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NC apartments sell for $35M; Calif. office asset fetches $32M


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Essential IR Insights Newsletter - February 2023

NC apartments sell for $35M; Calif. office asset fetches $32M

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

* Duck Pond Realty Management purchased the 356-unit Deer Harbor Apartments in Garner, N.C., for US$35.2 million, the Triangle Business Journal reported.

* EverWest Real Estate Investors and Frontal Trust bought the 98,900-square-foot, 74%-leased 999 Town & Country office property at 999 W. Town and Country Rd. in Orange, Calif., from Westcore Properties Inc. for about US$32 million, Real Estate News Television reported.

* EB Arrow bought the 290,000-square-foot, 44%-occupied University Place I and II shopping centers, sitting on 30 acres in University City in Charlotte, N.C., for about US$18.2 million, with plans for redevelopment, the Charlotte Business Journal reported, citing Mecklenburg County property records.

* Partners Real Estate Investment Trust agreed to sell an unnamed retail property in Cornwall, Ontario, for C$8.4 million, with the closing expected by Dec. 10.

Additional coverage

Hines Global REIT unit to sell Los Angeles office complex for $335M

Pollack Shores buys Ga. apartment project for over $172M

Waterton Associates pays $72M to buy Colo. apartment complex

Blackstone sells Malvern, Pa., office complex for $70M

Tribune Media closes sale of NY property