Private Equity
Bell Partners, which invests in and manages apartments, has closed its oversubscribed sixth apartment fund at $600 million. Bell Apartment Fund VI will invest in multifamily properties in the U.S. The fund's investors include institutional investors from across the globe as well as high-net-worth individuals. CBRE Capital Advisors was the placement agent.
3 min read · 19 June 2017
Jernigan Capital has closed a $10.8 million investment in a self-storage development project in Baltimore, Maryland. The project is a proposed multi-story climate-controlled facility that will be a conversion of a former textiles office and warehouse.
2 min read · 19 June 2017
Brookwood Financial Partners has sold three office buildings in Pennsylvania for over $22 million. Among the properties are 7360 Windsor Drive, an office building in Allentown and One Greenwood Square, an office building located in Bensalem. The buyers were not specified.
3 min read · 19 June 2017
Dallas-based Capview Partners, a real estate investment and fund management firm, has named Scott Brooks as managing director and head of client relations. Brooks' work background includes stints at SEI, Deutsche Asset Management, J.P. Morgan Asset Management, Managers Investment Group and OppenheimerFunds.
2 min read · 19 June 2017
KKR and Harvest Properties, a commercial real estate investment firm, have acquired 180 Grand Avenue, an office property in Oakland, California. The sellers were Ellis Partners and Artemis Real Estate Partners. No financial terms were disclosed.
3 min read · 19 June 2017
Westport Capital Partners LLC has agreed to acquire 2000 Corporate Ridge Road in Tysons Corner, Virginia. The seller was a special servicer that foreclosed on the office building in 2015. No financial terms were disclosed; although according to an announcement about the deal, Westport acquired the property at an approximate 70 percent discount on the price that the building sold for in 2006.
2 min read · 19 June 2017
Los Angeles-based Patch of Land, an online real estate lender, has secured a debt facility of up to $30 million from SF Capital. The financing will provide Patch of Land flexibility in funding loans and support its online crowdfunding platform.
3 min read · 19 June 2017
Harbor Associates and Stockbridge Capital Group have acquired 10281 W. Pico Blvd, a building in Century City, California that was the former headquarters for the Los Angeles Rams. The seller was a local entertainment company. No financial terms were disclosed. Harbor is planning to renovate the building in a project that will be renamed "Bespoke Century City."
3 min read · 16 June 2017
Two Miami-based companies Fortune International Group, a real estate developer and Rialto Capital Management, a real estate investment and asset management firm, have formed Vaster Capital, a private bridge lender that will specialize in residential and commercial real estate. According to the newly launched company, Vaster's mission will be to fill a void in the marketplace for South Florida real estate investors.
4 min read · 16 June 2017
Austin, Texas-based Summit Hotel Properties, a real estate investment trust, has closed its buy of the hotel Courtyard by Marriott Charlotte City Center. The price of the acquisition was $56.3 million. Summit Hotel Properties has also inked a management agreement with OTO Development LLC.
3 min read · 16 June 2017
