Real Estate

TA Reality sells logistics portfolio for $1.04 bln

TA Realty has sold a 96-property logistics portfolio for $1.04 billion in two separate deals. In one transaction, AEW Capital Management acquired the portfolio's 28 Texas-based properties while in another deal, Blackstone acquired the portfolio's 68 properties.

Burlington Capital to sell stake in AFCA 2 to Greystone

Burlington Capital has agreed to sell its stake in America First Capital Associates Limited Partnership Two to Greystone for $20 million in cash. AFCA 2 is the general partner of America First Multifamily Investors LP. The deal is expected to close in the third quarter of 2019.

NB Private Capital expands team with three new hires

California-based NB Private Capital LLC, a real estate firm specializing in student housing, has expanded its staff with three new hires. Mark Antoun is now corporate accounting manager; James Hogen has joined as senior vice president of asset management; and Christine Wu is senior accountant.

Hilton Grand Vacations is on the block: Reuters

Hilton Grand Vacations Inc is exploring strategic alternatives, including a potential sale following interest from private equity firms, Reuters reported. Hilton has hired an investment bank; preliminary bids are due in September, the story said.

PE-backed hotel firms Aimbridge and Interstate to merge

Aimbridge Hospitality, a hotel management firm and Interstate Hotels & Resorts, a multinational hotel operator, have agreed to merge. No financial terms were disclosed. Aimbridge is backed by Advent International while Interstate is owned by Kohlberg & Company. Goldman Sachs and Moelis & Company LLC provided financial advice to Interstate on the deal, which is expected to close by the end of the year.

Sortis Holdings provides $59.8 mln for senior living development

Sortis Holdings provides $59.8 million in funding for an opportunity zone project in Tukwila, Washington. The project will be a mixed-income senior living development.

Residently inks funding

Residently, a proptech startup digitizing the rental experience, has secured 7 million pounds in funding, according to a blog post on its site. The investors included Felix Capital, LocalGlobe and A/O PropTech.

Kilroy Realty's life science EVP quits

Tracy Murphy, executive vice president of life science at Kilroy Realty Corporation, has resigned. Murphy first joined the company in 2016 and is leaving to "pursue other opportunities."

Kilroy Realty's chief investment officer departs

Steve Rosetta, executive vice president and chief investment officer of Kilroy Realty Corporation, is leaving the company. Jonathan Praw, senior vice president, investments, has been promoted to SVP, chief investment officer. Prior to joining the conpany, Praw was senior vice president at Equus Capital Partners.

Eastdil Secured hires two managing directors

Eastdil Secured LLC, a real estate investment banking firm, has hired J. Philip Brosseau, Jr. and Ryan Reid as managing directors. Both Brosseau and Reid previously worked at CBRE.