News
Campus Living Villages Completes University of Delaware Student-Housing Refi
Campus Living Villages, a specialist in student housing, has completed the refinancing of Studio Green, a 704-unit, off-campus residential property near the University of Delaware, through C-III Capital Partners.
NY Fed Spends $208M on Downtown Office Building
The Federal Reserve Bank of New York is picking up a building in which it is the primary leaseholder, purchasing the property at 33 Maiden Lane in Downtown Manhattan for $207.5 million from Merit US Real Estate Fund III L.P.
Economy Watch: Home Values Continue to Fall
The latest home-value tracking index showed that prices dropped 1.1 percent in December in 20 U.S. cities, but consumer confidence saw a huge spike in the first month of the year. The FDIC reported that banks, in general, had a very good fourth quarter.
Plans For $500M Arena Hinge on Luring NBA and NHL Teams
By Alex Girda, Associate Editor
Seattle’s ambition to land major-league basketball and hockey franchises took a major step forward with the announcement of a $500 million plan to build an arena in the SoDo district. More than half the project’s financing–$290 million—would come from private funding secured by hedge fund manager Chris Hansen. Another $200 million […]
Park City Home Sales Top $1B Despite Declining Prices
By Alex Girda, Associate Editor Last year was a decidedly mixed bag of progress and challenges for the Park City residential market. First, the good news: overall transaction volume hit nearly $1.1 billion, a 6 percent increase from 2010, according to the Park City Board of Realtors. That is the only the seventh time that total […]
Regency Centers to Begin Development on 378 KSF Grocery-Anchored Retail in California
There is a gap in Class A shopping center offerings in a neighborhood in Petaluma, Calif., less than 40 miles outside of San Francisco, and Regency Centers is planning to help fill it. This week, the REIT kicks off construction of the 378,000-square-foot East Washington Place with an investment of $61 million.
SL Green Closes Sale of NYC's 390 KSF 10 E. 53rd
SL Green continues its busy year with the $252.5 million purchase of the 390,000-square-foot office tower at 10 E. 53rd St. in Midtown Manhattan. The REIT followed the closing with the sale of a 45 percent interest in the Class A building to Canada Pension Plan Investment Board for $57.4 million.
CBRE Lines Up $181M Financing for D.C. Office Project
CBRE Capital Markets has arranged $181 million in financing for the first two phases of Sentinel Square, an office development in Washington, D.C., that will eventually total 1.3 million square feet. CBRE arranged the funding on behalf of Trammell Crow, Crow Holdings Capital Partners and Cottonwood Partners.
Digital Realty Trust Adds 819 KSF of Data-Center Property for $123M
Continuing on its pattern of purchasing high-quality data centers, Digital Realty Trust has made the acquisition of the 819,000-square-foot Convergence Business Park in Lewisville, Texas, just outside of Dallas. The 168-acre complex, which is fully operational and features office space, was purchased for $123 million.
Economy Watch: Pending Home Sales Edge Up
The NAR’s Pending Home Sales Index was up two points in January. Warren Buffett called single-family homes “a very attractive asset class.” And the market for Italian debt began to abate after the sale of $16.5 billion worth of six-month notes.