Berkadia Closes Four-Property MW Portfolio Sale

The Tristate Portfolio, a 545-unit, four-property portfolio of conventional multifamily communities located in Illinois, Indiana and Wisconsin, has traded hands for $41.5 million. The properties included: – Garden Quarter, a 184-unit, garden-style apartment community built in 1972, located in Elgin, IL 40 miles northwest of Chicago – Glacier Hills, a 123-unit, garden-style apartment community built

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Transwestern Picks Up 2.5M-SF Midwest Industrial Portfolio

Dallas-based Transwestern Investment Group (TIG) acquired a nine-building industrial portfolio exceeding 2.5 million square feet in St. Louis and Indianapolis for an undisclosed amount. Eastdil Secured’s Jay Borzi, Steve Silk and Josh McArtor brokered the transaction, on behalf of the unnamed seller, reportedly Blackstone. TIG’s John Higgins says, “We were attracted to this portfolio because

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North Carolina Investor Nabs First DC-Area Asset

Grubb Properties acquired Argon Plaza, a nearly 275,000-square-foot office building in Fairfax, VA, from C-III Asset Management for $38.8 million. It is the Charlotte, NC-based commercial real estate company’s first investment in the Washington, DC metropolitan area. The property is located within the Fair Lakes master-planned community, and features high visibility from and easy access

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1M-SF American Airlines World Headquarters Up for Sale

Transwestern has been tapped to represent American Airlines Inc. in the sale of Campus Center at Dallas-Fort Worth International Airport. The three-building, 1,388,727-square-foot office campus on Amon Carter Blvd. is currently the American Airlines World Headquarters. Both American Airlines Inc. and American Airlines Federal Credit Union will relocate to a new, 1.8-milllion-square-foot headquarters campus, which

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Los Angeles Investor Expands Rose City MF Portfolio

Trion Properties acquired three multifamily assets totaling 174 units in the Portland, OR area for a combined $24.2 million. The properties include a portfolio of two multifamily communities, Menlo Square Apartments (pictured) and Center Square Apartments, totaling 103 units in Beaverton, as well as Maple Tree Apartments, a 71-unit multifamily community in neighboring Tigard. Center Square

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Downtown Portland Tower Trades for $180M

Los Angeles-based American Realty Advisors, along with Seattle-based JV partner Unico Properties LLC, reportedly acquired Moda Tower, a 24-story tower in Portland, OR, from UBS Global Asset Management for a price in the neighborhood of $180 million. The 398,412-square-foot property is located at 601 SW 2nd Ave. and was completed in 1999. The Class A

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Paramount Divesting D.C. Asset for $220M

New York-based Paramount Group, Inc. is selling 2099 Pennsylvania Ave., a 12-story, 208,776 square foot, Class A office building in Washington, DC for roughly $220 million. The buyer reportedly is Los Angeles-based real estate investment firm CommonWealth Partners. Paramount’s Albert Behler says, “Since our IPO, we have been creating value at 2099 Pennsylvania Avenue by increasing leased

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T-Mobile-Occupied Office Campus in Bothell, WA Sold

Canyon Pointe, a single-tenant, 174,546-square-foot Class A office campus fully-occupied by T-Mobile in Bothell, WA, has traded hands. Built in 2007, the property includes two, three-story buildings situated on 9.76 acres at 22309 and 22213 30th Drive SE. NKF’s Kevin Shannon, Nick Kucha, Ken White, Michael Moll and Bill DeLacy represented the unnamed seller. Shannon

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Whole Foods 365-Anchored Retail Center Near Portland Sold

Oswego Village, a 102,809-square-foot, Whole Foods 365-anchored retail center in Lake Oswego, OR, has traded hands, for a reported $34 million. Charlotte, NC-based Asana Partners purchased the asset free and clear of existing debt from California-based Terramar Retail Centers. The 84.5%-leased center is located on 7.7 acres at 11 State St., along State Highway 43 in

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CityCenter Selling Mandarin Oriental Las Vegas for $214M

CityCenter Holdings, LLC, a venture between MGM Resorts International and Infinity World Development Corp, plans to sell the 47-story Mandarin Oriental Las Vegas and adjacent retail parcels for approximately $214 million in cash, to an undisclosed buyer. The USGBC LEED Gold-certified property is located at the entryway of the CityCenter mixed-use development in the heart of the

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