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Two Multi-Family Buildings Move in D.C.
In two separate transactions in as many days, two large apartment buildings have changed hands in the D.C. area: The 359 KSF Montpelier Crossing was sold to Federal Capital Partners and Equity Residential took The Chase at Bethesda Metro.
Burger Named Co-CEO of Silverstein
In an effort to continue the firm’s ongoing expansion outside its New York City base, Silverstein Properties Inc. has announced the appointment of Martin Burger as co-CEO. Burger, who joined Silverstein in February 2010, will now work directly alongside president & CEO Larry Silverstein.
Baltimore Breaks Ground on $72M Mixed-Used Union Wharf Project
Bozzuto Group yesterday broke ground on the Baltimore’s $72 million Union Wharf project, a mixed-use waterfront development in the city’s Fells Point neighborhood.
Economy Watch: Retail Sales Edge Upward in November
For all the talk of Thanksgiving sales, November retail sales only increased 0.2 percent from October. The FOMC is continuing the almost-forgotten twist and, in response, investors were underwhelmed as markets took a modest slide.
Bell Partners Purchases Three Apartment Communities for $76M
Bell Partners has purchased three communities, encompassing an aggregate 682 units and located in Florida, Texas and South Carolina, for approximately $76 million.
Compatriot Capital Acquires Half of Apartment Firm Village Green
Compatriot Capital has just taken a 50 percent ownership stake in Village Green and plans to invest $50 million of equity to develop $250 million worth of apartment assets in the next two to three years.
Cassidy Turley to Handle 3 MSF Office Portfolio for Equity Office Properties
CRE giant Equity Office Properties has tapped Cassidy Turley to manage and/or lease an approximately 3 million-square-foot, 19-building Class A office portfolio.
KTR Closes on 7.8 MSF of Industrial Across Five Markets
KTR Capital Partners has just closed on 7.8 million square feet of industrial space across 18 buildings located in central New Jersey, Chicago, Dallas, Atlanta and Columbus, Ohio.
Economy Watch: Zell Wants Archstone, Lehman Doesn't Want Him to Have It
The wind-down of Lehman’s assets, including Archstone’s 70,000 apartment units, is a fight that’s still brewing. The NAR is going to revise downward the number of homes sold from 2007 through October 2011. And ratings agencies aren’t too keen on the euro zone’s prospects.
DivcoWest Buys 251 KSF, 5-Property Silicon Valley Office Portfolio
Picking up five office properties in Santa Clara, Calif., DivcoWest spent nearly $40 million on the 251,000-square-foot Walsh @ Bowers portfolio. The buildings, sold by RREEF, were marketed by Cassidy Turley.