Allison Landa
Pinnacle Reels In 645-Unit Seattle-Area Apartment Property for $110M
The Pinnacle Family of Companies joined forces with a public pension fund represented by real estate investment management firm CS Capital Management Inc. of Los Angeles to acquire the asset from Seattle-headquartered Security Properties Inc.
Winthrop, Pershing to Appeal Stuy-Town Foreclosure Injunction
Winthrop Realty Trust and Pershing Square Capital Management L.P. have invested a respective $10.5 million and $36 million in Manhattan’s biggest rental complex.
Crocker Leases 34,000 SF at Boca’s Mizner Park
Leasing activity is brisk at the Mizner Park Office Tower and Plaza Real Offices in downtown Boca Raton.
Economy Watch: High, Steady Foreclosure Rate the New Normal
One in every 381 U.S. housing units received a foreclosure filing during the month of August.
Downtown L.A.’s Union Bank Plaza Fetches a Whopping $332 PSF
The unencumbered 637,300-square-foot office tower did not come cheap.
Turner Tapped to Build New $153M Mixed-Use Public Library in San Diego
The City of San Diego has made its choice.
Hyundai Sticks with its California Stomping Ground for New $150M North American HQ
After shopping around for other locales to accommodate a bigger and better facility, the company has announced that it will stay put.
Economy Watch: Mortgage Walk Away? No Way
Is it right to walk away from a seriously underwater mortgage? According to a survey released by the Pew Research Center, a majority of those surveyed–59 percent–think not, deeming it “unacceptable.”
Are We There Yet? Real Estate’s Next Leverage Problem
By Bob Dougherty, Buchanan Street Partners:
A tidal wave approaches in the form of an estimated $1.2 trillion of United States commercial mortgages that are scheduled to mature between 2011 and 2014. Surviving this tsunami of debt is a test that many feel will threaten any budding real estate recovery and may send property values tumbling again, proving the current respite to be not an oasis but a mirage. This is the bogeyman that haunts industry watchers and participants alike.
COPT Grabs Data Center in Coveted Northern Virginia Market for $115M
The REIT will further enhance the brand new facility, located 30 miles west of Washington, D.C., in Northern Virginia’s thriving data center market, by shelling out an additional $166 million to wrap up remaining development activities.