Nicholas Ziegler
First Potomac, Perseus Purchase D.C. Bus-Terminal Site for $46.8M Office Project
First Potomac Realty Trust and Perseus Realty L.L.C. have purchased the 1.6-acre Greyhound Bus Terminal site from FirstGroup PLC for approximately $46.8 million in order to develop a future office project.
Wood Partners Announces 298-Unit, $75M Apartments in L.A.
Wood Partners plans to begin construction on a 298-unit, $75 million apartment community in the Woodland Hills district of Los Angeles by mid-August.
Inland American Ropes in the Fairmont Dallas for $69M
The Fairmont Dallas comes under new ownership as Inland American Lodging acquires the 545-room luxury hotel from Pacific Coast Capital Partners and DiNapoli Capital Partners for $69 million.
New Boston Fund Promotes from Within to Advance Growth Strategy
New Boston Fund is making moves to increase its presence in key markets in the Northeast, Mid-Atlantic and Southeast, and CFO and COO Tim Medlock has just been appointed to the position of president.
Economy Watch: Debt Ceiling Done, Now Back to Worrying About Jobs; Non-Manufacturing Grows Slowly
In the hubbub surrounding the debt-ceiling drama, it was easy to forget that this is also the first full week of a new month, meaning there are new employment numbers — which are generally down. And the non-manufacturing index is growing, albeit slowly.
Phoenix, Orbach Snap Up Three AIG Apartment Properties for $46.5M
Phoenix Realty Group and The Orbach Group have just increased their presence in Central New Jersey’s apartment market by 472 units with the acquisition of three properties from AIG for $46.3 million.
Hotel Investment Returns, Burgeoned by Secondary Markets
While hotel investments are up across the board and some major deals have just completed, the second- and third-tier markets look to have the most activity in the upcoming months.
Moody’s: Stability, Possible Upswing in the Cards for Industrial REITs
By Philip Kibel, Senior Vice President, Moody’s Investors Service
Moody’s rating outlook for the industrial REITs is stable, although ratings could have some positive momentum over the next 12 to 18 months.
Is the Time Right for Rite Aids?
By Stanley B. Wyrwicz, Senior Managing Director, Calkain Cos.
Rite Aid has been selling corporate-owned sites through sale-leaseback transactions, and in the process has been willing to provide more favorable lease terms than its competitors.
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