News
RedPeak Properties to Break Ground on New Apartment Complex
By Gabriel Circiog, Associate Editor RedPeak Properties is breaking ground on a new apartment complex in Denver’s uptown neighborhood, The Denver Post reports. Located between 18th and 19th avenues and Logan and Pennsylvania streets, the 302-unit apartment complex—One City Block—was designed and will be built to achieve LEED Silver Certification. The complex will feature studios […]
Brennan Investment Grabs National Industrial Portfolio for $155M
In a joint venture with London-based Gatehouse Bank plc, the private real estate investment firm acquired a national industrial portfolio from an affiliate of AIC Ventures.
Jones Lang LaSalle Scores Contract as U.K. Corporation's Exclusive Global RE Advisor
Jones Lang LaSalle’s corporate solutions group has been named the exclusive real estate services advisor for U.K.-based Logica’s worldwide property portfolio.
PREI, Urban Pacific Turn Dirt on 52-Story Condo High-Rise in San Francisco Hotspot
Demand for such dwellings is so substantial that the developers have committed to paying the city of San Francisco a $15.1 million fee to compensate for the exclusion of below-market-rate units.
Federal Realty Breaks Ground on 3.4 MSF Mixed-Use TOD in Rockville
The REIT is investing $250 million in the project’s first phase, a Federal Realty spokesperson told Commercial Property Executive.
Economy Watch: Shoppers Not Shopping Quite as Much This Summer; HARP Refis Hit Record High; NY Fed Reports Modest Expansion
U.S. retail sales dropped 0.5 percent in June compared with May, but were up by 3.8 percent year-over-year, according to the Census Bureau on Monday.
Kennedy Wilson Buys Anaheim Office Building for $56M
The company bought the 273,000-square-foot asset in Anaheim, Calif. for $56 million–a significant discount to the $71.1 million price the property fetched in 2005.
Brookfield Asset Managment Buys Suburban Dallas Campus from Citigroup
Citigroup, which occupies two of three buildings in the 620,000-square-foot campus in Irving, Texas, will remain under a sale-leaseback deal.
Economy Watch: Consumer Sentiment Dips; Wholesale Prices Barely Budge
The preliminary Reuters/University of Michigan consumer sentiment index for July slipped to 72–the lowest reading of 2012. The Producer Price Index for finished goods increased 0.1 percent last month after rising 1 percent in May.
Stonebridge Buys Seattle Hilton from R.C. Hedreen for $60M
By Alex Girda, Associate Editor In a deal valued at $60 million, Stonebridge Cos. has acquired the Seattle Hilton from R.C. Hedreen Co., the Puget Sound Business Journal reports. The 237-key property, which will continue to operate under the Hilton flag, is located at 1301 Sixth Avenue in Downtown Seattle. Englewood, Colo.-based Stonebridge, which operates […]