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
80-Unit Student Housing Complex Trades in Orem
By Alex Girda, Associate Editor An 80-unit, 300-bed student housing complex near Utah Valley University in Orem recently came under new ownership. The asset, College Terrace Apartments, is located at 643 West 1200 South near Interstate 15. Completed in 1985, the 64,500-square-foot complex is located on a 2.6-acre site in one of Utah’s fastest-growing student […]
Cornerstone Realty Pays $26.1M for Lincoln Commerce Park 2
By Alex Girda, Associate Editor In a $26.1 million deal, a joint venture of Lincoln Property Co. and Invesco Realty Advisors sold Lincoln Commerce Park 2, a 336,665-square-foot complex in Phoenix, to an affiliate of Cornerstone Realty Advisers L.L.C., Business Real Estate Weekly of Arizona reported. The 336,665-square-foot, four-building complex is part of Lincoln Commerce […]
Sea-Tac’s $350M Green Rental Car Facility to Debut May 17
By Alex Girda, Associate Editor After four years of construction, a $350 million parking structure designed to streamline car rentals at Seattle-Tacoma International Airport will debut on May 17. The project’s sustainable features earned Silver LEED certification late last month—the biggest consolidated rental car facility to be so recognized by the U.S. Green Building Council. Airport […]
LNR Partners Sells 399-Unit Multi-Family Asset to Weidner for $36M
By Alex Girda, Associate Editor In a $36 million deal, Weidner Investment Services has acquired the Apartments at Steele Park from an affiliate of LNR Partners L.L.C. Weidner paid a per-unit rate of $90,395 for the 399-unit complex located at 411 East Indian School Rd., the Phoenix Business Journal reported. Cassidy Turley BRE Commercial executive vice […]
JC Goldenstein: Retail Sales and Online Buzz in the Run Up to ICSC Recon Eases Growth Worries
An improving job outlook and a mild winter helped Americans shrug off high gas prices. Retail sales continued to outperform economist expectations, leading to gains in retail leasing. By analyzing CREOpoint’s crowd-sourced data, covering tens of thousands of news sources, online articles, forum posts and tweets mentioning ICSC and retail each day from October 15, 2011 to April 15, 2012, it is clear that something fundamental is also happening. The use of the words “recession” and “crisis” were being replaced by more positive words like “improvement” and “good”! What does this mean for commercial real estate? Momentum. We’re seeing a…
Rising Returns with Value-Add Purchase of PacMutual Complex
By Alex Girda, Associate Editor A partnership led by veteran executive Nelson Rising has made its debut with the acquisition of the landmark PacMutual building in Downtown Los Angeles. Rising Realty Partners bought the 424,598-square-foot, three-building asset in association with Mount Kellett Capital Management L.P., its financial partner. According to the Los Angeles Times, local real […]
Clarion Buys 1600 Seventh Ave. Tower in $137M Sale-Leaseback
By Alex Girda, Associate Editor In a $137 million sale-leaseback deal, Clarion Partners L.L.C. has taken ownership of 1600 Seventh Ave., a 598,000-square-foot office tower in Downtown Seattle. CenturyLink, the telecommunications company formerly known as Qwest Communications, sold the property it has occupied for 36 years and will remain in 260,000 square feet of the tower. A team from […]
Starwood Hotels and Partners Detail Lofty Plans For Cupertino
By Alex Girda, Associate Editor
In a move that Starwood Hotels & Resorts Inc. hopes will capture the Silicon Valley’s young, hip demographic, the company is bringing its Aloft select-service brand to Cupertino. Scheduled for an early 2013 opening, the 123-key hotel will be the third Aloft in the Golden State. A joint venture of Shashi […]
Westport Capital Partners Adds to Fooprint with $17M Office Asset
By Alex Girda, Associate Editor Westport Capital partners has added to its Greater Phoenix footprint by buying the Camelback Arboleda office campus in a $16.6 million deal, the Phoenix Business Journal reports. The 179,751-square-foot asset commanded a price comparable to the $17 million paid by the seller, CFS Arboleda L.L.C., when it acquired the property […]
Archstone Project Answers Multi-Family Demand in Santa Clarita
By Alex Girda, Associate Editor In another sign of growing demand for multi-family rentals in the Santa Clarita Valley, Archstone and an affiliate of The Resmark Cos. recently broke ground on a 157-unit town home complex in Santa Clarita. “The strong job market in the Valley and in the Los Angeles area has helped create greater […]
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