IRET also has closed on the sale of its entire Topeka portfolio consisting of 1,042 multifamily homes for $82.75 million.

The 86,000-square-foot development will be the first and largest ground-up Opportunity Zone project in this highly-desirable submarket.

The New York City-based firm reports it has recently sold the Skyridge Club Apartments in suburban Chicago and the Sugarloaf Trails Apartments in suburban Atlanta.

The existing four-building complex will feature creative tenant interiors, second floor terraces, pedestrian-friendly walkways, landscaping and public art.

Although there has been a number of consolidations undertaken by big-pharma companies, the number of small and mid-tier pharma and bio-tech firms in New Jersey continues to climb.

CBRE states that the properties attracted offers from 15 separate investment groups.

The adjustable-rate loans have seven-year terms with five-year extension options if performance goals are met.

The sale of St. Christopher's to Tower and Drexel is part of the process to resolve the Chapter 11 bankruptcy filed by American Academic Health Systems LLC.