Acquisition of the Week

In a joint-venture partnership, MRP Realty, Snell Properties and SJG Properties have acquired a 270,660-s.f. Class A office building in Washington, D.C., for an estimated $20.87M, according to the Washington Business Journal. MRP Realty will manage the asset. More

Situated in two of Houston’s most supply-constrained submarkets, the portfolio includes 44 units across seven buildings and is 87% occupied by a diverse mix of tenants. Together, the two properties — intended for light industrial use — total 193,819 s.f. of space and were acquired at a 42% discount to replacement cost.  More

Equality Community Housing Corporation sold Haverstock Hills Apartments, a 700-unit affordable housing community in Houston’s East Aldine neighborhood, to Fairstead for $242M. That amount includes acquisition and planned rehabilitation. More

Core Acquisitions, a Chicago-based commercial real estate owner, operator and developer, has acquired Green Bay Plaza, a 232,796-s.f. shopping center from Anenberg Asset Management of Newport Beach, Calif., for $25.35M. More

Promontory Development Group, a private developer in the Sacramento area, sold a newly constructed, single-tenant, net-leased ARCO ampm in Stockton to a private investor from Sonoma County, Calif., for $10.2M. More

BKM Capital Partners purchased a three-property industrial portfolio totaling 200,300 s.f. in Dallas/Fort Worth and Houston for $27.5M. The deal, completed at a 43% discount to replacement cost, strengthens BKM’s position as a national leader in the small-bay industrial sector. More

Intercontinental Real Estate Corp. and LaTerra Development have acquired EZ Access Self Storage, a 100,000-s.f. facility in Santa Clarita, Calif., from a local investor for $27M. The property, at 23715 Carl Court, marks Intercontinental’s entry into the self-storage sector. More

Liger Crossing LLC has acquired a 4-acre development site in Paramus for $4M, with plans for a mixed-use project that includes a 40-unit townhome development and an office building. The property, located at 143 West Ridgewood Avenue, was sold by a private, multigenerational owner. More

Baptist Health South Florida sold a 6.63-acre industrial development site at 14100 SW 136th St. in Miami to Hamilton Development Company for $12.29M. The parcel is zoned IU-C, allowing for industrial, office, hospitality and automotive usage. Property: 6.63-acre development site in Miami Price: $12.29M Seller: Baptist Health South Florida Buyer: Hamilton Development Company Designed for flexibility, the site More

A private developer in San Diego County sold a newly renovated, single-tenant, net-leased Grocery Outlet in Blue Jay, Calif. — the gateway to the Lake Arrowhead resort area — to a private investor in Los Angeles for $6.05M. More

Veeder Hospitality Associates LLC sold Courtyard Billings — a four-story, 137-room hotel serving both leisure and business travelers — to InterMountain Management for $30M, plus $500K for a liquor license. More