PALO ALTO, CA-The locally based company's Apartment Value Fund II acquires three California multifamily properties with a combined 907 units. Two of the properties are in the Bay Area cities of Foster City and Belmont and the third is in the City of Corona in Southern California.
PORTLAND-Schnitzer Investment Corp. sells the 96,266-sf Pacific Gas Transmission building here for $25 million, which is $6 million more than the locally based company paid for the eight-story building just 36 months ago.
RENO, NV-The College Park Investments division of newly public military and student housing investor pays $32.5 million for a 216-unit student housing property here that serves the University of Nevada. The purchase follows a $277-million portfolio acquisition that closed earlier this week
EVERETT, WA-With its advisor Waterton Associates, the California State Teachers Retirement System purchases the Crystal Cove Apartments here for $22.7 million.
LOUISVILLE, KY-Rouse Co. closes on its acquisition of Oxmoor Center, a rival 930,000-sf mall here that sits across Interstate 264 from Mall St. Matthews, the company's other mall in the market. In a matter of days, Rouse will become part of General Growth Properties.
SEATTLE-Bascom Northwest Ventures of San Francisco pays Portland, OR-based Harsch Investment Realty $106,268 per unit for the 97% leased, 351-unit high-rise apartment development in the city's First Hill neighborhood, immediately east of Downtown.
DAVIS, CA-The Newport Beach-based investor and developer pays about $4 million for a 59,000-sf business park here that is approximately 65% leased. The company plans about $500,000 in upgrades to the site.
LAS VEGAS-As planned, the first phase of the multi-billion dollar project would include 18 million sf of built space including a 4,000-room casino-hotel, three 400-room boutique hotels, 550,000-sf of retail, dining and entertainment facilities and 1,650 units of for-sale housing.
UNION CITY, CA-In the culmination of a build-to-suit arrangement, Axygen Scientific pays $9.9 million for two newly constructed warehouse manufacturing buildings that will double as the company's headquarters. Next door, AMB speculatively built seven smaller would-be owner-user buildings.