News
Citi, Simone Provide NMTC Financing for Metro Center Atrium in the Bronx
Simone and Citi Community Capital, acting in partnership with Monge Capital, provided New Markets Tax Credit financing for the construction of the 370,000-square-foot project which, as home to many healthcare and social services providers, will help fill the gap in medical services in the area.
Harrison Street Completes Largest Self-Storage Portfolio Sale of 2013
Public Storage REIT has acquired a portfolio of 43 self-storage properties totaling 22,500 units in five states from Harrison Street, accounting for the largest self-storage portfolio transaction of 2013 so far.
Trio of Lenders Provide $850M for Tysons Corner Center Refi
Prudential Mortgage Capital, Northwestern Mutual and TIAA-CREF each chipped in $283 million, for a total $850 million, to refinance Tysons Corner Center in metro Washington, D.C.
Economy Watch: The Impasse Drags On; Asian Growth Expected to Slow
The federal government shutdown continued throughout the weekend, though the House voted unanimously on Friday to pay furloughed government workers. The World Bank has lowered its growth forecasts for most of East Asia, citing weak commodity prices.
Big Money Land Deal Paves Way for $750 Multifamily Development Project
As far as land deals go, reports rarely come in about landmark transactions in a major city’s Central Business District. However, a joint venture between Mack Urban and AECOM Capital has recently made public the acquisition of a six-acre land parcel in L.A.’s CBD. The value of the deal is estimated at around $80 million, making it by far the largest transaction of its kind in the area since 2008. The JV acquired the downtown property from former owner, EVOQ Properties.
Acer Exhibits and Events Buys 167,000 Sq. Ft. Warehouse in Havre de Grace
Acer Exhibits and Events, LLC, a full service custom exhibits agency, has purchased the 167,270-square-foot facility at 1601 Clark Road, in nearby Havre de Grace, and plans to turn it into its new headquarters. The Belcamp-based company acquired the warehouse from Michigan-based Becker Properties for $3 million, or about $17.94 per square foot.
DMB Sells Tempe’s Centerpoint on Mill for $38M; Wood Partners to Build Luxury M-F Complex in Scottsdale
In a $38.35 million deal, Scottsdale-based DMB, Inc. sold Centerpoint on Mill, a 127,027 square-foot commercial property in the heart of downtown Tempe,
Cole Buys Coventry Retail Center for $11.6M; Gilbane Gets Green Light for East Side M-F Project
Cole Capital Advisors Inc. has acquired Coventry Crossing, a 20,752-square-foot CVS-anchored shopping center in Coventry, for $11.6 million, or $559 per square foot.
LexisNexis Chooses 120,000-Sq.-Ft. in Centennial Campus for Expansion
Legal research firm LexisNexis has announced it would relocate its software division from Cary to Raleigh to accommodate the company’s growth. According to the Triangle Business Journal, LexisNexis will occupy the 120,000-square-foot office building on Centennial Campus that technology firm Red Hat had vacated earlier this year when it relocated to downtown Raleigh.
Tampa Council Approves $6.5M Restoration of Long-Closed Water Works Park
Water Works Park, tucked away just north of Interstate 275 on the edge of downtown Tampa, is soon to be reopened after decades of neglect. The City Council voted on Thursday the 26thof September to move ahead on a $6.5 million plan to restore the park until the spring of 2014.