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Kimco Realty exits Kansas, Rhode Island; Calif. apartments sell for $34M

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

* Kimco Realty Corp. sold 16 shopping centers in the 2017 fourth quarter for $234.2 million, with the company's share being $174.0 million. The company said the $40.0 million sale of Westgate Market and Tall Grass Center in Wichita, Kan., and Marshalls Plaza in Cranston, R.I., marked its exit from those two markets. The dispositions also included Richland Marketplace in Quakertown, Pa., for $47.3 million.

* Champion Real Estate paid $33.6 million to acquire the 62-unit Windsor Real and the 42-unit Princess Louise apartment assets in Glendale, Calif., in an off-market deal, The Real Deal reported.

* SMM Sunny Holding LLC purchased an 80,000-square-foot empty lot at 9 Indian Creek Dr. on Indian Creek Island, Fla., from Vladimir Krasavtsev for $27.5 million, The Real Deal reported.

* Invesque Inc. purchased a 70-bed post-acute transitional care facility in Round Rock, Texas, from MainStreet Property Group LLC for about US$22.8 million.

* Terreno Realty Corp. acquired a fully leased, roughly 100,000-square-foot industrial building on 4.7 acres at 19801 S. Vermont Ave. in Torrance, Calif., for about $17.5 million.

* Plaza Retail REIT increased its interest in the 205,148-square-foot Northwest Centre and the 65,842-square-foot Shediac West Plaza in the Moncton area of New Brunswick to 50% from 10%, with its incremental gross investment reaching about C$17.0 million. An unnamed Canadian pension fund purchased the remaining 50% interests in both properties on a co-ownership basis.

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