Nicholas Ziegler
PREI Purchases Commercial Area of 31-Story NYC High-Rise
Prudential Real Estate Investors has purchased the commercial portion of The Laurel, a 31-story, Class A mixed-use building on the Upper East Side.
90-Property, $90M HSBC Commercial Portfolio Sale Biggest in Mexico This Year
With the assistance of commercial real estate services firm Jones Lang LaSalle, HSBC has sold a group of 90 bank branches and regional corporate offices in Mexico in a $90 million sale-leaseback deal.
Cassidy Turley Snaps Up Carter’s Brokerage, Property Management Businesses
Cassidy Turley has taken a major step in the expansion of its reach in the Southeast with the acquisition of the brokerage and property management businesses of Carter, a full-service commercial real estate services firm headquartered in Atlanta.
Cushman: A Possible $200M for Luxury Tribeca Apartment
In a deal that’s been speculated to reach north of $200 million, developer/owner Africa-Israel USA has sold 88 Leonard St., a 352-unit mixed-used luxury rental building in New York City’s Tribeca district, to a Chicago-based investment firm.
Glimcher, DDR Swap $80M, $139M Assets in Columbus, Kansas City
In an interesting move, Glimcher is selling the Columbus, Ohio-based Polaris Towne Center for approximately $80 million, and DDR is unloading the Town Center Plaza in Kansas City for around $139 million – with the buyers being each other.
Economy Watch: Beige Book Finds Economy Soft, but Not Quite Comatose
The latest Beige Book painted a picture of a lukewarm U.S. economy. Green Street Advisors reported that its Commercial Property Price Index rose 1 percent in August. And, as expected, the German courts said the country’s participation in the EU bailout is indeed constitutional.
$93M Refi for Mixed-Use D.C. Apartments
Vaughan Place at McLean Gardens, a 389-residence mixed-use apartment complex in Washington, D.C., has been refinanced to the tune of $93 million, courtesy of a loan provided by Walker & Dunlop Inc.
Equity REIT Liquidity: A Glass Half Full and Slowly Getting Fuller
By Steven Marks, Head of U.S. REITs, Fitch Ratings
Liquidity for U.S. REITs has strengthened substantially. While it remains weaker than in the period prior to the financial crisis, Fitch’s outlook is stable for U.S. equity REIT liquidity over the near term.
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