News
KBS Legacy Partners Acquires 255-Unit Multi-Family Property Outside Baltimore for $65M
KBS Legacy Partners Apartment REIT has just completed the purchase of the 255-unit The Residence at Waterstone in Pikesville, Md., taking it off the hands of Avalon Village Green Associates for $64.7 million.
Charlotte Douglas International Airport, Sixth-Busiest in the World, to Expand
By Eliza Theiss, Associate Editor Charlotte Douglas International Airport is the sixth-busiest airport in the world in terms of take-offs and landings, this according to data released by the Airports Council International. The almost 540,000 takeoffs and landings handled in 2011 lifted the airport from the eleventh position it held in 2006. It also experienced […]
Pru Nets $568M in Capital for Seniors-Housing Fund
Prudential Real Estate Investors is set to make a big impression in the seniors-housing sector, having raised $568 million for its newest and largest seniors-housing fund.
Clarion Partners Nabs $60M Loan for California Office Complex
Clarion Partners, owner of the 338,700-square-foot Plaza at Walnut Creek office complex in suburban San Francisco, just obtained a $60 million permanent loan for the two-building property.
Economy Watch: Foreclosures Drop Temporarily
First-quarter foreclosure filings dropped 16 percent from this time last year, but the good news may not last. State tax revenues grew by nearly 9 percent on average for the year. And while weekly jobless claims rose, things are much better than in 2011.
Action Housing Develops Western Pennsylvania’s First Passive House
by Adriana Pop, Associate Editor
Action Housing Inc. is developing the first Passive House in western Pennsylvania.
Passive Houses are extremely energy efficient buildings that save space heating costs while preserving high indoor air quality.
The 1,800-square-foot home will be developed according to Passive House standards, a German system of constructing airtight buildings that need little or no […]
Blackstone Pays $70M for Majority Stake in Parc 55
By Alex Girda, Associate Editor
Parc 55 is the latest Bay Area hotel to attract institutional investors to one of the nation’s top hospitality markets. Last month, the Blackstone Group L.P. paid about $70 million for a 75 percent stake in the 1,011-key property located in Downtown San Francisco, Bloomberg News reported. Blackstone also obtained $152 million […]
Connor Group Pays $26M for 5th Acquisition in N.C. Market
by Adriana Pop, Associate Editor
The Connor Group purchased Autumn Woods Apartments, a 236-unit luxury community located in Carrboro, for $26.25 million. The Ohio-based real estate investment firm bought the property from Fairfield Autumn Woods LLC of San Diego.
The community sits on 14 acres and was built in 1997. The Triangle Business Journal reported that Fairfield […]
DSI Buys 54 Dialysis Clinics from Fresenius
by Adriana Pop, Associate Editor DSI Renal announced that it has acquired 54 dialysis clinics from Fresenius Medical Care AG & Co. KGaA. Nine of the clinics are located on Oahu. The transaction triples DSI’s national footprint to 85 clinics in 23 states. Following the transaction, DSI and it will become the fourth largest for-profit provider of outpatient dialysis services […]
Manhattan Multi-Family Sees Price Increases
According to Brown Harris Stevens’ first-quarter 2012 Manhattan Residential Market Report, the average Manhattan apartment sale price was about $1.9 million, up 9 percent from the same period in 2011.