MUNHALL, PA-The Pittsburgh-based public company agrees to purchase a building in The Waterfront development here that was built for and leased by Siemens Westinghouse Power Corp. but never occupied.
SANTA CLARA, CA-The Washington, DC-based office REIT pays $129.7 million for the fully leased, 12-story class A office tower, saying $51.6 million of the purchase price is attributable to the above market rents that are in place for the next seven years.
BERKELEY, CA-Moroga, CA-based Mackenzie, Patterson, Fuller Inc. sells the Downtown retail, theater and office complex here to a locally based family trust for $17.2 million, according to the Marcus & Millichap brokers who had the disposition assignment.
RIDGEFIELD, WA-Having sold off all but one parcel of its 75-acre Ridgefield Industrial Park at Exit 14 from Interstate 5, the Port of Ridgefield is turning its attention to another 75-acre parcel there, this one designated for a more office-oriented Discovery Pointe Corporate Park.
WARSAW-Locally based PBK Property sells the new 91,500-sf office and residential development in the center of the city to Luxembourg-listed MaMaison Residences SA, according to Colliers International, the brokerage firm that had the disposition assignment.
SPOKANE, WA-The new owner, Marshall Chesrown, thinks he got a good price for the 77-acre chunk of prime land across the river from Downtown Spokane. Nitze Stagen, the bankrupt seller's former development partner also likes the price, but only because it is a creditor.
SAN ANTONIO-The Denver-based multifamily REIT sells two class B apartment complexes in the northwest section of the city to Irvine, CA-based Real Estate Partners, which will invest $3 million to rehab the property on top of its $16.7 million acquisition cost.
TORONTO-The family that lost most of its fortune developing Canary Wharf in London invests an additional $10 million in the locally headquartered public company, increasing its interest in the US-focused office REIT to 13%.
FRANKFURT-Locally based WCM Beteiligungs- and Grundbesitz-Aktiengesellschaft sell their entire multifamily portfolio for about euro 1.4 billion ($1.85 billion) to real estate funds advised by the Blackstone Group of New York.
PORTLAND-The new URA comprises industrial zoned sections of North and Northwest Portland along the Willamette River. Part of the impetus is the opportunity to partner with Siltronic in developing its new silicon wafer fab plant in Northwest Portland.