News
Vestar to Manage Buena Park Downtown Retail Complex in California
Vestar is taking on a new 1.1 million-square-foot responsibility, now that it has won the third-party contract to spearhead management of Buena Park Downtown, a retail complex in Buena Park, Calif.
Economy Watch: Fed Pulls in Tidy Sum, Hands it to U.S. Government
The Federal Reserve gave the U.S. Treasury $76.9 billion in profits in 2011. The National Federation of Independent Business’ optimism index rose in December. And Fitch said that the real problem for Europe isn’t Greece, but Italy.
Colliers: Outside Factors Force Manhattan Office Pause
Describing the larger real estate picture around the United States as “tenuous,” a new report by Colliers International says the supply-and-demand balance of the Manhattan office market will remain virtually unchanged in the first few months of 2012 due to the combined impact of the larger worldwide economic situation.
Vornado, HFZ Buy Upper East Side Apartment Building for $170M
A joint venture of Vornado Capital Partners and HFZ Capital Group has purchased 11 E. 68th St. in New York City for $170 million plus closing costs and adjustments.
Economy Watch: Employment Trend Index Up, Home Prices Down
Six of eight components of the Employment Trend Index showed positive growth in December. Total U.S. consumer borrowing rose $20.4 billion in November alone. And amid new fears of Greek insolvency, investors are pouring money into Germany.
Nike Plans 600 KSF Move to Tishman’s New Shanghai Campus
Following increased demand for its products in China, Nike has just announced plans to build a 600,000-square-foot corporate campus in Shanghai that will be located in Tishman Speyer’s $2.5 billion The Springs development.
General Services Administration Signs 254 KSF Lease in D.C.
The U.S. Small Business Association is staying put in its digs at the 420,100-square-foot Washington Office Center in Washington, D.C., as the U.S. General Services Administration just entered into a new lease renewal agreement with Vornado/Charles E. Smith for the SBA’s approximately 254,300-square-foot headquarters at the office property.
Investors Purchase Plaza of Americas, Midtown Park
By Camelia Bulea, Associate Editor
The end of 2011 saw two important commercial transactions for the Dallas-Fort Worth area: the sales of Plaza of the Americas and the Midtown Park project.
Possibly the largest trade in the downtown area in 2011, Invesco […]
Oak Grove Capital Originates $45M Fannie Mae Loan for Florida Apartments
Oak Grove Capital’s financing origination spree for apartment properties continues as the mortgage lender completes a $45M Fannie Mae affordable loan for The Waves, a 488-unit rental community in Plantation, Fla.
Partnership Buys Circle at Crosstown in $64.5M Deal
The 300-unit Circle at Crosstown has recently traded hands, part of a $64.5 million portfolio that also included the 336-unit Circle at Bartram Park in Jacksonville.