News
Inland Real Estate, PGGM JV Buys Phase 2 of Newport Pavilion for $23.6M
Inland Real Estate Corporation continues to expand in the greater Cincinnati area. A few months ago, the company purchased Phase I of Newport Pavilion in a joint venture with Dutch pension fund advisor PGGM. Now, the same joint venture paid $23.6 million in cash to buy Newport Pavilion Phase II.
Greenbuild Special Report: Finding the Value of Healthy Buildings
Much like when the green building movement that first hit CRE at the turn of the millennia, we are currently sitting at the starting line for a new era of change. This time the target is not the building, but rather its users.
INTERNATIONAL: Invesco Buys Office Project in Prague from Skanska
The Riverview office project in Prague traded hands as Invesco Real Estate purchased the asset from Skanska Property Czech Republic.
HFF Secures $7.5 Million for Hillcrest M-F Project
A residential project located in San Diego’s Hillcrest neighborhood recently received a massive boost as developer Hillcrest Veritas, LP received $7.46 million in construction-permanent financing. HFF worked on behalf of the developer to secure the financing, a 71 percent loan-to-cost, 12-year, fixed rate construction-permanent loan through a correspondent life company lender.
Virtus, Aspen Heights to Build 684-Unit Student Housing Community near University of Oklahoma
Virtus Real Estate Capital has joined forces with student housing development and management company Aspen Heights to build Aspen Heights Norman, a 684-bed cottage-style community near the University of Oklahoma in Norman, Okla.
Voit to Manage, Reposition 2 MSF Industrial Portfolio in Reno
The Reno office of Voit Real Estate Services will provide property management and repositioning services for two industrial portfolios totaling more than 2 million square feet in Reno for Northwestern Mutual.
Thor Equities JV Buys Manhattan’s 530 Fifth Ave.
Thor Equities continues building up its presence on Manhattan’s famed Fifth Avenue, closing on the purchase of 530 Fifth Ave., a 26-story office and retail building, for $595 million.
Economy Watch: FHFA Home Price Index, Fed’s Coincident Indexes
U.S. house prices saw an unusually strong uptick in August compared with July. And according to the Federal Reserve Bank of Philadelphia, coincident indexes increased in 43 states in September.
Cabot Properties Closes on Houston Industrial Portfolio
Cabot Properties Incorporated, a Boston-based private equity REIT, has just closed on a three-building, industrial portfolio in Houston. The announcement was made through HFF, which brokered the transaction on behalf of the seller, East Group Properties.
Bell Partners Acquires Lancaster, White Buffalo Community in Fort Worth
Bell Partners Inc., the nation’s 7th largest apartment renovator and 12th largest apartment operator, recently announced that it closed on behalf of its investors on Lancaster and White Buffalo, a 316-unit community in Fort Worth. According to the company’s official statement, the community will be managed by them and it will be renamed as Bell Lancaster.