Monday, April 22, 2013

PREI Pays $185M for Sabadell Financial Ctr

National Commercial Real Estate News From CoStar Group

PREI Pays $185M for Sabadell Financial Ctr

Prudential Real Estate Investors, on behalf of investors in Prudential Financial, Inc.'s (NYSE: PRU) flagship fund, has acquired the Sabadell Financial Center at 1111 Brickell Ave. in Miami, FL for $185 million, or about $354 per square foot, from Testa American Real Estate Corporation, an affiliate of Spanish-based Testa Inmuebles en Renta SA.

The 30-story, 522,892-square-foot, class A office tower was built in 2000 on 1.8 acres in the esteemed...

Inland Pays $80M for Residence Inn by Marriott Denver

The Residence Inn by Marriott Denver City Center in Denver, CO, changed hands. Inland American Lodging Group, a subsidiary of Inland American Real Estate Trust, purchased the asset from Chai LLC for $80 million or $350,877 per key.

The 14-story, 228-room hospitality property is at 1725 Champa St. in the central business district. It has 1,740 square feet of meeting space as well as a 448-space parking garage within the building, which was included...

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