PALO ALTO, CA-The Essex-led JV turned its proposed $36-per-share offer for Town and Country into a definitive one early Tuesday, but by the end of the day Berkshire Property Investors had bested their bid by a $1 per share. Meanwhile, the TCT board already has recommended shareholders approve a previous bidder's sub-$34 offer at a vote set to occur early next month.
SAN ANTONIO-La Mansion del Rio Inc. agrees to sell to Omni Hotels the La Mansion del Rio Hotel on the River Walk here and the nearby Watermark Hotel and Spa. The transaction is set to close in mid-March.
EVERETT, WA-Mosaic USA LLC acquires the 221-unit local apartment property formerly known as Foxridge for $21.7 million. It last changed hands in 2002 for $13.1 million.
SALEM, OR-The principals of a locally based manager of assisted living communities acquires four properties its firm already manages. The seller was publicly held LTC Properties of Westlake Village, CA.
SEATTLE-Slated for the northwest corner of Denney Way and Dexter Avenue, the development is fulfilling an agreement the real estate company made when it acquired land from the city in 2001.
SEATTLE-Slated for the northwest corner of Denney Way and Dexter Avenue, the development is fulfilling an agreement the real estate company made when it acquired land from the city in 2001.
OAKLAND, CA-The price is believed to be between $300 and $310 per sf, which would equate to between $138 million and $143 million for the 460,000-sf main tower here. The deal also includes a 500-stall parking structure; a 10,000-sf retail wing; and a four-story, 40,000-sf office building.
LAS VEGAS-Trans-Aero Land & Development Co. pays $22.25 million for the four-story building leased to the Las Vegas Police Department. The seller, a joint venture led by Triple Net Properties' NNN 2003 Value Fund, acquired the property in 2004 for $8.1 million.
CINCINNATI-Using 65% leverage, the locally based retail real estate investor says the fully discretionary institutional fund plans to invest $300 million in grocery-anchored retail centers in 2006. Over the next three years, it will total $800 million.
CINCINNATI-Using 65% leverage, the locally based retail real estate investor says the fully discretionary institutional fund plans to invest $300 million in grocery-anchored retail centers in 2006. Over the next three years, it will total $800 million.