Milestone Apartments Real Estate Investment Trust is investing $50 million in the Milestone Real Estate Investors IV LP, a private discretionary equity fund meant to target value-added multifamily properties. The company says its investment should not exceed 20% of the fund's aggregate capital commitments but will allow the company to add to its property acquisition pipeline.
Acadia Realty Trust has reportedly signed a contract to acquire a 3,000-square-foot ground-floor retail co-op in New York City's Soho neighborhood for $50 million. In a separate transaction, the REIT recently partnered in the acquisition of Eden Square, a 235,508-square-foot retail center in Bear, Del.
Piedmont Office Realty Trust has sold a Houston office for $48.75 million to Griffin Capital. Griffin acquired the 149,683-square-foot building, which is 100% leased, on behalf of Griffin Capital Essential Asset REIT.