Investment
Brandywine-Allstate JV Takes Suburban D.C. Portfolio for $120.6M
The joint venture will acquire the three-building asset in Silver Spring, Md., from Urdang’s Value-Added Fund II and Moore & Associates.
Manhattan Apartment Property Fetches $280M
JD Carlisle L.L.C. and DLJ Real Estate Capital Partners L.L.C. have just pocketed $280 million on the sale of The Beatrice in New York City’s Chelsea neighborhood to Equity Residential.
NAREE Special Report: Housing Demand Grows; Will Supply Follow?
If there are two points economists during the NAREE conference agreed on, it was that housing demand is growing in the face of short supply and that the extent varies at a very local level. But the pace at which it will advance from here remains a moving target.
California Landmark Group Invests $75M in M-F
Los Angeles-based California Landmark Group will invest $75 million in urban infill multi-family developments in Southern California over the next 12 months.
American Realty Capital Closes Purchase of 21 Net-Leased Properties
American Realty Capital Properties Inc. has added 21 single-tenant properties to its rapidly growing portfolio of net-leased assets. The $26.2 million price landed an aggregate 300,000 square feet of office and retail space across 10 states.
Blackstone, DDR Wrap Up $1.4B Retail Purchase
The Blackstone Group and DDR Corp. have closed a $1.4 billion joint-venture retail purchase six months after announcing the plan to acquire the 46-property shopping center portfolio from EPN Group.
Goodman, Birtcher Form $1.5B Partnership Targeting Industrial Properties
With an eye on developing and acquiring premier industrial and logistics properties in North America, Australia’s Goodman Group has joined forces with California’s Birtcher Development and Investments.
Brookfield Acquires Major London Office Portfolio for $829M
Brookfield Office Properties Inc. has made a major move into Central London as an office property owner with the purchase of interests in buildings totaling 884,000 square feet for $829 million (£518 million) from British property giant Hammerson, its first major foray into Europe.
Savanna Sells $158M Senior Note Secured by D.C. Office Properties
Savanna wrapped up the sale to Apollo Global Real Estate of a majority interest in a $157.7 million note collateralized by a 1.4 million-square-foot office portfolio in Rosslyn, Va.
Economy Watch: Pro-Bailout Victory in Greece; Rise in U.S. Foreign Investment, but Consumer Sentiment Down
Polls closed in Greece at noon Eastern time on Sunday, and preliminary results indicated that the pro-bailout New Democracy party won about 30 percent of the seats in the Greek parliament. Meanwhile, the Commerce Department reported a further increase in foreign investment in the United States. And consumer sentiment reached a low for the year.