Business Specialties
Swire Breaks Ground on Brickell CitiCentre MXD in Miami
Swire Properties, of Hong Kong, broke ground yesterday on its $1.1 billion, nine-acre, mixed-use Brickell CitiCentre in downtown Miami’s Brickell financial district.
Construction Starts on $172M Marriott Tower in Downtown L.A.
Encompassing Marriott’s Courtyard and Residence Inn brands within a single 23-story tower, the $172 million project will target visitors to the Los Angeles Convention Center when it opens in the summer of 2014.
Younan Continues to Trim Leverage with Sale of Houston Asset
Prior to selling 1700 West Loop South in Houston, Younan Properties Inc. had sold $400 million worth of properties and reduced its leverage by 30 percent over the past year.
U.S. Remains Most Transparent Market as Openness Advances Globally: Jones Lang LaSalle
Nearly 90 percent of the world’s markets have improved transparency since the last survey in 2010. This year Jones Lang LaSalle is also introducing a new index for transparency in sustainability.
NAREE Special Report: Multi-Family’s New Trajectory
With vacancy rates significantly improved over the past couple of years, landlords can work to make that rent recovery happen. The national average vacancy rate in the first quarter was 5.1 percent, noted Mark Obrinsky, chief economist for the National Multi Housing Council.
In $770M Deal, DEXUS Sells 16.7 MSF Industrial Portfolio to Blackstone
Affiliates of Blackstone Real Estate Partners VII picked up the 68 assets in what is being touted as the largest industrial portfolio transaction in the U.S. so far this year.
Brandywine-Allstate JV Takes Suburban D.C. Portfolio for $120.6M
The joint venture will acquire the three-building asset in Silver Spring, Md., from Urdang’s Value-Added Fund II and Moore & Associates.
Prudential Mortgage Capital Closes its First CRE Loan in U.K.
Prudential is targeting at least $500 million of long-term, fixed-rate senior debt transactions in Europe, initially focusing on office, logistics, multi-family and retail properties in and around large population centers such as London, Paris and major German cities.
424,000-SF Lease in Place for Suburban Boston BTS
Green Mountain Coffee Roasters Inc. has signed a 424,000-square-foot lease with Gutierrez Co., effectively paving the way for development of its build-to-suit office and R&D facility at the Burlington Research Center in the suburban Boston town of Burlington.
Opus to Build New Office Building for Xcel Energy at Nicollet Mall
By Gabriel Circiog, Associate Editor The Opus Development Corporation has announced plans to build a 212,000-square-foot office building in downtown Minneapolis. The nine-story building will be built for Xcel Energy on the southeast corner of Fourth Street and the Nicollet Mall. The site is currently a private parking ramp which was built in the 1960s. […]