News
Silicon Valley Office Portfolio Lands $195M
On behalf of Preylock Real Estate Holdings, Meridian Capital Group arranged a seven-year floating-rate loan that features an initial five-year term followed by two, one-year extension options and full-term interest-only payments.
TCN Worldwide Board Names New Vice Chairman
During 2017-2018, Gerald Sullivan, principal & managing broker of PW Commercial and formerly the board’s treasurer, will serve as vice chairman.
JV to Open 708 KSF IN Warehouse
The build-to-suit facility is scheduled for completion in the first part of 2018. The asset is expandable to 1,046,528 square feet and is located in the AllPoints Midwest industrial park.
CBRE Global Investors Closes Asia Value-Added Fund
CBRE Asia Value IV and its co-investment vehicles are expected to have more than $2.5 billion in buying power. The investment team has acquired or committed $1.1 billion to five investments, primarily in logistics assets in Japan and China.
UPMC to Build Pittsburgh Hospitals for $2B
The health care provider will develop three cutting-edge specialty hospitals totaling more than 1.6 million square feet in the Steel City’s metro area.
Cushman & Wakefield Adds New Talent to NJ Office
David Townes joins Cushman & Wakefield’s New Jersey office. Previously, he worked for various firms in the retail sector and created BrokerMap, an app for real estate brokers.
CRE’s Crystal Ball: Executive Predictions, Past & Present
In this continuing series marking CPE’s 30th anniversary, seasoned executives reflect on past predictions and discuss what’s on the industry’s horizon.
PGIM Real Estate’s Menifee on Capital Availability in 2018
At the 2017 ULI Fall Meeting in Los Angeles, PGIM Real Estate Head of Americas Investment Research Lee Menifee shared his 2018 outlook for the commercial real estate industry, including his perspective on debt and equity capital availability and the major asset classes.
Marcus & Millichap Arranges Loan for FL Hotel Buy
The $15.9 million loan was used to purchase two properties located in Apopka, Fla., less than 15 miles from Orlando.
W.P. Carey Appoints New CEO
Mark DeCesaris will retire as CEO in December. Current President Jason Fox, who has been with the company for 15 years, will take over the role.