This feature rounds up recent commercial property news and highlights larger deal coverage already published.
* A Blackstone Group LP unit sold 6222, 6244 and 6464 Redmont East 185th Ave. NE in Redmond, Wash., for $39.2 million, the Daily Journal of Commerce reported, citing King County records.
* R&R Real Estate Investment Trust completed the acquisition of a portfolio of nine economy extended-stay hotels for about US$35.1 million from vendors controlled by its executive chairman. The hotels offer 1,020 rooms across the U.S.
R&R funded the acquisition with US$2.6 million in cash, assumption of roughly US$15.1 million of existing mortgage debt, issuance of about US$9.4 million of class B limited partnership units to the vendors and through a US$8.0 million vendor-take back loan.
* RW HOLDINGS NNN REIT Inc. completed the acquisition of a 72.7% tenant-in-common interest in three industrial and office buildings, with roughly 91,740 of rentable square feet, on two parcels of land in Santa Clara, Calif., for about $29 million. The properties are expected to generate about $18.2 million in total rental revenue over the remaining terms of their leases.
* The RADCO Cos. purchased the 336-unit Reflections Apartments in Casselberry, Fla., from GoldOller Real Estate Investments for $36.4 million.
* SL Green Realty Corp. signed new lease agreements with three financial firms at 600 Lexington Ave., East 52nd St., New York Real Estate Journal reported. GLC Advisors & Co. Holdings LLC signed a seven-year lease for 12,487 square feet on the ninth floor of the building, KCL Capital signed a five-year lease for 6,780 square feet on the 28th floor, and NexPhase Capital LP signed a five-year deal for the 12th floor, raising the occupancy rate of the building to almost 99%.
* Waterton and Walton Street Capital LLC acquired Loews Madison, a 356-room hotel in downtown Washington, D.C., for an undisclosed price, and rebranded it to The Madison, a Hilton Hotel. The hotel, at 1177 15th St. NW, received more than $75 million in capital improvements over the last 15 years and features 12,000 square feet of meeting space, a business center, two lobby bars, a coffee shop and a fitness center.
* Berkshire Group purchased K2LA, a 177-unit, six-story mid-rise property in the Koreatown neighborhood of Los Angeles, and renamed it Berkshire K2LA. The property, at 685 New Hampshire, was purchased for an undisclosed amount.
Duke Realty to acquire $700M of logistics centers from Bridge Development
Apple store building in Paris on market for €700M
New York REIT to sell 2 NYC office assets to Columbia Property for $500M
HSBC, partner target $445M from NYC trophy asset stake sale
Xenia Hotels acquires hotels in Arizona, Virginia for $410M