Columbus

Washington Prime Group says it expects to use loan proceeds to reduce outstanding balances on its credit facility and for its ongoing redevelopment efforts.

So far this year, Columbus, OH-based Coastal Ridge's multi-family acquisition volume in Fort Myers totals almost $200 million.

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

The latest purchase deals bring the REIT's acquisitions so far this year to $236.4 million.

The Coastal Ridge/H. Katz joint venture has purchased more than $1 billion in properties since its inception in November 2014.

“The outside capital is really helping to push local investors understand the value of the real estate and the opportunity that exists, and they are stepping in.”

Vacancy rates are extremely low, and even though there is significant demand, very little new product is under development.

COLUMBUS—This was the largest suburban office portfolio sold in the metro area since 2011.