News
New York City Spotlight: Rising Rates
(office sales by number of transactions and sales volume)
W. P. Carey to Develop Build-to-Suit Office Facility in Germany for $65M
By Barbra Murray, Contributing Editor W.P. Carey has expanded its presence in Europe for the second time in a month. The REIT just announced a build-to-suit contract for a new office property to be occupied by Banco Santander S.A. in Monchengladbach, Germany. The Class A building will cost $65 million to develop and, upon completion, will be occupied by the international bank under a long-term leaseback agreement. “As a 20-year net lease to one of the world’s leading banks for one of their core German assets, the investment is consistent with our strategy of growing our global portfolio with quality…
WTGoodman JV Buys Warehouse Portfolio in Brazil for $1.4B
WTorre SA and the Goodman Group created a joint venture that would focus on the industrial real estate market, buying a massive warehouse portfolio for $1.4 billion.
Beech Street Capital Refinances 8 Housing Communities for $158M
Beech Street Capital closed a refinancing deal on seven Fannie Mae loans for eight housing commmunities totaling $158 million.
RKF Expands into Canada
RKF, which specializes in retail leasing, investment sales and consulting services, is crossing the border to open its first office in Canada and has named Canadian retail services veteran Steven Alikakos to run the operation in Toronto.
Campus Advantage Acquires 850-Bed Student Housing Community in Kennesaw, Ga.
Campus Advantage has purchased West 22, a 245-unit, 850-bed student housing community serving Kennesaw State University in Kennesaw, Ga., from a joint venture between South City Partners and The Carlyle Group.
Economy Watch: 200k+ Jobs Created in November; GDP Expands on Inventory Growth
The U.S. economy created 203,000 jobs in November, roughly the same as in October. And the real gross domestic product increased at an annual rate of 3.6 percent in the third quarter of 2013.
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