News
Distressed Debt & Asset Update: From Condo to Multi-Family Rental
Financing remains a major hurdle for the condominium real estate market, so many developers have shifted some use to rental. By Steven Bandolik and Brian McMearty.
Gotham’s Full-City-Block, Four Building, $520M Groundbreaking in NYC
In one of the largest developments in New York City outside of the World Trade Center site, the Gotham Organization has begun construction on a $520 million residential project that will include more than 1,200 units and a school.
CoreNet Global: For Corporate Real Estate, the Future is Now
For the 1,800 professionals attending the CoreNet Global fall summit in Atlanta this week, the office of the 21st century is an ever-pressing concern and attendees examined the complex links between technology, generational preferences and the effective use of office space.
HFF Arranges $125M Financing for L.A. Office Portfolio
In the slowly expanding Los Angeles office market, Holliday Fenoglio Fowler has arranged a $124.9 million refi package for four office properties that total 543,162 square feet in Burbank and L.A.
Western National, Nor’Wood JV to Build 3 Colorado Multi-Family Projects
Counting on the strength of the Colorado Springs apartment market, a new joint venture of Western National Realty and Nor’Wood Development has announced plans to build three projects in the area beginning early next year.
Economy Watch: Census Bureau Offers New Definition of Poverty
The Census released a “supplemental poverty measure” to complement, but not replace, the official one. Non-revolving consumer credit rose in September. And the Italian debt time-bomb began ticking more loudly.
Nature’s Fuel Considers $470M Facility in Northern Kentucky
By Adrian Maties, Associate Editor
Nature’s Fuel Gallatin L.L.C. will build a $470 million biomass facility in Northern Kentucky. The Indiana-based company received preliminary approval for as much as $35 million in tax incentives from the Kentucky Economic Development Finance Authority. […]
Vornado Makes Sales to “Focus on Core”
Vornado has entered into a $228 million deal to sell the 1.2 million-square-foot 350 West Mart Center office building in Chicago and signed a separate agreement to fork over ownership of four mixed-use retail assets in Manhattan for $78 million.
Gold Krown Financial Purchases 538-Unit Block of Miami Condos, Apartments
Gold Krown Financial has picked up 538 condominium and apartment units at the mixed-use Midtown Miami development in Miami’s Uptown Wynwood District from HSBC Bank.
Luxury Suburban Dallas Multi-Family Trades after Heated Contest
The Venue, a 285-residence luxury apartment community in Richardson, Texas, has come under new ownership, courtesy of a transaction orchestrated by Institutional Property Advisors.