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This is the largest ever single-asset student trade in the United States.

“Kevin is a respected and proven leader with deep experience in building long-term institutional relationships in the real assets market,” says CenterSquare's Todd Briddell.

"This acquisition continues the expansion of our nationwide industrial portfolio, which seeks to secure strong, income-oriented returns at this mature stage of the current real estate cycle,” says Brodie Ruland, ASB senior vice president and Northeast region head.  

“Maggie's management experience encompasses multiple tiers of tenant representation, business development and client management, ideally qualifying her for her new position,” says Greg Tait, senior leasing director, Irvine Company Office Properties.

“The property's durable cash flow and attractive yield were a highly compelling investment proposition for the buyer's first US acquisition,” says NKF's Kevin Welsh, whose team brokered the sale.

For the past four years, BREG invested in substantial capital improvements and implemented an active management plan to convert the property from standard office zoning to its current medical office status.

HarborChase Cordova is the second development of the partnership in the East Memphis area. Their HarborChase of Germantown project is under development and anticipated to open in the summer of 2019.

GM also notes that in addition to the previously announced closure of its assembly plant in Gunsan, Korea, GM will cease operations at two additional plants outside North America by the end of 2019.