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Younan Continues to Trim Leverage with Sale of Houston Asset
Prior to selling 1700 West Loop South in Houston, Younan Properties Inc. had sold $400 million worth of properties and reduced its leverage by 30 percent over the past year.
In $770M Deal, DEXUS Sells 16.7 MSF Industrial Portfolio to Blackstone
Affiliates of Blackstone Real Estate Partners VII picked up the 68 assets in what is being touted as the largest industrial portfolio transaction in the U.S. so far this year.
Regency Begins 280 KSF Shopping Center Outside Seattle
Regency Centers will break ground tomorrow on Grand Ridge Plaza in the master-planned development of Issaquah Highlands in Washington state.
Economy Watch: Spain Set to Ask for Bailout; L-T Unemployment Down; Stimulus Debated
Spain might request as much as 100 billion euros ($125 billion) in financial assistance. U.S. long-term unemployment saw a drop, while Lacker dissented on the Twist.
Developers Detail L.A.’s $250M Playa Vista Town Center
Developers of Runway, a mixed-use project in Playa Vista, Calif., continue to prepare for takeoff with the debut of architectural firm Johnson Fain’s design for the $250 million endeavor.
Cassidy Turley Wins 895 KSF Management Contract
Cassidy Turley has landed the 894,000-square-foot management contract for Chevy Chase Pavilion, a mixed-use project in Washington, D.C.
SL Green Secures NYC’s 373 KSF Lease Renewal, Refinances Property for $230M
The city of New York has decided to stay put in in its 372,500-square-foot home at 100 Church St. in Manhattan, at the same time that building owner SL Green Realty Corp. refinanced the 1 million-square-foot property to the tune of $230 million.
Tanger, Gordon Group Plan Upscale Outlet Center at Connecticut Casino Complex
Taking a cue from Las Vegas, Tanger Outlets Foxwoods will link the 312,000-square-foot center to two hotels at Foxwoods Resort Casino, the largest of its kind in the United States by gaming square footage.
St. John Properties Acquires 1 MSF Pennsylvania Shopping Mall
St. John acquired a 1 million-square-foot distressed regional retail center in Harrisburg, Pa., from TD Bank, with plans to redevelop the mall.
Skanska Gets $148M Slice of Moynihan Station’s First Phase
Skanska has signed a $148 million contract with the Moynihan Station Development Corp. for work on phase one of the expansion of New York City’s Pennsylvania Station.