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Boston’s $92M Victor Apartments Break Ground
Boston’s newest housing development, The Victor, has just broken ground. The 12-story, 286-unit project is being built by Suffolk Construction at a cost of $92 million.
Economy Watch: U.S. Consumers Hit the Mall
According to the Department of Commerce, U.S. retail sales grew 0.5 percent in October, and the Producer Price Index actually dropped 0.3 percent at the same time. Bond yields rose once again for Spain and Italy.
$280M Mortgage for FiDi Office Through SL Green, Moinian JV
A joint venture of SL Green and The Moinian Group announced it has recapitalized 180 Maiden Lane, a fully leased, 1.1 million-square-foot Class A office tower on New York’s Downtown waterfront.
Investcorp Buys $40M Mezz Debt on NYC’s Paramount Hotel
Investcorp has picked up two existing mezzanine loans — a total principal balance of $40 million — backed by New York City’s Paramount Hotel and originated by Fillmore Capital Partners.
Economy Watch: Fed Warns of Euro-Troubles Tipping U.S. Economy into Recession
The San Fran Fed takes another look at the possibility of a double-dip recession. Ninety percent of Americans think it’s a “bad time” to look for a job. And the sale of Italy’s debt shows investor nervousness.
9-Property, $71M Multi-Family Sale in Florida, Texas
An unnamed California-based investment firm has made its first foray into the world of Texas and Florida multi-family properties with a $70.9 million, nine-property sale arranged by Marcus & Millichap.
General Growth, Kimco JV to Redevelop Maryland Mall for $70M
Owings Mills Mall, a 25-year-old, 1 million-square-foot regional mall in northwest Baltimore County, will be undergoing redevelopment through a new joint venture of General Growth Properties and Kimco Realty.
Economy Watch: Change for Italy, Recovery for Japan, Positives for U.S.
Italy’s Berlusconi resigned over the weekend, and Mario Monti has temporarily taken the PM slot. Japan saw exports drive a burst of third-quarter growth. And U.S. consumer sentiment is up — for now.
Salus Spends $57M in D.C.’s Rosslyn Corridor
In another deal for the Washington, D.C., metro area’s Rosslyn Corridor, Salus Property Investments has purchased 1400 Wilson Blvd. for $57 million.
New Team to “Maximize Value” of 400 KSF Westgate City Retail Center in Phoenix
Teetsel has brought in three firms to help revitalize the 400,000-square-foot mixed-use Westgate City Center near Phoenix: Vestar will be the new property manager, and both CBRE and The Corritore Co. will be leasing brokers.