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CoStar’s People of Note (Aug. 26-Sept. 1)

This week’s People of Note includes the following markets: Boston, Chicago, New York City, Orange County and Seattle.

BOSTON
Rappaport, Zuker Form CHR Investors in Boston
By Laurie Forbes

Veteran brokers Jerome “Jerry” Rappaport Jr., Ed Zuker and his son Robert Zuker formed CHR Investors, a New England multifamily property investment firm based in Boston, MA. The company is an affiliate of Chestnut Hill Realty, a full-service develo

High-End Hotel Investment Sales Getting Hot Again After Six-Month Lull

After trading at a blistering pace last year, high-dollar hotel investment sales cooled off considerably in the first half of 2012. However, early third-quarter transaction activity suggests that lodging sales should finish the year on a strong note, according to CoStar sales data and comments from leading hospitality CEOs.

Total volume of sold hotel transactions valued at $25 million and above was $2.5 billion in the first six months of 2012…

As Tech Office Boom Rolls Into Third Year, Can Growth Maintain Impressive Pace?

After two years of job growth and strong revenues in the high-tech sector fueling equally strong growth in rental rates and declining vacancies in tech-oriented office markets across the U.S., the question some investors are asking is, can it last?

The tech sector has been a consistent bright spot in the economy even before the recession ended. Between 2009 and mid-2012, high-tech service jobs in the U.S. grew by 9.9%, while non-farm jobs grew…

Griffin-American Acquires MOB and Senior Care Portfolio for $103M

Griffin-American Healthcare REIT II has acquired a large portfolio of senior care and medical office facilities for an aggregate $103 million, just a week after Health Care REIT’s blockbuster agreement to acquire Sunrise Senior Living Inc. in an all-cash deal for nearly $1 billion.

The non-traded Griffin-American Healthcare REIT II acquired the 13-building senior care portfolio in Washington and Oregon along with seven medical office buildings…

NY Developer Pays $168M for Former Georgian Apts.

Pantzer Properties Inc., a New York-based development firm, acquired the 16-story apartment complex in Silver Spring, MD, formerly known as The Georgian from Stellar Management for $168 million, or about $188,764 per unit.

The newly named Point at Silver Spring delivered in 1968 and was renovated in 2006. The 891-unit property totals 900,795 square feet at 8750 Georgia Ave. and is managed by Panco Management of New York, according to CoStar information…

Archstone Buys Rockville Multifamily for $75.5M

Archstone, a Colorado-based developer, acquired the 20-story Archstone Grosvenor Tower in Rockville, MD, from Charleston, SC-based Greystar Real Estate Partners LLC for $75.5 million, or about $318,565 per unit.

The 237-unit apartment complex at 10301 Grosvenor Lane delivered in 1987 and was renovated in 2008. It totals 291,945 square feet and is managed by Archstone Grosvenor Tower, according to CoStar information. Grosvenor Place has units with…

State Farm Signs 291,469-SF Office Deal in DFW

Insurance company State Farm leased 291,469 square feet at Galatyn Park in Richardson, TX. Occupancy is scheduled for March of next year.

The seven-story, 291,469-square-foot office building at 1011 Galatyn Parkway was constructed in 2001 in the Dallas/Fort Worth submarket. CF Office Venture I LP is the owner.

Randy Cooper and Craig Wilson of Cassidy Turley represented State Farm. Sandie Matejek and Daryl Mullin of Jones Lang LaSalle represented…

Bed Bath & Beyond Warehouses Trade for $63 Million

American Realty Capital Trust III Inc., a real estate investment trust, completed its purchase of a 1.04 million-square-foot industrial portfolio in Stockton, CA, for nearly $63 million or $61 per square foot.

Retail Properties of America Inc. (NYSE: RPAI) was the seller. The shopping center REIT is formerly known as Inland Western Retail Real Estate Trust.

The assets included two 517,920-square-foot distribution centers at 3610 S. Airport…

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