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.
Kennedy Wilson Targets $2.5B in European Real Estate Loans
Beverly Hills-based Kennedy Wilson is making a new bet on Europe. It’s partnering with a European global financial institution to target the acquisition of €2 billion ($2.5 billion) of performing, sub-performing and non-performing loans secured by commercial and residential real estate in Europe, with a focus on the United Kingdom and Ireland, the company announced Monday.
Terreno Buys Three Silicon Valley Buildings for $33.7M
Terreno Realty Corp., of San Francisco, has acquired three multi-tenant industrial buildings in Sunnyvale, Calif., totaling about 172,000 square feet for a purchase price of approximately $33.7 million.
EverBank Financial to Buy GE’s Business Property Lending Unit for $2.51B
No debt will be assumed as part of the transaction, which includes approximately $2.44 billion of commercial loans, the origination and servicing platforms, 108 employees, and servicing rights on $3.1 billion of loans securitized by GE Capital. The transaction is expected to close in the fourth quarter.
Swire Breaks Ground on Brickell CitiCentre MXD in Miami
Swire Properties, of Hong Kong, broke ground yesterday on its $1.1 billion, nine-acre, mixed-use Brickell CitiCentre in downtown Miami’s Brickell financial district.
Prudential Mortgage Capital Closes its First CRE Loan in U.K.
Prudential is targeting at least $500 million of long-term, fixed-rate senior debt transactions in Europe, initially focusing on office, logistics, multi-family and retail properties in and around large population centers such as London, Paris and major German cities.
$120M Data Center Campus Announced for Metro Austin
Arista Data Centers plans to build a 500,000-square-foot, $210 million data center campus in Pflugerville, Texas, in the northeastern Austin metro area.
JLL Sells $760M Loan Portfolio for Eurohypo
Jones Lang LaSalle Capital Markets has closed the sale to US Bancorp, Wells Fargo Bank and Blackstone Group of $760 million in loans, JLL announced Tuesday.
Ventas Sells 12 Seniors Communities to Assisted Living Concepts for $100M
The transaction resolves recent litigation between the two companies and also severs the ties between them.
FTC Approves CoStar’s Acquisition of LoopNet—with Conditions
Last week’s announcement that the Federal Trade Commission had approved CoStar Group’s acquisition of LoopNet Inc. brings to fruition—almost a year to the day later—a much-noted transaction that also contains the seeds of further change not far down the road.
$600M Mixed-Use Development in Atlanta Suburb Gets Green Light
Avalon, a $600 million, 87-acre mixed-use project to be developed in Alpharetta, Ga., by North American Properties, passed its last regulatory hurdle Monday night when the Alpharetta City Council approved the development.