News
Bascom Group, Oaktree JV Buys New M-F Asset in Henderson
A Henderson multifamily asset recently traded hands when a Bascom Group venture and funds managed by Oaktree Capital Management LP moved on the local market for a new acquisition. The $250 million venture is now the new owner of The Edge at Traverse Point residential community after the deal was officially closed at the end of last month.
Forest City, Greenland USA Rename $4.9B Atlantic Yards
Greenland Forest City has just changed the name of the 22-acre mixed-use development to Pacific Park Brooklyn.
INTERNATIONAL: Immofinanz Sells Warsaw, Prague Logistics Facilities
Bokserska Distribution Park in Warsaw and Westpoint Distribution Park in Prague sold above book value to Czech and British private investors.
Starwood Opens St. Regis Properties in Kazakhstan
Starwood Hotels & Resorts Worldwide Inc. is moving ahead with its plan to expand into emerging markets by opening The St. Regis Astana and The Residences at The St. Regis Astana in Kazakhstan in 2017.
In REIT-Eat-REIT Deal, NorthStar to Acquire Griffin-American Healthcare REIT II
NorthStar Realty Finance Corp. will acquire all of the outstanding shares of Griffin-American Healthcare REIT II Inc. in a stock-and-cash transaction.
Economy Watch: Home Price Increases Continue to Slow; Non-Manufacturing Sector Grows
Home prices nationwide, including distressed sales, increased 7.5 percent in June 2014 over the previous year, while economic activity in the non-manufacturing sector grew last month for the 54th consecutive time.
Economy Watch Weekly: Job Creation
CPE‘s economic analyst, Dees Stribling, gives his update for the week ending Aug. 1, 2014.
USAA Real Estate JV Grabs 280-Unit Multi-Family Tower in Chicago
USAA Real Estate Co. recently joined forces with Golub & Co. to acquire Chestnut Place, a 280-unit apartment building in Chicago.
Moinian Secures Loan for Manhattan’s Largest Apartment Tower Under Construction
Development of 605 West 42nd St., The Moinian Group’s luxury residential tower, can continue now that the firm has secured a construction loan. The New York-based developer also announced that SL Green has signed on as an investor.
Economy Watch: Fed Says Lenders are Loosening Up; Foreclosures Drop
The Federal Reserve reports that domestic lenders are easing standards on construction, land development, and nonresidential commercial loans. Little has changed for prime residential loans, though a separate report by Black Knight shows a decrease in foreclosures.