The four-story, 68,500 square-foot property is the largest facility for University Medicine, which operates nine other clinics throughout Rhode Island.
Preservation Partners added the 100% leased Headen House (136 units) and Huntington (204 units) Section 8 communities in St. Charles, MD to its portfolio.
A joint venture of Norwalk, CT-based Fuller Development and Spinnaker Real Estate Partners sold the 183-unit market rate apartment property to Friedkin, according to brokerage firm CBRE.
Institutional organizations, in particular, are increasingly investing in the Seattle area as the demand for last mile and centrally located properties pushes rents to record levels, such as the recently sold 3002 Lind Ave. SW.
The single user trend is likely to continue as McClellan Park breaks ground on McClellan Distribution Center to fill a void in the market for high clear-height buildings that can service e-commerce tenants.
The request proposes a walkable, mixed-use development that will include a mix of 900 condominiums, 500,000 square feet of new office space, 12,000 square feet of retail and nearly three acres of green space.
According to Austin's Strategic Housing Blueprint, the city will need 60,000 new housing units for low-income families, plus another 75,000 market-rate units to meet its housing needs in the next decade.