Investment
ULI: Industry to See Improvements Through 2014, Bolstered by Cap Markets
“Is distress in the real estate markets behind us?” was the main question on the minds of the respondents to the latest survey by the Urban Land Institute — and the consensus seemed to be a cautious “yes.”
Reports Suggest Marriott's Two New Downtown L.A. Hotels Badly Needed
All the hoopla surrounding the announcement of a $172 million, two-hotel project near the Los Angeles Convention Center looks like more than mere boosterism. The city needs modern hotel product to continue attracting convention dollars.
Bostonia Partners Secures $72M in Financing for NOAA Weather Center in Maryland
A $72 million financing deal secured by Bostonia Partners L.L.C. helped complete construction on a new NOAA Center for Weather and Climate Prediction in Maryland after it was stalled for more than two years because the original developer went bankrupt.
Madison Spends $123M for 57 Percent Share in Iconic Frankfurt Office Complex
Madison International Realty of New York, together with its German subsidiary Madison Real Estate, has signed a purchase agreement for Morgan Stanley P2 Value’s 56.95 percent interest in the Trianon complex in Frankfurt — for a reported $123 million.
682 KSF Pennsylvania Office Park Gets $45M Refi
Cedar Crest Professional Park, a 682,000-square-foot professional office campus just outside of Allentown in Pennsylvania’s Lehigh Valley, has been refinanced to the tune of $45 million by MRA Realty Advisors on behalf of Cedar Crest Professional Park VII.
JLL Completes Construction of $536M Medical Facility in Indiana
Jones Lang LaSalle Inc.’s job as program manager for the development of Parkview Health’s Parkview Regional Medical Center is done, now that construction of the 975,000-square-foot hospital in Fort Wayne, Ind., has reached completion. The big-ticket project came with an equally big price tag of $536 million.
Glimcher Plans to Acquire Blackstone's Interest in 1 MSF Hawaii Retail Center
In a transaction valued at approximately $289.4 million, Glimcher is looking to acquire the 80 percent indirect interest in Pearlridge Center, a 1 million-square-foot shopping mall in the community of Aiea, in metropolitan Honolulu.
AvalonBay Spends $63M on N.J. Multi-Family Complex
After a $63 million purchase, AvalonBay Communities Inc. is the proud owner of Windsor at Crystal Ridge, a 334-unit, Class A multi-family complex in central New Jersey.
Paul Daneshrad: Multi-Family’s Future
Starpoint CEO Paul Daneshrad blogs on CPE’s From the Inside experts blog about the outlook for the multi-family property sector and his company’s investment plans.
Investcorp Acquires $65M Mixed-Use Portfolio in California
In the largest transaction to close in the Northern San Francisco Bay Area thus far in 2012, Investcorp has added a 14-property portfolio to its holdings in a partnership with PB&J Acquisitions.