GIC Real Estate has acquired two newly completed office towers in Munich for $380 million. Houston-based Hines developed the two buildings as part of the Uptown Munchen office campus in 2005. The signature tower, the 38-story Uptown Munchen Tower, is one of the tallest buildings in Bavaria. The Uptown Munchen Tower is leased by 02 Germany, a leading telecom firm. The other property, the campus building, is fully leased to Adobe Systems.
Rockrose Development Corp. has acquired three office buildings in Washington, D.C. for $193 million from Marshall B. Coyne Trust Portfolio. The buildings are located at 1156 15th Street, NW, 1101 15th Street, NW, and 1620 Eye Street, NW. The seller was the Marshall B. Coyne Trust. The three-building portfolio consists of roughly 470,000 sq. ft. of fully leased office space located just blocks away from the White House.
Legacy Partners has acquired a 348-unit apartment complex in Chatsworth, Calif. for $52 million. Foster City, Calif.-based Legacy Partners bought the units from the Sares Regis Group. Waterstone Apartments features garden-style, studio and one- and two-bedroom apartments ranging from 503 to 1,027 sq. ft. Legacy Partners, which has a strong history of rehabilitating rental projects, also plans to renovate the complex.