News
Boston Properties to Sell Ownership Interest in Times Square Tower for $684M
Boston Properties has entered into a binding purchase and sale agreement to sell a 45 percent interest in the ground leasehold interest and related tax credits in New York City’s Times Square Tower to an affiliate of Norges Bank for a purchase price of $684 million in cash.
Transwestern’s Latest Expansion Move
Transwestern’s president of the Americas, Chip Clarke, chats with CPE about his company’s latest expansion move through the purchase of Richards Barry Joyce & Partners, a full-service real estate firm based in Boston.
Economy Watch: Consumer Credit, Ultra-Wealth Population on the Upswing
Consumer credit went up again, increasing at an annualized rate of 4.5 percent in July. And despite recent economic bumps, the world’s ultra wealthy population – those with total net assets of U.S.$30 million and above – has reached an all-time high of 199,235 individuals.
CBRE Manages Sale of Westover Springs
A Class A multi-housing community in northwest San Antonio has been taken off the market as result of the successful representation by CBRE Central Texas Multi-Housing Group. Charles Cirar, Ryan Epstein and Michael Wardlaw represented the seller and Jim Kirkpatrick and Jim Richards with CBRE’s Debt and Equity Finance Group arranged the financing for Westover Springs located at 12105 State Highway 151.
Private Healthcare RE Developer Eyes Mid-City
It seems that the lure of the New Orleans BioDistrict has attracted a new player to the New Orleans health care and biosciences market.
Balfour Beatty Construction Selected for George Mason University Student Housing Project
The George Mason University in Fairfax is growing and looking to become an active 24/7 campus. To help meet the continuing demand for undergraduate housing, the university has selected Balfour Beatty Construction to lead the design-build team for their new student housing facility, Shenandoah Housing VIIIB, also called Taylor Hall. Balfour Beatty Construction has worked on three other projects for George Mason University, including the construction of another housing facility.
Berkeley Closes $325M Refinance Loan for San Francisco’s Gateway
It’s a big property with a big financing deal. The Gateway, a 1,254-unit multi-family community spanning three blocks in San Francisco, has been refinanced to the tune of $325 million, courtesy of a loan closed by Berkeley Point Capital and Freddie Mac.
Prologis to Develop 3 Buildings in UK
San Francisco-based Prologis will begin development on three buildings with a total of 700,000 square feet in the United Kingdom.
Calling Plan: American Tower to Buy Global Tower Partners for $4.8B
American Tower Corp. has agreed to acquire MIP Tower Holdings, a private REIT and the parent company of Global Tower Partners and related companies, for $4.8 billion.
Economy Watch: Tepid Jobs Numbers Might Affect QE3 Tapering
The less-than-inspiring jobs numbers on Friday did manage to inspire speculation about the winding down of the Federal Reserve’s bond-buying program, but the Federal Open Market Committee won’t be meeting until later in the month.