Business Specialties
Grubb & Ellis Healthcare REIT Grabs Medical Office Portfolio
Grubb & Ellis Healthcare REIT II Inc. added 10 medical office buildings spread out among eight properties to its portfolio with the acquisition of the Dixie-Lobo Medical Office Building Portfolio.
Economy Watch: Fewer Homes in Foreclosure, Housing Sales Drop, Leading Indicators Fall
U.S. mortgage foreclosures dropped during the first quarter of 2011 compared with the last quarter of 2010, while existing home sales declined 0.8 percent to an annualized rate of 5.05 million units in April and the Leading Economic Index also declined.
ULI Report: Office Developers Shy Away from Spec Developments
Office-development experts agreed that in-place assets are preferable to speculative development.
Lingerfelt Snaps Up Liberty Property Portfolio for $100M
Lingerfelt Cos. increased its large presence in the greater Richmond, Va., area by a whopping 919,000 square feet in one fell swoop with the purchase of a 14-building office and flex portfolio from Liberty Property Trust.
UC Davis Near Completion on First Phase of Massive Zero Net Energy Community
Work is nearly complete on the first phase of UC Davis West Village, which the university is calling the “largest planned zero net energy community,” in the country. That means that the property will ultimately generate at least as much, and possible more power than it consumes.
Behringer Harvard Sells 390-Unit San Francisco Apartment Property for $110M
Behringer Harvard just sold Waterford Place, a 390-residence apartment community in Dublin, Calif., for approximately $110 million. But it remains interested in the San Francisco market.
Economy Watch: Foreign Buyers, Farmland and Mortgage Disclosure
Americans might not be buying U.S. houses like they used to, but foreign buyers are in the market with both hands, according to a survey. Plus, Shiller lauds farmland, and the Consumer Financial Protection Bureau releases proposed mortgage disclosure forms.
SL Green, Vornado Maintain Majority Stake in Recapitalization of 280 Park
Broadway Partners and Investcorp have announced a recapitalization and redevelopment of 280 Park Ave. in Manhattan that retains their majority stake while placing the total capitalization of the Class A asset at an estimated $1.4 billion.
HEI Acquires Sheraton Dallas North Out of Foreclosure
HEI Hotels & Resorts has acquired the 309-room Sheraton Dallas North out of REO, directly from a lender that foreclosed on the property. It is not the only upscale hotel to have faced foreclosure recently in the Dallas-Fort Worth area, nor in fact the only Sheraton to be bought out of foreclosure in Texas recently.
JLL: Capital Markets Drive Change in San Diego
Jones Lang LaSalle said the market saw a decrease in availability for biotech real estate space as well as an increase in demand over the last two quarters of 2010.