Business Specialties
Economy Watch: Spain Asks for Help, Gets $125B for Banks; Multi-Family Market Shows Improvement
On Sunday, Spain became the largest of the euro-zone countries to request a bailout, and European finance ministers agreed that banks of the beleaguered nation could receive up to $125 billion in funds to keep them afloat. Domestically, the multi-family market saw some gains, indexing the highest construction rating since 2005.
Distress Symposium Report: Opportunities Knock, but Change Must Come
The Distressed Debt & Assets Symposium, produced by Deloitte in partnership with New York University’s Schack Institute of Real Estate, saw panelists discuss how the lending landscape can improve, but only with “a commitment to change.”
Grandbridge Originates $121M Financing on D.C.-Area Multi-Family Building
Grandbridge Real Estate Capital originated a $121.1 million first-mortgage loan for the acquisition of The Buchanan, a 442-unit multi-family high-rise in Arlington, Va.
FEMA Funds New Orleans SPCA Facility with $8M
By Eliza Theiss, Associate Editor The Federal Emergency Management Agency (FEMA) has announced close to $8 million in consolidated funding to the Louisiana Society for the Prevention of Cruelty to Animals (SPCA) for a new animal control facility. The old Louisiana SPCA center was located at 1319 Japonica St. and sustained extensive damage during Katrina. […]
Archstone Starts Work on 227-Unit North Arlington Project
By Adrian Maties, Associate Editor Archstone, a recognized leader in apartment investment and operations, started work on June 5 on a brand-new 227-unit apartment community in North Arlington, one of the most affluent neighborhoods in the Washington, D.C., metropolitan area. The project is named Parkland Gardens. The development site is located at the intersection of […]
Perceptive Software Inc. and FMH CoreSource Announce Plans to Relocate
By Gabriel Circiog, Associate Editor Perceptive Software Inc., a Lexmark company, has announced plans to relocate from its headquarters at Shawnee Mission Parkway and Kansas Highway 7 to Lenexa City Center. The company, which indicated that it has outgrown its current location, submitted its proposal to Lenexa officials, The Kansas City Business Journal reports. According […]
Alexandria Signs 187 KSF of Life-Science Office Leases Near Boston
Metropolitan Boston continues to bustle and Alexandria Real Estate Equities is profiting from the activity, having just closed six leases totaling approximately 187,000 square feet at its Alexandria Park at 128 complex in suburban Boston’s Route 128 submarket.
Orlando-Area Apartment Community Acquired by McCann Realty
Vista at Lost Lake Apartments, a five-year-old, 276-unit, garden-style rental community just outside Orlando, has been acquired by Richmond, Va.-based McCann Realty Partners. The property will be managed by Atlanta’s Pegasus Residential.
Parkway Sees $200M Equity Investment, Purchases 972 KSF Charlotte Office Tower for $250M
Aided by a $200 million equity investment from private investment firm TPG, Parkway Properties completed its purchase of Hearst Tower, a 46-story, 972,000-square-foot office tower in downtown Charlotte, N.C., for $250 million.
CNL Healthcare Trust JVs with Sunrise Senior Living on Seven-Property, $226M Agreement
CNL Healthcare Trust has signed an agreement with Sunrise Senior Living to enter into a joint venture that will change ownership of seven communities valued at approximately $226 million. Under the agreement, CNL will own 55 percent of the JV, with Sunrise retaining the remaining interest.