Business Specialties
Hines Sells 2 Manhattan Trophy Towers for $1B-Plus
American Realty Advisors won the competition for 499 Park Ave., and J.P. Morgan Asset Management has acquired 425 Lexington Ave.
Canyon Capital, Citi Launch $800M Workforce Housing Fund
The partners’ new investment vehicle will target the acquisition of workforce housing in underserved communities across the country.
Economy Watch: Freddie Mac in the Black; Las Vegas Home Sales Improve
The government-sponsored enterprise reported net income of $4.6 billion for the first quarter, compared to $4.5 billion for the fourth quarter of 2012.
Duke Continues Retail Disposition Strategy, Selling Lifestyle Center for $188M
Duke Realty Corp. has sold a 391,120-square-foot lifestyle retail center in South Florida to an undisclosed buyer as it continues to reposition to mainly industrial holdings.
The Meridian Group Acquires SAIC Corporate Headquarters in Northern Virginia
The Meridian Group acquired Science Applications International Corp.’s landmark 18-acre corporate headquarters campus at Tysons Corner.
Manhattan M-F Portfolio Attracts $94.4M in Financing
A 12-property apartment portfolio in Manhattan has just been refinanced to the tune of $94.4 million, courtesy of Beech Street Capital L.L.C.
Economy Watch: Home Prices Continue Upward Trajectory; Jobs Openings Fall; Consumer Credit Rises
Home prices were up 10.5 percent, providing more evidence that the housing market is in recovery mode; jobs openings fell from 3.9 million to 3.8 million; and consumer credit saw an increase.
Carroll Org. Buys Four M-F Assets for $103M
Carroll Organization continues its shopping spree across the Southeast with the recent acquisition of four apartment communities for $103 million.
CBRE Hotels Sells Hampton Inn, Courtyard in Florida
There’s been no lack of activity in the metropolitan Jacksonville hotel market this year, and the Hampton Inn & Suites Ponte Vedra and the Courtyard by Marriott Flagler Center are among the latest properties to change hands.
BIT to Break Ground on $131M Development in Hoboken
Park Place, a $131 million, 12-story multi-family building funded by the AFL-CIO Building Investment Trust and to be developed by Bijou Properties and built by Tishman Construction, will break ground tomorrow in Hoboken.