Chicago-based Walton Street Capital has purchased Velocity in the Gulch for $37.5 million. As yet, we don't know what WSC has in store for the residential building, which is home to both owner-occupied and renter-occupied units and which opened as a condo building with retail on the ground-level floor. In fact, we don't know much about Walton Street Capital's property holdings, as the private real estate investment company's website offers no portfolio section.

But here is what we do know based on Google searches: Walton Street — with a home office on Michigan Avenue along the swanky Magnificent Mile — has deep pockets. Of note, and in addition to its impressive portfolio in Chicago, the company has owned, or owns, high-profile real estate in Atlanta, Austin, Charlotte, Palm Beach, Fla., Scottsdale, Ariz., Seattle, Tampa and Mexico (in which it operates an office). The company has teamed with Tampa-based Landeavor LLC on various property purchases.

Not surprisingly given its status, WSC has made headlines. In 2007, WSC created a eye-popping $2.5 billion investment fund. And in 2011, the company was hit with a class-action lawsuit (read here) regarding daily fees at its exclusive PGA National Resort & Spa in South Florida.

Walton Street is led, in part, by Managing Partner Neil Bluhm, who, according to Forbes.com, hosted President Barack Obama's 49th birthday bash and is estimated to be worth more than $2 billion.

In short, a major player has entered the Nashville real estate market.

Taubman Centers Inc. announced Thursday the completion of its $560 million purchase of The Mall at Green Hills and California-based The Gardens on El Paseo and El Paseo Village from Davis Street Properties.

The transactions consist of the assumption of $206 million of debt, $281 million in installment notes and the balance in 1.3 million partnership units in The Taubman Realty Group LP.

"These transactions crown a year of progress on our external growth initiatives," Robert S. Taubman, chairman, president and chief executive officer, said in a release. "With the addition of these assets, we've enhanced both the quality of our portfolio and its anticipated growth rate."

Taubman is based in Bloomfield Hills, Mich.

Vanguard Health Systems and Detroit Medical Center have donated a building to a local clinic, preventing the nonprofit Detroit Community Health Connection from having to pay property taxes on the building. The local story is here.