Second phase of massive Boston portfolio sells

Jones Lang LaSalle recently announced its client has closed on the sale of Phase 2 of a massive retail portfolio in the Boston, Mass., metro area.

Tedeschi Realty sold this phase to Denver-based Dividend Capital Total Realty Trust for a price of $48 million. Dividend Capital purchased Phase 1 last year for $329 million. The total cost of the 25-property, nearly 2 million-square-foot retail portfolio was $377 million.  more...

Ohio investors trade apartments

Richmond Park, a 736-unit multifamily community in Richmond Heights, Ohio, has traded for $25.6 million between private investors in the Cleveland area.

The sales price represents $34,838 per unit.

Located at 444 Richmond Park East, the 548,194-square-foot property comprises four six-story buildings and two parking garages situated on a 36.4-acre lot. The community is located adjacent to the Richmond Heights Community Park, which provides residents with tennis courts, jogging trails, pavilions, and baseball and soccer fields.  more...

Delaware deal tops $11M

Scarborough Park Apartments, a large multifamily community in Wilmington, Del., has to an out-of-state buyer for $11.2 million, or $71,795 per unit.

Pennsylvania-based Trinity Capital of Blue Bell purchased the 156-unit property from Frank Acierno in an attempt to "build its portfolio in the Delaware market," according to a press statement.

Located at 131 Scarborough Park Drive, the 129,626-square-foot community is situated on an approximately 8.9-acre lot.  more...