Investment
Avison Young Expands in Metro DC with McShea Acquisition
Toronto-headquartered Avison Young’s aggressive, methodical growth plan continues as the CRE services firm increases its footprint in metropolitan Washington, D.C., with the acquisition of McShea & Co.
Colliers: NYC Office Leasing Ahead of ’12; Sales Prices Near Peak
The largest U.S. office market is on a pace to record 26 million square feet of leasing activity; Class A Midtown sales prices top $1,100 per square foot.
Rise of the M&As
Whether a sign of the economic times, driven by a high level of liquidity and capital availability, or a cyclical phenomenon, the big, well-established service providers have been hungrily snapping up their smaller brethren.
Chatham Lodging Acquires Residence Inn in Suburban Seattle for $72M
Chatham Lodging Trust has acquired the 231-room Residence Inn by Marriott Seattle Bellevue/Downtown for a net cash price of $72 million, plus customary, pro-rated amounts and closing costs.
General Growth Properties Buys Chicago ‘Magnificent Mile’ Building from Grosvenor
General Growth Properties has acquired a 126,000-square-foot retail building in the heart of Chicago’s “Magnificent Mile” shopping district from Grosvenor Americas.
Hudson Team Arranges $72M in Financing to Refi Retail Centers in Washington, California
The Hudson Team of George Elkins Mortgage Banking Co. arranged financing for two CMBS loans totaling $72 million, secured by two neighborhood retail centers in Fullerton, Calif., and Lacey, Wash.
Goddard Grabs 440 KSF Class A Office Building in Atlanta
Acting through the Goddard Value-Add Office Fund I, Goddard purchased the 440,000-square-foot Class A asset, perched atop Mount Wilkinson in Atlanta’s historic Vinings neighborhood, from a Parmenter Realty Partners fund.
Meridian Orchestrates $150M Financing Deal for Manufactured Housing Portfolio
Meridian orchestrated $150 million in acquisition and permanent financing for Matrix Realty Group’s $165 million purchase of a group of 11 communities, which encompasses an aggregate 5,347 pad sites in Michigan and Alabama.
Clarion Buys Student Housing Community in Tucson
Clarion Partners has acquired Retreat at Tucson, a 183-unit student housing community located in close proximity to the University of Arizona’s main campus.