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Ventas to Buy Interests in 58 Sunrise Seniors Housing Assets in $186M Deal
In addition to leaving Ventas as full owner of the 58 assets, the deal calls for a revision of the management agreement for the 21 properties that Sunrise presently manages on behalf of Ventas, in addition to the 38 communities it will manage upon the transaction’s completion.
Lennar Wraps Up $740M Acquisition of Distressed Real Estate Assets
All told, 35 percent of the assets are commercial, with the remaining portion accounting for residential assets. The financing portion of the portfolio includes a group of 397 loans consisting predominantly of non-performing residential and commercial acquisition, development and construction loans.
Economy Watch: State Leaders Call for End to Foreclosures
Attorneys general are calling for a halt to foreclosure activity in a number of states, with mixed success.
Boston Properties to Grab the 1.7 MSF John Hancock Tower in Boston for $930M
The John Hancock Tower’s price tag of approximately $289.5 million in cash and the assumption of a $640.5 million senior mortgage loan with a 5.68 percent fixed rate constitutes quite a discount, considering that the property traded in 2006 for $1.3 billion.
Balfour Beatty JV Wins Contract for $1.2B Army Data Center Project in Utah
Securing a government development deal usually means big bucks, and such is the case for a joint venture involving Balfour Beatty Construction, DPR Construction and Big-D Construction.
Economy Watch: Old Republic National Title Nervous about Foreclosed Properties
It’s official: questioning foreclosure documents is a bandwagon, and it seems that many parts of the residential real estate industry are jumping on.
Southern Union Leases 193,000 SF in Houston
Natural gas firm Southern Union has found a new place for its headquarters to dwell.
Carlyle’s $653M Purchase of France’s B&B Hotel Group a Done Deal
Over its 20 years in existence, B&B has built a 16,162-room portfolio of what the company describes as “high end” budget hotels designed to appeal to business and leisure travelers at locations in France, Germany and Italy.
Pebblebrook Reaches $369M in Investments with Purchase of Grand Hotel Minneapolis
Pebblebrook snapped up the Grand Hotel from iStar Financial Inc., which had taken possession of the downtown Minneapolis asset from The Wirth Cos. through a deed in lieu of foreclosure process.
Economy Watch: States Question Foreclosure Documentation, Too
In the wake of J.P. Morgan Chase suspending residential mortgage foreclosures in about half the states, as reported by CPE on Wednesday, word is that a number of states themselves have started questioning bank tactics in pursuing foreclosures.