News
Brookfield Refinances 355 KSF DC Office Building
Brookfield Real Estate Opportunity Fund I has received a $95.5 million first mortgage loan for 64 New York Avenue NE, a 355,000 square-foot office building in Washington D.C.
C&W Expands Mid-Atlantic Presence with Harrisburg, Pa., Office
Cushman & Wakefield is bolstering its presence in the busy I-81 corridor of Central Pennsylvania with the opening of a new office.
Starwood to Bring New Eco-Conscious Brand to Miami Beach
As the result of a combined effort between Starwood Capital Group, Invesco and the LeFrak Organization, South Beach will soon experience a new concept in beachfront luxury hotel living. The developers have unveiled plans for The 1 Hotel & Residences South Beach, a bold project that will combine a residential component with a 417-room SH Group-operated hotel
JV to Deliver New Luxury Apartment Tower in Downtown Austin
StreetLights Residential and Hunt Companies, Inc. have formed a partnership that will build a 19-story glass and brick tower at 214 Barton Springs Rd., just south of the Hyatt Regency Austin. The project is valued at $68 million. Designed by Austin-based Rhode Partners, the luxury multi-family project will feature 300 apartment homes with high design elements modeled after a boutique hotel.
Economy Watch: Homebuilders More Optimistic About 55+ Housing; Consumer Debt, Especially Student Loans, Up; Unemployment Claims Edge Down
Builder confidence in the 55+ housing market improved during the fourth quarter of 2012, compared with the same quarter a year earlier. U.S. consumer credit increased at an annualized rate of 6.5 percent during the fourth quarter, and 6.3 percent for December. And for the week ending Feb. 2, initial unemployment claims were 366,000, a decrease of 5,000 from the previous week.
Mixed-use Midtown Asset Sold for $94M; Suburban Medical Facility Trades for $14M
Birmingham, Alabama-based Colonial properties Trust, Inc. has announced the sale of Metropolitan Midtown in Charlotte, North Carolina. The mixed-use property, developed in 2008 with Pappas Properties brought in sales proceeds of $94.4 million
SPECIAL REPORT: Liquidity Returns to Commercial Real Estate
The commercial real estate financing industry cautiously greeted the rapid return of liquidity into the sector during the Mortgage Bankers Association’s 2013 Commercial Real Estate Finance/Multifamily Housing Convention & Expo.
IDS, Clarion Buy 70 Acres in Suburban Seattle for Industrial Park
IDS Real Estate Group and Clarion Partners have just acquired a 70-acre site in Kent, Wash., for the development of Stryker Business Center at Pacific Gateway, an industrial complex that will encompass as much as 1.5 million square feet of premier space.
Thor, ASB Close on Manhattan Retail/Office Building for $97M
In the latest of several Manhattan acquisitions for both companies, though their first together, a joint venture of Thor Equities and ASB Real Estate Investments’ Allegiance Real Estate Fund has purchased a five-story, 60,000-square-foot property at 875 Washington St. in Manhattan’s Meatpacking District for $97 million.
Brandywine, Campus Crest Partner to Build $158M Student Housing in Philly
Two REITs and a real estate private equity firm are teaming up to develop a $158 million, 33-story, 850-bed student housing tower at Cira Centre South in Philadelphia’s University City section.