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Md. apartment trades for $50M; Regent Partners marketing Tenn. asset

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Md. apartment trades for $50M; Regent Partners marketing Tenn. asset

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

* Morgan Properties Trust and Core Real Estate Partners bought the 240-unit Orchard Meadows apartment community in Ellicott City, Md., from Azure Partners for $50 million, with plans to invest $2 million in renovations, the Baltimore Business Journal reported.

* Regent Partners LLC is looking to sell a 1.3-acre property between Broadway and 19th Ave. S. in Nashville, Tenn., zoned for 248 apartments and 196 hotel rooms, the Nashville Business Journal reported.

* Related California LLC started construction on a $458 million project comprising a 39-story, 550-unit residential tower and a 16-story, 466,000-square-foot office building, totaling 1.2 million square feet, at 1500 Mission St. in Van Ness in San Francisco, the San Francisco Business Times reported, adding that the City of San Francisco will purchase the office tower from Related. The project is expected to open in the first quarter of 2020.

* KETTLER Inc. will develop 228 single-family units and 100 multifamily units on a 66-acre parcel alongside Sunrise Valley Drive in Fairfax County, Va., along with a 40-acre park, the Washington Business Journal reported, citing a statement of justification filed with the county.

* Transcontinental Realty Investors Inc. and Abode Properties Inc. started construction on the four-story, 308-unit Tower Bay Lofts midrise apartment development in Lewisville, Texas.

* Amazon.com Inc. leased 385,000 square feet of Jay Paul Co. Inc.'s 1140 and 1160 Enterprise Way in the Moffett Towers I development in Sunnyvale, Calif., the Silicon Valley Business Journal reported, citing sources familiar with the deal.

* NYU Langone Medical Center LLC will expand its leased space at Vornado Realty Trust's 20-story 1 Park Ave. building in New York by 150,000 square feet, for a total of 630,000 square feet, Crain's New York Business reported. The asking rents for the space were in the mid $70s per square foot, the publication said.

Additional coverage

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SL Green to sell 'substantially all' of its stake in 724 5th Ave in NYC

HCP generates $332M proceeds from JV exit, trims Brookdale exposure

Sabra Health Care wraps up sale of 12 facilities for $134M

Brookfield Property Partners looking to sell $79M Va. office complex