News
Podcast – Top Developers Ramping Up
In this month’s Power Index Podcast we take a look at what the leading developers are building. Multifamily development activity still leads the industry-wide pipeline, with the majority of activity occurring on the coastal and southern metro areas.
Transwestern Brokers Sale of Oak Creek Center Office Portfolio
Transwestern’s Chicago office recently announced that it has brokered, on behalf of KBS Realty Advisors, the sale of the Oak Creek Center office portfolio in Lombard, Ill. A joint venture between Investcorp and Golub acquired the 427,161-square-foot office portfolio for $39.5 million.
William Lyon Homes Inc. Acquires Village Homes
By Gabriel Circiog, Associate Editor
William Lyon Homes Inc. recently announced that it has entered the Colorado market after acquiring various entities under the Village Homes name in the Denver metro, Fort Collins, and Granby markets.
Speaking of the deal, […]
Hong Kong, NYC Close Q3 as Priciest Retail Markets
Hong Kong and New York City kicked off 2012 at the top of the list of the world’s most expensive retail markets. Barring any major developments, it appears the globally-coveted shopping metropolises are going to end the year without a threat to their respective first- and second-place positions, judging by CBRE Group Inc.’s third-quarter MarketView research report.
TMG Partners Acquires Recently Vacated Office Property, Seeks to Improve Existing Space
A vacant North San Jose office building was recently acquired by San Francisco-based real estate company TMG Partners. The buyer acquired the Class A property with the aid of equity partner Alcion Ventures LP. The seller was real estate investment company Kaufman Jacobs out of Chicago. The deal was perfected for an undisclosed amount with the buyers representing themselves and Kaufman Jacobs employing Mark Ziemendorf, a representative of Cornish and Carey, Newmark Knight Frank.
Friedland Properties Buys NYC’s 706 Madison Ave. for $142M
JLL represented BNY Mellon in the sale of 706 Madison Ave., a 19,100-square-foot, premier retail building that was sold to Friedland Properties for $142 million.
WNC Closes $124M Federal Low-Income Housing Tax Credit
WNC finishes out the year on a high note with the closing of a $124 million federal low-income housing tax credit fund that will be invested in 20 affordable housing projects across the United States and a Hawaii state tax credit fund of almost $5 million that will be used for a seniors housing project in Honolulu.
Economy Watch: Homebuilders Feeling a Bit More Optimistic; For-Sale Residential Inventory Low; Fiscal Cliff Optimism
Homebuilders are still feeling more positive about their business than they have in a long time. The total U.S. for-sale inventory of single-family homes, condos, townhomes and co-ops dropped to its lowest level since 2007. And both partisan sides are said to be approaching a deal on the fiscal cliff matter.
How Does Obama’s Second-Term Win Affect CRE?
With an acrimonious and seemingly endless presidential campaign finally completed, CRE experts are watching to see how newly re-elected President Barack Obama and Congress deal with a host of financial issues impacting the real estate market, including the budget deficit, debt and spending, tax rates, capital gains taxes and job creation.
Village Green and L3C Capital Partners Expand Multifamily Partneship in Creve Coeur, Lake St. Louis Markets
Village Green and L3C Capital Partners LLC have recently announced a new multifamily housing partnership in the St. Louis area. New York-based investment company, L3C Capital Partners LLC recently acquired a portfolio which includes four St. Louis multifamily communities. The four luxury apartment communities located in the Creve Coeur and Lake St. Louis markets, Cross Creek, Cove West, Westchase and Cedar Lakes, will each undergo multi-million dollar renovations which will include individual apartment upgrades.