ground on a three-phase, 28-acre waterfront development on Pier 70 in San Francisco. The development involves construction of 1,100 to 2,150 residential units; seven acres of new parks and open space; and 900,000 to 1.75 million square feet of commercial space, with up to 360,000 square feet of local retail services and light industrial space, among other plans.

Additional coverage

Granite REIT agreed to buy 4-facility portfolio in Ohio for US$232.5M

Howard Hughes teams up with Texan city for 270-acre project

Uniti Group closes 1st tranche of U.S. TelePacific fiber asset deal