Alex Girda
Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.
Market Snapshot: Let’s Go Shopping in LA
Los Angeles is taking baby steps toward retail recovery.
Market Snapshot: Los Angeles Shines Bright–and Not Because of the ‘Stars’
Los Angeles seems to be very much in tune with larger national expectations in 2015.
Seattle, Portland Experience Major Home Price Growth
The Pacific Northwest has seen its real estate market soar over the past few years with good employment numbers and development driving the two major cities anchoring the area: Seattle and Portland. The housing market is now experiencing growth in both cities, with home prices soaring over the past few quarters.
Market Snapshot: I Love LA!
The Los Angeles office market has boldly gone where it’s never gone before.
Campaign to Land NHL Team Heats Up
With the Las Vegas Arena project hitting major development milestones recently, discussions of a major sports franchise appearing in Las Vegas are intensifying. After talk of a new MLS franchise coming to the city essentially hit a speedbump, the NHL is the new major sports league targeted by local entrepreneurs.
Apartment Complex Trades Hands Near Nike World HQ, Intel Campus
A joint venture between PCCP, LLC and Security Properties recently completed the acquisition of a Beaverton, OR multifamily asset. The purchase was made through Security’s Security Properties Multifamily Fund II, for a total of $39 million. The acquisition is part of a recent shopping spree completed by Security, with eight assets being purchased recently.
SoMa Hotel Gets New Owner, Name in $350M Deal
The Westin Market Street hotel in San Francisco recently traded hands, as LaSalle Hotel Properties purchased the property in a deal worth $350 million. The buyer used cash on hand and borrowings from its senior unsecured credit facility in order to fund the acquisition of the hospitality property. Upon closing, the Westin Market Street was renamed by the new owner as Park Central San Francisco. The deal will not affect the current management contract, with Highgate Hotels set to continue to handle asset management duties as an independent hotel on behalf of the new owner.
UCSD Picks Contractor for La Jolla Project
General contractor Rudolph and Sletten Inc. was recently awarded an important preliminary contract for the development of a medical facility for UC San Diego Health Services in La Jolla. The company is now set to start work on an outpatient pavilion, with the contract set at around $78 million, and expected to be booked during Q3 of this year. The facility that Rudolph and Sletten Inc. is set to construct will act as support for the Jacobs Medical Center.
BH Properties Buys Addison Complex, Plans Makeover
A Las Vegas commercial property was recently acquired by a Los Angeles-based real estate investment company that plans on repositioning it and adding value. BH Properties acquired the Addison Complex facility for a fee of $2.8 million, from seller VanMeetren Family Limited Partnership. BH Properties worked with David Frear, Senior Vice President of Colliers International during the transaction, while the VanMeetren Family Limited Partnership was represented by Charlie Mack, a president and broker with Mack Realty.
MetLife Acquires First Allied Plaza for $150M
MetLife Inc. has recently completed the acquisition of a downtown San Diego office tower for a reported purchase fee of $156.8 million. The San Francisco office of the insurance giant is now the new owner of First Allied Plaza in San Diego, after it acquired the property from seller Lone Star Real Estate Funds, a Dallas-based company. The transaction was completed with the help of brokerage Eastdil Secured LLC, who represented the seller.