New York City-based Blackstone Group and Columbus, Ohio-based Glimcher Realty Trust have reportedly teamed up to buy the 1.1-million-square-foot Pearlridge Center in Oahu, Hawaii for $242 million, according to the Wall Street Journal.

Neither firm has confirmed the deal.

If completed, this would be the second deal between the two firms since they announced a joint venture in November 2009.

The companies are buying the property, which is the second largest mall in Hawaii, from Northwestern Mutual Life Insurance Co.

HFF Lines up $160M Financing for Washington Harbour

The Washington, D.C. office of Holliday Fenoglio Fowler L.P. (HFF) arranged $160 million in financing for Washington Harbour, a class-A, two-building, mixed-use development on the Potomac River in Washington, D.C.

Working exclusively on behalf of Rockpoint Group LLC and MRP Realty, HFF senior managing directors Bill Asbill and Bob Donhauser and managing director Cary Abod secured the five-year, fixed-rate loan with MetLife Real Estate Investments.

Washington Harbour has two towers totaling 532,601 square feet; 456,376 of office space and 76,225 square feet of retail space. Washington Harbour is 86 percent leased.

In a separate deal, HFF’s Atlanta office closed the sale of the 94,966-square-foot Duluth Station shopping center in Atlanta.

HFF director Jim Hamilton led the investment sales team on behalf of the seller, L&B Realty Advisors LLP. Forge Capital Partners purchased the property for $8.3 million free and clear of debt.

The property is 79 percent leased to tenants including Publix, Great Clips, H&R Block, Kauffman Tire, Kumon Learning, State Farm and Subway.

RED Development Buys Woodbury Lakes Shopping Center

RED Development LLC acquired the 400,000-square-foot Woodbury Lakes Shopping Center in Woodbury, N.Y. through a joint venture with an institutional partner. The property was acquired for an undisclosed price.

RED and Opus Northwest originally built Woodbury Lakes for roughly $70 million in 2005 and then sold it to Cornerstone Real Estate Advisors for $99 million in early 2006. The property was recently returned to its lender, who then sold the property back to RED.

According to the firm, the transaction is part of a new strategy to acquire completed or nearly completed core shopping centers that are either distressed or require a more hands on approach to operations.

The center will be managed by RED Development’s property management division, RED Asset Management. RAM will work closely with the current operator, Welsh Companies LLC.

Cedar/RioCan JV Completes $53M Acquisition

A joint venture between Cedar Shopping Centers Inc. and RioCan Real Estate Investment Trust completed the previously announced purchase of the 361,000-square-foot Exeter Commons hopping center in Exeter Township, Pa., for $53 million.

The property, completed in 2009, is anchored by a 171,000-square-foot Lowe's Home Improvement Center and an 82,000-square-foot Giant Food Stores supermarket, with leases extending to 2029 exclusive of renewal options.

The purchase price was funded by a $30 million loan from New York Life Insurance Co. at 5.3 percent for a term of ten years, with amortization on a 30-year schedule.

Dominion American Closes Loan Modification

Dominion America Realty Advisors closed a loan modification and restructuring of the financing on a major Northern California retail shopping mall. DARA’s Vice President, Loren Thall, negotiated the extension, discount and loan modification of an expired CMBS loan on behalf of the borrower, an experienced retail shopping center owner who owns several commercial properties.

The 410,000-square-foot shopping mall, constructed on approximately 30 acres of land in 1985 and 1986, had lost two of its four anchor tenants. DARA, through its borrower advocacy program, was able to reach an amicable conclusion with the special servicer on behalf of the CMBS bond holders to discount, restructure, and extend the original $12 million loan.

The new financing arranged by DARA provided the borrower with a 21 percent reduction of the original loan principal and extended the loan term by an additional year at the existing rate.

Jones Lang LaSalle Brokers $11.1M Sale

Atlantic Realty Investments sold the 46,743-square-foot Bell Creek Commons in Richmond, Va., to GDA Real Estate for $11.1 million.

Jones Lang LaSalle arranged the deal. Leading the Jones Lang LaSalle team on this transaction were managing directors, Kris Cooper and Margaret Caldwell and associate Christie Hawver.

The center was developed in early 2008 and is currently 97 percent occupied.

Cushman Brokers Single Tenant Asset Sale

On behalf of Commonwealth Center Associates, Cushman & Wakefield of Massachusetts Inc. announced the sale of the 25,000-squre-foot Savers | Framingham single-tenant retail asset in Framingham, Mass. Cushman & Wakefield's Capital Markets Group of Robert E. Griffin, Jr. and Geoffrey Millerd exclusively represented Commonwealth Center Associates and procured the buyer, the Bulfinch Cos..

Originally constructed in 1960, Savers | Framingham has served a number of different uses over its life. Over the years the building has been home to a variety of tenants, including Shawmut Bank and most recently CompUSA. Savers signed a 12-year lease for the entire building in 2009 and opened its store in July.

Other Notable Deals

Edwards Realty Co. acquired the 67,767-square-foot LaGrange Crossing in LaGrange, Ill., for an undisclosed price. Mid-America Real Estate Corp. represented the seller, an unnamed institutional firm.

CPEX Real Estate Services Division arranged the $1.6 million sale of a commercial condominium located at 79 Bridge Street in the DUMBO neighborhood of Brooklyn, NY. The space included approximately 4,400 square feet of retail/office space as well as an additional 2,200 square feet of basement storage and 9 enclosed parking spaces. CPEX also sold two adjacent buildings containing 5,108 square feet in Glendale, Queens for $875,000.

Berlin Mall LCC, a joint venture between Lerner-Heidenberg and Goldstein Associates, acquired the Berlin Mall in Berlin, Vt., from Developers Diversified Realty for an undisclosed price.