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Regency unveils Houston retail project; Gladstone nabs Pa. office asset


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Regency unveils Houston retail project; Gladstone nabs Pa. office asset

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

* Regency Centers Corp. unveiled plans for a roughly $30.5 million ground-up development in Houston, which is expected to kick off in the first quarter of 2017 and open in spring 2018. The Village at Riverstone project will feature 165,000 square feet of retail space, including a 100,000-square-foot Kroger store and other national and regional retailers.

* Gladstone Commercial Corp. closed on its first investment in the King of Prussia submarket of Philadelphia with its purchase of a class A office building fully occupied by Radial Inc. under a 15-year lease. The company paid $25.5 million for the 103,334-square-foot property at an average cap rate of 8.7%.

* Four Corners Property Trust spent $7.0 million to buy four Hardee's restaurant properties in Georgia and Alabama. The acquired restaurants are subject to a new 20-year term, triple-net master lease.

* FIBRA Prologis picked up two fully leased class A logistics facilities in the southeast submarket of Ciudad Juarez, Mexico, for US$16.2 million, including closing expenses. Newly developed by the company's sponsor, Prologis Inc., the facilities are 100% leased and cover 250,400 square feet.

Additional coverage

Gramercy Property buys 17-asset industrial portfolio for $521M: The 10.3 million-square-foot class A portfolio comprises 15 stabilized assets and two value-add assets.

Vornado obtains $192M in repayment of loans on NYC property: The company now owns a 49.9% stake in the entity that owns the property.

CNL Lifestyle shareholders to vote on asset sale, liquidation plan in 2017: The company's liquidation and dissolution plan is subject to the approval and closing of the asset sale.

American Hotel Income buying 3 Midwest US hotels for US$124M: The hotels comprise a total of 782 guest rooms and are in proximity to Columbus, Ohio; Cleveland; and Cincinnati.

Xenia Hotels sells 4 hotels for $119M: The hotels are in Houston; St. Louis; Denver; and Evanston, Ill.

Columbia Property exits Dallas, Phoenix markets with 2-property sale: The two properties sold for combined proceeds of $109.5 million.

CoreCivic wins federal contract at Ohio correctional facility: The company secured the contract from U.S. Immigration and Customs Enforcement.

Toll Brothers, AECOM land $130M in financing for Washington, DC rental project: The project will contain 525 units and stand 14 stories tall.

Farmland Partners to buy Illinois farmland for $55.3M: The company is buying 8,638 acres and plans to negotiate new lease agreements with multiple tenants.

Pure Multi-Family REIT strikes US$40M multifamily deal in Austin, Texas: The deal marks the company's first foray into the Austin, Texas, market.

Urban Edge under contract to buy leasehold interest in NY retail center: The $32 million transaction is set to close during the 2017 first quarter.