News
City Council Green Lights Restarted Crabtree Village Master Plan Project
by Adriana Pop, Associate Editor The City Council of Raleigh unanimously approved a master plan for a proposed mixed-use project located on a 24-acre portion of the Kidd’s Hill property behind Crabtree Valley Mall. Wells Fargo Bank and developer Pappas Properties of Charlotte are planning to restart the stalled Crabtree Village master plan by proposing […]
Clarion, Kettler Team on $154M High-Rise Apartment Project in Tight Suburban Washington Market
Scheduled to start construction this summer, the 411-unit high-rise will complete Metropolitan Park, a trio of upscale multi-family rental properties developed by Clarion and Kettler in Virginia’s Pentagon City submarket.
ERT to Acquire Biomedical Company Invivodata
by Adriana Pop, Associate Editor Global technology company ERT purchased Pittsburgh-based biomedical company Invivodata, Inc. for an undisclosed amount. The acquisition positions ERT as a leader in Clinical Outcome Assessments. The transaction was facilitated by San Francisco-based private equity group, Genstar Capital LLC, which recently announced it has completed the acquisition of ERT. In June, […]
Golden State’s Optimism Yields Development Plans: Allen Matkins/UCLA Report
Optimism about the CRE sector in California has been strong enough, for long enough, that new development is expected to pick up this year, especially in the industrial sector. The outlook is also brightening for office and multi-family, the latter of which was included in the semiannual report for the first time.
St. Francis Prepares to Sell Former Hawaii Medical Center West
by Adriana Pop, Associate Editor St. Francis Healthcare System of Hawaii expects to sell Hawaii Medical Center West to Queen’s Health Systems. “Preparing the West Oahu hospital for sale is one of our top priorities in the next few months,” St. Francis President and CEO Jerry Correa told the Pacific Business News. In May, Queen’s Health Systems, […]
Economy Watch: No Clarity from Fed on QE3; U.S. Exports Rise
The Fed’s Open Market Committee offered few hints about whether it was prepared to prime the pump; U.S. exports rose from April to May, according to the Census Bureau. Investigations over LIBOR manipulation pick up steam.
Brookfield Puts 333 Bush Up for Sale; USPS Markets 8 Assets
By Alex Girda, Associate Editor A second tech boom is ratcheting up demand for office space in the San Francisco Bay Area .This has prompted a number of owners to buy or unload assets, among them Brookfield Asset Management, the global alternative asset manager that manages a $150 billion portfolio. Brookfield is hoping to ride the wave to a big payday […]
World’s First Nobu Hotel Targets Boutique Market
By Alex Girda, Associate Editor A new hotel bearing the name of renowned chef Nobu Matsuhisa is gearing up for a fall opening at Caesars Palace. The world’s first Nobu Hotel will arrive at a time when the city is looking toward niche boutique hotels to attract a new demographic to Las Vegas. According to […]
Update: CBRE Global Investors Plans Upgrade of Newly Purchased 400 S. Hope
Trophy office assets in downtown Los Angeles are not easy to come by, but CBRE Global Investors has just gotten its hands on a big one, the 701,500-square-foot tower at 400 S. Hope St. And it has big plans to improve the asset’s double-digit vacancy rate.
Hines/Oaktree JV Buys 248 KSF Office Complex in Sandy
By Alex Girda, Associate Editor KBS Realty Advisors has closed on the sale of South Towne Corporate Center in Sandy to a joint venture of Hines and an affiliate of Oaktree Capital Management. The deal is Hines/Oaktree’s second acquisition following last year’s pickup of Alton Corporate Plaza in Irvine, Calif. Located 15 miles from Downtown Salt […]