News
Miami Beach Lincoln Center Sells for a Surprising $132M
The 127,000-square-foot Lincoln Center can pride itself with new owners, as VCP Lincoln Road—an affiliate of New York-based REIT Vornado—recently purchased the property for a reported $132 million.
Amsdell Acquires Five Self-Storage Centers; StyleCraft Signs 170K-Sq.-Ft. Lease
By Eliza Theiss, Associate Editor Cleveland-based Amsdell Storage Ventures VII LLC has purchased five self-storage centers in the Memphis metropolitan area for an undisclosed price. Two of the storage centers are located in Olive Branch, Miss. at 7097 Commerce Dr. and 7911 Hacks Cross Rd., while the other purchases are in Nesbit, Miss. at 2274 […]
Angelo, Gordon and Slavin Pay $43M for Multi-Family Asset
By Alex Girda, Associate Editor In a $42.5 million deal, Angelo, Gordon & Co. L.P. and its partner, Slavin Multifamily Advisors LLC, have acquired Villa Salerno Apartments in Northeast Phoenix from an affiliate of Colony Realty Partners, the Phoenix Business Journal reported. Constructed in 1996 by Mark-Taylor Development, the 412-unit Villa Salerno complex had been […]
Premier Miami Beach Retail Center Trades for $132M
A 167,000-square-foot retail property in Miami Beach, Fla., has sold for a cool $132 million just nine years after being acquired for $43 million by joint venture partners RFR Holding L.L.C. and Greenstreet Real Estate Partners L.P.
The Vue’s Woes Over?
By Eliza Theiss, Associate Editor It seems Charlotte’s ultimate luxury residential tower is at a crossroads. Real estate firm HFF LP announced it has closed the sale of a loan secured by The Vue—the 409-unit, 51-story Class A luxury residential tower located in Charlotte’s Fourth Ward. As previously reported, HFF began marketing The Vue’s $130 […]
Griffin-American Completes $106.7M Acquisition of Medical Office Portfolio
American Healthcare Investors and Griffin Capital Corp., co-sponsors of the Griffin-American Healthcare REIT II Inc., paid $106.7 million for 14 medical office buildings in nine states.
DreamWorks to Design Theme Park for $3.7B N.J. Meadowlands Project
The DreamWorks indoor theme park will be a major attraction for American Dream at Meadowlands, the 7.5 million-square-foot project that Triple Five is developing in East Rutherford, N.J.
Economy Watch: Weekly Unemployment Drops, Less Homes Under Water, Worries from Overseas
Last week’s initial unemployment claims dipped, falling 26,000 to 350,000 for the week ending July 7. Other positive news showed that the number of homes with negative equity decreased from 4Q11 to 1Q12. Still, worries persist overseas with slowed growth in China and Moody’s cutting Italy’s long-term bond rating.
BOMA Special Report: The GSA’s Focus on Sustainability
The General Services Administration likes to push the envelope on sustainability, Stephen Monkewicz, senior realty specialist with its office of real estate acquisitions, noted in his presentation at BOMA International’s Every Building conference in Seattle.
Hines Strikes Deal to Sell Houston’s 1.8 MSF Shell Plaza
Enterprise Products Co. is expected to close on the two-building trophy complex in Houston’s central business district later this summer.