News
Shifting Value
(national cap rate performance, based on properties and portfolios of $2.5 million and greater)
Growth Factor
(employed and unemployed persons by occupation; not seasonally adjusted; numbers in thousands)
Sentinel Buys Luxury M-F in Scottsdale for $58M; Fountain Hills Plaza Commands $21M
In a $57.75 million deal, New York City-based Sentinel Real Estate Corporation purchased The Paragon at Kierland, a 276-unit, Class A luxury apartment complex located on the Westin Kierland Golf Course in Scottsdale, from Sunstone Realty Advisors of Vancouver, Canada.
Summer Slowdown
Value of manufacturers’ new orders; not seasonally adjusted; $ in millions
Cornerstone Sells 187 KSF Former Twitter HQ in San Francisco to ASB
Cornerstone traded 795 Folsom St., a six-story Class A office building in the South of Market district, for $110 million to ASB Real Estate Investments.
Crow Holdings Capital Closes Crow Holdings Realty Fund VI at $1B, Makes 15 Investments
Crow Holdings Capital Partners, which recently closed a new fund totaling $1 billion, has started putting the money to work across the United States. The fund has made 15 investments in industrial, medical office and retail holdings, along with 2,260 units of multi-family housing.
Economy Watch: Debt-Ceiling Deal Possible; Initial Unemployment Numbers Spike
The House of Representatives might vote on a no-strings-attached raising of the debt ceiling before long, but one that will last only until about Thanksgiving. For the week ending Oct. 5, initial unemployment claims were 374,000, an increase of 66,000 from the previous week.