News
Cassidy Turley Secures $181M Permanent Financing for Trophy Office Building in DC
Cassidy Turley secured a $181 million permanent financing loan for Washington, D.C.’s newest trophy office development, 1000 Connecticut Ave., a 12-story, 382,988-square-foot building located in the city’s CBD overlooking the White House.
Economy Watch: Bankruptcy Cases, Mortgage Applications Drop; Fannie Mae Reports Profit
Bankruptcy cases filed in federal courts for fiscal year 2012 were down 14 percent compared to last year. The improvements in the housing market are slowly dragging Fannie Mae to improvement, reporting a much higher net income. Mortgage applications have decreased due to recent weather effects.
Two Apartment Projects Totaling 500 Units to Break Ground in Residential Community
In the coming months, two projects are expected to break ground at the Heritage residential community in Wake Forest. According to the NewsObserver, the new developments will bring more than 500 units to Heritage. Atlanta-based TWO Capital Partners will develop Capital Creek, a 315-unit apartment complex. The project will be built on a 26-acre site next to Heritage Middle School. The company expects to purchase the land in February and open the property by next fall. The second development is a 260-unit apartment complex called Heritage Gardens. Greensboro-based Certus Properties will build the project on a 17-acre parcel of land. The company recently purchased the property for $1.74 million and expects to open the new complex late next year.
MAA Joins Hallmark, Bristol on Development of $37M Mixed-Use Project
Less than a week before groundbreaking, a major multifamily player is added to the construction team of the newest residential and retail project in the Brooklyn area of downtown Jacksonville.
City of San Francisco to Complete 100K-square-foot Lease Agreement with Laurus
By Alex Girda, Associate Editor The Laurus Coporation is cashing in on one of its earlier San Francisco Bay Area investments. The company has recently announced it is negotiating a leasing agreement for a large chunk of space at its 1155 Market St. property. The L.A.-based investment company is currently holding talks with the City […]
Performa Free to Transfer Beale Street Lease to City
Performa Entertainment Real Estate Inc. has cleared the final roadblock in the way of finalizing a lease transfer agreement with the City Of Memphis for the Beale Street Entertainment District.
Freeport-McMoRan Buys and Occupies 85,000SF American Airlines Building
Phoenix-based Freeport-McMoRan Copper & Gold, a global mining company, has purchased the American Airlines building in Tucson for $5.2 million. The 85,000-square-foot call center building, located at 3350 E. Valencia Road, was closed in August and has been vacant ever since, reports the Inside Tucson Business.
AFL-CIO BIT Announces Investment in Wolf Point Development; Developer Smoothes Infrastructure Details
The AFL-CIO Building Investment Trust recently announced an investment in the proposed Wolf Point Development. The BIT joins Hines, Kennedy Enterprises and the Magellan Development Group in an effort to revitalize the long-stagnating site along Chicago’s river, one of the last prime undeveloped pieces of land around downtown Chicago.
Wood Partners Breaks Ground on 297-Unit Transit-Oriented Multifamily Development in Broomfield
Wood Partners, one of the largest multifamily developers in the country, recently broke ground on a 297-unit apartment community in Broomfield. Located at the southeast corner of Wadsworth Boulevard and 118th Avenue on 13.75 acres, the three-story Alta Harvest Station Apartments is scheduled to be completed in February 2014.
TCC, Clarion, Rosewood Kick Off 1MSF Dallas Office Complex
The Dallas industrial market is about to get a lot bigger, courtesy of a 1 million-square-foot project by Trammell Crow Co., Clarion Partners and Rosewood Property Co.