News
Small San Diego Apartment Communities Trade Hands in Deals Totaling $10M
Two small deals were perfected for San Diego-area multifamily properties recently with the combined transaction value of just under $10 million. The Coronado Villa Apartments in San Diego and a Pacific Beach multifamily property both have new owners after trading hands for fees of $5.7 million and $4 million, respectively.
Thorofare Capital-Arranged Loan Leads to Sale of Final Condo Units at The Martin
Thorofare Capital, an alternative investment platform, recently announced that it had provided a $4 million short-term loan to finance the acquisition of a condo unit portfolio at The Martin. The sponsor will use the financing to acquire the final units under the ownership of the tower’s developer, and then focus on selling the condos to foreign investors. KCD Martin is buying the units from New York-based iStar Financial.
INTERNATIONAL: Asian Investors Unveil Mixed-Use Development Projects in Brisbane
Heeton Holdings Limited, Lian Beng Group Ltd. and KSH Holdings Ltd. have announced plans for the construction of an approximately $139 million development.
Starwood Grabs 840 KSF Office Portfolio in Poland
Starwood Capital Group continues its acquisition activity on behalf of a Starwood distressed opportunity fund.
Morgan Stanley Real Estate Teams With Terranova on $342M Acquisition
Morgan Stanley Real Estate Investing, along with affiliates of Terranova, has acquired Lincoln Road assets in Miami.
Harrison Street Buys Seniors Housing Portfolio for $520M
Harrison Street Real Estate Capital has completed its acquisition of seniors housing properties located in the Northeast.
Economy Watch: Fed’s July Meeting Minutes; Architects are Busier
The Fed released the minutes of its July 29-30 meeting; and the American Institute of Architects reported indices pertaining to demand for design services.
Toll Brothers Moves Forward with Master-Planned Community Next to The Woodlands
A new master-planned community is in the works west of The Woodlands. Developed by renowned Toll Brothers, the community will be spread across 600 acres along FM 2978, according to the Houston Business Journal.
555 Montgomery Street Property Management Contract Awarded to Kennedy Wilson
Kennedy Wilson is the new property manager of a San Francisco office high-rise after the company was awarded the contract for 555 Montgomery Street. KW will now handle property management duties at the property on behalf of owner East West Bank, a Pasadena-based financial entity.
Kimpton Hotels & Restaurants to Convert Iconic Chicago LaSalle Building into Four-Star Hotel
Kimpton Hotels & Restaurants recently announced it has purchased the landmark Chicago building located at 39 South LaSalle St., with plans to convert it into a four-star, 281-room hotel.