Business Specialties
BioMed Realty Prices $400M Public Offering
Some of the proceeds from the offering will be directed toward the partial repayment of borrowings under BioMed Realty L.P.’s $720 million unsecured line of credit. As of the close of 2010, the outstanding debt totaled $392 million.
Fitch: Special Servicing for CMBS Loans on Downswing
As of mid-March, approximately 200 loans have transferred this year, marking a dramatic descent from the 631 loans in the first quarter of 2010.
Economy Watch: Quake Estimates Afoot, GSE Plan Proposed, Yen Dives
The economic impact of the disaster in Japan is still as unclear as exactly what’s going on at Fukushima Daiichi now, but that isn’t keeping economists from making estimates, or taking a stab at estimates, of the total cost.
Equinix Building Fourth Paris Data Center
Scheduled to open in the third quarter of 2012, the new facility is expected to meet demand for interconnection and colocation services in Paris and across the region. Known as PA4, it will support services for network, financial, content, enterprise and cloud computing.
IPD: U.S. Real Estate Among Top Performers
The U.S. commercial real estate industry is not only recovering, it is performing better than real estate in many other nations, according to findings presented at IPD’s conference.
Barnett Joins Colliers as Senior Vice President
Richard Barnett will lead the healthcare and life sciences practice in the firm’s development and consulting services group.
Lend Lease to Build for 7-Eleven
The retail chain plans to boost its profile by at least 500 stores this year via individual store capital leases, business conversions and acquisitions.
Summit Repositioning Raritan Plaza I
The nine-story, 262,500-square-foot office property will receive lobby and elevator renovations, new signage, restroom renovations and upgrades and exterior work as well as security and energy-efficient lighting enhancements and touch-screen directories. A total dollar value for the work has yet to be determined.
New Co-Owner, New Big Lease for 1 Park Ave.
In simultaneous transactions, Vornado Realty Trust acquired a 95 percent stake in the 933,300-square-foot Midtown Manhattan office tower and a major tenant doubled its occupancy in the building under a new lease agreement.
D.C., Nevada Among Top Spots for LEED
In the District, there was 25 square feet of LEED-certified space per person in 2010, while in Nevada there was just shy of 11 square feet of LEED-certified space per person during the same time. The other top states were New Mexico, New Hampshire, Oregon, South Carolina, Washington, Illinois, Arkansas, Colorado and Minnesota.