Rents in the Bay Area were up by 5.4 percent.

Mori Building Co is bringing over its urban Asian development experience.

The investment firm teamed up with Riller Capital on the purchase.

The eight properties are located in the Sun Belt and Midwest markets.

It will be eligible under a Housing Preservation and Development through a case-by-case basis.

Occupancy in the portfolio averages more than 93 percent.

Rent growth was just 0.37 in the first quarter.

The site is fully leased to an unnamed sports and outdoor retailer.