Business Specialties
RADCO Cos. Purchases Seven Georgia-Based M-F Properties in Two Weeks
The RADCO Cos. spent a total of $56 million on seven multi-family communities in Georgia in the closing days of 2012, adding 3,000 units to its portfolio.
Sofitel Luxury Hotels to Open New Property in Bali
Sofitel Luxury Hotels continues to expand across Southeast Asia with the addition of a new property in Bali, one of the world’s most popular holiday destinations.
Caruso Targets a Host of Properties in Central Pacific Palisades for Renovation and Rebranding
The central properties seem to have cost Caruso a total amount in the $40-$50 million range. However, the financial terms of the transaction were not disclosed to the media and an accurate number is currently not available. Most of the properties are currently tenant-free and are 50-60 years old, making them perfect for a complete overhaul. The Times points out that even the tenants in place have clauses in their short-term contracts that stipulate that the owner has the right to modify the property and redevelop the site. Continue reading →
C&W Finds Site for AS Roma’s Soccer Stadium in Rome
Acting on behalf of A.S. Roma S.p.A., Cushman & Wakefield has completed a mission in Italy, by helping identify a site for the development of a new stadium for a Rome-based soccer team.
Revel Resort Nails Down $150M in Additional Financing
Revel AC, the parent company of Revel, the newest popular resort and casino in Atlantic City, N.J., has completed an amendment to its existing revolving credit facility with JP Morgan Chase Bank N.A. as administrative agent and the participating lenders and financial institutions.
Rosemont Buys 381 KSF Nashville Office Complex
Rosemont Realty just increased its footprint in the Nashville, Tenn., office market by 381,000 square feet with the acquisition of Lakeview Place.
Indian Residential Market to Shine Stylishly via Swarovski Brand
Gateway Towers I is the latest Indian property to try and dazzle luxury seekers by associating itself with bedazzling brand giant Swarovski.
Retail Opportunity Investments Acquires $114M Grocery Anchored Portfolio
Retail Opportunity Investments Corp. has closed on three shopping centers and has a binding contract to acquire a fourth in a $114 million acquisition encompassing approximately 444,000 square feet of gross leasable space in Southern Calif.
January – Briefs/Sales & Development
Hines, Boston Properties Acquire San Fran Development Site; American Campus Communities Announces $862.8M Buy; TCC, Clarion, Rosewood Begin 1 MSF Industrial Complex; RLJ Lodging Enters Boston with $64.5M Buy; Vornado to Sell Green Acres Mall for $500M; Kennedy Wilson Buys North Hollywood Office for $48M; Hyatt Announces Bangkok Hotel; Zeckendorf Breaks Ground on $500M Condo.
Suburban Philly, Oklahoma City Retail Assets Totaling 777 KSF Reel in $103M
Not all commercial real estate investors are in a San Francisco, Washington, D.C., or New York state of mind. Premier assets in non-premier locations like Deptford Landing in Deptford, N.J., and The Shops at Moore in Oklahoma City, Okla., have moved up higher on buyers’ radar.