The two hotel properties, constructed in 2007 and 2008, sit on 4.5 acres and feature a total of 212 units.

The property at 1102 Jackson Blvd. was sold by High Associates to YMZ, LLC, according to Matthew Wolf, vice president, CCIM of Kislak Co., who brokered the transaction.

Cambridge Savings Bank will house its new operations center at the 2-million-square-foot Hobbs Brook Park, but will retain its corporate headquarters operations in Cambridge.

The two-phase Northside development now provides more than 1,500 University of Texas students with a modern, amenity-rich living experience at the northern edge of campus.

Paul Quinn officials also unveiled the completed Bishop and Dr. John Hurst Adams and Family Lecture Hall and Auditorium.

The investment partnership, the first between the two firms, encompass the Waldorf Astoria Beverly Hills and the Beverly Hilton hotel properties.

The team, led by real estate veterans and executive managing directors Sergio Pérez, SIOR and Samuel Campos, includes 18 producers, six of whom are senior experts, NKF reports.

The equity investment volume of the transaction that Allianz Real Estate is executing on behalf of various Allianz insurance companies stands at around £350m, the company states.