News
L.A.-Based Lee & Associates Opens NYC Doors, Merges with Sierra
L.A.-based Lee & Associates, in a merger with Sierra Realty, opened its first office in New York City and will be focused primarily on the retail sector but will look to make headway into office leasing.
Clearview, Oaktree Purchase 387-Room Renaissance Atlanta Airport Hotel
An investment group consisting of Clearview Hotel Capital and a real estate fund managed by Oaktree Capital Management L.P. has picked up the 387-room Renaissance Concourse Atlanta Airport Hotel.
Economy Watch: Greece Surprises the World Again
Greek Prime Minister George Papandreou proposed a referendum on banks’ debt deal with his country. The Fed began its official review of foreclosures caused by robo-signing and other inconsistencies. And construction spending increased slightly in September.
$500M Alexandria Center in Cambridge, Mass., Breaks Ground
Alexandria Real Estate Equities Inc. has just broken ground on the first phase of a $500 million, 1.7 million-square-foot science-and-technology compound in Cambridge, Mass., to be called Alexandria Center at Kendall Square.
Harrison Grabs 8 Seniors Properties for $125M
Harrison Real Estate Capital, on behalf of Harrison Street Real Estate Partners III L.P., has just completed an off-market transaction for an eight-property seniors-housing portfolio for approximately $125 million.
CBRE Closes on ING’s Europe Operations for $540M
In another piece of its acquisition of ING Group’s real estate management operations, CBRE has just closed on the European business — paying $540 million — after nabbing the Asia operations last month.
Economy Watch: Drunk on Risk, MF Global Falls on Face
It was something of a shock on Monday when MF Global Holdings went belly up. The OECD asserted that the euro-zone is going to grow slowly in the future. And the Chicago ISM saw 25 months of expansion amid a drop in the three-month moving average.
FDIC Regional Office Re-Ups in Midtown Atlanta
FDIC, the banking oversight agency, has re-upped for 102,619 square feet at Ten 10th Street, the building’s owner, Parkway Properties Inc., said Monday.
Lincoln Eyes Long-Term Upside in $76M Orange County Buy
Lincoln Property Co. has snapped up the Towers at Bella Terra, a 420,000-square-foot office and retail complex in Huntington Beach, Calif., in a $76 million cash transaction green-lighted by the state Superior Court.
Liberty Kicks Off 1.2 MSF Industrial Project in Lehigh Valley
The $62 million project will provide new big-box industrial space to a thirsty market and reclaim a brownfield site that was once home to the Bethlehem Steel Corp.