News
Avison Young Acquires L.A.-Based Ramsey-Shilling
Avison Young continues to increase its presence in the U.S. by opening new offices and snapping up firms, and now the Canadian firm has expanded its footprint with the acquisition of Ramsey-Shilling Commercial Real Estate Services Inc., a leading Los Angeles brokerage firm.
Heitman Co-Sponsors Behringer Harvard REIT, Acquires Minority Interest in 15 Properties
Behringer Harvard Multifamily REIT I Inc. has just entered into a new co-investment partnership with one of the world’s largest pension funds, advised by Heitman L.L.C., a multinational real estate investment management firm with more than $23 billion of assets.
JLL: 2012's CRE Outlook Still in Flux; Bright Spots Exist
Jones Lang LaSalle’s outlook for 2012 shows that, while the economy remains in a state of flux, things are generally set to improve. But there are going to be some very bright spots — such as the multi-family sector, which is going to remain the darling investment class.
Fountain Investments Buys 1.3M Acres of Nevada Land for $31M
In one of the largest land sales in U.S. history, Florida-based Fountain Investments has purchased 1.28 million acres of land and mineral rights in Nevada, giving it a parcel by acreage larger than the state of Rhode Island.
Economy Watch: EU Summit off to Rocky Start
With the world watching, members of the EU met in Brussels and immediately started quarreling. The Fed reported that U.S. household wealth dropped — again — during the third quarter of 2011. But new unemployment claims slowed from the previous week.
Excel Trust, Primestor Buys Point to Retail Recovery
By Alex Girda, Associate Editor
If December is “the Black Friday of real estate,” as RealEstate.com’s stated recently, the month has started strong in the Las Vegas market. A pair of retail centers changed hands as their buyers made their debuts […]
Macerich Nabs $230M Loan for Arrowhead Towne Center in Arizona
The Macerich has completed a substantial financing deal with Prudential Mortgage Capital, getting a $230 million loan secured by the 1.2 million-square-foot Arrowhead Towne Center in Glendale, Ariz.
GE Capital Launches $535M Investment in European Office Properties
Despite the European markets being as unsteady as — if not more unsteady than — domestic markets, GE Capital Real Estate is making a big bet on quality office assets in England, France and Germany with $535 million (400 million euro) secured from third-party sources.
Miami-Based Investment Firm Grabs 30-Story Chicago Multi-Family Tower
CH South Michigan Apartments, a vehicle of Miami-based Crescent Heights, purchased Chicago’s 1212 S. Michigan Ave., picking up the 30-story, 344-unit tower for approximately $60 million.
Brookfield Buys Prudential's Real Estate and Relocation Services Unit
Prudential Financial has sold its real estate and relocation services business to Brookfield Residential Property Services for approximately $110 million, subject to an adjustment based on the closing-date net book value.