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Boston Properties Completes Acquisition of 100 Federal St. in Boston
Boston Properties has completed the acquisition of 100 Federal St. in Boston from an affiliate of Bank of America with an aggregate investment of about $615 million — reportedly funded with available cash.
Economy Watch: More Houses Selling in Vegas
Vegas has seen some of the worst performance of the housing depression, but there’s been a small rebound. A UCLA commerce index rose 0.7 percent in February. And the financial world has been buzzing about a former Goldman exec’s scathing tell-all.
Healthcare Trust of America Spends $54M on 558 KSF Pittsburgh Office Building
The 558,000-square-foot Penn Avenue Place office tower in Pittsburgh, Pa., has just become a part of Healthcare Trust of America Inc.’s portfolio. The company acquired the asset from an affiliate of Oxford Development Co. in a $54 million transaction.
Savanna, Panzer Partner to Close $196M Multi-Family Transaction on Long Island
With the finalization of a $196 million transaction, Savanna has become a partner with Pantzer Properties in the ownership of Atlantic Point, a 795-residence multi-family community in Bellport, N.Y., on Long Island.
DivcoWest Makes $71M Office Buy in Cambridge
DivcoWest has spent $79 million on The Davenport, a 220,000-square-foot Class A office property in Cambridge, Mass. The firm picked up the property from a client of AEW Capital Management.
Economy Watch: Americans Hit the Stores in February
Retailers had a good month in February, as Americans were out shopping in force. The FOMC is standing on the current, extremely low interest rate. And 15 of 19 banks passed their stress tests.
Exclusive: Cushman's CEO Sees Slow Start, Strong Finish for Global Market in 2012
The moderately upbeat projection of services firm Cushman & Wakefield Inc. paints a global real estate picture that is on track to brighten by the second half of 2012, according to the company’s CEO, Glenn Rufrano.
Economy Watch: Robo-Signing Settlement Finalized
The U.S. government filed formal settlement papers in the robo-signing cases, with Bank of America paying the largest fine at more than $10 billion. Mass-transit use nearly reached an all-time high in 2011. And the Fed will release the bank stress-test results.
Cole Spends $53M on New Jersey Office Building
Cole Real Estate Investments has made another addition to its portfolio in the New Jersey area, this time picking up a 176,000-square foot, Class A office building for $53 million from The Hampshire Cos.
Coreland to Manage 1.2 MSF of Watt Properties' California Retail
Coreland Cos.’ management responsibilities just got a lot bigger, as the company recently landed a contract to manage a 1.2 million-square-foot Southern California portfolio of neighborhood retail properties owned by Watt Properties.