News
Emporis Reveals World’s Most Spectacular Bank Buildings
Emporis, the international provider of building data, has compiled a list of the most imposing and architecturally distinct bank buildings in the world.
$9.5M Purchase of Industrial Facility by Gramercy Property Trust
By Anca Gagiuc, Associate Editor
The real estate investment trust Gramercy Property Trust announced the acquisition of an industrial facility in Austin. The transaction went through after the company executed definitive agreements for a private placement of 11,545,200 shares of common equity at $4.11 per share. The Private Placement raised gross proceeds of $47.4 million.
Goddard Grabs 440 KSF Class A Office Building in Atlanta
Acting through the Goddard Value-Add Office Fund I, Goddard purchased the 440,000-square-foot Class A asset, perched atop Mount Wilkinson in Atlanta’s historic Vinings neighborhood, from a Parmenter Realty Partners fund.
Greystone Launches New Affordable Loan Program
Greystone has launched its Greystone Affordable Loan Program, which provides long-term, fixed, forward rate-lock financing for multi-family affordable housing properties.
Historic Buildings to Become Mixed-Use Community in Old City
Behind the $20 million project is Alterra Property Group, a locally-based real estate investment, development and management company who has built and/or redeveloped hundreds of housing units in Philadelphia’s historic district.
Texas Doctor Wins Bid for Packard Plant—But Will She Pay?
After an intense bidding war that amounted to 117 online bidders and last-minute skyrocketing amounts, the largest industrial ruin in Detroit was sold to a family practice doctor from suburban Dallas, for just above $6 million. It appears that Jill Van Horn of Ennis, Texas, who won the Wayne County tax-foreclosure auction for the abandoned Packard Plant, along with several still-to-be-identified investors from Detroit could breathe new life into the century-old crumbling plant.
Hines, Goldman Partner with Pontiac Land on High-Profile NYC Condo Development
Backed by $860 million in construction financing from a consortium of Asian bankers, a high-profile luxury condominium project planned for 53 W. 53rd St. next to the Museum of Modern Art, is moving forward after stalling during the recession.
Allegheny Center Apartment Community in Pittsburgh’s North Shore Up for Sale
The 800-unit apartment complex at Allegheny Center in Pittsburgh’s North Shore has been listed for sale. According to the Pittsburgh Business Times, the local office of CBRE is marketing the Pittsburgh Apartments property, which is owned by Allegheny Center Associates.
Economy Watch: Fed Says No Taper for Its Stimulus; CPI Points to Very Low Inflation; ADP Reports Modest Job Growth
The Federal Open Market Committee said on Wednesday it isn’t going to taper its stimulus just yet. The Bureau of Labor Statistics reported that there hasn’t been much inflation. And according to ADP, the private sector added 130,000 jobs in October.
Coldwell Banker Commercial Principals Acquire, Re-Brand Salt Lake City Office
The Salt Lake City office of Coldwell Banker Commercial was recently acquired by a group of private investors from NRT LLC. The buying entity, consisting of real estate agents Brandon Fugal, Tim Simonsen and Stuart Thain, has also announced that the newly formed company will also enlist Lew Cramer, the founder and chief executive officer of the World Trade Center Utah, as its CEO.