Investment
Summit Real Estate Buys Industrial Portfolio
The company has expanded its footprint with a five-property industrial portfolio located in St. Petersburg, Fla. The buildings sold for a total of $17.4 million.
CPE Announces the 2018 Executives of the Year
Now in its 22nd year, the CPE Executive of the Year Awards program is adjudicated by a peer vote among leading executives from across the commercial real estate industry and based on accomplishments in the past year. Here’s what made the winners stand out.
Clarion Partners Buys $336M San Francisco Office
Jack Resnick & Sons sold the nearly 430,000-square-foot Class A office asset, which last changed hands as part of a 1.9 million-square-foot portfolio transaction in 2006.
Omninet Sells San Diego Office Complex for $19M
The transaction marks the buyer’s entrance into the metro’s office market. A Newmark Knight Frank team brokered the deal on behalf of the seller.
Hartman Acquires Houston Energy Corridor Office
The REIT paid more than $5 million for the six-story property, which underwent cosmetic renovations under the previous ownership in 2013.
Sitex Group Acquires NJ Industrial Facility
A private investor sold the 100,000-square-foot Carlstadt property. The transaction marks the buyer’s third recent acquisition in the area.
San Jose Office Asset Commands $63M
The Muller Co. teamed up with CIGNA Investment Management to purchase the 104,000-square-foot Century Plaza. Cushman & Wakefield negotiated the deal.
Atlanta Office Asset Commands $58M
The seller, Lone Star Funds, had acquired the 18-story Class A property from U.S. Bank for $47.3 million in 2015.
Why Steady Interest Rates Won’t Save the Day
While the Fed takes a patient approach, what else could disrupt the capital markets in 2019? Aztec Group’s Charles Penan sheds light on potential pitfalls.
CBRE Acquires Global Data Center Tech Company
Romonet, a U.K.-based analytics software provider that uses a patented cloud-based technology, will be integrated into CBRE’s Data Center Solutions group.