Business Specialties
First Potomac Sells Stake in 1200 17th St., N.W., for $43.7M
By Adrian Maties, Associate Editor First Potomac Realty Trust last week announced the sale of its 95 percent stake in 1200 17th St., N.W., in downtown Washington, D.C., for $43.7 million as part of a larger analysis of its development pipeline. First Potomac acquired the property in a joint venture with Akridge from the National […]
Alternatively Built M-F Development Uses Upcycling as a Hook
A new trend of alternative building for multi-family developments is on the rise. This trend uses upcycling, or the conversion of waste products into new uses.
JLL Completes 163,734-SF Santa Ana Office Lease with Corinthian Colleges
Jones Lang LaSalle represented Corinthian Colleges in its lease renewal of office space in Griffin Towers, Santa Ana, Calif.
Beacon Capital Picks Up Boston’s 177 Huntington Ave. for $59M
Beacon Capital Partners has bought 177 Huntington Ave. in Boston’s Back Bay submarket. The 1972 tower used to house The First Church of Christ, Scientist, and the Trustees of Church administration department.
Henderson’s Vantage Lofts Gets $15M Restart; Ryland Homes Debuts
By Alex Girda, Associate Editor A stalled 20-acre residential development is getting new life after its acquisition by Rothwell Gornt Cos., a venture capital fund. Recently acquired out of bankruptcy, the Vantage Lofts development is set to resume construction and is slated for completion in the next six to nine months, the Las Vegas Review-Journal reported. Located at Paseo Verde Parkway and Gibson Road, Vantage Lofts (pictured at right) will require about $15 million to complete its 110-unit first phase. Company principal Richard Crighton told the Las Vegas Review-Journal the company is in the process of submitting building permit applications….
Prudential Mortgage Capital Provides $200M Loan for Refinancing of Jersey City’s Newport Tower
Prudential Mortgage Capital administered a loan to Bentall Kennedy to fund the purchase of Newport Tower in Jersey City, N.J.
MetLife Snags Bay Area Treat Towers For Reported $130M
MetLife has bought Treat Towers in the San Francisco Bay area. The property, a 10-story Class A office building, was previously owned by a joint venture with Equity Office Properties.
Manhattan’s Peter Cooper Village/Stuyvesant Town Under New Management
CompassRock is coming to the rescue of Peter Cooper Village and Stuyvesant Town and taking over the apartment complexes, effective today.
First Potomac Sells DC Office Development JV Interest for $43.7M
First Potomac Realty Trust has sold its 95 percent interest in 1200 17th St. to a Japanese buyer acting through its American subsidiary.
HFF Sells 324-Unit Class A M-F Development in Austin
HFF closed the sale of a Class A multi-housing development in Austin’s Southwest submarket, on behalf of Nevins Adams Lewbel.
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