Business Specialties
$60M M-F Project Green-Lighted for Raleigh’s Apartment Hungry Gen-Y
SkyHouse Raleigh, a 320-unit luxury high-rise, will soon sprout up downtown now that Novare Group, Batson-Cook Development Co. and Edison Land have issued a notice to proceed for the $60 million project.
Oxley Buys 40-Acre M-U Site in London
Singapore-listed property developer Oxley Holdings Ltd. has acquired Royal Wharf, the largest mixed-use site in London since Battersea Power Station.
ULI Special Report: DC Falls in Investors’ Eyes
The 2014 Emerging Trends in Real Estate report contained few surprises, but traditionally durable Washington, D.C.’s drop to No. 22 in the ranking of cities with the best investment activity speaks volumes about the uncertainty the federal government has produced.
PhoenixMart Global Commerce Center Breaks Ground in Arizona
Construction has begun on PhoenixMart, a $150 million, 1.7 million-square-foot global commerce center in Casa Grande, Ariz., expected to bring more than 9,000 jobs to the region.
MWest Spends $200M for 825 KSF Office, R&D Portfolio in Silicon Valley
MWest Properties’ Silicon Valley footprint just grew by 825,000 square feet. The company, a year-old venture comprised of DivcoWest, Ivanhoé Cambridge and TPG Real Estate, has acquired a three-campus portfolio encompassing 12 R&D and corporate office buildings in San Jose, Calif.
Columbia Property Sells 4 MSF Office Portfolio to Griffin Capital
For Columbia Property Trust, the $521 million sale of an 18-property office portfolio is part of its strategy to refocus on major markets. For Griffin Capital Essential REIT, which acquired the 4 million-square-foot portfolio, it nearly doubles the REIT’s holdings.
Meridian, Beech Street Arrange $90M in Financing for M-F Portfolio in Orange County, Calif.
Real estate finance and advisory firm Meridian Capital Group joined forces with mortgage banking company Beech Street Capital to better position themselves for arranging refinancing for a 982-unit multi-family portfolio in Orange County, Calif.
Silverstein, Loeb Get $85M in Financing for Manhattan’s 529 Fifth Ave.
Silverstein Properties and Loeb Partners Realty have received a seven-year, $85 million loan from Wells Fargo for 529 Fifth Ave. in New York City.
Investcorp Acquires Office, Retail Assets Worth $250M
Investcorp, a global provider and manager of alternative investment products, continues an active year with the acquisition of office and retail assets in the greater Chicago, Los Angeles, Minneapolis and New York areas valued at $250 million.
Avison Young Expands in Metro DC with McShea Acquisition
Toronto-headquartered Avison Young’s aggressive, methodical growth plan continues as the CRE services firm increases its footprint in metropolitan Washington, D.C., with the acquisition of McShea & Co.