Business Specialties
Record-Breaking Army Land Exchange Advances Bay Area Development
With the signing of the largest-ever Reserve Property Exchange Agreement, the U.S. Army paved the way for SunCal Co.’s development of a master-planned community, Dublin Crossing, on 180 acres at Camp Parks Reserve Forces Training Area in Dublin, Calif. In return for the land, SunCal will build 152,300 square feet of new buildings for the military.
Forest City Closes $70M Loan on Baltimore Office Property
The 278,000-square-foot Class A property at 855 N. Wolfe St. is a research office property at The Science + Technology Park at Johns Hopkins University. Its tenants include the Lieber Institute for Neuroscience Research, Champions Biotechnology, Siemens and the Johns Hopkins Brain Sciences Institute and Translational Research Laboratory.
Cash, Stock and the REIT Market: Investment Opportunities Lie Ahead
Investment opportunities are increasing today, but many remain still to be realized, according to discussions during yesterday’s NYU Schack Institute of Real Estate 16th Annual REIT Symposium. Panelists noted that flexible investors may find better opportunities with a little more creativity.
Atlantic | Pacific Lands Florida Assignment
The property management firm will attempt to counter the troubles encountered by Las Olas Riverfront, a 244,667-square-foot retail and entertainment complex in Fort Lauderdale.
CalPERS to Transfer Portfolio Management
It’s not a done deal yet, but the California Public Employees’ Retirement System recently announced plans to take management responsibilities for its $570 million CalSmart mixed-use real estate portfolio from RREEF and give it to Canyon Capital Realty Advisors L.L.C. The potential reallocation is part of the public pension fund’s ongoing real estate restructuring strategy.
ProLogis Wraps Up $157M Bond Financing
The bond was secured with the 1.2 million-square-foot Parc Zama I, located outside of downtown Tokyo. In 2010, just one year after its completion, the distribution facility reached the 100 percent occupancy level.
Upside: Chauncey Mayfield Takes a Hands-On Approach to Adding Value
“I just get completely reinvigorated when I get out at a construction site,” says Chauncey Mayfield, CEO of MayfieldGentry Realty Advisors L.L.C. Yet the leader of the Detroit-based investment management firm recalls that it was not always so.
Forest City Has Busy Week
Not only did the national real estate company close a new $425 million credit facility, it completed an $851.5 million joint venture and announced that its 2010 earnings before depreciation, interest, taxes and amortization marked a record for the firm.
Real Tech with Peter Boritz: Smartphone Security
With the rise in use of iPads and smartphones in real estate, Peter Boritz of Real Data Management blogs on CPE‘s From the Inside offers advice on how to protect yourself against viruses and security breaches.
HCP’s $1.1B Offering Pays for ManorCare Purchase
In response to a stronger than anticipated interest among the investment community, the healthcare real estate REIT just announced the pricing of its public offering of 30 million shares of common stock–a marked increase over the 24 million shares announced just a day earlier–at $36.90 per share.