Southeast

In the first deal, recently formed LBX Investments of Los Angeles has purchased Alfaya Commons, a 130,811-square-foot shopping center at 11792-11970 East Colonial Drive from Regency Centers in a deal valued at $19.8 million.

It paid $82.5 million for the site or $589,000 per acre.

Colliers has acquired 75% of Harrison Street, with the senior management team of Harrison Street owning the balance of the equity.

So far CMBS volume is tracking better than issuance in the same period in 2017.

There were 140 multifamily transactions in South Florida in the first quarter of this year, an 8.5% increase as compared to a year earlier. Multifamily per-unit prices also rose in Miami-Dade, Broward and Palm Beach counties.

The sale marks the first purchase in South Florida for Yair Levy, a New York-based investor and developer who has proactively diversified his portfolio of holdings after a contentious legal battle resulted in a ban from selling residential condominiums and co-ops in New York State in 2011.

The company will announce its plans for development at a future date.

The offering was oversubscribed by institutional investors from around the world.