News
HFF Arranges $114M Financing for Cousins’ 775 KSF Office Tower in Atlanta
When obtaining the billion dollars in cash for a recent office portfolio purchase, Cousins grabbed a little bit from here, a lot from there and additional funds from the $114 million financing of its 774,000-square-foot Promenade office building in Atlanta.
Orbach Buys 33-Building M-F Portfolio in Manhattan for $250M
In a two-part transaction, The Orbach Group has purchased a 33-building, 1,031-unit high-end multi-family portfolio on Manhattan’s Upper West Side for about $250 million.
Economy Watch: Residential Prices, Industrial Production Continue Climbing
FNC’s Residential Price Index was up 0.07 percent in July compared with June. And industrial production was up 0.4 percent in August compared with July.
Franklin Street Properties Expands Denver Office Portfolio
Wakefield, Mass.-based Franklin Street Properties recently announced it has closed on the acquisition of a 20-story, multi-tenant office building and retail plaza situated in the central business district of Denver, Colorado.
Inland Real Estate, PGGM Acquire 3 Retail Centers for $24.2M
In an off-market transaction, a joint venture between Illinois investor Inland Real Estate Corp. and Dutch pension fund advisor PGGM has paid $24.2 million to acquire three Walmart-anchored shopping centers in the Milwaukee area.
Anderson Development Details Plans for Mixed-Use Project at Geneva Steel Site
Set to become the new development hotbed for the Salt Lake area, the site of the former Geneva Steel plant has been in the news for a number of times over the past years. After the collapse of the Real Salt Lake stadium project, Anderson Development had recalibrated its sights and decided to get a massive mixed-use community to the 100 acres of land available at the site. Now, a number of retailers and developers have projects lined up, finally populating the Geneva Steel master planned community’s development pipeline.
ConAm Group CEO Forrester Resigns
The ConAm Group of Companies will soon lose its CEO. J. Bradley Forrester, who has held the position at the San Diego-based real estate investment and services firm since 2005, recently announced his resignation.
Clarion Buys ‘Jewel Box’ Boston Building for $54M
One Liberty Square, a 13-story, 157,500-square-foot office building in Boston’s financial district, has been purchased for $54 million by Clarion Partners.
Hines Buys 2 More Logistics Facilities in Poland
Hines has acquired two logistics facilities in Poland, totaling seven warehouses comprising 753,200 square feet, via its Hines Russia & Poland Fund from TMW Pramerica Property Investment GmbH.
Economy Watch: Retail Sales Inch up in August; FOMC to Decide on Tapering; California Town to Acquire Underwater Mortgages
U.S. retail sales increased by a smallish 0.2 percent in August compared with July. This week, the Fed will very likely announce whether it’s planning to do a tapering of QE3. And Richmond, Calif., has approved a plan to use its powers of eminent domain to acquire underwater mortgages within the town at deep discounts to the properties’ market valuations.