News
Mesa West Capital Provides $220M Loan to Refi Burbank, Calif., Office Development
Citing the property’s quality and strong leasing record over the past year, Mesa West Capital provided a $220 million loan to refinance The Pointe, a 14-story, 480,000-square-foot Class A building in the Los Angeles suburb of Burbank.
Starwood Buys San Diego Office Portfolio for $327M
In two separate transactions, an affiliate of Starwood Capital Group Global has acquired 13 office properties totaling nearly 1.1 million square feet throughout the Sorrento Mesa and Rancho Bernardo submarkets of San Diego from Kilroy Realty Corp. for $327 million.
Economy Watch: Retail Sales Eke Out Increase; SoCal Home Sales Drop in December; Small Businesses More Optimistic
U.S. retail and food services sales were $431.9 billion in December, an increase of 0.2 percent from the previous month and 4.1 percent above the total in December 2012. Southern California home sales fell to a six-year low for the month of December. And the small-business optimism index ended December at 93.9, slightly up from November but below the previous three mid-2013 readings of over 94 and six points below the pre-recession average.
Bentall Kennedy Acquires Retail Center Portfolio from Canada Pension Plan Investment Board
On behalf of its Prime Canadian Property Fund, Bentall Kennedy has acquired a 100 percent freehold interest in three of Canada’s regional shopping centers.
Economy Watch Weekly: Fed Finally Decides to Taper
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Jan. 10 (This podcast was slated for December 24, but never ran due to the Christmas holiday).
Fundraising for Direct Investments Reaches Record-Breaking $25B in 2013
Investors couldn’t get enough of non-listed REITs–and non-listed business development companies and other direct participation programs–in 2013, according to research released by The Investment Program Association and Robert A. Stanger & Co. Fundraising for these direct investments surpassed $25 billion last year.
McCarthy Cook & Co. JV Buys 213 KSF Office Campus in San Diego
McCarthy Cook & Co. has teamed with AllianceBernstein U.S. Real Estate Partners on the acquisition of Canyon Plaza, a two-building, 213,000-square-foot office campus located in San Diego.
Invesco Buys 388 KSF San Francisco Office Tower from Hines
Invesco Real Estate has purchased the 24-story, 388,370-square-foot Class A office tower at 101 Second St. in San Francisco’s SoMa district from Hines.
Economy Watch: Federal Government Records Surplus; Retailers Do Well in December
The U.S. took in a surplus of $53.2 billion during the last month of 2013, which was more than expected. And chain-store comparable sales were up 3.4 percent in December 2013, compared with the same month a year earlier.
Astor Crowne Plaza Hotel Sold for $116M, While Royal St. Charles Goes for $10M
Two French Quarter hotels have been traded since 2014 kicked off, showing how sizzling hot the New Orleans hospitality market is.
You must be logged in to post a comment.