News
Younan Continues to Trim Leverage with Sale of Houston Asset
Prior to selling 1700 West Loop South in Houston, Younan Properties Inc. had sold $400 million worth of properties and reduced its leverage by 30 percent over the past year.
U.S. Remains Most Transparent Market as Openness Advances Globally: Jones Lang LaSalle
Nearly 90 percent of the world’s markets have improved transparency since the last survey in 2010. This year Jones Lang LaSalle is also introducing a new index for transparency in sustainability.
Economy Watch: Home Prices Rise, but Consumer Confidence Slips
The latest S&P/Case-Shiller Home Price Indices showed that home prices increased 1.3 percent in April for both the 10- and 20-City Composites; the Consumer Confidence Index slipped for the second month in a row.
Samaritan Closes on $147M Tax-Exempt Bond to Finance Seniors Community
by Adriana Pop, Associate Editor Nonprofit Samaritan Housing Foundation Inc. will be obtaining $147 million in tax-exempt resource bond financing to fund the construction of SearStone Senior Citizens Community in Cary. According to CityBizList Atlanta, law firms Krevolin & Horst and Peck, Shaffer and Williams LLP arranged to secure the bonds issued by the Public Finance Authority. Bond […]
Buncher’s $400M Mixed-Use Project in Strip District Passes First Test
by Adriana Pop, Associate Editor The Pittsburgh City Planning Commission has approved the establishment of a special planning district for Buncher Co.’s estimated $400 million, 37-acre mixed-use development in the Strip District. The project, called Riverfront Landing, will also need to go before the City Council for approval. Under the plan, Buncher is proposing at […]
Construction of $350M West Oahu Shopping Center Postponed
by Adriana Pop, Associate Editor DeBartolo Development LLC announced that construction on the first phase of its $350 million Ka Makana Ali’i regional shopping center in East Kapolei has been delayed until early next year. The initial part of the project calls for the development of a neighborhood center that will feature a grocery and […]
NAREE Special Report: Multi-Family’s New Trajectory
With vacancy rates significantly improved over the past couple of years, landlords can work to make that rent recovery happen. The national average vacancy rate in the first quarter was 5.1 percent, noted Mark Obrinsky, chief economist for the National Multi Housing Council.
In $770M Deal, DEXUS Sells 16.7 MSF Industrial Portfolio to Blackstone
Affiliates of Blackstone Real Estate Partners VII picked up the 68 assets in what is being touted as the largest industrial portfolio transaction in the U.S. so far this year.
Brandywine-Allstate JV Takes Suburban D.C. Portfolio for $120.6M
The joint venture will acquire the three-building asset in Silver Spring, Md., from Urdang’s Value-Added Fund II and Moore & Associates.
Prudential Mortgage Capital Closes its First CRE Loan in U.K.
Prudential is targeting at least $500 million of long-term, fixed-rate senior debt transactions in Europe, initially focusing on office, logistics, multi-family and retail properties in and around large population centers such as London, Paris and major German cities.