Nicholas Ziegler
Hersha Hospitality Trust Picks Up Philadelphia's Rittenhouse Hotel
The Rittenhouse Hotel in Philadelphia, the premier 111-room lodging destination on the city’s celebrated Rittenhouse Square, became Hersha Hospitality Trust’s first purchase of the year for the sum of $42 million.
Mixed-Use Buckhead Place Development in Atlanta Gets $50M Refi
Buckhead Place, a mixed-use development in the Buckhead submarket of Atlanta, has just seen a $50 million permanent financing arranged by CBRE’s capital markets team, which represented the development’s owner, Buckhead Place L.L.C.
Kilroy Realty Buys Bay-Area Office Park for $162M
Kilroy Realty Corp. of Los Angeles has purchased Menlo Corporate Center in Menlo Park, Calif., for approximately $162.2 million. The seven-building, 374,000-square-foot park is 79 percent occupied by 10 tenants.
Economy Watch: Unofficial Reports Point to Continued Job Growth
Employment numbers are coming, and one CNBC report found that dentists, as an industry, grew in 2010 and 2011. HUD and the Treasury released a mixed bag of data and asserted that 5.7 million mortgage modifications were started between April 2009 and the end of last month. And the specter of Greek default rises once again.
Spinnaker Begins Residential Phase of $250M St. Louis Development
Spinnaker Real Estate Partners takes the next step toward the completion of the $250 million, mixed-use Mercantile Exchange project in St. Louis, Mo., with the opening of Laurel Apartments, a 205-unit luxury residential community.
N.S.P. Ventures Purchases 236 KSF U.S. Mint Facility in D.C. for $148M
Japan-based N.S.P. Ventures has acquired 801 Ninth St., N.W., in Washington, D.C., a 236,000-square-foot building occupied in its entirety by the U.S. Mint, from the Netherlands-based Wereldhave USA for $147.5 million.
Dees Stribling's Economy Watch Weekly
Dees Stribling’s Economy Watch Weekly: In short, the economy isn’t bad. Not great, but not bad either. CPE‘s economic analyst, Dees Stribling, gives his podcast for the week ending March 2, 2012.
American Realty Capital Trust Goes Public, Lists on NASDAQ
Looking to “unlock the value of the company” for shareholders, American Realty Capital Trust Inc., the flagship REIT of a New York investment firm, began trading Thursday on the NASDAQ Global Select Market as a publicly traded, triple-net-lease REIT.
Kennedy Wilson Sells L.A. Luxury Multi-Family Building for $74M
Kennedy Wilson has sold NoHo-14, a 14-story luxury apartment building in the NoHo district of Los Angeles’ San Fernando Valley, for $74 million.
Economy Watch: Employment Picture Improved in '11
Initial unemployment claims for the week ending Feb. 25 edged down 2,000 to 351,000. According to CoreLogic, 22.8 percent of all U.S. residences suffered negative equity at the end of the fourth quarter. And construction spending saw a slight slip in January.