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
SL Green Sells Stake in SoCal Office Portfolio as Los Angeles Office Market Shifts Away from Downtown
The ownership structure of a major office portfolio recently suffered some changes after New York City-based SL Green Realty Corp. announced that it had sold its stake in a Southern California portfolio to an affiliate of its joint venture partner. SL received $100 million from an entity linked to Blackstone Real Estate Partners VII for its 43.74 percent interest. The properties that comprise the portfolio are located across Southern California in major markets including Los Angeles, Orange County and San Diego.
LGI Homes Offers Affordable Single-Family Homes in Albuquerque
Albuquerque has a new option for its inhabitants who want to change their housing status from renters into homebuyers through the newest community constructed by Woodlands-based LGI Homes, Inc. Camino Crossing offers in the city of Rio Rancho affordable homes starting at $799 per month.
Northwestern Mutual Provides Mortgage Loan Worth $140 Million for Levi’s Plaza
The global headquarters of world-famous clothing brand Levi Strauss & Company was recently involved in a financing deal worth $140 million. The mortgage loan was provided by Northwestern Mutual, a real estate investment firm that deals with commercial mortgages, equities and securitized investments comprising all property types. The loan was taken on behalf of a group of investors that includes Gerson Bakar, Diane B. Wilsey and Interland.
HFF Represents JCI Residential in the Sale of Silverado Crossings Class A Multi-housing Community
The newly constructed Silverado Crossing has been purchased by the Meagher Family Trust; JCI Residential was the seller, represented by HFF (Holliday Fenoglio Fowler, L.P.). Terms of the transaction were undisclosed, but the acquisition of the complex ran its course free and clear of debt, projecting full stabilization.
New West Cypress Hills Elementary School Will Open This Year Courtesy of MileStone Community Builders
Only 30 minutes from Austin’s downtown lie some of the most stunning views of beautiful hill country land, hundreds of acres accessible to greenbelts, trails, and parks surrounding the West Cypress Hills Lake Travis Community. The builder, MileStone Community Builders, LLC, recently announced that the new West Cypress Hills Elementary School will open in 2014.
Canyon Realty Funds $55.2M Senior Loan for Final Phase of Retail Center The Rim
The prosperous North San Antonio market keeps on flourishing, especially the Northwest Corridor. After the consistent investment deal lead by Hines Global REIT in the massive retail center, The Rim, the final phase of construction is about to commence. Canyon Capital Realty Advisors announced its involvement in the financing for the fifth phase with a $55.2 million senior loan to an affiliate of Thomas Land and Development, LLC. RIM V adds 254,606 square feet of retail space to the existing construction, and 91% of it is already pre-leased to retail tenants.
Edgewood Town Council Approves Master Plan for State Trust Land
By Anca Gagiuc, Associate Editor
After countless public meetings, the Edgewood Town Council signed the Joint Planning Agreement (JPA), approving the master plan for Edgewood Commons. State Land Commissioner Ray Powell and Edgewood Mayor Brad Hill have given the start to the revision of the master plan for the state trust land, also known as Section 16.
Rewe Opens First Passive House-Certified Supermarket in Germany
German retail giant Rewe Group debuted its most ambitious project to date, opening its first Passive House-certified supermarket.
San Mateo County Office Campus Sold by Harvest Properties and Invesco Real Estate with Peninsula Developing as Tech Market
A Chicago-based real estate company has recently made its first move in the San Mateo County office market. Heitman, a global management firm, recently completed the purchase of an office complex in Foster City, CA from partnership between Harvest Properties and Invesco Real Estate. The transaction brings further proof that the San Francisco Peninsula is generating interest in the tech market, ranking in the top three markets for tech companies in the entire U.S.
Joint Venture Between Zocalo Community Development and Principal Real Estate Completes Sale of Residential Development at Union Station
Denver’s multifamily market recently recorded an important acquisition as an institutional client of Invesco Real Estate bought a residential complex from the partnership between Zocalo Community Development and Principal Real Estate Investors. The recently-completed apartment community is located in the city’s growing neighborhood of Union Station.