Nicholas Ziegler
Kilroy Makes $145M Move on Two Seattle Office Properties, Preps for $186M More
Kilroy Realty Corp. continues expanding up the West Coast, adding two Seattle-area office properties for $145 million and getting ready to close on the 24-story Skyline Tower in downtown Bellevue, Wash., for $186 million.
Economy Watch: CoreLogic Says Home Prices Inching Up; Spain Loses Access to Capital Markets
U.S. home prices, including distressed sales, increased by 1.1 percent on a year-over-year basis in April. The non-manufacturing index rose slightly in May from April, remaining in positive, expanding territory. And Spain’s budget minister reported that the country has lost access to capital markets because the costs of borrowing are too high.
CommonWealth Buys Trophy D.C. Building from Shorenstein for $198M
Hamilton Square, a former department store repurposed into an office building situated only a block from the White House, has been purchased by CommonWealth Partners from Shorenstein Properties for $198 million.
Fountain Residential Breaks Ground on Luxury Student Housing at University of North Texas
Work has gotten underway on 33 North, a premier 427-bed student housing community just a stone’s throw from the University of North Texas in Denton. Fountain Residential Partners, in conjunction with Crosswind Development Partners, is behind the project.
Invesco Spends $141M on NYC’s 130 Prince St.
Waterman Interests has turned a nearly $30 million profit on its asset at 130 Prince St. in New York City, selling the building for $140.5 million to Invesco after purchasing the property in 2007 for $112 million.
Economy Watch: A Long, Hot Summer for the Euro Zone; Gas Prices Continue to Slide
On Wednesday, the European Central Bank’s governing body is going to meet to consider a rate cut from the current 1 percent – and Greek and U.K. changes will happen in the upcoming months. The Employment Trends Index showed some growth in May. And the rocky road to recovery at least comes with a silver lining in lower gas prices.
O&S Holdings Sells 603 KSF Mixed-Use Bridge Street Town Centre in Alabama
Five years after developing Bridge Street Town Centre as part of the mixed-use Bridge Street development in Huntsville, Ala., O&S Holdings has sold the 600,000-square-foot lifestyle center to Miller Capital Advisory.
Emerging Trends: CRE Profitability, Lending Look Bright for Remainder of 2012
The Urban Land Institute and PricewaterhouseCoopers have released the results of the annual Emerging Trends in Real Estate survey — and the responses point to a stronger commercial real estate outlook for the remainder of 2012, with a general trend toward a bullish CRE industry.
Marriott’s $210M Gaylord Purchase Brings Structural Changes
Gaylord Entertainment of Nashville has agreed to sell its Gaylord Hotels brand and the management rights to its four hotels to Marriott International for $210 million in cash. The deal hinges on Gaylord’s transition to a REIT structure, which will be decided at a shareholder meeting in August.