Grosvenor Investment Management has acquired a portfolio of 10 buildings located in Durham, N.C., from Transwestern for an undisclosed sum. The 1.53 million sq. ft. portfolio is 83% leased to more than 150 different organizations. The portfolio consists of eight industrial distribution buildings, one flex R&D property and a full-service office building. The site has an additional 8.2 acres of undeveloped land. Rockwood and Colliers Pinkard represented the seller.
Lowe Enterprises Investors and Blue Vista Capital Management have acquired two 264-unit apartment complexes located in southeastern Colorado for $31.2 million. The properties sit roughly 2.5 miles away from downtown Colorado Springs. The units consist of one- and two-bedroom apartments housed within 30 three-story buildings. The joint venture will renovate many of the units while redesigning the central clubhouse.
The Moinian Group will convert its downtown Manhattan office tower located at 95 Wall Street into luxury rental units. The former JP Morgan Chase headquarters will be converted into 507 residential units by the end of 2008. The Moinian Group spent $130 million to acquire the 500,000 sq. ft. office property in 2004. The finished project will include a sleek penthouse unit, fitness center and outdoor decks with views of lower Manhattan.
