News
Ashford, Prudential Complete $216M Financing on Three-Hotel Portfolio
Ashford Hospitality, along with its joint venture partner, Prudential Real Estate Investors, has closed a $216 million refinancing loan secured by non-recourse senior mortgage proceeds for a three-property portfolio of hotels.
Economy Watch: Employment Barely Growing Enough to Keep Up; Non-Manufacturing Sector Still Rising
Employment is growing tepidly. And the non-manufacturing sector grew in December for the 36th consecutive month.
Technip Lands FEED Contract for Potential $700M Plant Expansion
Technip, a global project management, engineering and construction firm targeting the energy industry, has announced it was awarded the front-end engineering and design (FEED) contract by The Mosaic Group for a new ammonia plant under consideration by Mosaic.
Emerging Trends: Outlook 2013
Jonathan Miller, Chuck DiRocco and Mitch Roschelle evaluate Emerging Trends 2013 and offer predictions for the new year.
Orlando University Center’s $33M Sale was 2012’s Second Largest Office Deal
Crocker Partners’ $33 million acquisition of the Orlando University Center office park in late December proved itself to be the second-largest office investment sale in Orlando for 2012. The acquired portfolio includes five suburban office buildings—totaling 386,512 square feet on 27.12 acres—at 3452, 3504 and 3505 Lake Lynda Blvd., and 11301 and 11315 Corporate Blvd., just west of the University of Central Florida in Orlando.
Converse to Relocate HQs on Boston’s Lovejoy Wharf
North Andover, MA-based sneaker giant Converse wrapped 2012 up with a deal for 186,525 square feet of space in the Hoffman Building, one of the structures on Boston’s Lovejoy Wharf.
Developer Announces $67M Mixed-Income Rental Building in Greenpoint
The Domain Companies, a real estate investment and development firm based in New Orleans, officially announced last week that it has secured financing of a new mixed-income development in Greenpoint, Brooklyn’s northernmost neighborhood, through a mix of loans at below-market interest rates from the New York City Housing Development Corporation (NYCHDC) and Goldman Sachs.
Crescent Ready to Kick-Start $67M Luxury Development in Buckhead
Following the purchase of a three-acre site within Cousins Properties’ Terminus development, Crescent Resources, LLC is now set to begin construction on the $67 million Circle Terminus community.
“This site has all the ingredients for a very successful luxury apartment community,” said Ben Collins, regional director for Crescent Resources.
Regency Buys Interest in Philips Place; 476-Unit Apartment Community Sold in $95M Portfolio
Regency Centers Corporation ended December like most of us: on a shopping spree. Regency, a national owner, operator, and developer of grocery-anchored and community shopping centers acquired four shopping centers in the last month of November, at a total purchase price of $188.5 million.
24-Property CRE Portfolio Reels in $607M in Financing
Acting on behalf of a pension fund advised by Invesco, RREEF Real Estate and TA Associates Realty, HFF has orchestrated financing totaling $607 million for a real estate portfolio encompassing 5 million square feet of commercial space and 3,499 multi-family units.