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SAN FRANCISCO AND REDMOND, WASH. — Kilroy Realty Corp. has acquired two office buildings for a total of approximately $237.5 million. The two buildings, located in San Francisco and Redmond, contains approximately 588,000 square feet. In the first deal, the REIT acquired 100 First Plaza in San Francisco for $191.5 million. The building is situated in the city's South Financial District. The building totals 466,000 square feet of space and is LEED-Gold certified. At the time of closing it was 94 percent leased and 76 percent occupied. Kilroy already owns another property in the submarket, a 731,972-square-foot office building located at 303 Second St. In the second deal, Kilroy acquired Overlake Office Center in Redmond for $46 million. The building, which is located immediately adjacent to Mircosoft's corporate headquarters, is also fully occupied by the software company through December 2014. According to published reports, the former property was purchased from Beacon Capital Partners and the latter was acquired from Proctor International. These two office properties are not the only large acquisition made by the REIT this year. In June, Kilroy purchased a 271,600-square-foot office building located at 2211 Michelson Drive in Irvine, Calif., for $103 million. Year to date, it …

FOREST CITY, N.C. — Facebook has announced plans to construct a new $450 million data center in Rutherford County. According to local reports, the social media giant paid $3.1 million to the county for 135 acres located just off of U.S. Highway 74 in Forest City, which is located about 65 miles west of Charlotte. The site is near a county-owned corporate park that caters to data centers. The groundbreaking took place Friday for the new facility, and construction is expected to take 18 months to complete. The project will create more than 250 construction jobs as well as 35 to 45 full-time and contract jobs once the data center is operational. The project is being designed to LEED-Gold standards. Its sustainable features include cooling and power management technologies that reduce electricity usage as well as efficient software that requires less computing power. Data centers are known as one of the heaviest commercial users of electricity. North Carolina Governor Bev Perdue stated in a prepared release that the state has been working with Facebook for approximately a year to bring together the land, utilities and, most importantly, incentives to make the deal possible. The governor's office did not release details …

PRINCETON, N.J. — CB Richard Ellis (CBRE) Realty Trust has acquired an approximately 1.85 million-square-foot industrial portfolio for $81.25 million. The portfolio includes six Class A bulk warehouse buildings located in major distribution markets across the country. The single- and multi-tenant properties were constructed between 1998 and 2002. The properties include: • Rickenbacker II, a 434,120-square-foot building located at 6440 Port Road in the Columbus, Ohio, suburb of Groveport. The building is approximately 47 percent leased to Excel Inc. • 4701 Gold Spike Drive, a 420,360-square-foot building located in Fort Worth, Texas. The building is fully leased to ConAgra Foods. • 3660 Deerpark Boulevard, a 321,500-square-foot building located in the Jacksonville, Fla., suburb of Elkton. The building is also fully leased to ConAgra. • Summit Distribution Center, a 275,080-square-foot building located at 720 Gladiola St. in Salt Lake City. The building is 90 percent leased to Cummins Filtration, Big O Development and Marko Product. • Tolleson Commerce Park II, a 217,422-square-foot building located at 5 S. 84th Ave. in Phoenix. The building is fully leased to Menlo Logistics, Docusafe of Phoenix and Weber Distribution. • 1985 International Way, a 189,400-square-foot building located in the Cincinnati suburb of Hebron, Ky. The …

GREENWOOD VILLAGE, COLO. — Holliday Fenoglio Fowler (HFF) has secured $87.8 million from Freddie Mac for the refinancing of a four-property multifamily portfolio. The borrower is Greenwood Village-based Laramar Group. The securitized loans carry 10-year terms with fixed interest rates in the low-to-mid 4 percent range. The portfolio contains a total of 1,363 units. The properties include Waterford Lakes Apartments, a 694-unit community located in Charlotte, N.C.; The Mont Clare at Harlem Avenue, a 281-unit community located in Harwood Heights, Ill.; Bay Park Luxury Apartment Homes, a 228-unit community located in Clearwater, Fla.; and Villa Oceana Luxury Waterfront, a 160-unit community located in Boca Raton, Fla. “The transaction allowed Laramar to execute its corporate strategy of paying down a floating-rate line of credit and replacing it with secured, long-term debt at incredibly low interest rates,” said Jay Marshall, senior managing director of HFF, in a statement. Marshall partnered with HFF's Elliott Throne and Matt Schoenfeldt to arrange the transaction. — Coleman Wood

MERRILLVILLE, IND., AND RICHMOND, VA. — White Lodging Services Corp. has sold a 16-hotel portfolio to Apple Real Estate Investment Trust Cos. (Apple REIT) for an undisclosed amount. The properties include: • Courtyard by Marriott – Chandler, Ariz.; • Fairfield Inn & Suites – Chandler, Ariz.; • Courtyard by Marriott – Phoenix; • Residence Inn – Phoenix; • Embassy Suites – Brandon, Fla.; • Hilton Garden Inn – Mettawa, Ill.; • Residence Inn – Mettawa, Ill.; • Hilton Garden Inn – Schaumburg, Ill.; • Hilton Garden Inn – Warrenville, Ill.; • Residence Inn – Mishawaka, Ind.; • Springhill Suites – Fishers, Ind.; • Hilton Garden Inn – Novi, Mich.; • Courtyard by Marriott – Austin, Texas; • Fairfield Inn & Suites – Austin, Texas; • Hilton Garden Inn – Austin, Texas; and • Springhill Suites – Salt Lake City. White Lodging will continue to manage the properties under long-term agreements With this acquisition, Apple REIT's portfolio increases to more than 240 hotels located nationwide. “The transaction with Apple REIT provides White Lodging with additional capital to continue executing our strategic growth plan at a time when many of our competitors are merely trying to stay afloat,” said Deno Yiankes, president …

WEST LAFAYETTE, IND., AND CHICAGO — West Lafayette-based student housing developer Trinitas Ventures and Chicago-based private equity firm Harrison Street Real Estate Capital have formed a $100 million joint venture for the purpose of developing and managing student housing properties. The joint venture will focus on urban infill locations near large schools located across the country that have high barriers to entry. “These types of sites are usually difficult to acquire, entitle and develop — we specialize in difficult,” said Trinitas COO Loren King in a statement. Concurrent with the announcement, the joint venture closed on the acquisition of two Trinitas-developed, Class A student housing properties in Indiana for $69 million. The first property is The Village at Muller Park, a 668-bed community located in Bloomington near Indiana University. The Class A community opened in fall 2008 and features residences in flat-style and townhome configurations. Amenities include a clubhouse with a fitness center, a business center, study rooms, a recreation room and a gaming center. It also has a micro spa and a swimming pool with a sundeck. The second property is 1201 Indiana, a 667-bed community currently under construction in Indianapolis. Upon completion, which is expected next August, the …

PHOENIX — Phoenix-based Cole Real Estate Investments has acquired a portfolio of 32 Albertsons grocery stores in a $266 million sale-leaseback transaction with the grocer. The properties contain a total of 1.9 million square feet of space and are located in Arizona, Colorado, Louisiana, New Mexico and Texas. All of the properties are subject to recently signed 20-year, triple-net leases that also contain extension options. Mark Manheimer of Cole provided in-house representation for his firm in the deal. Chris Hoffmann of Eastdil Secured represented Albertsons. “We are thrilled to execute a sale-leaseback transaction of this caliber and acquire such an attractive portfolio of assets, which are in line with our disciplined investment parameters — income-producing, core retail properties that are leased to nationally recognized, quality tenants under long-term, net leases,” said Kim Kundrak, chief acquisitions officer for Cole, in a statement. Year to date, Cole has acquired more than $1.8 billion in retail, office and industrial properties. — Coleman Wood

Todd Lillibridge, chairman and CEO of Lillibridge Healthcare Services, was the keynote speaker at the InterFace Medical Office, held yesterday in Atlanta. Lillibridge spoke about the effect of healthcare reform on medical facilities, and the overall recovery of the office market post-recession. “All hospitals and healthcare systems are preparing [for the effects of reform], but they don’t know what they are preparing for,” said Lillibridge. “They must take out the enormous cost structures that they have.” To do that, Lillibridge said, they need to redistribute their facilities and medical office space. New hospital construction with 200 to 400 beds will be a thing of the past, giving way to smaller hospitals with 60 to 80 beds that are surrounded by outpatient and acute care facilities. Occupancy in the medical office sector is facing short-term challenges from the consolidation among hospital systems. Physicians, also pressured with lowering costs, are looking for lower rents. With technology improving, some older medical office buildings are also becoming physically obsolete. Long term, there is huge growth ahead for the medical office sector, said Lillibridge. Cancer centers and cardiac centers are among the fastest growing areas of healthcare, and most are located in facilities adjacent to …

WOODBRIDGE, N.J. — Woodbridge-based The Kislak Company has completed three separate multifamily sales for a total of $52.9 million. The properties are located in Newark, Del.; Lindenwold, N.J.; and Pittsburgh. In the first transaction, Home Properties of Newark traded for $20 million. Constructed in 1968, the community is located at 146 Chestnut Crossing Drive in Newark. Its 19 garden-style buildings contain 432 units in a mix of studio through three-bedrooms. Kislak's Andrew Jonas handled the transaction. In the second transaction, Emerald Ridge Apartments traded for $13.5 million. Constructed in 1972, the property is located at 101 Gibbsboro Road in Lindenwold. It was foreclosed on by its lender in 2009 and subsequently renovated. Occupancy was approximately 75 percent at the time of closing. The property contains 28 two-story buildings with 376 one- and two-bedroom units. Kislak's Matt Weilheimer arranged the sale. Finally, Alcoma on the Green sold for $9.4 million. The 222-unit property is located at 225 Alcoma Blvd. in Pittsburgh. It consists of a tower built in 1975 and garden-style buildings constructed in 1977. It contains a mix of one- through three-bedroom residences. Amenities include a swimming pool, a fitness center, picnic areas and a playground. Robert Holland of Kisklak …