Investment
The Silverman Group Purchases 560 KSF of Industrial Space in North Carolina from W.P. Carey
The Silverman Group has added 560,000 square feet of space to its industrial portfolio with the acquisition of 10000 Twin Lakes Parkway, a Class A distribution center in Charlotte, N.C.
ULI: Real Estate Recovery Comes Amid Rebounding Investment; Worries Abound About Debt Capital Shortfall, Europe
Although investment capital is again flowing for CRE, speakers at the Urban Land Institute’s Real Estate Capital Markets Conference are concerned with relative dearth of debt capital, possible refinancing difficulties ahead and the current European economic crisis.
AREA Property Partners, Commonwealth Ventures Plan $225M Office Project in Boston
An 11-story Class A office building along the South Boston waterfront is moving closer to construction now that the Boston Redevelopment Authority has approved the approximately 500,000-square-foot, $225 million project planned by AREA Property Partners and Commonwealth Ventures.
Nine-Property Net-Leased Walgreens Portfolio Sells for $69M
Investors can’t seem to get enough of the net-lease market: An unidentified institutional investment firm beat eight others in a bidding war, acquiring a 117,600-square-foot portfolio of nine Walgreens stores on the East Coast for $68.7 million.
Wharton Equity Partners Acquires 500-Unit Florida Multi-Family Portfolio for $50M
Wharton Equity Partners, in partnership with a consortium of real estate funds affiliated with Och-Ziff Capital Management Group, has just increased its holdings by an additional 900 units with the purchase of a stake in four properties in Central Florida.
Marcus & Millichap: Net-Leased Retailers Expand Reach, See Investor Interest
Certain property types are well-positioned to take advantage of the fact that Americans’ personal incomes continue to stagnate, and net-leased properties – including discount retailers, drugstores, quick-service restaurants and even big-box chains – are seeing renewed investor interest in response.
Harbor Group Spends $100M on Florida Multi-Family Portfolio
Harbor Group International has made another multi-family purchase, snapping up a three-property apartment portfolio in three Florida markets for a total of $99.7 million – a purchase price of approximately $4,000 per unit.
PREA: 2012 CRE Returns Will Rise to Nearly 10 Percent
Commercial real estate firms expect the future of the U.S. commercial real estate market to continue to shine, as indicated by the results of the Pension Real Estate Association’s latest Consensus Forecast Survey: Survey participants in May anticipate full-year 2012 returns of 9.6 percent.
Kennedy Wilson Nabs 544-Unit California Multi-Family Community for $87M
Kennedy Wilson has cast its eyes across the San Francisco Bay, acquiring the 544-unit Waterford multi-family complex in Hayward, Calif., for $86.5 million.
Distress Symposium Report: Opportunities Knock, but Change Must Come
The Distressed Debt & Assets Symposium, produced by Deloitte in partnership with New York University’s Schack Institute of Real Estate, saw panelists discuss how the lending landscape can improve, but only with “a commitment to change.”