Gebroe-Hammer Associates has coordinated a 1031 Exchange involving the sale of a 39-unit Bloomfield, N.J. property and the acquisition of a Montclair, N.J. property package, which contains 29 apartment-rental units and an adjacent single-family home containing a 19-space parking lot.
How big is too big? That’s the question regarding the mega-merger deal of Brookdale Senior Living’s $2.8 billion purchase of Emeritus Corp.—a deal that will result in a firm spread out over 1,161 properties in 46 states....More
San Francisco-based DivcoWest, through its DivcoWest Fund IV, has purchased the 670,000-sq.-ft. One Kendall Square in Cambridge, Mass. for a reported $395 million to beef up its technology-based office holdings....More
Matan Cos., through its Matan Fund IV, has acquired Milestone Business Park, a 42-acre campus in Germantown, Md., from Multi-Employer Property Trust for $128 million.
Cassidy Turley represented the seller in the transaction....More
Host Hotels & Resorts LP (NYSE: HST) sold an 89% stake in its ownership interest of the Philadelphia Marriott Downtown for $270.03 million, or about $215,000 per room, in a deal that values the hospitality asset at $303.4 million....More
Starwood Capital Group closed 2013 with a bang–a 1.1 million-square-foot bang. The investment firm acquired a portfolio of 12 office properties in San Diego, Calif., from Kilroy Realty Capital for $294.5 million....More
In a $99.5 million deal, California-based Terramar Retail Centers has purchased the newly developed 223,000-square-foot Laulani Village Shopping Center in Ewa Beach, Oahu, from Property Development Centers, a subsidiary of Safeway Inc....More
Shorenstein Properties, a private real estate firm with offices in San Francisco and New York, has acquired 1-3 Center Plaza in Boston for $307 million from Blackstone Group's Equity Office Properties Trust....More