East Coast joint venture completes first deals

Ashforth Paradigm Capital Advisors (APCA) acquired Boston Sports Club facilities in Lexington and Franklin, Mass., as the company's first investments.

The total value of the transactions was $10.3 million.  more...

Multifamily REIT dumps Charlotte apartments

The Town and Country Trust sold Forest Ridge Apartments in Charlotte, N.C.

The transaction was valued at $14.5 million.

The 330-unit community was built in 1988 and was originally acquired by the company in March 1998.

The buyer's identity was not disclosed.

The Town and Country Trust is a multifamily real estate investment trust that owns and operates apartment communities in the Mid-Atlantic and Florida.

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California grocery center changes hands

Faris Lee Investments negotiated the sale of Euclid Plaza, a 131,849-square-foot grocery-anchored retail center in Anaheim, Calif.

The value of the transaction was $27.5 million.

Euclid Plaza, located at 621 N. Euclid St., was built in 1961 and renovated in 1988 and 2003. The grocery-anchored retail center boasted a 94 percent occupancy rate at the time of sale with 28 tenants, including 99 Ranch Market, Starbucks, Quizno's, Minuteman Press, H & R Block, Re/MAX, and Cingular Wireless.  more...