Featured
BPG's $83M Spend Nets Two Virginia Multi-Family Properties
BPG Properties has made an $83.4 million investment to acquire two multi-family communities in Fredericksburg, Va. Together, the two properties — Greens at Falls Run and Manor at England Run — total 676 units and are 95 percent occupied.
O'Connor Capital, Wafra Purchase Two Retail Centers Totaling 332 KSF
O’Connor Capital Partners and Wafra Investment Advisory Group have joined forces, acquiring The Promenade at Chenal in Little Rock, Ark., and Phase II of Settlers Ridge in metropolitan Pittsburgh, Pa.
KBS REIT Picks Up 522 KSF, Three-Building Dallas Office Complex
In yet another example of REITs getting back in the game, KBS Real Estate Investment Trust III has purchased Town Center Office Park, a 522,043-square-foot, three-building office complex in Dallas’ Plano submarket.
Economy Watch: Consumers Feeling Pretty Good
U.S. consumers were feeling peppy in February, according to the Reuters/University of Michigan consumer sentiment index — and figures from the Bureau of Economic Analysis showed consumers increased spending during the month by 0.8 percent. And Wall Street turned in terrific first-quarter results overall.
Wilder Cos. Nabs 412 KSF Retail Management Contract for Two Properties
The Wilder Cos. has just added 412,000 square feet of shopping-center responsibilities to its plate. The retail real estate services firm won a contract to spearhead leasing and management at Suburban Philadelphia’s The Shops at Valley Square, and another assignment to provide the same services at Somerset Square, located just outside of Hartford, Conn.
Even More for Inland American: $393M in Hotel Purchases
Inland American Lodging Group Inc. continues to add upper-upscale and luxury assets to its portfolio, acquiring five hotels in five states with a total of 2,302 rooms this week for about $393 million.
Economy Watch: Initial Unemployment Claims Down, 4Q GDP Stands Pat
Unemployment claims for the week ending March 24 dropped by 5,000 to reach 359,000. The OECD sees economic growth for America, but a slower road for the large euro-zone economies. And home sales in Las Vegas were up in February, driven by all-cash buyers.
Inland American Spends $113M on San Francisco Airport Marriott
In a deal valued at $112.7 million, Inland American Lodging Group has acquired the San Francisco Airport Marriott in Burlingame, Calif., from Host Hotels & Resorts.
Reports Suggest Marriott's Two New Downtown L.A. Hotels Badly Needed
All the hoopla surrounding the announcement of a $172 million, two-hotel project near the Los Angeles Convention Center looks like more than mere boosterism. The city needs modern hotel product to continue attracting convention dollars.
Boston's New Longwood Life-Sciences Building Leases 154 KSF
Courtesy of a many-layered deal involving multiple joint-venture partners, Boston’s Longwood area will see the construction of a 413,536-square-foot life-sciences center — and Dana-Farber Cancer Institute has inked a 154,000-square-foot lease in the property.