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Calif. complex trades for $97M; Shopoff Realty sells housing community for $73M

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Calif. complex trades for $97M; Shopoff Realty sells housing community for $73M

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

* Universal Properties sold the 13-building Warner Villa apartment complex, totaling 324 units, in the San Fernando Valley in California to SPI Holdings for $96.5 million, The Real Deal reported, citing records.

* Real estate firm Shopoff Realty Investments sold the 421-site Brookside Mobile Home Park manufactured housing community at 12700 Elliott Ave. in El Monte, Calif., for $72.5 million.

* Emerald Equity Group is acquiring a 70-unit rental building at 838 West End Ave. in New York from Rockwood Capital and Thor Equities for approximately $65 million, Crain's New York Business reported.

* Agricultural company CHS Inc. sold its 361,500-square-foot headquarters building in Inver Grove Heights, Minn., to a SunTrust Equity Funding affiliate for $55 million in a sale-leaseback transaction, the Minneapolis/St. Paul Business Journal reported, citing a certificate of real estate value.

* Ashford Hospitality Trust Inc. sold the SpringHill Suites hotel in Glen Allen, Va., subsequent to the end of the 2017 fourth quarter for $10.9 million.

* A Black Creek Industrial REIT IV Inc. unit agreed to acquire a 100% fee interest in the roughly 59,000-square-foot, fully leased Gothard Industrial Center in Southern California for approximately $10.1 million in a deal expected to close during the second quarter.

* LTC Properties Inc. completed the $1.4 million sale of a 36-unit closed assisted living community in Oregon during the 2017 fourth quarter, recording $70,000 in net loss. In the same period, the healthcare REIT donated an 85-bed skilled nursing center in Texas, having a net book value of $1.2 million, to a nonprofit healthcare provider organization.

Additional coverage

FCP Fund Manager sells Herndon, Va., office property for $226M

Invesque reaches US$142M deal to acquire medical office REIT

Uniti Group books 10.4% YOY increase in Q4'17 AFFO; signs $95M fiber asset deals

KBS Strategic Opportunity REIT buys Minneapolis office building for $88M

DiamondRock picks up boutique Phoenix hotel for $80M