News
Brooklyn’s Gateway Elton Street Moves to Phase II
Two years after work started on Gateway Elton Street, a three-phase public/private green housing development in the Spring Creek neighborhood of Brooklyn, representatives of the NYC Department of Housing Preservation and Development (HPD) and the Hudson Companies , Related Companies, and CAMBA Housing Ventures gathered at the site to celebrate the groundbreaking of the project’s next phase.
Three-Building Industrial Portfolio in Sunrise Trades for Nearly $40M
CBRE has recently assisted Irving, TX.-based Cobalt Capital Partners in finding a buyer for a three-building, Class A industrial portfolio located within the prestigious Sawgrass International Corporate Park in Sunrise, Florida. Industrial Income Trust of Denver, Colorado, paid $39,350,000 for the Sunrise Distribution Center, located at 900 International Parkway, 14599 NW 8th Street, and 13801 NW 4th Street.
32-story Uptown Office Building Hits the Market
Following hot on the heels of last week’s sale of One Wells Fargo Center another uptown office high-rise has just hit the market.
Engineering Firm Nears Milestone at $1B NYC Office Tower
The temporary halt in development of Boston Properties’ 1 million-square-foot office project at 250 W. 55th St. in Midtown Manhattan grows smaller and smaller in the rearview mirror as building activity moves closer toward completion, and Arup is the latest participant in the endeavor to achieve a major goal.
Colliers Wins Assignment to Market GSA Portfolio
A $118 million, 16-property office portfolio fully leased to federal agencies through the Government Services Administration is on the market and attracting interest from both U.S. and international buyers.
General Growth Gets $1.5B Refi on 16 Malls
General Growth Properties, U.S. Bank and RBC Capital Markets have closed on a $1.5 billion secured term loan refinancing 16 of GGP’s properties in the United States.
Economy Watch: Construction Spending Drops; Manufacturing Slightly Up; ADP Jobs Numbers Low
Construction spending during March 2013 was at an annualized rate of $857 billion, or 1.7 percent below the revised February figure. The manufacturing sector continued to expand in April, but barely. And the private sector generated 119,000 new jobs in April, which was fewer than expected.
David Durning: Prudential’s Financing Goals for 2013
At the 2013 Mortgage Bankers Association CREF/Multifamily Housing Conference, David Durning, president and CEO of Prudential Mortgage Capital Co., explains Prudential’s targets for balance sheet, Fannie Mae, Freddie Mac and FHA, CMBS and bridge financing for 2013.
JLL’s Marisha Clinton on Emerging Real Estate Markets and Industries
Marisha Clinton, director of research, Capital Markets, at Jones Lang LaSalle, names markets and industries that are on the “to watch” list for real estate investors.
Waterman Completes 75-Year Master Lease at NYC’s 400 Park Ave.
Waterman Interests Inc. signed a new 75-year master lease for the leasehold interest on 400 Park Ave. with Benenson Capital Partners, the longtime owner of the land beneath the 250,000-square-foot property.