Investment
U.S. Leads Global Investment Sales as NYC Flexes Muscles: Cushman & Wakefield Midyear Update
U.S. investment sales are expected to reach $253 billion in 2011, a 25 percent jump compared to 2011. In the nation’s biggest office market, fundamentals remain sound.
Simon Obtains Restructuring on $291M Retail Malls Loan
With Talmage L.L.C. acting as special servicer, the $291 million loan on the Cadillac Mills Portfolio has been modified and restructured. The portfolio encompasses three regional malls totaling 2.8 million square feet.
Vornado Buys, Sells–and Pulls Back Its Veil
Vornado had a busy 4th of July week, with nearly $1.3 billion in deals. But in announcing its array of purchases and dispositions, it has also been pursuing a new “transparency” strategy. What remains to be seen is how the market will react to everything it’s doing.
Multi-Family Investment Opportunities: Still to Come or Past its Peak?
With a weak job market and low consumer confidence, the transition from renter to homeowner remains slow, creating continued opportunities in the multi-family housing market, according to a Property Portfolio Research economist. But he cautioned that Class A multi-family opportunities for investors might have already peaked.
Terreno Buys Three Silicon Valley Buildings for $33.7M
Terreno Realty Corp., of San Francisco, has acquired three multi-tenant industrial buildings in Sunnyvale, Calif., totaling about 172,000 square feet for a purchase price of approximately $33.7 million.
CoStar Q2 Report: Slow Improvement in Office; Retail Slides
Fundamentals in most commercial real estate sectors improved or held steady during the second quarter, as per CoStar Group’s upcoming national report. But there’s always a surprise and the last three months were no exception.
Wells Core REIT Grabs 172,000-SF Suburban Chicago Office Property
Wells Core Office Income REIT has added a second suburban Chicago asset to its portfolio with the acquisition of Four Parkway North, a 172,000-square-foot office property in Deerfield, Ill. The REIT purchased the building from The John Buck Co.’s JBC Fund III in a $40.9 million transaction.
Weingarten Snaps Up 171KSF Shopping Center on L.A.'s Sunset Strip for $99M
Transactions such as the 8000 Sunset purchase are a major component of Weingarten’s current strategy of enhancing the profile of its portfolio.
Starwood Capital Closes $1B Purchase of Seven Westfield Malls
Starwood Capital Group is now 6.6 million square feet larger. The global private investment firm recently wrapped up its acquisition of a 90 percent stake in seven shopping centers from Sydney, Australia’s Westfield Group in a transaction valued at just over $1 billion. DDR’s Scott Wolstein will spearhead the new division.
Lowe Enterprises Buys Houston's Hotel Derek
The Hotel Derek, a 314-room independent boutique hotel in Houston’s Galleria area, has been acquired by Lowe Enterprises Investors on behalf of a national hotel investment venture it formed last year with Guardian Life Insurance Co. of America and a subsidiary of Allstate Insurance Co.