News
San Francisco Single Family Housing Inventory Constrained; Santa Clara University Pens Expansion Deal
After months of growth in terms of price and number of sales, San Francisco’s housing market reached an important milestone earlier in the year when the median value of a home in the area exceeded the $1 million mark. The improving market has clearly taken its toll on the city’s housing stock as The San Francisco Business Times recently reported that there are 30 percent fewer available homes on the market now than the same time last year.
Economy Watch Weekly: People Buying More, Housing Stronger, U.S. Growth Still Middling
CPE’s economic analyst, Dees Stribling, gives his update for the week ending June 14.
$127M in Financing Closes for 37-Property CRE Portfolio
It has a little bit of this and a little bit of that, and now it has $127.5 million in financing. A 2.3 million-square-foot portfolio encompassing 37 industrial, office and retail properties in metropolitan Philadelphia and Melbourne, Fla., has landed a three-year loan provided by Natixis Real Estate Capital.
Grossman Co. Receives $88M Financing for Arizona Grand Resort
Grossman Company Properties has secured $88 million in financing for its 740-key, all-suite Arizona Grand Resort located in Phoenix.
Griffin-American Buys 21 Buildings in Five States for $141M
Griffin-American Healthcare REIT II has acquired 21 healthcare-related buildings in five states for $141.3 million, pushing the REIT co-sponsored by American Healthcare Investors and Griffin Capital Corp. to an overall portfolio value of $1.6 billion.
Economy Watch: Homebuilders Happy; FNC Home Price Index Up; Investors Pleased About G-8
Homebuilders have finally climbed out of their economic slump, with the National Association of Home Builders housing market index increasing eight points. Home prices were also up 0.7 percent. And investors reflected their confidence about the G-8 summit through stocks spiking yesterday.
Morgan, DRA Buy 620-Unit Northampton Apartments in Largo, Md.
The 620-unit Northampton Apartments in Largo, Md., located roughly 15 miles outside of Washington, D.C., has come under new ownership. Acting in a partnership, Morgan Properties and DRA Advisors acquired the multi-family property from Equity Residential for approximately $95 million.
$2B Deal to Transform Old London Docks into Innovation Hub
London is getting ready to redevelop London’s Royal Docks, a $2 billion project dubbed Silvertown Quays, which will be the second phase in the redevelopment of the Silvertown area.
Boston Investor Acquires Gateway Center in Downtown Providence for $13.2M
In a $13.2 million deal, Albany Road Real Estate Partners of Boston has purchased the four-story 117,000-square-foot Gateway Center in downtown Providence. According to the Providence Journal, the transaction closed on May 23. Bank Rhode Island financed the acquisition with a $10-million, 10-year loan.
1.2 MSF Office Complex Sold In Metairie
One of Louisiana’s biggest office complexes has just sold. The three-tower Lakeway Center, in Metairie, suburban New Orleans was purchased by New York-based The Feil Organization for an undisclosed amount.
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