News
G&L Realty Gets $264M Refi for Southern Calif. Medical Portfolios
US Bank provided Beverly Hills-based G&L with $176.5 million in financing for five medical office and retail properties in the Golden Triangle district of Beverly Hills, plus a $63.5 million loan for a portfolio of three medical office buildings in other major Southern California submarkets.
Inland, MAB Launch $325M Retail Development Plan for Southeast
The joint venture’s five-year development plan will target demographically strong metropolitan areas in the Carolinas, Georgia, Florida, Virginia and Washington, D.C., and is expected to result in the construction of as many as 20 new grocery-anchored shopping centers.
Economy Watch: Big Shifts Ahead for Energy Consumption; Small Businesses Get Grumpier
Improved extraction technology and higher prices are opening up new oil resources, but that doesn’t mean the world is on the verge of an era of oil abundance, the International Energy Agency reported.
Economy Watch Weekly: Unusually Strong Jobs Report for October
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Nov. 8
NRP to Develop 348-Unit Apartment Community in Ohio
The NRP Group is developing The Vue, a new four-story, 348-apartment community in Beachwood, Ohio.
Law Firm Renews Lease of 150 KSF Silicon Valley Office Building
Fenwick & West is staying put in its Silicon Valley digs at 400 Castro St. in Mountain View, Calif., for the long term. The law firm recently renewed its lease of every single square foot of office space at the 150,000-square-foot property with owner Tishman Speyer, making its downtown address permanent for the next 15 years.
SL Green Acquires Interest in Manhattan’s Embattled 650 Fifth Ave.
A joint venture between SL Green Realty and Jeff Sutton has acquired a 49-year leasehold interest covering the retail portion of 650 Fifth Ave., an office tower with decades-long ties to the Iranian government and now in legal limbo as a result.
Economy Watch: Some City Budgets Reach Pre-Recessionary Levels; Personal Income Peaks
Some of the largest U.S. cities have seen their municipal budgets recover from the lows of the recession, when steep drops in tax revenue and other income cut into city coffers. And U.S. personal income increased $67 billion, or 0.5 percent, in September compared with August.
Sevona Westover Hills Community Acquired by Steel Castle Property Partners
Renowned real estate investment vehicle, Steel Castle Property Partners, announced the acquisition of a Class A multifamily property in San Antonio’s distinguished Westover Hills community. The transaction was performed through Steel Castle Capital LLC, a boutique real estate investment management firm with offices on both coasts.
Massive New Orleans Auction Includes Hundreds of Apartment Units
Looking for a strip mall? A CBD condo? A fourplex? Or maybe a 344-unit apartment complex? If the answer is yes, save the date: November 21st.
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