Business Specialties
Jones Lang LaSalle Chosen by Howard Hughes Medical Institute as Facilities Manager for D.C.-Area Research Center
The Howard Hughes Medical Institute has selected Jones Lang LaSalle to provide facilities management at its 689-acre Janelia Farm Research Campus in Loudoun County, Va., about eight miles north of Dulles International Airport.
Economy Watch: Economy Growing, but Not Gangbusters
The latest Beige Book found that, while the economy is growing, it’s not growing very quickly. And during the report’s release, Bernanke made no hints to Congress regarding QE3. Restaurant owners reported the third consecutive month of expansion.
Distressed Debt & Asset Update: Is CMBS Here to Stay?
CMBS debt represented more than one-third of total outstanding commercial real estate debt at the height of the market in the mid-2000s, and is once again being looked upon as a potential solution to help solve existing distressed-asset issues and manage significant looming debt maturities.
Transwestern Takes 230 KSF Management Contract from Seagis
The South Florida office of Transwestern has added 230,000 square feet of Miami-area industrial space to its responsibilities, courtesy of a new leasing assignment from Seagis Property Group L.P.
AREA Property Partners Takes 1,180-Unit Virginia Apartment Complex
AREA Property Partners, after targeting the Alexandria, Va., area late last year for apartment buys, is back in the area. The firm has purchased the city’s EOS 21, a 1,180-unit community, for an undisclosed price.
Campus Living Villages Completes University of Delaware Student-Housing Refi
Campus Living Villages, a specialist in student housing, has completed the refinancing of Studio Green, a 704-unit, off-campus residential property near the University of Delaware, through C-III Capital Partners.
NY Fed Spends $208M on Downtown Office Building
The Federal Reserve Bank of New York is picking up a building in which it is the primary leaseholder, purchasing the property at 33 Maiden Lane in Downtown Manhattan for $207.5 million from Merit US Real Estate Fund III L.P.
SL Green Closes Sale of NYC's 390 KSF 10 E. 53rd
SL Green continues its busy year with the $252.5 million purchase of the 390,000-square-foot office tower at 10 E. 53rd St. in Midtown Manhattan. The REIT followed the closing with the sale of a 45 percent interest in the Class A building to Canada Pension Plan Investment Board for $57.4 million.
CBRE Lines Up $181M Financing for D.C. Office Project
CBRE Capital Markets has arranged $181 million in financing for the first two phases of Sentinel Square, an office development in Washington, D.C., that will eventually total 1.3 million square feet. CBRE arranged the funding on behalf of Trammell Crow, Crow Holdings Capital Partners and Cottonwood Partners.
Digital Realty Trust Adds 819 KSF of Data-Center Property for $123M
Continuing on its pattern of purchasing high-quality data centers, Digital Realty Trust has made the acquisition of the 819,000-square-foot Convergence Business Park in Lewisville, Texas, just outside of Dallas. The 168-acre complex, which is fully operational and features office space, was purchased for $123 million.