Business Specialties
CBRE Sells Jersey’s Met Center to KBS REIT Affiliate for $105M
CBRE Group Inc. has sold the 421,000-square-foot Metropolitan Center in East Rutherford, N.J. for $104.9 million to an affiliate of KBS Real Estate Investment Trust II.
Economy Watch: Led by Multi-Family, Residential Starts Spike in November
The U.S. Census Bureau reported that housing starts increased by 9.3 percent in November. As expected, the House declined to play ball with the Senate on the payroll tax cut. And investors seem optimistic about the euro — for now.
Prologis Contributes $293M to Mexican Industrial Portfolio
Prologis continues to make big moves in Mexico with the contribution of a $293 million portfolio of industrial properties to Prologis Mexico Fondo Logistico, its Mexican co-investment venture.
HFF Arranges Funding for Boston-Area Mall, Houston Hotel
In separate transactions, Holliday Fenoglio Fowler has secured refinancing for two properties: a regional mall in suburban Boston and a boutique hotel in Houston.
Midtown Opportunities Acquires 22 Acres of Land in Midtown Miami
Construction activity is on the upswing in Miami, and Midtown Opportunities L.L.C. has just purchased 22 acres to play with at the 56-acre Midtown Miami development.
Vornado, Kushner JV to Recap NYC's 666 Fifth Ave.
A new co-owner steps in at 666 Fifth Ave., a 1.5 million-square-foot office tower in Manhattan, as Vornado Realty Trust establishes a joint venture with an affiliate of the Kushner Cos.
Developers Find Financing for Projects
Developers are finding ready financing for their projects, including $66 million for a D.C. multi-family, $50 million for Las Vegas retail and $70 million for a Michigan apartment complex.
Nearly $1B in Assets Backs Jamestown Fund Launch
Capitalizing on the strength of three recent trophy acquisitions, Jamestown has moved into the public phase of its new vehicle Jamestown Premier Property Fund.
SPECIAL REPORT: What Is the Multi-Housing Environment Without Fannie and Freddie?
After the SEC’s charging of 45 Fannie and Freddie execs, what is the multi-housing world going to look like in the coming years?
NYC's Mercedes House Gets $229M in Financing
Thanks to Wells Fargo and JPMorgan Chase, Two Trees Management Co. now has a $229 million construction-financing package to commence the 850-unit second phase of the gargantuan Mercedes House complex on Manhattan’s Far West Side.