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MIAMI-UBS Realty Investors LLC sold the 11-story office building, with 124,931 rentable sf, for approximately $136.08 per sf to Brookwood Financial Partners LP. The class B property is 91% occupied.
FORT WORTH-Griener PURtec will get its keys in January to an expanded location within Riverbend Industrial Park. In other deals, two park newcomers have their keys to 24,000 sf and an existing tenant holds tight to 8,100 sf.
PHILADELPHIA-Bala Cynwyd, PA-based American Business Financial Services closes the public/subordinated mortgage loan funding through lead manager Credit Suisse First Boston and co-manager Bear Stearns. The securities are not guaranteed, but 87% are rated AAA by S&P and Moody's.
WASHINGTON, DC-Charlotte, NC-based Summit Properties Inc. makes plans to expand its presence in the Washington area--one of its core markets--with news that it will let go of its Texas properties and redirect resulting profits to deeper penetration here and in Southeast Florida.
NEWTON, MA-As part of the court case involving Five Star Quality Care and Marriott International, a state court rules that Marriott can sell its management contracts for 31 senior living communities which are owned by Senior Housing Properties Trust and leased to locally based Five Star.
ORLANDO-The University of Central Florida's index of private construction intensity in the single and multifamily dwelling market for the first half places Las Vegas in the top spot for the fifth consecutive year. Atlanta was second; Phoenix-Mesa, third.
PHOENIX-Two properties, with 394 units, in Arizona and eight assets, with about 1,800 apartments, in New Mexico hit the market. For months, Hall Financial Group has been hiring teams to hawk its 1980s-acquired, class B complexes in the Southwest.
ALAMEDA, CA-Catellus Development Corp. and the Building and Construction Trades Council of Alameda County negotiate project labor agreements for Northern California projects worth approximately $2 billion.
PHILADELPHIA-The 123,500-sf former plastics polymer manufacturing facility on 11 acres in Delano, PA in Schuykill County, which has been on the market for several years, sells for a bargain $1.075 million, or $8.70 per sf.
EAST RUTHERFORD, NJ-The asset, located adjacent to the Meadowlands Sports Complex, will be managed by 50% owner Prime Hospitality. United Capital owns the other 50%.