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
Brandywine RT and DRA Advisors LLC Form Joint Venture on $330 Million Office Properties
A new joint venture appears in Austin’s commercial sector. Brandywine Realty Trust, specialized in the ownership, management and development of urban, town center and office properties, has announced the newly created entity with DRA Advisors LLC. ‘The Venture’ will acquire Brandywine’s entire office portfolio from the Southwest submarket of Austin and each will own a 50 percent interest.
W.P. Carey Buys Government-Occupied Office Asset in Manchester
W.P. Carey has bought an office asset in the third largest city in the U.K. from the Department of State for Communities and Local Government for $62 million.
Eight-Building Campus in San Jose Acquired by TMG Partners-Fortress Investment Group Joint Venture
A massive office campus deal was recently arranged by a joint venture between San Francisco-based TMG Partners and Fortress Investment Group LLC. The JV has acquired the current San Jose home of network solutions company, Cisco. The eight-building office/R&D campus was previously owned by the company which has already agreed to lease back the space once the deal is closed.
Montaño Transit Center Breaks Ground in Albuquerque
A $7.5 million project broke ground in Albuquerque that will serve both ABQ RIDE and New Mexico’s Rail Runner Express. The Montaño Transit Center will primarily favor the travelers in North Valley and Montaño/Montgomery river-crossing corridor.
The Residences at Mandarin Oriental Reach Sales Milestone
As the Las Vegas residential market fights for its life, with Nevada’s foreclosures once again at the top of the national chart in a time when homebuilding is at the top of its game, it seems that the market might find a typically flashy savior, considering the context. According to a recently released press statement, one of the city’s most high profile luxury residential properties, The Residences at Mandarin Oriental, has announced strong sales figures for the first six months of its existence.
Wedgwood Senior Living Community Sold to Out-of-State Investor
Wedgwood Apartments, the North Central senior apartment community located at 6701 Blanco Road, has changed owners. The property is easy to reach from Loop 410 and U.S. Highway 281 and close to much of what San Antonio has to offer.
Simon Property Group’s Barton Creek Square to Undergo Food Court Renovations
Simon Property Management, the Indianapolis-based real estate company that owns a fairly large percentage of retail space in Austin, has started the remodeling works at the food court in Barton Creek Square shopping mall. Completion of the project is scheduled for November 2013.
Macquarie REIT Acquires Double Retail Center in Mexico City for $153M
The Macquarie Mexican REIT has made a move into the Mexico City retail market with the purchase of two commercial properties in the capital’s metropolitan area for $153 million.
Moss Adams Leases 18,964 Square Feet of Office Space in Two Park Square
Right in the heart of uptown Albuquerque there are two 10-story office buildings with splendid views of the surrounding Sandia, Manzano, Jemez and San Mateo mountain ranges. Hines, the building developer, owner and managing company for the properties welcomed a new tenant to occupy 18,964 square feet the sixth floor of Two Park Square.
CBRE Manages Sale of Westover Springs
A Class A multi-housing community in northwest San Antonio has been taken off the market as result of the successful representation by CBRE Central Texas Multi-Housing Group. Charles Cirar, Ryan Epstein and Michael Wardlaw represented the seller and Jim Kirkpatrick and Jim Richards with CBRE’s Debt and Equity Finance Group arranged the financing for Westover Springs located at 12105 State Highway 151.