Grosvenor Americas has acquired the 195-unit Carlmont Woods Apartments in Belmont, CA, an affluent suburb within the San Francisco Bay Peninsula. Renovations are planned.
Washington Property Company (WPC) leased a total of 80,489 square feet in its suburban Washington, DC office portfolio during the first half of 2013. This total included over 47,000 SF at 8757 Georgia Avenue in the urban core of Silver Spring, MD.
Lubert-Adler of Philadelphia, PA has sold two hotels comprising 647 keys to New York City-based Carey Watermark Investors for a total of $156.6 million. The most recent sale, which closed August 13, was the 400-room Marriott Raleigh (NC) City Center, which was sold for $83 million. The 248-key Hutton hotel in Nashville, TN sold earlier this summer for $74.3 million, setting a record sale price of roughly $300,000 per key for the Nashville hotel market.