Investment
Phillips Edison, CBRE JV to Purchase $200M of Grocery Assets
Phillips Edison, a shopping-center REIT, and CB Richard Ellis have jointly invested $102 million in equity for the purchase of grocery-anchored shopping centers nationwide.
MetLife Makes $550M in Loans for Class A Properties in San Fran, D.C.
MetLife has originated a $300 million loan for San Francisco’s Bank of America Center and an additional $250 million in loans for the Washington Square Building in Washington, D.C.
GGP, Canada Pension Plan Partner on Plaza Frontenac, Saint Louis Galleria
General Growth Properties and Canada Pension Plan are teaming up, forming a partnership to purchase the upscale 482,000-square-foot Plaza Frontenac and for CPPIB to acquire a minority stake in GGP’s 1 million-square-foot Saint Louis Galleria.
Prosky on Healthcare Real Estate
Danny Prosky, president & COO of Grubb & Ellis Healthcare REIT II, talks on CPE TV about the booming market for healthcare real estate.
Sabey Data Center Properties Buys Manhattan’s Verizon Building for $120M
Sabey Data Center Properties entered the data center-hungry metropolitan New York market with the closing of a $120 million acquisition of a 29-floor condominium interest in the 32-story Verizon Building, with plans to transform the space into a premier data center location.
Economy Watch: Wall Street Tanks, but Hiring Improves (a Bit) in July
This morning’s jobs number showed a slight improvement, while commodities have followed stocks into negative territory. Commercial real estate prices aren’t rising–but at least they aren’t falling.
Investcorp Acquires Medical Complex
Investcorp Real Estate has expanded its San Francisco Bay Area holdings via the purchase of the 98,000-square-foot Broadway-Webster Medical Plaza in Oakland.
Cleveland Joins Clairvue Capital as Partner
Josh Cleveland comes to Clairvue Capital Partners from Liquid Realty Partners, where he was a director of business development.
Hoffman to Lead Marcus & Millichap’s Self-Storage Division
Michael Hoffman is also first vice president & regional manager of the firm’s Denver office. He began his career with Marcus & Millichap in 1992.
Kennedy Wilson Buys $143.5M Portfolio
The Los Angeles purchase adds 700,000 square feet to the company’s holdings, bringing the total assets under management to $9.8 billion.