Nicholas Ziegler
Figuring Out What’s Up With Lenders
By Bob Bach, Senior Vice President & Chief Economist, Grubb & Ellis Co.
There’s much to be said about how investor appetite has dropped in recent months, but what about the lending side?
Multi-Housing Construction Currently En Vogue
By Charles Halladay, Associate Director, Holliday Fenoglio Fowler L.P.
During 2011, unlike any of the other four major product types, the multi-housing sector has witnessed an unprecedented shift to development.
Despite Hiccups, Global Markets Show Positive Moves
Despite today’s news from Greece, a number of studies and reports have closely monitored the world economy from a capital perspective, and results have been mixed. But, on closer inspection, real estate investment has been surprisingly resilient.
UDR Completes Acquisition of NYC’s 21 Chelsea
UDR Inc. has just closed on the purchase of 21 Chelsea in New York City. The multi-family REIT acquired the 210-unit luxury apartment property for $138.9 million, including the assumption of $31 million of existing debt.
NYC Mayor Reveals Luxury Plans for Hudson Yards Development
Luxury goods manufacturer Coach Inc. has become the catalyst for the first building at Hudson Yards, the 26-acre mixed-use project that will serve as the jumping-off point for the reinvention of the entire 300-acre neighborhood on the West Side of Manhattan.
L.A.-Based Lee & Associates Opens NYC Doors, Merges with Sierra
L.A.-based Lee & Associates, in a merger with Sierra Realty, opened its first office in New York City and will be focused primarily on the retail sector but will look to make headway into office leasing.
Clearview, Oaktree Purchase 387-Room Renaissance Atlanta Airport Hotel
An investment group consisting of Clearview Hotel Capital and a real estate fund managed by Oaktree Capital Management L.P. has picked up the 387-room Renaissance Concourse Atlanta Airport Hotel.
Economy Watch: Greece Surprises the World Again
Greek Prime Minister George Papandreou proposed a referendum on banks’ debt deal with his country. The Fed began its official review of foreclosures caused by robo-signing and other inconsistencies. And construction spending increased slightly in September.
$500M Alexandria Center in Cambridge, Mass., Breaks Ground
Alexandria Real Estate Equities Inc. has just broken ground on the first phase of a $500 million, 1.7 million-square-foot science-and-technology compound in Cambridge, Mass., to be called Alexandria Center at Kendall Square.
Harrison Grabs 8 Seniors Properties for $125M
Harrison Real Estate Capital, on behalf of Harrison Street Real Estate Partners III L.P., has just completed an off-market transaction for an eight-property seniors-housing portfolio for approximately $125 million.