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
Jane Fonda’s Forked Lightning Ranch Listed for $19.5M
North of Albuquerque and near Santa Fe there’s a serene place bathed by Pecos River, a place that Hollywood actress Jane Fonda has been calling home since year 2000. Forked Lightning Ranch has been her escape place; adjacent to Pecos National Historical Park, this property is the middle part of the former 13,000-acre cattle ranch owned by movie star Greer Garson and her husband. She now decided it is time to let go and has put it up for sale.
Bristol I at Southport Scores $27.6M Loan Arranged by Johnson Capital
Johnson Capital recently completed a financing deal for an apartment complex in Renton, Washington. The company has provided a loan worth $27.6 million for the Bristol I at Southport community, a residential property completed back in 2002. Amos Smith and Sea Skelton, currently with Johnson Capital’s Irvine, CA office worked on behalf of the property owner to arrange the financing for the asset.
Hines and Oaktree Partner Yet Again for the Acquisition of Brea Place Office Campus
International real estate firm Hines recently announced the purchase of Brea Place, a sprawling office campus that also includes a plot of mixed-use development land, part of its ongoing partnership with Oaktree Capital Management. Financial terms of the deal were not disclosed to the press.
Port of San Diego To Seek Developers for Waterfront Hotel in Chula Vista
The City of San Diego is set to see one of the largest waterfront developments take shape as local authorities are gearing up for the Chula Vista Bayfront project. The Port of San Diego is set to issue an RFQ for a convention resort hotel project that would be part of the Bayfront master plan, acting as the centerpiece of the sprawling CVB development initiative. Jones Lang LaSalle is the entity acting as the lead advisor for the Port of San Diego on all aspects of the project.
Federal Way City Council Approves Performing Arts/Conference Center Project in Unanimous Vote
Federal Way is set to see a new development initiative as the City Council recently decided to authorize construction of a new performing arts and conference center in the city’s downtown. The measure passed through a unanimous vote this past week, most likely as a direct result of a study conducted by the Mayor’s Blue Ribbon Panel showed that the proposed facility would accelerate the development of the area. The estimated cost of the performing arts development project stands at around $32 million.
Presidium Group Acquires Two Multifamily Communities in Austin
Austin not only won the title of the fastest growing metro area in Texas, but also is ranked as one of the fastest growing stable employment sectors in the nation, according to a Marcus and Millichap report. Investors are well aware of this fact and grow their portfolios; Presidium Group seems really focused in this regard.
Retail Opportunity Investments Corp. Announces Purchase of Fallbrook Shopping Center for $210 Million
Retail Opportunity Investments Corp. recently made the announcement that it is set to become the new owner of a major retail center in the San Fernando Valley. The company has entered into a binding contract for the acquisition of the Fallbrook Shopping Center, for a purchase fee of $210 million in cash. The transaction will reportedly be closed by the end of this quarter.
MARKET REPORT: Vacancy, Employment Up in Austin
The Silicon Hills nickname Austin received in the 1990s proves to still be a suitable one for the current times due to the technology firms that are continuously attracted to this area.
Heritage Hotels and Resorts Acquires Eldorado Hotel & Spa
Eldorado Hotel & Spa, Santa Fe’s 219-room hotel, has been acquired by Heritage Hotels and Resorts in partnership with several co-investors, including insurance executive Randy Talbot. The transaction has been financed by Washington Federal and First National Bank of Santa Fe and Stu Sherman brokered the transaction.
Downtown Summerlin Nears Completion and First Test
There is always a large amount of chatter regarding big developments, new master-planned communities and ambitious redevelopment projects. But it’s the downtown component that is always polarizing. With Summerlin’s downtown area edging closer to reality, specifically the project formerly known as Summerlin Centre, Howard Hughes Corp’s concept for a new style of large scale development in the area is set to get its trial by combat as homebuyers and businesses will mark the latest phase in the master plan as either a success, or another Vegas bust.