Business Specialties
C&W: Manhattan Market Looking Better, Leasing Doubles Year over Year
Manhattan’s Class A vacancy rate dropped to 11.6 percent in June from 12.6 percent at the end of the first quarter, while the overall Midtown Manhattan vacancy rate declined to 11.5 from 12.6 percent. Those figures entail all sectors of real estate.
Santa Monica-Based Douglas Emmett Closes Fund with Half-Billion Dollars to Invest
Leverage notwithstanding, Douglas Emmett Inc. has closed the subscription period to its Fund X with equity commitments totaling approximately $549.3 million. The Santa Monica, Calif.-based REIT has invested $191 million of its own into the institutional fund.
Buchanan Puts Up $21M for First Mortgage on Luxury Apartment Complex in Northern California
Aqua Via is located near Jack London Square, a hallmark of Oakland currently undergoing a $375 million redevelopment. It is also located close to public transportation, including AC Transit buses and Amtrak trains.
Mesa West Raises $600M for Real Estate Fund
The fund is designed to directly originate bridge financing with an emphasis on first mortgage debt for middle-market transitional and value-add properties in the Western United States as well as select gateway cities on the East Coast.
Investcorp Sells $100M First Mortgage on D.C. Coast Guard HQ
The mortgage, which is due in 2014, was sold to the Talos Capital Limited for an undisclosed price.
GPE Management Boosts Property Management Team
Mark Carrell and Shirley Hawley have joined GPE Management Services, bringing nearly half a decade of combined property-management experience to the Scottsdale, Az.-based firm.
Colliers Makes Move to Downtown Dallas
Developer Granite Properties has announced several leases totaling more than 70,000 square feet at its office tower at Park Seventeen in Uptown Dallas, including 26,874 square feet leased by Colliers International on the ninth floor.
FedEx Takes 146,792 SF in Houston
KDC has leased the space to the express shipping services company, which will relocate 250 employees to the 50-acre center beginning Oct. 1.
VA Breaks Ground on New Orleans Hospital Designed for Future Katrinas
Five years after Hurricane Katrina, New Orleans is still reeling from the devastation wrought by the disaster, but a massive federal project aims to make a major contribution to the recovery.
As New Pools Emerge, High Rate of Special Servicing Marks Maturing CMBS: Fitch
One-fifth of the CMBS loans scheduled to mature during the second half of 2010 are in special servicing, according to a mid-year analysis by Fitch Ratings.