Barbra Murray
Angelo, Gordon Takes Suburban Cincinnati Industrial Asset
Stan Johnson Co. arranged the sale of the 335,700-square-foot property for Cincinnati United Contractors, which developed the property in 2001.
IHOP Expanding, 120,000 New SF in Works
In New York, new pancake houses will sprout up in Manhattan and Queens, including a flagship locale in Times Square. In New Jersey, IHOPs will be erected in Bergen, Essex, Morris and Union counties, and the city of Fairfield, Conn., will get new restaurants as well. The development of these traditional-style IHOP family restaurant sites is part of the company’s strategy to expand its presence to accommodate existing customers and lure new ones.
Douglas Emmett Snags Premier 310,100-SF Los Angeles Office Property for $111M
Approximately one month after a bankruptcy court gave the green light for Douglas Emmett Inc. to acquire the 310,000-square-foot Wilshire Bundy Plaza in West Los Angeles, the deal is now done.
Ventas Portfolio, Profile to Swell with $3.1B Atria Purchase
A new deal is turning heads in the seniors housing market, a deal that will put Ventas Inc. at the very head of the table: namely, the healthcare REIT’s definitive agreement to acquire 118 premier properties from Atria Senior Living Group, the nation’s fourth-largest assisted living property operator, in a transaction valued at $3.1 billion.
Behringer Harvard Purchase 560-Unit Fort Lauderdale Apartment Asset
Acting on behalf of Behringer Harvard Opportunity REIT II Inc., Dallas-headquartered Behringer Harvard has acquired the 560-unit Parrot’s Landing Apartments in North Lauderdale, Fla., partnering with Denver-based Grand Peaks Properties but retaining a 90 percent ownership stake.
Brookfield Closes $2.7B Americas Infrastructure Asset Fund
As it turns out, Brookfield Asset Management underestimated investors’ interest in infrastructure . The Toronto-based property and infrastructure asset manager has just closed Brookfield Americas Infrastructure Fund L.P. with $2.7 billion in commitments–a far cry from the company’s original $1.5 billion target for the fund, which will seek high-quality infrastructure assets across North and South America.
USAA Buys 1.4 MSF Memphis Industrial Portfolio, Continuing Shopping Spree
USAA Real Estate Co. has been bulking up its portfolio all summer, and it appears the activity is going to continue right into the fall. US Industrial REIT III, owned by affiliates of USAA and a group of institutional investors, just acquired a 1.4 million-square-foot industrial portfolio at Chickasaw Distribution Center in Memphis.
Boston Properties Wins 500,000-SF GSA Lease in Virginia
By Barbra Murray, Contributing Editor In the latest government lease to bolster the Northern Virginia office market, the General Services Administration has taken more than 500,000 square feet for the Defense Intelligence Agency (DIA) at a Patriots Park in Reston, Va. Under a 20-year deal with Boston Properties, the park’s owner, DIA will occupy about 520,000 square feet at Patriots Park, which is located about 20 miles west of Washington, D.C.  “This will be a consolidation of DIA groups from various locations throughout Northern Virginia,” Leroy W. Battle, transaction manager with commercial real estate services firm CB Richard Ellis…
Ark Partners Launches 250-Key Luxury Hotel in Midtown Manhattan
Ark’s 57th Street hotel will debut in 2013, which may well be a good time to open a new property in New York City.
BRE Grabs San Jose Apartment Property for $50.2M, Assumes Mortgage Loan
The San Francisco-based REIT assumed a $32.5 million mortgage in buying the 226-unit property.