Nicholas Ziegler
CBRE Lines Up $181M Financing for D.C. Office Project
CBRE Capital Markets has arranged $181 million in financing for the first two phases of Sentinel Square, an office development in Washington, D.C., that will eventually total 1.3 million square feet. CBRE arranged the funding on behalf of Trammell Crow, Crow Holdings Capital Partners and Cottonwood Partners.
Digital Realty Trust Adds 819 KSF of Data-Center Property for $123M
Continuing on its pattern of purchasing high-quality data centers, Digital Realty Trust has made the acquisition of the 819,000-square-foot Convergence Business Park in Lewisville, Texas, just outside of Dallas. The 168-acre complex, which is fully operational and features office space, was purchased for $123 million.
Economy Watch: Pending Home Sales Edge Up
The NAR’s Pending Home Sales Index was up two points in January. Warren Buffett called single-family homes “a very attractive asset class.” And the market for Italian debt began to abate after the sale of $16.5 billion worth of six-month notes.
Ventas to Sell 64 Healthcare Assets
Ventas Inc. has announced plans to market 64 healthcare properties, which generate $77 million in annual rent and are presently leased to Kindred Healthcare Inc.
EdR, Landmark Properties to Develop Student-Housing Community at Ole Miss
EdR and Landmark Properties have committed to joining forces on the development of a 668-bed student housing property near the University of Mississippi in Oxford. The project, which will sit in a residential neighborhood approximately one mile from campus, will cost $36 million to develop.
Sears' Store Sales, Rights Offering 'A Brilliant Move'
In the wake of the announcement that Sears would be selling 11 stores to General Growth Properties and spinning off two of its brands, industry sources called the actions “a brilliant move.”
NAR: Commercial Vacancy Rates Improving, Rents Firming
In its quarterly Commercial Real Estate Market survey, the National Association of Realtors predicts a widespread fall in vacancy rates for nearly all property types, with multi-family continuing to lead the way.
Economy Watch: Consumers Feeling Better
Consumers continue to feel more upbeat about the economy, according to the latest Reuters/University of Michigan Survey of Consumers. New-home sales were down 0.9 percent in January. And the G20 wants Germany to contribute more to a bailout fund.
Dees Stribling's Economy Watch Weekly
The euro zone crisis is over — until the next problem — and the U.S. economy looks comparatively good. CPE‘s economic analyst, Dees Stribling, gives his podcast for the week ending Feb. 24, 2012.
Midway, Pension Fund JV on 119 KSF Houston Office-Building Purchase
Midway Cos. and its joint venture partner, a pension fund client advised by L&B Realty Advisors, have sold part of the office segment of their 1.8 million-square-foot City Centre mixed-use development in Houston.