Scott Baltic
Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect’s Newspaper. He earned a master’s in journalism from Northwestern University’s Medill School of Journalism and has a bachelor’s from North Park University.
JLL Secures $75M for Denver-Area JP Morgan Acquisition
The seller was Blackstone, on whose behalf JLL Capital Markets had completed the sale. Deutsche Bank provided the five-year, floating-rate loan.
Downtown Seattle Office High-Rise Changes Hands
Union Investment sold the 20-story Millennium Tower, which also includes high-end condo residences. The property last traded in 2003, for $64.8 million.
KBS REIT Sells $804M Portfolio to New Singaporean REIT
The 3.2 million-square-foot buy is part of the newly formed REIT’s plan to focus on office real estate in key U.S. growth markets.
Dutch CRE Market Grows Increasingly Vibrant
Investment activity for the first three quarters of this year is up 5.6 percent over last year. The country is benefiting from the migration of companies from the U.K. ahead of Brexit, according to law firm Greenberg Traurig, which assisted with two major deals in the Netherlands earlier this year.
JV Buys FedEx Office Headquarters in Metro Dallas
A nearly $80 million purchase got PRP and AXA Investment Managers – Real Assets a fully leased building in the still-growing Legacy West project. The seller was KDC Real Estate Developments & Investments.
Caesars to Buy Indiana Gaming Operator for $1.7B
The company, in bankruptcy not long ago, seems to see the purchase of Centaur Holdings as a safe bet. Subject to regulatory approvals and other closing conditions, the transaction is expected to close in the first half of 2018.
JPMorgan Chase Commits $900K to Help Detroit Go Green
The money will target infrastructure projects, in addition to Chase branch updates for better energy efficiency. The Nature Conservancy, Eastside Community Network and Jefferson East community are some of the groups accessing the funds.
Summit to Buy Four Hotels for $164M
The company expects to spend approximately $7 million to $9 million in capital improvements over the next two years. This off-market transaction will bring Summit’s year-to-date acquisition activity to nearly $600 million.
Brookwood Buys SW Florida Office Portfolio
The new owner of the 15 buildings plans substantial investments in the properties. The assets are located in Fort Myers and Bonita Springs.
Suning to Boost Online, Offline Retail
Evergrande, China’s leading property developer, will provide commercial facilities to the company, which is planning to add 5,000 physical stores with connections to its online presence by 2018.