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
Chinese Developer Wanda Group Continues Large-Scale Development Involvement with Winning Bid at 9900 Wilshire Site
Chinese developer Dalian Wanda Group recently announced that it will take charge of the coveted plot of land located at 9900 Wilshire Boulevard. The Beijing-based company beat out ten different competing entities from North America and Asia The company also announced plans for an investment amounting to approximately $1.2 billion for the site, with the company set to build a mixed-use development project.
San Diego State Starts $53M Makeover of Residence Hall
San Diego State University’s Zura residence hall renovation project has officially begun as Balfour Beatty Construction is handling the process on behalf of the organization. The process is essentially a $53 million investment aiming to upgrade and improve student housing facilities at the site. Financing for the project was sourced through California State University System wide Revenue Bond program, and housing reserves. Completion for the Zura hall renovation project is set for the summer of next year.
The Daskalos Family Acquires Two Shopping Centers in Albuquerque
In June of this year the Four Hills Village shopping center was listed for sale on an online auction. Recently, the Daskalos family, one of the big league players on the local real estate and development scene, is in the final stages of acquiring it together with the Shoppes at Taylor Ranch.
Taylor Morrison Expands Further in the Austin Area through Dripping Springs Land Acquisition
After announcing a new phase of development at Leander’s Fairways at Crystal Falls, Taylor Morrison announced the acquisition of over 100 acres in Dripping Springs. Here is where the Founders Ridge single-family home community will debut in mid-2015.
Burbank Office Property Acquired by Granite Properties in $49 Million Deal
A Burbank office building was recently acquired by Granite Properties as the company expanded its SoCal office portfolio past the one million square feet mark. The buyer paid Legacy Partners Realty Fund I LLC a fee of $49 million for the asset located in the city’s Media District. Legacy Partners was represented by Kevin Shannon, Tom Bollinger and Michael Longo of CBRE, while Granite Properties was represented by its own employees, Paul Bennett and Tom Miller.
Petro Waste Environmental Proposes $5M Oil-Field Waste Disposal Site
San Antonio-based Petro Waste Environmental, a company that provides environmental services, has proposed an oil-field waste disposal and treatment site for a 204-acre piece of land in Nordheim, DeWitt County, one of Eagle Ford Shale’s busiest drilling areas. The application has been presented to the Texas Railroad Commission for the second time, after being denied in 2013 because of the risk the proposed facility inflicted on the area, possibly causing or allowing pollution to surface or subsurface waters and because of protests by local residents.
Kennedy Wilson Expands Pacific Northwest Portfolio with $127M in Acquisitions
Kennedy Wilson recently expanded an already substantial multifamily portfolio in the Pacific Northwest, as the company acquired three properties in the greater Seattle area. The $127 million investment made by the buyer includes equity and a financing component sourced from Freddie Mac.
Jay Paul Company Receives $480 Million Construction Loan from HFF for its Tower at 181 Fremont Street
The city’s South Financial District is set to welcome a new major mixed-use development project as developer Jay Paul Company recently locked in financing for its Fremont Street venture. HFF recently announced that it has arranged construction financing on behalf of the developer through Starwood Property Trust. The total amount sourced for the large mixed-use plan is $480 million. HFF’s debt placement team was led by Peter Smyslowski, a managing director with the company, with director Chris Gandy and associates Walter Chui and Brandon Roth also part of the team.
Office Building in Uptown Albuquerque Up For Sale for $6.4M as Residential Conversion
In times that are difficult for the office market in Albuquerque, solutions begin to surface. The four-story office building located right in the center of Uptown offers one: it’s up for sale as a residential conversion opportunity.
Capri Capital Partners Joins Forces with TruAmerica Multifamily for the $283 Million Acquisition of The Vermont
A partnership of Capri Capital Partners and TruAmerica Multifamily just completed the larges multifamily, mixed-use transaction in the state of California for the current year. The partnership closed on a deal worth $283 million, for the recently completed The Vernon high-rise apartment complex in the Los Angeles submarket of Koreatown. Property management duties at the complex will be carried out by Lincoln Property Company, the entity being hand-picked by the new ownership group.