Business Specialties
G&L Realty Gets $264M Refi for Southern Calif. Medical Portfolios
US Bank provided Beverly Hills-based G&L with $176.5 million in financing for five medical office and retail properties in the Golden Triangle district of Beverly Hills, plus a $63.5 million loan for a portfolio of three medical office buildings in other major Southern California submarkets.
Inland, MAB Launch $325M Retail Development Plan for Southeast
The joint venture’s five-year development plan will target demographically strong metropolitan areas in the Carolinas, Georgia, Florida, Virginia and Washington, D.C., and is expected to result in the construction of as many as 20 new grocery-anchored shopping centers.
NRP to Develop 348-Unit Apartment Community in Ohio
The NRP Group is developing The Vue, a new four-story, 348-apartment community in Beachwood, Ohio.
Law Firm Renews Lease of 150 KSF Silicon Valley Office Building
Fenwick & West is staying put in its Silicon Valley digs at 400 Castro St. in Mountain View, Calif., for the long term. The law firm recently renewed its lease of every single square foot of office space at the 150,000-square-foot property with owner Tishman Speyer, making its downtown address permanent for the next 15 years.
SL Green Acquires Interest in Manhattan’s Embattled 650 Fifth Ave.
A joint venture between SL Green Realty and Jeff Sutton has acquired a 49-year leasehold interest covering the retail portion of 650 Fifth Ave., an office tower with decades-long ties to the Iranian government and now in legal limbo as a result.
HFF Secures $54M Construction Loan for San Antonio’s Historic Joske’s Building
Joske’s Building at the RiverCenter Mall in San Antonio is ready for its redevelopment. Ashkenazy Acquisitions Corp., owner of the historic 500,000-square-foot property, has obtained a $54 million construction loan to finance a rebirth.
Strategic Storage Trust Acquires 9 Facilities for $64M
In separate transactions, Strategic Storage Trust acquired five self-storage properties located in the greater Dallas/Fort Worth and Midland, Texas markets and four self-storage properties located in Alabama and Tennessee, for a total of approximately $64 million.
JLL’s ‘Space Exchange’ Helps Cos. Participate in Brave New World of Workplace Mobility
Jones Lang LaSalle is preparing for a more flexible work world, in which employees work both onsite and offsite, as opposed to being limited to a single office, by launching a new Internet resource called Space Exchange.
Alliance Partners Buys 482 KSF Office Tower in Nashville from Parmenter
Alliance Partners has purchased Nashville City Center, a 482,400-square-foot, 27-story office building, from Parmenter Realty Partners.