Business Specialties
Cousins Buys Houston’s Post Oak Central, Atlanta’s Terminus Properties
Atlanta-based real estate company Cousins Properties acquired Post Oak Central, a Class A office complex in the Galleria submarket of Houston, for $233 million from institutional investors advised by J.P. Morgan Asset Management. The company also bought the Terminus 100 and 200 towers in Atlanta’s Buckhead market.
Hyatt to Take Over as Operator for L.A. Hotel Downtown as Hospitality Giant Continues L.A. Push
L.A. Hotel Downtown is a 491-key hospitality property in the central part of Los Angeles, and the move by Hyatt to take over as operator of the facility is part of a more aggressive stance the hotel operator has been enforcing in the greater Los Angeles area. It was recently revealed that Hyatt would be the new operator of the Century Plaza Hotel in Century City, another major hotel renovation project, covered here. Continue reading →
SPECIAL REPORT: Fannie Mae Stresses Loan Quality, Risk-Sharing & Profitability for U.S. Taxpayers
Fannie Mae’s priority in 2013 will be to continue focusing on loan quality, said Jeffrey Hayward, senior vice president, Head of the Multifamily Mortgage Business, Fannie Mae.
SPECIAL REPORT: MBA Predicts M-F Funding Market Share May Fall Slightly in 2013
Mortgage originations for commercial properties will increase by 11 percent in 2013, the Mortgage Bankers Association (MBA) forecasted. Multifamily financing may tick down this year as capital supply to the other commercial real estate sectors make a comeback.
Blackstone to Buy UBS’s Majority Stake in 40-Property Retail Portfolio
Blackstone Group L.P. is on the verge of snapping up a majority interest in 40 high-quality shopping centers. UBS, which co-owns the collection of U.S. retail properties with Kimco Realty Corp., will sell its controlling interest to Blackstone for $1.1 billion.
Brookfield Refinances 355 KSF DC Office Building
Brookfield Real Estate Opportunity Fund I has received a $95.5 million first mortgage loan for 64 New York Avenue NE, a 355,000 square-foot office building in Washington D.C.
C&W Expands Mid-Atlantic Presence with Harrisburg, Pa., Office
Cushman & Wakefield is bolstering its presence in the busy I-81 corridor of Central Pennsylvania with the opening of a new office.
SPECIAL REPORT: Liquidity Returns to Commercial Real Estate
The commercial real estate financing industry cautiously greeted the rapid return of liquidity into the sector during the Mortgage Bankers Association’s 2013 Commercial Real Estate Finance/Multifamily Housing Convention & Expo.
IDS, Clarion Buy 70 Acres in Suburban Seattle for Industrial Park
IDS Real Estate Group and Clarion Partners have just acquired a 70-acre site in Kent, Wash., for the development of Stryker Business Center at Pacific Gateway, an industrial complex that will encompass as much as 1.5 million square feet of premier space.
Thor, ASB Close on Manhattan Retail/Office Building for $97M
In the latest of several Manhattan acquisitions for both companies, though their first together, a joint venture of Thor Equities and ASB Real Estate Investments’ Allegiance Real Estate Fund has purchased a five-story, 60,000-square-foot property at 875 Washington St. in Manhattan’s Meatpacking District for $97 million.