Anca Gagiuc
Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com
New Mexico Ranked 10th in the Country in Solar Installations Added in 2014
Currently there are almost 100 solar companies at work in New Mexico; together they employ more than 1,600 people. According to the recently-released U.S. Solar Market Insight 2014 Year in Review, the Land of Enchantment had the 10th most new solar capacity added in 2014 in the nation, doubling the amount of solar capacity added a year before.
Rubicon Point Wraps Sale of 2 Assets in Silicon Valley
As Silicon Valley continues to entice investors, Rubicon Point Partners recently announced that is has completed sale agreements for two office properties in the area. The assets were acquired by separate entities that remained unnamed, with the two transactions totaling more than $40 million. According to Rubicon Point Partners Managing Partner, Ani Vartanian Boladian, the company successfully applied its policy of strategically repositioning the two assets to a “superior use for office space” within 18 months.
Bascom/Oaktree JV Finds Asset No. 7 in Henderson
A joint venture between The Bascom Group and funds managed by Oaktree Capital Management, L.P. recently completed the acquisition of a Henderson, NV multifamily asset. The $300 million venture now owns the Villa Serena community in the Las Vegas area, situated in the immediate proximity of the Union Village the first integrated health village in the world. Financing for the transaction was provided by Mesa West Capital in Los Angeles, and was arranged by CBRE Capital Markets representatives. The seller worked with CBRE representatives during the deal.
Grand Del Mar Joins Fairmont Portfolio Following Sale
One of the nation’s top hotels is getting a new name to go with its new ownership and management. Fairmont Hotels & Resorts is assuming management duties at the Grand Del Mar resort, which will operate as the Fairmont Grand Del Mar
Market Snapshot: It’s Sunny in San Antonio’s Office Sector
San Antonio’s office market is shining brightly.
West Hollywood Apartment Community Earning Above Average Prices
A West Hollywood apartment property located in the vicinity of the Pacific Design Center recently traded hands at a per-unit rate that more than doubles the average residential unit price in L.A. According to Marcus & Millichap, whose representatives arranged the transaction for both parties involved, the seller received a total of $8.25 million for the asset. First Vice President Investments in Marcus & Millichap’s West L.A. office marketed the property on behalf of the seller while Los Angeles office senior associates Michael Hanassab and Elliot Hassan advised the buyer.
CyrusOne Offers Virtual Tour of San Antonio II Data Center
CyrusOne, the global data center services provider, recently announced the launch of the virtual tour of its San Antonio II data center campus on its website. The development is designed to be constructed in two phases, and at completion is expected to encompass 372,000 square feet.
Apple Bites for 4 Buildings Near New Campus
Riata Crossing North, the office complex comprised of four buildings in Northwest Austin, has been sold. The buyer is Apple Inc., already the solely occupant of the entire complex, which it had been leasing before the acquisition. The price or further details of the transaction were not disclosed, reports The Austin American-Statesman.
Bank of America Plaza Gets $50M in Financing
A large Las Vegas office asset was recently the subject of a financing deal, as CBRE Capital Markets’ Debt & Structured Finance team arranged $50 million for the Bank of America Plaza in Las Vegas, in the city’s downtown area. The bridge loan was arranged on behalf of Angelo, Gordon & Co. and City Center Realty Partners, with the finacing being sourced by Prime Finance.
Masterplan of 13,850-Acre Santolina Awaits Approval in West Albuquerque
The Albuquerque area might transform completely in the near future. A big empty space along I-40 could turn into a new development for tens of thousands of people.