Investment
Blackstone, DDR Make $1.4B Retail Play
BRE DDR Retail Holdings L.L.C., a joint venture between Blackstone Real Estate Partners VII L.P. and DDR Corp., has just spent $1.4 billion on a 47-property retail portfolio formerly owned by EPN Group.
Starwood, South Street Partners Acquire 1 MSF North Beach Towers in Myrtle Beach
A Starwood Capital Group affiliate and South Street Partners have snapped up North Beach Towers, a two-tower, 1 million-square-foot condominium complex along the water in Myrtle Beach, S.C.
Vornado, HFZ Buy Upper East Side Apartment Building for $170M
A joint venture of Vornado Capital Partners and HFZ Capital Group has purchased 11 E. 68th St. in New York City for $170 million plus closing costs and adjustments.
Economy Watch: Employment Trend Index Up, Home Prices Down
Six of eight components of the Employment Trend Index showed positive growth in December. Total U.S. consumer borrowing rose $20.4 billion in November alone. And amid new fears of Greek insolvency, investors are pouring money into Germany.
Oak Grove Capital Originates $45M Fannie Mae Loan for Florida Apartments
Oak Grove Capital’s financing origination spree for apartment properties continues as the mortgage lender completes a $45M Fannie Mae affordable loan for The Waves, a 488-unit rental community in Plantation, Fla.
2012 Seniors Housing Preview with Mel Gamzon
Longtime seniors housing real estate expert Mel Gamzon offers insights into the seniors housing market. 2011 was a big year for seniors housing and healthcare REITs, and Mel explores what strategies companies are likely to develop in 2012.
American Healthcare, Griffin Capital Complete Transfer of Grubb Healthcare REIT
Grubb & Ellis has finalized the transfer of the dealer and advisory agreements of its REIT — formerly the Grubb & Ellis Healthcare REIT II — to a co-sponsorship between American Healthcare Investors and Griffin Capital.
Retail Roundup: Jenkins Sells 50 KSF D.C. Asset, Terramar Acquires Washington State Center for $35M
From coast to coast, retail transactions are closing one after the other. Among the grocery-anchored assets involved in the first deals of 2012 are the 50,600-square-foot Jenkins Row Retail in Washington, D.C., and the 130,800-square-foot Canyon Park Place in suburban Seattle.
Cuomo’s Convention Center Plan: A Gamble in Any Form
While New York Gov. Andrew Cuomo’s plan for the $25 billion revitalization of the state — including a convention center, hotel and casino in Queens — is ambitious, is it the right move?
Windsor Renewal Buys 320 Acres, 500 KSF of Industrial from Kodak
Windsor Renewal I, a division of The Broe Group, has taken a major step toward further developing the Great Western Industrial Park in Windsor, Colo., with the acquisition of 320 acres of land and 500,000 square feet of industrial buildings from Eastman Kodak Co. in a partial sale-leaseback transaction.