KUALA LUMPUR-CIMB Bhd. and the Singapore government's investment arm Temasek Holdings Ltd. are negotiating the terms and conditions for a joint venture that will launch real estate funds in Malaysia.
MEMPHIS, TN-Empire Corporate of New Jersey purchases the garden-style Germantown Apartments here from the New York-based investment group for slightly more than $26.6 million.
VACAVILLE, CA-Braddock & Logan Services pays $24.8 million for Morgan Park Apartments, a 148-unit Class A luxury apartment community here that was 94.5% occupied at closing, according to the seller's broker, Scott Davis of Moran & Co.
LYNNWOOD, WA-As part of its ongoing $150-million redevelopment and expansion that began in 2002, General Growth Properties unveils The Village, a new outdoor lifestyle center at Alderwood Mall.
LAS VEGAS-Eagle Real Estate of Orange County, CA pays $82.5 million for three close-in apartment complexes here with plans to invest an additional $5 million to reposition the properties.
SAN JOSE, CA-CarrAmerica, the owner of the 67,582 sf building says the contingent sale price is $5 million. At that price, the Washington, DC-based company says it would lose $2.3 million on the transaction.
TEL-AVIV, ISRAEL-The locally based and publicly traded company's Plaza Centers subsidiary agrees to sell four shopping and entertainment centers to Dawnay Day Europe Limited for $72 million (euro 56.5 million) in cash and debt. However, Klepierre Group has the right of first offer for the properties.
CAMPBELL, CA-With plans to spend another $100 million in Northern California over the next 12 months, Westcore Properties of San Diego and Longwing Real Estate Ventures LLC of New York joint venture the $52.8-million acquisition of Vasona Technology Park, a seven-building, 307,000-sf R&D/Flex park here that is 90% leased.
SONOMA, CA-DiamondRock Hospitality Co. closes on its first asset, the 182-room Lodge at Sonoma, for $33 million. The Bethesda, MD-based company sold $210 million in stock in July with plans to leverage the equity into $500 million in assets before applying to list with the NYSE next year.
RENTON, WA-The publicly traded apartment REIT from Palo Alto, CA acquires the Fairwood Pond Apartments here for $21.1 million, which is about $3.5 million more than the seller paid for the asset in 2000.