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AKRON, OH-The 402-unit Chapel Hill Towers senior housing complex at 1111 Independence Ave., along with a 20-acre site, is sold by Cleveland-based Forest City Residential to locally-based Summit Management Co.
PHOENIX-Koll Development has joined 12 other developers bringing office structures out of the ground in the bustling Interstate 17 corridor and Loop 101. Koll's broker has closed more than 30 land sales in four years for the stretch.
DENVER-Casinos report adjusted gross proceeds of $48.7 million, down $3.7 million from March, the second-best month on record. The 20 casinos in Black Hawk account for 70% of the total from 44 gaming venues in three towns.
MINNEAPOLIS-Led by SuperTarget, Sam's Club and big supermarkets such as Lund, retailing is one of the area's healthiest commercial real estate sectors, is showing strong development and vacancy rates around 5.1% with 1.7 million sf absorbed.
GEORGETOWN, TX-New Jersey-based MDU Communications gets a provider pact for the upscale Waters Edge in Georgetown. For Austin-based US OnLine, three more multifamily properties have been added to its portfolo.
LONDON-Aberdeen Property Asset Managers has bought Centurion House, 24 Monument Street, London EC3 from clients of Clerical Medical Investment Management.
LOS ANGELES-The 178-unit landmark apartment complex is up and running again after being rebuilt to its original specifications and sold for $48 million. The original SeaCastle was torn down after the Northridge earthquake and a fire that followed two years later.
FULLERTON, CA-An aerospace-related manufacturer has paid $8.2 million for a 15.7-acre parcel in Fullerton. The buyer has tentative plans to build an industrial facility on the site.
AUSTIN-McShane Corp. has just closed a 25-acre buy from Kennedy-Wilson. The land will jumpstart a $15-million, 250,000-sf expansion of Tuscany Center. By August, crews will be working on the first phase, a 160,000-sf warehouse-service center.