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FORT LAUDERDALE, WEST PALM BEACH AND ORLANDO, FLA. — Harbor Group International (HGI) has acquired a three-property multifamily portfolio totaling 1,218 units for $99.7 million. “The acquisition of the portfolio reflects HGI’s strategic decision to expand our investment and operational presence in major Florida markets,” says Richard Litton Jr., president of HGI. The portfolio includes the 302-unit Serramar in Fort Lauderdale, the 444-unit Turtle Cove in West Palm Beach and the 472-unit Island Club in Orlando. CBRE Group represented the seller of the portfolio. HGI plans to invest $4.9 million, approximately $4,000 per unit, for various exterior and interior upgrades. “All three of the assets are located in stable, high-traffic submarkets and are well-positioned to benefit from improving apartment fundamentals in South Florida and Orlando, particularly upon completion of our capital improvement program,” Litton says. According to Marcus & Millichap, vacancy rates in the first quarter of 2012 were down from the prior quarter in all three cities. In Orlando, vacancy declined 30 basis points in the first quarter to 6.4 percent. Vacancy also fell 30 basis points in West Palm Beach, bringing the vacancy rate to 6.3 percent. Fort Lauderdale experienced the largest change with a 40 basis point …

NORTHBROOK, ILL. — The Boulder Group, a Northbrook-based net lease investment brokerage firm, has arranged the sale of a portfolio of nine East Coast Walgreens stores for $68.7 million. The buyer is a Midwest-based institutional investor that acquires core, net leased assets. “This portfolio represented a rare opportunity for an investor to acquire a large portfolio of long-term, triple-net leased Walgreens properties and we were able to achieve a sale price within one percent of the asking price,” says Randy Blankstein, president of The Boulder Group. Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private investment company, in the transaction. The buyer was self-represented. The portfolio of nine Walgreens properties include the following: • 980 Farmington Ave.; Berlin, Conn. (Hartford MSA) • 1036 W. Main St.; Branford, Conn. • 880 N. Montello St.; Brockton, Mass. (Boston MSA) • 1 Glenwood Ave.; Dover, N.H. • 17 Crystal Ave.; Derry, N.H. • 897 Main St.; Melrose, Mass. (Boston MSA) • 20 W. Kings Highway; Mount Ephraim, N.J. (Philadelphia MSA) • 1131 U.S. Highway 46; Ledgewood, N.J. (New York MSA) • 500 Egg Harbor Road; Sewell, N.J. (Philadelphia MSA) The recently sold portfolio of nine Walgreens stores are located …

NEW YORK CITY — Starwood Capital Group has acquired the 571,667-square-foot 1372 Broadway, a retail and office building located at the intersection of 37th Street and Broadway in midtown Manhattan, from BLDG Management for an undisclosed price. “We are pleased to complete our second deal with BLDG within the past couple of years,” says Chris Graham, managing director of acquisitions at Starwood. “We believe this is an exceptional investment due to its high double-digit, cash-on-cash returns on our fund equity over our anticipated hold period, supported by the length of the leases and credit of its tenants.” The 21-story building is fully leased, and contains retail space on the ground and mezzanine levels. The property was purchased on behalf of Starwood Distressed Opportunity Fund IX, which raised $1.2 billion in its first round of marketing. Starwood plans to raise between $2 billion and $3 billion for the fund. “We are excited to purchase a strong rent roll in one of the best office markets with rents close to market lows at a significant discount to replacement cost,” says Marcos Alvarado, senior vice president at Starwood. “The investment represented an excellent risk-adjusted return for our investor partners as we anticipate receiving …

SAN FRANCISCO — Union Investment has purchased a 556,319-square-foot office tower, located at 555 Mission St. in San Francisco, from Tishman Speyer for $446.5 million. The 33-story building has earned LEED Gold certified. “In addition to the compelling quality of the building itself, 555 Mission St.’s location in one of North America’s strongest economic regions makes it a particularly sustainable investment for us,” says Volker Noack, member of the management team at Hamburg-based Union Investments Real Estate GmbH. The property was purchased on behalf of the open-ended real estate fund Unilmmo: Europa, and is 88 percent leased to 12 tenants including anchor tenant Deloitte, an international consulting firm. Kohn Pederson Fox designed the property. According to Colliers International, Class A buildings in San Francisco experienced positive absorption of 414,373 square feet in the first quarter of 2012. 555 Mission St. sits in the city’s Financial District, which is known to attract companies from the creative and technology industries “The impressively dynamic development of the submarket should see 555 Mission St. benefiting from rising rents,” Noack adds. Overall weighted average rents for the Financial District in the first quarter of 2012 were $49.65 per square foot, up from $43.56 in the …

BETHESDA, MD. — Walker & Dunlop (NYSE: WD) has agreed to purchase lender CWCapital for $220 million. The combination creates one of the largest commercial real estate lenders in the U.S. with $7.7 billion of loan originations in 2011. The acquisition also makes Walker & Dunlop the second largest multifamily lender nationally. The servicing portfolio of the combined entity exceeds $33.7 billion, according to Walker & Dunlop. The purchase price will include $80 million in cash and about $140 million in Walker & Dunlop stock. The price is subject to potential adjustment based on the company's stock price pending closing. “CWCapital is an exceptional company with an outstanding team and corporate culture very similar to Walker & Dunlop's,” says Willy Walker, chairman, president and CEO of Walker & Dunlop. “CW's people, credit discipline and client focus are highly regarded throughout the industry. It's a wonderful accomplishment to bring these two fantastic companies together and create a true industry force.” Based in Bethesda, Walker & Dunlop originates and sells a range of multifamily and other commercial real estate financing products. After the deal closes CW Financial will become Walker & Dunlop's largest shareholder. Michael Berman, CEO of Needham, Mass.-based CWCapital, will …

WASHINGTON, D.C. — Fannie Mae, through its board of directors, has announced the appointment of Timothy J. Mayopoulos, 53, as president and CEO of Fannie Mae, effective June 18, 2012. Mayopoulos currently serves as the agency's executive vice president, chief administrative officer and general counsel. Since joining Fannie Mae's executive management team three years ago, Mayopoulos has played a key role in rebuilding the company. His promotion follows an extensive searching involving both internal and external candidates. “Our thorough and thoughtful evaluation of qualified and interested candidates focused on a singular goal — to secure the best leader for Fannie Mae,” says Philip Laskawy, chairman of the board. “We achieved our goal by selecting Tim. He is an experienced and effective leader on a remarkable management team that has stabilized the company and positioned Fannie Mae to return value to taxpayers in the years ahead. Tim delivers a combination of proven leadership and execution focus. His deep understanding of the unique challenges Fannie Mae is facing and his effective working relationships with our regulator, management, the board, and external partners will serve the company and industry well. Tim's appointment enables the company to sustain its rebuilding efforts and to accelerate …

WASHINGTON, D.C. — Fannie Mae, through its board of directors, has announced the appointment of Timothy J. Mayopoulos, 53, as president and CEO of Fannie Mae, effective June 18, 2012. Mayopoulos currently serves as the agency's executive vice president, chief administrative officer and general counsel. Since joining Fannie Mae's executive management team three years ago, Mayopoulos has played a key role in rebuilding the company. His promotion follows an extensive searching involving both internal and external candidates. “Our thorough and thoughtful evaluation of qualified and interested candidates focused on a singular goal — to secure the best leader for Fannie Mae,” says Philip Laskawy, chairman of the board. “We achieved our goal by selecting Tim. He is an experienced and effective leader on a remarkable management team that has stabilized the company and positioned Fannie Mae to return value to taxpayers in the years ahead. Tim delivers a combination of proven leadership and execution focus. His deep understanding of the unique challenges Fannie Mae is facing and his effective working relationships with our regulator, management, the board, and external partners will serve the company and industry well. Tim's appointment enables the company to sustain its rebuilding efforts and to accelerate …

CHARLOTTE, N.C. — Parkway Properties (NYSE: PKY) has closed on the acquisition of the 972,000-square-foot Hearst Tower, an office building located in Charlotte’s CBD. Additionally, the company has received a $200 million equity investment by TPG, a leading global private investment firm. “We are pleased to have completed these important steps in the evolution of Parkway as we continue to position ourselves for long-term growth,” says Jim Heistand, president and CEO of Orlando, Florida-based Parkway. “We remain firmly committed to improving operations and cash flow, and on pursuing new acquisitions to grow the company.” The 46-story office tower is 94 percent leased, and tenants include Bank of America, which signed a new lease for 322,000 square feet in the building. The property is expected to generate cash net operating income of approximately $17.5 million during the first year of the company’s ownership period. “Parkway’s high-quality office portfolio, which is concentrated in attractive Sunbelt markets, provides a unique investment opportunity,” says Avi Banyasz, partner at TPG. “Hearst Tower is a great example of the type of investments Parkway’s talented management team will seek to identify and secure in the future.” The acquisition was financed with the money received from TPG, as …

SAN FRANCISCO — Los Angeles-based Hudson Pacific Properties Inc. (NYSE:HPP) has completed the $90 million acquisition of 901 Market Street, a mixed-use property located at the intersection of San Francisco’s Union Square and South of Market submarkets. The 212,000-square-foot historic building consists of 149,000 square feet of office space and 63,000 square feet of ground floor and lower level retail space. The purchase price comes out to be approximately $425 per square foot. “We are very pleased to close the acquisition of the 901 Market Street property,” said Victor Coleman, chairman and CEO of Hudson Pacific. “901 Market Street is a great complement to our San Francisco portfolio and represents a tremendous opportunity to reposition a property in one of the best locations and best markets in the country.” The property, a former Hale Department Store building, is located adjacent to the Westfield San Francisco Shopping Centre and Union Square BART entrance. It is currently 62 percent leased to a diverse tenant base. The seller was CFRI/Urban 901 Market LLC. The San Francisco market is considered a marquee arena for commercial real estate activity and development. ULI and Pricewaterhouse Coopers named San Francisco the third best market in the U.S. …

SEATTLE — Kilroy Realty Corp. (NYSE: KRC) has acquired two office properties in the Lake Union submarket of Seattle and has entered into an agreement to purchase a Bellevue office tower in the third quarter. Combined, the three separate transactions total $330 million. “Seattle’s Bellevue, Eastside and Lake Union submarkets present a compelling set of characteristics that KRC looks for in its real estate portfolio,” says John Kilroy Jr., president and CEO of KRC. “These include an economically vibrant core, a unique coastal locations, a quality of life valued by fast-growing, knowledge-based businesses and their employees, and a regional approach to development that effectively limits supply.” In Lake Union, the company purchased three-building Fremont Lake Union Center and Fremont Lake View, a 420,000-square-foot office campus, for $145 million. The property is fully leased, and tenants include Adobe Inc., Tableau Software and Ubermind. KRC assumed approximately $34 million of debt as part of the acquisiton. In downtown Bellevue, KRC is in escrow to acquire the 417,000-square-foot Skyline Tower, a Class A office building, for $186 million. The transaction is expected to close during the third quarter. The 42-story tower is certified LEED Silver, and is 92 percent leased. Tenants include Expedia …