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Crombie REIT closes asset sales; Automotive Properties to buy Montreal asset

This feature rounds up recent property news from covered companies and highlights larger deal coverage already published.

* Crombie Real Estate Investment Trust closed on the sale of four properties to Pro Real Estate Investment Trust for roughly C$21.4 million. The properties are in Nova Scotia and Prince Edward Island. Separately, the company wrapped up the sale of Carleton Place Mews in Carleton Place, Ontario, to a third party for C$10.8 million.

* Automotive Properties REIT agreed to acquire a Mercedes-Benz automotive dealership asset in Montreal for roughly C$20.3 million. The 60,850-square-foot facility is located on 3.7 acres at 4525 Boulevard Saint-Jean, and has a 17-year triple-net lease. The purchase will be funded through draws on Automotive Properties' existing credit facilities.

* Mainstreet Health Investments wrapped up its acquisition of three memory care communities in Arkansas and Texas for US$44.3 million. The communities comprise 171 total units and are leased to Memory Care America LLC on 15-year absolute-net leases.

* UMH Properties Inc. closed its purchase of an Ohio community for about $4.3 million. The community contains 124 home sites on roughly 121 acres, with an occupancy rate of about 82%. This is the company's third acquisition in a five-community Ohio portfolio worth around $17 million in total.

Additional coverage

Boyd completes $230M purchase of Cannery Casino Las Vegas assets: The deal was completed after the company received all required regulatory approvals.

Bluerock Residential picks up Texas multifamily property for $49M: The company acquired the property via a joint venture with an F&B Capital affiliate.

TIER REIT scoops up 2 Texas office buildings for $150M: The acquisition adds to the company's footprint at The Domain in Austin, Texas, the Austin Business Journal reported, citing Real Capital Analytics.

Kennedy-Wilson teams up with Takenaka to buy Calif. bank branch, office tower: The joint venture partners paid $135 million for the property.

AdCare to purchase Tenn.-based nursing facility: AdCare Health Systems plans to purchase a Tennessee-based skilled nursing facility for about $9 million.

First Capital to sell ownership interests in 2 properties to Presidential Realty: The company agreed to contribute its ownership interests in two properties in exchange for 37,281,000 units of Presidential Realty's newly formed, wholly owned operating partnership.

Innovative Industrial Properties completes 1st sale-leaseback transaction: The company bought PharmaCann's newly constructed 127,000-square-foot medical-use cannabis cultivation and processing facility in New York.

George Washington University picks Boston Properties to redevelop 2 assets: The company will redevelop the properties under a ground lease with the university, the Washington Business Journal reported.