Business Specialties
George Smith Partners Secures $51M in Construction Financing for M-F Project in Las Vegas
George Smith Partners has arranged $51 million in construction financing for the development of Elysian at the District, a 360-unit Class-A multi-family community in Las Vegas, on behalf of a joint venture between The Calida Group and Cypress Equity Investments.
Sunrise Medical Campus Sells 3-Building Property Near Tacoma
With the assistance of Jones Lang LaSalle’s Capital Markets Group, the ownership team of Sunrise Medical One and Sunrise Medical Two sold Clise Properties for $407 per square foot.
Prologis Inks 2 Development Lease Deals in Mexico City
Global owner, operator and developer of industrial real estate Prologis Inc. has signed two development lease agreements totaling 406,000 square feet at Prologis Park Tres Rios in Mexico City.
Vornado to Sell Broadway Mall in Hicksville, NY, for $94M
Vornado Realty Trust has entered into an agreement to sell Broadway Mall in Hicksville, N.Y., on Long Island, for $94 million.
CBRE Renews, Expands Relationship with Bank of America Merrill Lynch
The strength of CBRE Group Inc.’s association with Bank of America Merrill Lynch has gotten even stronger. The commercial real estate services firm just renewed and expanded its relationship with the global financial services company to include new territory.
Silverstone Sells M-U Apartment Tower in Manhattan for $100M
Owner-developer and affiliate of Madison Realty Capital, Silverstone Property Group has sold 247 E. 28th St., also known as The Grayson, for $100 million.
Elm Associates JV to Redevelop $171M M-U Skyscraper in Downtown Dallas
A stalled effort to redevelop 1401 Elm, a vacant 52-story, 1.5 million-square-foot downtown Dallas office building, into a mostly residential tower should move forward now, following the building’s purchase by a new joint venture.
KDC to Develop 2 MSF Transit-Oriented Project in Metro Atlanta
KDC is developing a 2.2 million-square-foot corporate office development on 17 acres in the Perimeter Center area of Dunwoody, Ga.
AvalonBay Sells 268-Unit Apartment Community in Danbury, Conn., for $53M
Fifteen years after developing Avalon Valley, a 268-unit apartment property in Danbury, Conn., AvalonBay Communities has sold the asset to Ergs Konover/Outlook Holdings for $53 million.
LaSalle Picks Up London Student Housing for $70M
Leading global real estate investment manager LaSalle Investment Management has bought a Victoria Hall student housing property located in Wembley, paying $70 million – a net initial yield of 6.57 percent.