Business Specialties
Sale of US Bank Tower Marks Shift in Downtown LA Market
The newly announced purchase of US Bank Tower, the tallest building in California, is not only a major transaction in itself, at $367.5 million, but also a deal that could send some reverberations through the downtown Los Angeles office market.
Bixby Office Park Acquired for $85 Million; TIAA-CREF Expands Portfolio With Industrial Purchase
It was recently announced that the Bixby Office Park was recently acquired by a private, fully-integrated real estate investment company. Parallel Capital Partners sealed a deal worth approximately $85 million to secure the commercial asset in Seal Beach, CA. This constitutes the largest office transaction in Orange County in 2013. The seller was a large national insurance company, represented by an Eastdil Secured team consisting of Adam Edwards and K.C. Scheipe. The buying entity was PCPI BIXBY LP, an affiliate of Parallel Capital, who represented itself. Continue reading →
TGM Buys Two-Property M-F Community in Chicago Area for $101M
New York-based multi-family investor TGM Associates has purchased TGM Willowbrook, a two- and three-story garden property, totaling 712 units in 76 buildings, located in Willowbrook, Ill., for $101 million.
Inland American Buys Student Housing in Fort Worth
Inland American Communities has purchased The VUE, a high-end student housing property one block from the Texas Christian University campus in Fort Worth.
1031 Exchanges: Common Mistakes in the Use of Qualified Intermediaries
What to watch out for when using a qualified intermediary in transacting a 1031 exchange.
Rouse Wraps Up $65M Refinancing of 900 KSF Suburban Tampa Mall
On the matter of loan maturities, Rouse Properties can check 2013 off its list.
Melbourne’s Largest Office Tower in 25 Years Purchased for $462M
Real estate investment trust IOF has announced the acquisition of a premium office project in Melbourne in partnership with Investa Commercial Property Fund.
Walgreens to Build Nation’s First Net-Zero Energy Retail Store in Evanston, Ill.
Walgreens is building a net-zero energy store in Evanston, Ill., that will use solar and wind power, geothermal heating and cooling and other energy-saving technologies to generate electricity and reduce its usage by more than 40 percent.
Hines REIT Pockets $412M on Sale of Houston’s 1.4 MSF Williams Tower
Hines Real Estate Investment Trust brings its ownership of the landmark Williams Tower in Houston to a lucrative end with the $412 million sale of the 1.4 million-square-foot office property to Invesco Real Estate.
Hines Global REIT Acquires Two Overseas Properties for $215M
Hines Global REIT spent more than $215 million on two office properties in the past week, one in London and the other in Sydney, as it continues to expand its international portfolio.