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DENVER-Bear Valley Office sold the 63,770-sf Bear Valley Office Complex in southwest Denver for $4.05 million after buying the property for only $1.15 million in 1994.
FORT WORTH-AmeriSouth Realty takes over the 124-unit Park Terrace duplexes, a 99%-leased, fully subsidized complex. The rehab starts in the coming weeks in a plan to get HUD's OK to hike the rent from 89 cents per sf to 92 cents per sf.
N. RICHLAND HILLS, TX-The Austin investment group secures its second retail deed in six months in Northeast Tarrant County. The 80%-leased property sells at a 10% cap in a start to finish of 60 days. About $100,000 will go to upgrades and the lease-up strategy.
SAN FRANCISCO-One of the largest firms that work with troubled real estate and operating businesses sets up shop in Downtown San Francisco to take advantage of what for it is a growth market.
LAKE STEVENS, WA-The sale price was $5.24 million while the assessed value of the building alone is $12.48 million, according to Snohomish County records. The buyer is an investment group affiliated with Bellevue, WA-based Polygon Northwest, which plans to lease out the vacant office building and develop homes on the surrounding land.
TIGARD, OR-It took two years for the Toronto-based financial services organization to land its first Portland property, and now that it's broken in, Sun Life wants to keep the momentum.
WEST WINDSOR, NJ-The troubled conglomerate, as part of its ongoing streamlining and reorganization, will combine two existing offices in a sublet at an SJP Properties building here.
LOS ANGELES-Four new leases backfill 20,000 sf of the 120,000 sf that insurance firm Fremont Indemnity has been marketing for sublease at 500 N. Brand Blvd. The new tenants sign for the balance of the master lease term, which expires in 2007.