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$93M Refi for Mixed-Use D.C. Apartments
Vaughan Place at McLean Gardens, a 389-residence mixed-use apartment complex in Washington, D.C., has been refinanced to the tune of $93 million, courtesy of a loan provided by Walker & Dunlop Inc.
AREA, Adler Group Close First Phase of $350M Portfolio Purchase from WRIT
AREA Property Partners and Adler Group, acting together in a joint venture as AP AG Portfolio L.L.C., have completed the first step in acquiring a 3.1 million-square-foot portfolio of office and industrial properties from Washington Real Estate Investment Trust.
Charles Dunn Snaps Up $50M Pacific Financial Center in Downtown L.A.
In a process that attracted more than 15 bidders, the 17-story Pacific Financial Center was purchased by Walter J. Conn, chairman of Charles Dunn Company, for $50 million.
Economy Watch: Employment Trends Drop Slightly, Non-Manufacturing Index Rises
The Conference Board’s Employment Trends Index dropped slightly to 100.8 in August. A separate index was slightly optimistic on Tuesday as well: the one found in latest Non-Manufacturing ISM Report On Business. And the German high court is set to rule on its country’s contributions to Greek bailouts.
Equity LifeStyle to Acquire 75 Manufactured Home Communities for $1.4B
Equity LifeStyle recently entered into an agreement to acquire 75 manufactured home communities, a single RV resort and certain manufactured homes and loans associated with the 75 communities for a whopping $1.4 billion from Hometown America L.L.C.
George Smith Partners Completes $34M in Refis Across Two Properties
Commercial real estate banking firm George Smith Partners has arranged more than $34 million in debt to refinance two retail centers — located in California and Nevada — at what the company calls “exceptionally attractive terms.”
In Depth: Two MF Industry Leaders Team Up, Purchase California’s RW Zukin
Industry veterans Robert Talbott and Scott Mencaccy recently joined forces and acquired the RW Zukin Corp., a real estate services firm that has been serving the multi-family industry in the greater San Francisco Bay Area for nearly 50 years.
Economy Watch: August Employment Numbers Not Great, Trouble Continues in Europe
The jobs report on the Friday before Labor Day included some miserable details. While the U.S. took a holiday on Monday, troublesome news didn’t take a holiday in Europe. And U.S. economist Nouriel Roubini calls for a “60 percent” chance of another recession.
Senior Housing Trust to Spend $478M for Nine Seniors Communities
Senior Housing Properties Trust has agreed to purchase nine large senior-living communities for $478 million, including $164 million of assumed mortgage debt, across six states.
Atlanta’s Englewood Retail District Sells for $82M
In a move that will bolster the Atlanta retail scene, an affiliate of North American Development Group has paid $81.7 million for the Edgewood Retail District, a regional shopping center two miles east of downtown Atlanta.