Business Specialties
Madison Spends $123M for 57 Percent Share in Iconic Frankfurt Office Complex
Madison International Realty of New York, together with its German subsidiary Madison Real Estate, has signed a purchase agreement for Morgan Stanley P2 Value’s 56.95 percent interest in the Trianon complex in Frankfurt — for a reported $123 million.
Post Brothers Secures $52M Loan for Philly Multi-Family
Residential developer Post Brothers has obtained a $52 million loan for Post Rittenhouse Hill L.P. to complete the redevelopment of the Rittenhouse Hill multi-family property in the Germantown section of the city. The loan was funded by an undisclosed European bank.
Verus Partners Breaks Ground on 138 KSF Indiana Industrial Facility
On the heels of industrial development nationwide, Verus Partners is breaking ground on a 137,500-square-foot new manufacturing-and-distribution facility for Helmer Inc. that will be located across 10 acres in Noblesville, Ind.
Auto Showroom, Brewery Project Planned for Southern Texas
By Camelia Bulea, Associate Editor HOLT CAT and Alamo Beer Co. both announced projects last week in Southern Texas. HOLT CAT broke ground on a 24,000-square-foot store in the Los Lomas Industrial Park in Laredo, according to the San Antonio Business Journal. The new facility will be certified LEED Gold for efficiency. The new store […]
South Market Slowly Moves Forward
By Eliza Theiss, Associate Editor The New Orleans Industrial Development Board is advancing discussions with developer Domain Cos. regarding possible tax abatements for South Market District, the mixed-use project planned near the Loyola Avenue Streetcar line. Domain is requesting a PILOT (or payment in lieu of taxes) of $114,000 a year for 15 years from the […]
682 KSF Pennsylvania Office Park Gets $45M Refi
Cedar Crest Professional Park, a 682,000-square-foot professional office campus just outside of Allentown in Pennsylvania’s Lehigh Valley, has been refinanced to the tune of $45 million by MRA Realty Advisors on behalf of Cedar Crest Professional Park VII.
Wells Core REIT Purchases 10-Story, 268 KSF Office Building in D.C. Submarket
Wells Core Office Income REIT of Norcross, Ga., has acquired a 10-story Class A office property in Herndon, Va., near Dulles International Airport outside Washington, D.C.
HFF Founders, Top Execs Join CBRE
CBRE made four huge personnel pickups: Harold Holliday, John Fenoglio, David Aaronson and James Richards will join the firm as executive vice presidents. All four will be based in the Houston office and will work on debt and equity-financing deals for clients in the region.
JLL Completes Construction of $536M Medical Facility in Indiana
Jones Lang LaSalle Inc.’s job as program manager for the development of Parkview Health’s Parkview Regional Medical Center is done, now that construction of the 975,000-square-foot hospital in Fort Wayne, Ind., has reached completion. The big-ticket project came with an equally big price tag of $536 million.
Glimcher Plans to Acquire Blackstone's Interest in 1 MSF Hawaii Retail Center
In a transaction valued at approximately $289.4 million, Glimcher is looking to acquire the 80 percent indirect interest in Pearlridge Center, a 1 million-square-foot shopping mall in the community of Aiea, in metropolitan Honolulu.