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
Clear Sky Capital Acquires Apartments in Albuquerque
Silverado Apartments has exchanged owners in a transaction handled by the rebranded Colliers HSK Multifamily Southwest Team, a partnership between Colliers International in Greater Phoenix and Collier’s office in Albuquerque. The buyer was Clear Sky Capital Inc. of Phoenix and the seller First Pacific Group, a real estate investment and management firm from San Francisco.
Dornin Snaps Up Downtown Office Building
With the commercial market finding new life in Las Vegas, the Dornin Investment Group has moved to acquire an office asset in the city’s downtown. The investor acquired City Centre Place, with funds for the purchase being provided by real estate finance and investment management firm PCCP, LLC. The buyer was provided with an $18 million senior loan for the acquisition and lease-up of the property. This is the third transaction completed between PCCP and Dornin Investment, according to PCCP Associate Vice President, Mike Johnson.
Balfour Beatty Completes Hollywood M-U Tower for Less than Expected
Balfour Beatty Construction has completed a high-end mixed-use tower in Hollywood at a considerably lower cost than originally estimated.
Crimson, USAA Realco Break Ground on Project in Northwest Austin
In Northwest Austin recently broke ground a new Class A office building. The new development, Aspen Lake Two, is a partnership between Crimson Real Estate and USAA Real Company.
CBRE Sells Legacy Heights Apartments to Cottonwood Residential
The multifamily team of CBRE Capital Markets announced another sale on behalf of an anonymous seller. The property in question is San Antonio’s Legacy Heights; the new owner is Cottonwood Residential of Salt Lake City, Utah. The price of the transaction was not disclosed.
Carmike Cinemas Breaks Ground on 12-Screen Movie Theater at Las Estancias Development
Southwest Albuquerque has broken ground on a 12-screen movie theater at the new Las Estancias, a 79 acre development near Rio Bravo and Coors. This marks the entrance in a new era as it represents the first time in over five decades when the South Valley is getting the chance for a night out at the movies.
SPOTLIGHT ON AUSTIN: Dividend Capital Buys Pair of Class A Office Buildings
Denver-based Dividend Capital Diversified Property Fund has expanded its footprint in Austin with not one, but two office-building purchases.
CBRE Represents Price Development Group in Sale of Broadstone Colonnade in San Antonio
The Broadstone Colonnade apartment complex was sold to an anonymous buyer for an undisclosed price. The seller, Missouri-based Price Development Group, has been represented in the transaction by CBRE Capital Markets through Charles Cirar, Ryan Epstein, and Michael Wardlaw.
SPOTLIGHT ON SAN DIEGO: TIAA-CREF Takes Kearny Mesa Office Asset
The Copley Corporate Center in the Kearny Mesa submarket has recently traded hands.
Mill Valley M-F Asset Commands Record-Setting Price
Woodmont Companies recently acquired a Marin County multifamily asset, in a deal that set the new record in terms of price paid per square foot in the Bay Area. The Belmont-based buyer acquired the Casa Roja Apartments in Mill Valley at a rate of around $570 per square foot from seller Red Island Real Estate LLC, a Sausalito-based entity. The transaction was arranged by a Colliers International team consisting of Vice President Ryan Wagner, Brad Lagomarsino and James Devincenti, who worked on behalf of the seller.