Tishman International Cos., based in Los Angeles, has acquired One Plantation Place from British Land Co. PLC for $921 million. The 550,000 sq. ft. building is one of the largest developments in London. It is 100% occupied by tenants including Accenture, Wachovia Bank, Aspen Insurance and Royal & Sun Alliance.
Kennedy Wilson Multifamily Management Group LTD, in a joint-venture partnership with Wachovia Securities, has acquired a portfolio of four apartment assets — three in California and one in Oregon — totaling 1,246 units. The value of the combined acquisition and repositioning is approximately $150 million.
FR Net Lease Co. Investment Program 1 LLC has acquired the Schiff Nutrition International Building in Salt Lake City, Utah for $29 million from Cent-Mark Property Inc. The Schiff Nutrition International Building is a 416,634 sq. ft. warehouse/distribution building. FR Net Lease Co. is a joint venture between First Industrial Realty Trust Inc and UBS Wealth Management-North American Property Fund Ltd.
Atherton-Newport Investments of Southern California has acquired Deer Creek, a 328-unit apartment community from Nevada-based Flamingo Deer Creek LLC for $21 million. Sperry Van Ness, based in Irvine, Calif., represented both the buyer and the seller. Built in 1979, the property is situated on 1.17 acres and features three swimming pools and two spas.
Grunberg Realty acquired 777 Main Street, a 26-story, 346,411 sq. ft. office building from American Financial Realty Trust for $12 million. Bank of America is the anchor tenant in the 62% occupied building that is located in the central business district in Hartford, Conn. The property also includes a five-story parking garage with retail space on the first floor.
GE Real Estate provided three floating rate mortgage loans totaling $89.5 million to the Archon Core Plus Real Estate Fund LP. The fund is sponsored by Whitehall and Archon and focuses on multifamily property investments. The fund will use the capital to acquire three Class-A apartment complexes located in Oceanside, Calif., Scottsdale, Ariz., and Austin, Texas.
RREEF acquired The Cabot Industrial Portfolio from Cabot Advisors for more than $80 million. The 14-building 823,000 sq. ft. portfolio is located in Washington, D.C., Phoenix, Dallas, Atlanta, and Ft. Lauderdale. The Class-A office/warehouse portfolio consists of four single-tenant facilities with long-term leases and 10 multi-tenant properties.
The Koll Co. has acquired Rockfield Plaza from Rockfield Associates LLC for $9.3 million. The two-story, 46,502 sq. ft. garden office building is in Lake Forest, Calif. and is 85% occupied. It was built in 1984 and includes 38 office suites averaging 1,700 sq. ft. Surface parking surrounds the building on the 2.5-acre site.