Deals and Projects

Angelo Gordon & Co. and Cambria Real Estate have acquired Glendale Financial Square for about $33 million from Delma Properties. The 122,358 sq. ft. Class-A property in Glendale, Calif., on 1.77 acres has a six-story office tower and attached two-story annex over a subterranean garage. Glendale Financial Square is adjacent to the Glendale Galleria mall. The property is 66% leased to tenants including Verizon, HealthCare Partners and the U.S. government.

Triple-Net Properties LLC has acquired Century Hills, a multifamily community in Augusta, Ga. for $21 million from Centennial Properties of Atlanta. Built in 1999, the 200-unit community is comprised of 24 three-story buildings on an approximately 17-acre lot. Century Hills offers one, two and three-bedroom units with such amenities as an executive business center, swimming pool, tennis courts, fitness center, and a car care center.

Alan Ojeda of the Rilea Group, a real estate and development company, has begun construction of the 1450 Brickell office tower in Miami with a $172.5 million finance package. The 35-story development is pre-leasing 588,191 sq. ft. of office and retail space with floor plans from 24,000 sq. ft. to 26,000 sq. ft. The building is scheduled to open in 2009 with 10 high-speed elevators, a sundeck garden, parking and manned security.

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