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ORANGE COUNTY, CA-Newport Beach-based CT Realty Group has sold an industrial property in Corona to its tenant, American Products. Value of the transaction was $3.55 million.
CHICAGO-The nation's largest apartment REIT has completed its acquisition of Grove Properties Trust. The acquisition added 62 properties with 7,526 units to Equity Residential's portfolio, which now consists of over 225,000 units in 35 states.
ST. PAUL, MN-The brothers have changed the name of the property, Townview Apartments, to Phalen Village Apartments. They plan to renovate and reposition the complex, for which they paid $5 million.
NEW YORK CITY-Investment opportunities will be sought on properties capitalized between $20 to $50 million that can benefit from value enhancement. Initially, the firm will focus on domestic transactions and in the near future seek out international deals.
DENVER-The real estate community puts up a record $5.1 million to support efforts to defeat Amendment 24, an anti-sprawl constitutional measure that opponents say will erode the state's economy. Voters decide on the issue in the Nov. 7 balloting.
FRANKLIN TWP, NJ-A fast-growing high-tech materials science company, recently named one of the state's fastest growing companies, has committed to lab/flex building for an additional five years.
TROY, MI-The Hayman Co. will oversee property management after the $100-million project is complete. The project, about one-third completed, will create more than 700,000 leasable sf on 60 acres.