Allison Landa
Ground Broken on Cleveland Center
Developed by Merchandise Mart Properties Inc., a division of Vornado Realty Trust, the $465 million Medical Mart & Convention Center has already attracted commitments from a lengthy list of convention planners as well as businesses hoping to pre-lease space.
ORION Hires Pair of Principals
Mark Bennett and Mark McAdams, who combined bring more than 50 years to the commercial real estate brokerage firm, will focus on tenant representation.
Economy Watch: Homebuilders Still Blue
Builder confidence in the single-family housing market stayed unchanged at a sub-basement level of 16 for a third consecutive month in January, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index. An index of 50 or more means builder optimism. Sixteen means something else altogether.
Financing Closes for Bravern Office Commons
With the assistance of real estate services firm Holliday Fenoglio Fowler L.L.P., Principal Global Investors secured $205 million in financing for the acquisition of the 755,000-square-foot office component of the mixed-use The Bravern development in Bellevue, Wash.
Morgan Now Sole Owner of $1.5B Portfolio
The company facilitated the consolidation of interests via three separate transactions involving two different partners: AIG Global Real Estate Investment Corp., the real estate division of American International Group Inc., which still owes the federal government billions in bailout funds, and Berwind Property Group.
Gables Residential Partners with USAA
The partners plan to shell out $400 million to develop Class A apartment properties in key urban infill locations and for USAA to acquire a stake in several of Gables’ premier stabilized assets.
Schoenherr Joins Broadway Partners as CIO
Charles Schoenherr, a 25-year industry veteran, brings experience in originating equity and debt investments involving all property types.
Economy Watch: Consumers Laid Out Cash in December
The U.S. Department of Commerce reported that retail sales were up 0.6 percent in December compared with November, the sixth monthly uptick in a row. For the entire year of 2010, retail sales were up 6.7 percent compared with the previous year, the strongest annual gain since 1999.
HealthNow HQ Trades for $84.5M
The 430,500-square-foot office asset was snapped up by Cole Real Estate Investments from Duke Realty Corp., which had developed the two-building campus as a build-to-suit in 2008.