Kenedix Realty Investment and Kenedix Residential Investment plan to establish an open-ended unlisted privately placed REIT in March. The REIT will invest in the office, commercial facility and hotel sectors.
Multi-Employer Properties Trust has sold Burlington Centre in Burlington, Mass., for $109 million. The buyers of the 47-acre master-planned office campus are a joint venture of the Davis Cos. and Principal Real Estate Investors.
Corvex Management and Related Cos. increased their holdings in CommonWealth REIT after they were unable to prevent the REIT's stock offering last week. The two shareholders acquired about 1.9 million shares and now own a total of 8.5% of the REIT.