DENVER—Granite Peak Partners Inc. sells Hearthstone at City Center, comprised of 360 apartment homes, for $53.4 million and Bella Terra at City Centre, which has 304 apartments, for $37.6 million.

NEW YORK CITY—Led by Gramercy CEO Gordon DuGan, the combined company reportedly will be the largest office and industrial net lease REIT, with an enterprise value of approximately $5.7 billion.

LOS ANGELES—Developing medical-office buildings and paying close attention to timing in each market are two ways investors are increasing yield in a low-cap-rate environment, said speakers at RealShare National Investment & Finance.

CHICAGO—The firm will also seek out deals throughout the Midwest, but with a special focus on Denver and Minneapolis.