News
ITEX Group Prepares to Break Ground on New Affordable Housing Project
ITEX Group, a private real estate investment firm headquartered in Port Arthur, TX will soon start work on turning an empty flea market into an apartment and retail complex. Dubbed The Village at Palm Center, the project will feature about 222 housing units – 154 apartments and 68 townhomes – and 14,500 square feet of retail space.
HFF Arranges Sale, Financing for 3811 Turtle Creek in Uptown Dallas
KBS Realty Advisors recently increased its Dallas footprint through the acquisition of 3811 Turtle Creek, a 296,000-squre-foot, Class A office tower in Uptown. The deal was brokered by HFF, which acted on behalf of the seller, MetLife Real Estate Investors. The HFF team also helped with obtaining financing for the new owners, having secured a seven-year, 3.55 percent, fixed-rate loan through a life insurance company.
TIAA-CREF Buys D.C.’s Flats 130 at Constitution Square
TIAA-CREF has added another multifamily property to its Washington, D.C. portfolio. The national financial services organization has recently purchased the Flats 130 at Constitution Square for an undisclosed price. The seller was a joint venture between Bethesda-based StonebridgeCarras and an affiliate of Walton Street Capital, L.L.C., from Chicago.
Winthrop Sells 500 KSF Philly Office Property
Winthrop Realty Trust continues its liquidation program with the disposition of 1515 Market St., a 500,000-square-foot office property in in Philadelphia.
Colliers’ Carlsbad Teams Wrap $11M in Industrial, M-F Sales
Colliers International recently announced the completion of two separate real estate deals in the greater San Diego area that have gained a combined total of $11 million. It was recently announced that a multi-tenant industrial building and a 16-unit multifamily property were acquired by PacVentures, Inc. and San Diego Heritage Partners LLC, respectively. The Carlsbad office of Colliers International handled representation of both deals, on behalf of all parties involved.
BKM Capital Partners Buys 2 Industrial Properties for $27.5M
Industrial space in the greater Las Vegas is clearly on the rise, with a number of investors lining up development projects and acquisitions in the sector. BKM Capital Partners is the latest investor to announce a move in the market, having acquired two multi-tenant assets for a total of $27.5 million. The two properties are the company’s fourth and fifth ventures, following purchases in the Phoenix and Portland markets. Cheyenne Technology Center and Wind River Industrial Complex are the second and third properties acquired by BKM in the Las Vegas market.
INTERNATIONAL: Lockheed Martin, Concord Blue to Build 5-MW Bioenergy Facility in Germany
American aerospace and defense giant Lockheed Martin has partnered with global waste management company Concord Blue to build a five-megawatt power generation facility in the town of Herten, Germany.
CT, Prudential JV to Develop 5 Industrial Buildings in Riverside, Calif.
A new $120 million joint venture between CT Realty and Prudential Real Estate Investors has made its first acquisition, of 13.1 acres of land in Riverside, Calif., where the JV plans to develop five industrial buildings.
Bentall Kennedy, MEPT Buy 359 KSF SF Office Tower
Bentall Kennedy, real estate advisor for the Multi-Employer Property Trust, has expanded the fund’s Bay Area holdings with the acquisition of 600 California St., a 20-story, Class A office tower in San Francisco.
Securian’s 401 Building in Downtown St. Paul Recertified LEED Silver
LEED recertification is a rare occurrence in the Twin Cities, but Securian’s 401 office building in downtown St. Paul has recently received LEED Silver Certification from the U.S. Green Building Council (USGBC).