PHOENIX-Tarzana, California-based Gelt Inc. has acquired the Ferntree and Colonnade Gardens complexes from Aimco REIT for a total amount of $16 million.

LINCOLNWOOD, IL-First Midwest Bank, the lender on the Purple Hotel, has filed a foreclosure suit against the owner of the hotel at 4500 W. Touhy Ave. in Lincolnwood.

PHILADELPHIA-Beacon Commercial Real Estate has closed four lease deals at One Belmont Ave., known as the GSB building, in Bala Cynwyd.

CHICAGO-The City Council has approved the controversial plan proposed by North Side developers for the redevelopment of the old Lincoln Park Hospital site.

NEW YORK CITY-Epic LLC has confirmed that it is purchasing the newly built Meatpacking District office tower located at 15 Little West 12th Street for over $70 million.

DALLAS-Younan Properties, an investor based in Los Angeles, is seeking a buyer for Energy Square buildings located along North Central Expressway.

NEW YORK CITY-Cohen Brothers Realty Corp. has inked leases with three new tenants at its 3 Park Avenue building.

SUNRISE, FL-CB Richard Ellis has closed the sale of an office building in Fort Lauderdale.