Real Estate

Baceline Investments buys two shopping malls

Baceline Investments has acquired two shopping malls: Columbia Heights, Minnesota-based Central Plaza from Central Plaza Associates for $7.22 million; and Charlotte, North Carolina-based Galleria Village from Cohen Equities for $5.1 million. Based in Denver, Baceline is a private equity real estate investment firm with shopping center holdings throughout the Central U.S.

Capital Square 1031 buys Georgia multifamily property

Capital Square 1031 has acquired Lawrenceville, Georgia-based Fairway View Apartments, a 243-unit multifamily community. No financial terms were disclosed.

Canyon invests $21.1 mln in NYC luxury condo project

Canyon Partners Real Estate LLC has invested $21.1 million to finance the construction of luxury condos in Long Island City, a New York City neighborhood. CBSK Ironstate is the developer on this project with Planet Partners serving as co-developer. In addition to Canyon's investment, CBSK has secured $61.8 million in financing that was arranged by Maverick Capital Partners' Adi Chugh.

MACC Venture Partners buys Summer Chase Apartments

MACC Venture Partners has acquired North Myrtle Beach, South Carolina-based Summer Chase Apartments, a 168-unit garden apartment community. No financial terms were disclosed for the deal that was done in partnership with Legacy Capital Partners.

BRG acquires Cypress Creek property

Bluerock Residential Growth REIT Inc has acquired a majority stake in Houston-based Cypress Creek Apartments, an apartment property. BRG made an equity investment of $14.5 million while funding the remainder with a $26.2 million loan.

Noble buys Staybridge Suites-Tysons-McLean

Noble Investment Group has acquired McLean, Virginia-based Staybridge Suites Tysons-McLean, an extended stay hotel. No financial terms were disclosed.

Starwood Capital commits $250 mln to Yotel

Yotel said Sept. 26 that Starwood Capital Group has committed to invest $250 million for a 30 percent stake in the company. Yotel, a provider of affordable hotels, currently operates four airport hotels under the Yotelair brand in London Gatwick, London Heathrow, Amsterdam Schiphol and Paris, Charles de Gaulle airports; and three city hotels in New York, Boston and Singapore.

Canyon and CIT acquire Coronado Palms

Canyon Partners Real Estate LLC and CIT Bank have acquired the leasehold interest in Anaheim, California-based Coronado Palms, a 169-unit apartment community. The transaction was made via Canyon Multifamily Impact Fund III LLC, a joint venture between Canyon and CIT. CIT's real estate finance business provided a loan of about $25 million to finance the acquisition. FPI Management will serve as the property manager for Coronado Palms.

American Campus Communities to recap and buy seven student housing assets

American Campus Communities Inc has agreed to recapitalize and acquire seven student housing properties comprising 3,776 beds for a total of $590.6 million. The deal also includes an option to acquire a 248-bed property in Seattle. The sellers are Core Spaces and DRW Real Estate Investments.

KAREA completes Sentio Healthcare acquisition for $825 mln

Kayne Estate Advisors, the real estate private equity arm of Kayne Anderson Capital Advisors, has closed its previously announced acquisition of healthcare real estate investment trust Sentio Healthcare Properties Inc for $825 million. Sentio Healthcare was backed by KKR.