Daniel Vittone of Voit Commercial Brokerage in Irvine, CA saysCarmel Village Retirement Residences' first investment is an85%-occupied, four-building portfolio at 2600-656 S. Loop West."They're getting familiar with the property right now. Then, theycan see how they can increase value through repositioning orcapital investments in the buildings," Vittone says.

Vittone tells GlobeSt.com that the buyer expects to close on itssecond office building in Houston in 60 to 75 days. "They'resetting up some business relationships and once those havesolidified, can meet their financial goals," he says aboutlong-range plans involving joint venture partners. In the earlygoing, he says Carmel Village will be looking for multi-tenantindustrial product and class B and C office asset in the$15-million to $50-million range. "They're seeking secondary andtertiary markets and projects with better returns and more cashflow--and 8% cap rates or better," he says.

Although it's not selling all that it owns, Mammoth did hawkanother holding in recent months, the 19-acre Brittmoore RoadIndustrial Park in the northwest submarket. This time, Vittone saysMammoth elected to sell the 20-year-old South Loop West buildingsbecause cap rates are depressed and demand is growing.