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SAN DIEGO — Kilroy Realty Corp. (NYSE: KRC), a publicly traded real estate investment trust (REIT) based in Los Angeles, has closed the $258 million sale of four office campuses totaling nine buildings and 933,134 square feet in San Diego. The properties were 83 percent leased at the time of sale. The buyer was John Hancock, the U.S. division of Manulife Financial Corp. (NYSE: MFC), a global life insurance company and real estate investor. The office portfolio consists of Sequence Technology Center at 6260, 6290, 6310, 6340 and 6350 Sequence Drive; Scripps Wateridge at 10770 Wateridge Circle; Sorrento Gateway at 4921 Directors Place; and Governor Pointe at 6200 and 6220 Greenwich Drive. The assets sold in separate transactions. “The sales prices in these transactions reflect strong investor demand for well-located, high-quality properties,” says John Kilroy, chairman, president and CEO of Kilroy Realty. The portfolio comprises two- and three-story office buildings located in central San Diego’s Sorrento Mesa and Governor Park office submarkets. Two of the nine buildings were vacant as of July, and the remaining seven buildings were leased to tenants in technology-based industries. Nick Psyllos, Ryan Gallagher, Michael Leggett and Nick Frasco of HFF marketed the portfolio on behalf …

MINOT, N.D. — Investors Real Estate Trust (NYSE: IRET) has closed on the sale of 34 commercial office properties for $250 million, netting the company $129 million in cash. The closing was the first of several portfolio sales the company anticipates will occur in its fiscal 2016 second quarter, which began Aug. 1. IRET previously announced it is divesting of its office and retail portfolios with the objective of focusing its portfolio strategy. Proceeds from the first sale will be reinvested in several projects including acquiring a $56 million multifamily property, commencing construction on a $31.5 million multifamily development and paying down $66 million on the company’s line of credit. “We are excited to be able to fully deploy our energy and focus on growing our multifamily segment,” says Tim Mihalick, CEO of IRET. “We see an excellent opportunity to be a best-in-class owner operator in this property segment.” Acquisitions/Developments: IRET has signed a purchase agreement for a 276-unit multifamily community in Rochester, Minn., for $56 million. The Class A townhome-style property will add to the company’s portfolio in the market. The company also will commence construction on a 202-unit Class A apartment community in a suburban market in Minneapolis. Share …

WASHINGTON, D.C. — A joint venture comprising The JBG Cos. and CBRE Global Investment Partners has purchased Trilogy NoMa, a 603-unit, five-story apartment building in Washington’s NoMa (North of Massachusetts Avenue) neighborhood, for a reported $213 million. The purchase price equates to approximately $253,000 per unit. The transaction closed on July 31, according to the Washington Business Journal. The seller of the property, Mill Creek Residential Trust, retained HFF to market the project last year. Former HFF brokers Dave Nachison, Alan Davis, Brenden Flood, Tim Stanton and Bret Thompson, now with Eastdil Secured, represented Mill Creek in the sale. Mill Creek and Berkshire Property Advisors developed Trilogy NoMa in 2012. JBG and CBRE Global formed the joint venture late last year to invest approximately $250 million in equity, which they hope to leverage to acquire $500 million in office, retail and multifamily properties. The entity’s first acquisition was The Foundry in Washington’s Georgetown neighborhood, which it purchased for $79.5 million. Amenities at Trilogy NoMa include a movie room with a 110-inch screen and theater seating. The JBG Cos. is an investor, owner, developer and manager of real estate properties in the Washington metropolitan area. CBRE Global Investors is an independently operated …

PITTSBURGH — ECHO Realty has purchased a portfolio of eight Harris Teeter- and Publix-anchored shopping centers in the Southeast for $125 million. The assets span more than 500,000 square feet. “We are very excited to have the opportunity to add these high-quality, grocery-anchored centers to our portfolio,” says Tom Karet, CEO of ECHO Realty. “The centers fit perfectly with ECHO’s strategy of acquiring well-located centers anchored by the No. 1 or 2 grocer in the market.” The portfolio comprises four Harris Teeter-anchored shopping centers in North Carolina, including Beau Rivage Marketplace in Wilmington, The Shoppes at Highland Creek in Charlotte, The Village at Byers Creek in Mooresville and a freestanding Harris Teeter on Croatan Highway in Kill Devil Hills. The other properties in the portfolio include two Publix-anchored properties in Florida: Partin Village in Kissimmee and Shoppes at Price Crossing in North Port; a freestanding Harris Teeter on Baltic Avenue in Virginia Beach; and one Publix-anchored property in Georgia: Riverwood Town Center in Evans. ECHO Realty is a privately held developer, owner and operator of commercial real estate. The company is headquartered in Pittsburgh with offices in Indianapolis and Washington, D.C. ECHO Realty’s portfolio consists of 190 properties totaling more …

CHICAGO — GLP, a global provider of logistics facilities, has entered into an agreement to acquire a $4.6 billion logistics portfolio from Industrial Income Trust (IIT). GLP intends to place the portfolio in its fund management platform. The portfolio comprises 58 million square feet of in-fill logistics assets spread across 20 major markets. The largest markets include Los Angeles, Washington D.C. and Pennsylvania. The portfolio was 93 percent leased as of June 30, with a weighted average lease expiry of nearly 5.5 years. GLP is focused on increasing the lease ratio to 95 percent. GLP expects to own 100 percent of the portfolio upon closing by Nov. 16 and pare down its stake to 10 percent by April 2016. The portfolio will be acquired at a 5.6 percent cap rate. GLP’s target 10 percent equity stake of $190 million is expected to generate significant returns within the first year of investment, which includes the company’s share of operating results and fund management fees. “This is an accretive opportunity for GLP that allows us to strengthen our U.S. market presence and growth prospects with minimal incremental overhead,” says Ming Mei, CEO of GLP. “The fund management platform is one of GLP’s main …

BIRMINGHAM, ALA. — Medical Properties Trust Inc. (NYSE: MPW) has entered into a definitive agreement to acquire real estate and operations of Capella Holdings Inc. (Capella), a privately owned hospital company headquartered in Franklin, Tenn., for $900 million. The $900 million total value of the transactions comprises a $600 million investment in Capella’s real estate, including the acquisition of seven hospitals, and an approximate $300 million investment in Capella’s operating entities, which is expected to be owned jointly by Birmingham, Ala.-based MPT and Capella management. “The acquisition of Capella, which in a single stroke accretively increases our portfolio of high-quality hospital real estate by nearly 20 percent, is simply the next step along our track record of creating strong double-digit growth,” says Edward Aldag Jr., chairman, president and CEO of MPT. With the acquisition, MPT will be adding to its acute care portfolio seven hospitals located in five states, with an aggregate 1,169 beds and more than 2 million square feet. MPT’s interest in the hospitals will be subject to sale-leaseback and mortgage loan arrangements. Following the acquisition, acute care facilities as a percentage of MPT’s portfolio will increase to 62 percent globally and 74 percent in the United States. …