Business Specialties
American Realty Capital Closes $235M Secured Loan
Lenders are looking favorably on some real estate companies, and American Realty Capital Trust Inc. is one of them. The company recently closed a $235 million senior secured loan through Wells Fargo Securities L.L.C.
UMKC Releases Downtown Arts Campus Studies
By Gabriel Circiog, Associate Editor The University of Missouri-Kansas City announced it has narrowed down the search for the future location of the Downtown Campus for the Arts to three potential sites. As previously reported by Commercial Property Executive, the planned downtown art campus, which is set to feature in the first stage a new […]
North Las Vegas Welcomes SpringHill Suites by Marriott
By Alex Girda, Associate Editor For North Las Vegas, any bit of good news is welcome in market that continues to struggle. Recently SunWest Commercial provided a breath of fresh air in the form of a 94-key SpringHill Suites by Marriott, the first new local hotel in more than four years. Located near Interstate 15 […]
Maturing 2007 Loans Drive CMBS Delinquency to Record 10.16%, According to Trepp
Only 28 percent of the loans originated in 2007 that were due to mature in 2012 have managed to pay off in full, according to Trepp.
LEED-ing the Way
By Jennifer Easton Commercial office has always been a dominant space type among LEED-certified projects. While commercial buildings used to be concentrated in the new construction sector, the USGBC has seen a growing ubiquity of green building retrofits and renovation projects. At the end of last year, we announced that LEED-certified existing buildings began surpassing new construction projects. This shift indicates that the stigma that green buildings must be built new is disappearing—and with good reason. With landmark projects like the Empire State Building completing successful retrofits (the project saved $2.4 million in energy costs the year following its LEED…
EverBank Financial to Buy GE’s Business Property Lending Unit for $2.51B
No debt will be assumed as part of the transaction, which includes approximately $2.44 billion of commercial loans, the origination and servicing platforms, 108 employees, and servicing rights on $3.1 billion of loans securitized by GE Capital. The transaction is expected to close in the fourth quarter.
Weingarten Snaps Up 171KSF Shopping Center on L.A.'s Sunset Strip for $99M
Transactions such as the 8000 Sunset purchase are a major component of Weingarten’s current strategy of enhancing the profile of its portfolio.
BOMA Special Report: Energy Efficiency Measures Deliver Outsized Income Gains
Building owners and managers should look at even modest energy efficiency upgrades as a three-legged stool supporting stronger net operating income, says Patty Anderson of the McKinstry sustainability consulting firm.
Economy Watch: Home Prices Up 2%, Construction Spending Increases 7%, Manufacturing Index Drops Below 50% Again
CoreLogic predicts that prices will continue to rise, perhaps by as much as 1.4 percent in June counting distressed properties, and 2 percent without them. On the construction front, private projects accounted for the entire increase, experiencing a 1.6 percent month-over-month uptick. Government construction spending dropped 0.4 percent compared with April.
Starwood Capital Closes $1B Purchase of Seven Westfield Malls
Starwood Capital Group is now 6.6 million square feet larger. The global private investment firm recently wrapped up its acquisition of a 90 percent stake in seven shopping centers from Sydney, Australia’s Westfield Group in a transaction valued at just over $1 billion. DDR’s Scott Wolstein will spearhead the new division.