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LONDON-Hermes Property Asset Management has invested $61 million in Capital & Regional's Mall LP, following the sale of its Marlands shopping center in Southampton to the fund.
WALTHAM, MA-JAFCO America Ventures enters the east coast with its lease of 5,000 sf of office at 950 Winter St. in the Bay Colony Corporate Center. The 980,000-sf site is owned and managed by the Shorenstein Cos.
ST. PAUL-The spin-off of a Swiss medical firm will start out with a small lease in Energy Park, then take on expanded space at the new biotech incubator project, which is expected to get underway early next year.
GRAND PRAIRIE, TX-The door opens to two new tenants, including a Houston-based firm putting a first-time move on the metroplex, when C. Freeman Co. relocates, expands and renews in the Great Southwest Industrial District.
LONDON-Royal London has sold the freehold investment of Westcroft Retail Park in Milton Keynes, Buckinghamshire to JP Morgan for pounds 18.6 million ($32 million), reflecting a net initial yield of 5.66%.
HOUSTON-Granville Properties of Calgary, Alberta, trades in a San Diego retail property for the 21,900-sf Mason Plaza, paying $3.4 million for a center that delivers in January at 100% occupancy in the far west submarket.
PALM BEACH, FL-Altima International Inc. and Citi Properties Inc. formed Altima International Properties Inc., based here, which will serve developers' acquisition and marketing needs. Altima International Properties will serve West Palm Beach and the surrounding area.
CHICAGO-United Concrete Corp. will acquire a 3.1-acre site at 4100 S. Packers Ave. for $440,000, where it will build a $4.5-million office and manufacturing facility. The deal is a shift from 41st Street and Normal Avenue, which is being surrounded by residential development.
MCLEAN, VA-Freddie Mac tries to put its internal accounting problems in the past and commits to paying a $125 million penalty under a consent order charging the housing mortgage financier with misstating earnings.
PHILADELPHIA-As the $24-million acquisition of 142,000-sf Columbus Crossing, its fourth local property, reaches completion, the REIT inks an deal to buy Sunset Crossings, a 75,000-sf shopping Center, for $11.2 million.