Razvan Cimpean
Understanding the HVCRE Bill
Reps. Robert Pittenger (R-N.C.) and David Scott (D-Ga.) introduced the H.R. 2148 bill in hopes of clarifying capital requirements for HVCRE loans. But when and if the bill will be passed in its current form is still unknown.
Frisco Retail Center Lands Financing
Victory Real Estate Group arranged a non-recourse mortgage for Victory Shops at Eldorado. The 13,600-square-foot shopping center in Frisco, Texas, is currently fully leased by a donut shop, nail salon and dentist offices.
JV Acquires 110 KSF Portland Office Building
KBS Realty Advisors and True North Management Group purchased a 109,725-square-foot asset in downtown Portland, Ore. CBRE arranged a $26.8 million, three-year term acquisition loan.
CIM, fifteenfortyseven Team Up for SF Data Center Buy
CIM Group formed a joint venture with data center builder fifteenfortyseven Critical Systems Realty to acquire a 7.3-acre property. The partners will build the first San Francisco data center in more than a decade.
Iconic Honolulu Office Asset Lands $75M Loan
TOPA Financial Center, a two-building office property, sits in the heart of downtown Honolulu. Newmark negotiated the financing on behalf of Duesenberg Investment Co., the owner of the asset.
University Research Park Welcomes New Tenant
Digital Map Products will relocate its corporate headquarters by the end of the year. In the move, the provider of cloud-based location technology will nearly double its current square footage.
San Jose Office Building Trades for $50M
Menlo Equities sold a 180,000-square-foot building in Milpitas, Calif., to Nazareth Enterprises. At the time of sale, the asset was fully leased to Johnson & Johnson Vision.
Hollywood Mixed-Use Asset Changes Hands
A New York City-based private investor acquired a 7,000-square-foot retail and office building in Hollywood, Calif. At the time of sale, the property was fully leased.
Palm Springs Retail Center Changes Ownership
A Los Angeles-based private investor sold Palm Canyon Shopping Center, a 40,000-square-foot retail asset in Palm Springs, Calif. Faris Lee Investments represented both the seller and the buyer.
Sheraton DFW Airport Hotel Fetches $46M
The Buccini/Pollin Group purchased the 302-key property in Irving, Texas, and selected PM Hotel Group to manage it. The hotel recently underwent a $7 million renovation.