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
San Fernando Valley Luxury Asset Acquired for $44 Million
A private investor recently completed the acquisition of a residential asset in Encino, CA for a reported amount of $44 million. According to real estate firm Lee & Associates, the property was acquired from IMT Capital, a Sherman Oaks, CA-based company. The off-market transaction was completed with the assistance of Lee & Associates – LA North/Ventura Managing Director and Principal Jim Fisher, Lee Principal Mike Smith and Associate, Cory Stehr. The buyer was in a 1031 Exchange, and acquired the property as a long-term investment.
Pioneering Property Changes Hands in Central Austin
By Anca Gagiuc, Associate Editor Austin’s first transit-oriented mixed-use development is under new ownership. On Feb. 11th, MIG Real Estate L.L.C. announced its acquisition of Midtown Commons at Crestview Station. The asset is the fourth in the city and eighth in Texas for Newport Beach, Calif.-based MIG. Completed in 2009 by Trammel Crow Co., Midtown […]
Golden Spike Develops $6.1M Apartment Property in East Nob Hill
Platinum Apartments is the new name of the residential project that was originally scheduled to enter the development phase in 2007, but got hit by the Great Recession. Currently, reports Albuquerque Journal, it is well into construction, planned to be finalized this summer.
Goodman Birtcher Lands Tenant for Oakland Facility
Last summer, the Goodman Logistics Center in Oakland announced that one third of the facility’s available space had been leased out to Benjamin Moore & Co. With about a third of the available space taken, the property recently announced another major tenant, as a deal worth $16.25 million was recently completed with Coasters Company of America. The Santa Fe Springs-based company has signed on for ten years at the facility, in a deal that was brokered by Tim Cronin and Craig Hagglund of Lee & Associates Oakland. Developer and landlord Goodman Birtcher worked with JLL rep Jason Ovadia in the leasing deal.
Deluxe M-F Complex Kicks Off Leasing in Mission Viejo
Wermers Properties and Watermarke Properties recently announced that leasing is now underway at one of their San Diego projects. The joint venture is now ready to receive potential tenants at its Adagio on the Green luxury apartment development, now that the project is nearing the final months of construction. The development deadline for the upscale multifamily project is set for August 2015.
Arena Team Names 1st Founding Partner
The new Las Vegas Arena project headed by a partnership between AEG and MGM Resorts International has its first “Founding Partner”. The development team on the project that aims to bolster the amount of high-profile events that take place in Las Vegas has a new name joining. Schneider Electric is a global specialist in energy management, and has entered a formal, multi-year agreement with the Las Vegas Arena Company. The contract calls for the company to design, install and operate numerous tech systems throughout the arena.
Dermody Targets Vancouver’s Low Industrial Vacancies
A new Vancouver, Wash., development is underway to help feed an industrial void in the market.
LGI Homes Acquires Parcel No. 3 of Luckey Ranch Master-Planned Community
Texas-based builder of housing developments LGI Homes has acquired recently 239 acres of residential land at the Luckey Ranch master-planned community in San Antonio. The seller was Kalikow Group on behalf of KEP Luckey Ranch Global Associates and the sale price remains undisclosed.
Pasadena Office Asset Acquired by Laurus Corporation
A Pasadena office asset was recently picked up by private real estate investment and development firm Laurus Coporation. The company announced the acquisition of 199 South Los Robles this week, which marks an expansion of Laurus into the country’s second largest office market. Pasadena is one of the best performing submarkets in Los Angeles, with the area being able to maintain a consistently low average vacancy rate over the past decade. Pasadena, along with Glendale and Burbank, is part of Tri-Cities market, one of the top three real estate markets in Los Angeles County.
HID’s New, Green HQ Reaches Milestone
HID Global, a worldwide leader in secure identity solutions, has announced it has finalized the consolidation of its world headquarters and North American Operations Center located in Austin. In the following 12-18 months, the company has planned to pursue a number of additional security certifications for its operation.