Investment
David Durning: Prudential’s Construction Financing Strategy
David Durning, president & CEO of Prudential Mortgage Capital Co., describes the insurance company’s commercial property construction loan program.
Hines Sells Industrial, Retail Assets in Mexico to Fibra Uno REIT
International real estate firm Hines has sold a portfolio of five industrial properties and one retail center in Mexico.
Madison Int’l Acquires Interest in Downtown NYC Retail Condo for $68M
Madison International Realty shelled out $68 million on the acquisition of a non-controlling 49 percent interest in a retail condominium at 510 Sixth Ave. in Manhattan.
Meridian Arranges $80M in Financing for 11-Property M-F Portfolio in Chicago
Even though the existing loans weren’t maturing for another one to three years, the owner of an 11-property multi-family portfolio in Chicago decided to refinance now, obtaining $80 million in permanent financing with the help of Meridian Capital Group.
KBS Buys 200 KSF Office Building in Suburban Philadelphia for $63M
KBS Capital Advisors acquired the 205,400-square-foot 1000 Continental Drive in suburban Philadelphia property from private equity real estate fund manager Equus Capital Partners for $63 million.
Auction.com to Auction Woolworth Building in Downtown LA
The historic Woolworth Building at 719-725 South Broadway in downtown Los Angeles will go up for auction on March 10, according to Auction.com.
CBRE Global Investors Buys 330-Unit Apartment Complex in Atlanta from Equity Residential
CBRE Global Investors has boosted its Atlanta multi-family portfolio with the purchase of Alexander on Ponce, a 330-unit apartment complex in the city’s Midtown submarket, from Equity Residential.
IMMOFINANZ-Owned BUWOG to Buy 18K-Unit Portfolio in Germany for $1B
BUWOG, the subsidiary of IMMOFINANZ Group, one of the largest entities of its kind in Europe, is giving the German multi-family market a boost by acquiring an 18,000-unit portfolio for $1.2 billion.
George Smith Partners Secures $51M in Construction Financing for M-F Project in Las Vegas
George Smith Partners has arranged $51 million in construction financing for the development of Elysian at the District, a 360-unit Class-A multi-family community in Las Vegas, on behalf of a joint venture between The Calida Group and Cypress Equity Investments.
Sunrise Medical Campus Sells 3-Building Property Near Tacoma
With the assistance of Jones Lang LaSalle’s Capital Markets Group, the ownership team of Sunrise Medical One and Sunrise Medical Two sold Clise Properties for $407 per square foot.