Investment
JLL: 2012's CRE Outlook Still in Flux; Bright Spots Exist
Jones Lang LaSalle’s outlook for 2012 shows that, while the economy remains in a state of flux, things are generally set to improve. But there are going to be some very bright spots — such as the multi-family sector, which is going to remain the darling investment class.
Fountain Investments Buys 1.3M Acres of Nevada Land for $31M
In one of the largest land sales in U.S. history, Florida-based Fountain Investments has purchased 1.28 million acres of land and mineral rights in Nevada, giving it a parcel by acreage larger than the state of Rhode Island.
GE Capital Launches $535M Investment in European Office Properties
Despite the European markets being as unsteady as — if not more unsteady than — domestic markets, GE Capital Real Estate is making a big bet on quality office assets in England, France and Germany with $535 million (400 million euro) secured from third-party sources.
Miami-Based Investment Firm Grabs 30-Story Chicago Multi-Family Tower
CH South Michigan Apartments, a vehicle of Miami-based Crescent Heights, purchased Chicago’s 1212 S. Michigan Ave., picking up the 30-story, 344-unit tower for approximately $60 million.
Analysis: Battle for Archstone Already Heating Up
Even as the bankruptcy estate of Lehman Brothers heads into court with its payout plan, it reportedly is in discussions with potential partners, trying to raise money for a counterbid to the offer yesterday from Sam Zell’s Equity Residential to buy more than a one-quarter interest in Archstone.
Breaking News: Equity Residential to Pick up $1.3B, 26.5% Ownership in Archstone
In a huge move for the Sam Zell-helmed Equity Residential, the firm has entered into a contract for a 26.5 percent ownership stake in Archstone, a privately held owner, operator and developer of multi-family apartment properties.
$4B Better Buildings Challenge Unites Government, Private Sector
Saying “we can’t wait for Congress to act,” President Obama on Friday announced that over the next two years, nearly $4 billion in combined federal and private-sector money will be surging into energy upgrades to buildings.
PCCP Provides $69M for Salt Lake City Mall Renovation
In a renovation deal that will be ready for next year’s holiday season, PCCP announced last week that it provided a $69.2 million senior loan to recap and improve Salt Lake City’s Valley Fair Mall.
Amid Changes, Furloughs at Grubb, Healthcare REIT Picks up $112M Portfolio
Amid the process of furloughing a small percentage of its workforce, Grubb & Ellis is still seeing one of its vehicles — Grubb & Ellis Healthcare REIT II — purchase an eight-property medical-office portfolio for $112 million.
Emerging Trends 2011: A Year of Less
Emerging Trends crafters Jonathan Miller and Stephen Blank discuss this year’s findings with CPE TV during the ULI Fall Meeting. Click on the following headlines for more on the Emerging Trends results: ULI Special Report: Opportunities and Emerging Trends Washington is Top Investor Choice Again as Tough 2012 Looms: PwC/ULI Survey