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
KB Home Starts CrossCreek’s New Phase
Los Angeles-based KB Home, recently announced the opening of the newest phase of single family homes at CrossCreek, a community located in northwest San Antonio, one of the most active real estate markets of the city.
SolarCity Enters New Mexico with New Center
Albuquerque will soon start shining again. Even though Tesla Motors CEO Elon Musk chose another location for the lithium-ion battery factory to the detriment of the Duke City, he observed another advantage the city offers: the shining sun. With his two cousins, Lyndon and Peter Rive, they are bringing to New Mexico one of America’s largest solar power provider.
International: Qatar Shops in Milan
Qatar Investment Authority has completed the purchase of a major development in the Italian city of Milan.
Retail Property Housing Kohl’s in L.A. Trades Hands at Record-Breaking Cap Rate
A Los Angeles area Kohl’s recently traded hands in a deal worth a reported $22 million. The transaction was arranged by Ed Hanley, Kevin Fryman and Eric Wohl of the Hanley Investment Group. The team arranged the deal for the triple-net leased property at a cap rate of 4.8 percent, one that Hanley Investment Group calls “the all-time lowest ever for a single-tenant Kohl’s in the U.S.”
Richman Gets Green Light for High-End Downtown Project
A new luxury apartment building is set to take shape in downtown San Diego as approvals are now in-place for a brand new project. The development is The Richman Group of California LLC’s third project in SoCal, since its foundation just one year ago. The other two multifamily residential/mixed-use projects by the company to be approved by government agencies are located in Orange County and L.A.
Artessa at Quarry Village Acquired by Intercontinental Real Estate
Intercontinental Real Estate Corporation headquartered in Boston announced the acquisition of Artessa at Quarry Village in San Antonio. The acquisition of the luxury mixed-use retail and apartment property was led by Senior Director of Acquisitions, Steve Centrella and Associate Director of Acquisitions, Chris LaFrance.
South Park Business Improvement Lands Major Victory with Sidewalk Initiative
The South Park Business Improvement has been very effective in its efforts to address the issues city sidewalks present the booming area of downtown. BID has received a great deal of assistance from Councilman José Huizar, as well as the Los Angeles Board of Public Works, and the Bureau of Engineering and Bureau of Street Services. Through this support system, the BID had the conditions to fund a pilot program with 800 sidewalk locations being improved in terms of safety and being brought to the specifications of the Americans with Disabilities Act.
Hamilton Zanze Picks Up Austin Asset No. 4
San Francisco-based real estate company Hamilton Zanze, purchased 15 multifamily assets worth over $297 million in the Western and Southwestern areas in the last 12 months; the firm continues its expansion with the acquisition of Bradford Pointe, a residential complex located in the North Central Austin submarket. The transaction represents the company’s fourth investment in Austin. The seller and the price of the acquisition remain undisclosed.
Napa Multifamily Asset Commands $58M
A Napa multifamily property was recently acquired by a joint venture created between Security Properties and Intercontinental Real Estate Corporation. The entity acquired the property in a deal worth $58 million through its Security Properties Multifamily Fund II. This marks the eighth acquisition in the fund. Saratoga Downs Apartments is a Class A property that features garden style apartments and newly constructed townhomes. The transaction was arranged on behalf of both the buyer and seller by Seth Siegel and Jason Parr of Cushman & Wakefield.
Sempra’s HQ Scores $30M in Financing
Shapery Enterprises recently secured a loan for its 101 Ash Street property, with the help of financing provider HFF. Shapery controls the borrowing entity, The Gas & Electric Headquarters Building – San Diego, LP, and received $30 million in financing for the property. The team that handled the financing process was led by HFF senior managing director Tim Wright and director Zack Holderman.