Business Specialties
Economy Watch: Foreign Buyers, Farmland and Mortgage Disclosure
Americans might not be buying U.S. houses like they used to, but foreign buyers are in the market with both hands, according to a survey. Plus, Shiller lauds farmland, and the Consumer Financial Protection Bureau releases proposed mortgage disclosure forms.
SL Green, Vornado Maintain Majority Stake in Recapitalization of 280 Park
Broadway Partners and Investcorp have announced a recapitalization and redevelopment of 280 Park Ave. in Manhattan that retains their majority stake while placing the total capitalization of the Class A asset at an estimated $1.4 billion.
HEI Acquires Sheraton Dallas North Out of Foreclosure
HEI Hotels & Resorts has acquired the 309-room Sheraton Dallas North out of REO, directly from a lender that foreclosed on the property. It is not the only upscale hotel to have faced foreclosure recently in the Dallas-Fort Worth area, nor in fact the only Sheraton to be bought out of foreclosure in Texas recently.
JLL: Capital Markets Drive Change in San Diego
Jones Lang LaSalle said the market saw a decrease in availability for biotech real estate space as well as an increase in demand over the last two quarters of 2010.
Deloitte Symposium Waxes Positive
The general consensus was that the economy, while on a slow path of recovery with the addition of 250,000 jobs each month, is showing signs of life, though not necessarily a strong return.
PREI Breaks New Ground with Debt Fund
Prudential Real Estate Investors has completed Pramerica Real Estate Capital I, an $800 million, closed-end investment vehicle that will supply financing for deals involving European commercial real estate properties.
Fannie Mae Reveals Top Multi-Family Lenders
Performance hit a higher level in 2010, with each of the 10 lender partners each contributing a minimum of $870 million in loan volume, compared to 2009’s minimum of $700 million.
Manhattan Rental Rates to Reach Record High in 2011
Not only has the city rebounded, it has come back with a vengeance, as market-rate rents are on track to reach an all-time high this year, according to Marcus & Millichap Real Estate Investment Services’ apartment research market outlook.
TOMS Shoes Leases L.A. Building for New HQ
The progressive company, which matches each sold pair of shoes with the donation of another, has signed a lease that will facilitate its relocation to spacious quarters of nearly 70,900 square feet.
Logitech Inks 263,500-SF Lease
The firm, which works in Internet communications, digital music, home entertainment and wireless devices, will occupy the Pacific Research Center in Newark, Calif., through at least February 2023.