News
Hines Sells 461 KSF Colorado Corporate Center to Westfield Capital Partners
The four-building, 461,438-square-foot Mountain View Corporate Center will change hands, as Hines has sold the Class A office development to Westfield Capital Partners.
Economy Watch: Spain Asks for Help, Gets $125B for Banks; Multi-Family Market Shows Improvement
On Sunday, Spain became the largest of the euro-zone countries to request a bailout, and European finance ministers agreed that banks of the beleaguered nation could receive up to $125 billion in funds to keep them afloat. Domestically, the multi-family market saw some gains, indexing the highest construction rating since 2005.
North Scottsdale’s First Green Building Commands $79M
By Alex Girda, Associate Editor Canadian players are joining the ranks of institutional investors finding opportunities in metropolitan Phoenix. Artis Real Estate Investment Trust has acquired MAX at Kierland, a 258,912-square foot, Class A office building in North Scottsdale. The Winnipeg, Manitoba-based REIT paid $79 million for the six-story building, which it acquired from a joint […]
Investors Take Koreatown, Mid-Wilshire Apartment Complexes
By Alex Girda, Associate Editor Even if blockbuster investment sales are relatively rare in Los Angeles these days, a steady stream of small- and mid-size multi-family trades are picking up some of the slack. A pair of properties that recently changed hands in the Wilshire District and Koreatown offer two of the latest examples. Ardmore Court (pictured), […]
Kilroy’s $330M Buying Spree Expands Puget Sound Footprint
By Alex Girda, Associate Editor With $330 million in acquisitions closed or under contract, Kilroy Realty Corp. is cementing its status as a leading Puget Sound office owner. Last week the Los Angeles-based investement firm reported that it spent $145 million in two separate transactions to assemble a 417,000-square-foot campus in Seattle’s South Lake Union district, where Amazon’s development of a 3 million […]
Distress Symposium Report: Opportunities Knock, but Change Must Come
The Distressed Debt & Assets Symposium, produced by Deloitte in partnership with New York University’s Schack Institute of Real Estate, saw panelists discuss how the lending landscape can improve, but only with “a commitment to change.”
Grandbridge Originates $121M Financing on D.C.-Area Multi-Family Building
Grandbridge Real Estate Capital originated a $121.1 million first-mortgage loan for the acquisition of The Buchanan, a 442-unit multi-family high-rise in Arlington, Va.
Lincoln at Wolfchase Sold for $27.75M; Ike’s for $9.5M
By Eliza Theiss, Associate Editor The 408-unit Lincoln at Wolfchase Apartments in Cordova has been recently purchased for $27.75 million, or $66,789 per unit, reports the Memphis Business Journal. Irving, Texas-based investment management firm Archon Group LP, working under the name MLQ-ELD LLC, purchased the asset from Lincoln at Wolfchase Associates LLC. Located at 8230 […]
FEMA Funds New Orleans SPCA Facility with $8M
By Eliza Theiss, Associate Editor The Federal Emergency Management Agency (FEMA) has announced close to $8 million in consolidated funding to the Louisiana Society for the Prevention of Cruelty to Animals (SPCA) for a new animal control facility. The old Louisiana SPCA center was located at 1319 Japonica St. and sustained extensive damage during Katrina. […]
Suffolk Downs Announces $1 Billion Casino and Resort Plan
Reno, Nevada-based casino entertainment company Caesar’s Entertainment and the owners of Suffolk Downs, a famed thoroughbred race track in East Boston that opened in 1935, have unveiled a long-awaited plan for a $1 billion casino and resort that would boost the local economy and create 2,500 construction jobs and 4,000 permanent jobs.