News
Stiles Sells Bank of America Plaza at Las Olas in Ft. Lauderdale for $164M
Nine years after developing Bank of America Plaza at Las Olas City Centre in Fort Lauderdale, Fla., Stiles has sold the 410,000-square-foot trophy office building for $164 million to a real estate fund managed by J.P. Morgan.
DLA Piper Survey: 70 Percent Stay Bearish for the Upcoming Year
The results of DLA Piper’s fifth State of the Market Survey showed that 70 percent of the top executives within the real estate industry — CEOs, CFOs, COOs and other senior positions — are bearish overall on the economy.
Economy Watch: Construction Spending Up Unexpectedly
Construction spending experienced a surprise 1.4 percent uptick in August, according to the Census. Economic activity in the manufacturing sector expanded in September for the 26th month in a row, and worries about the Greek economy continue.
Historic Mill Site Gets Multi-Family Makeover in Melrose
By Veronica Grecu, Associate Editor
The transformation of an historic mill building into an apartment complex is under way in Melrose, Mass. Wood Partners is redeveloping the 129-year-old Boston Rubber Shoe Co. factory site into a 300-unit multi-family property.
As the Boston Globe […]
Opus Plans $100M High-Rise Apartments for Downtown Minneapolis
By Camelia Bulea, Associate Editor
Minneapolis could see its first new high-rise multifamily rental property nearly 30 years with the development of a $100 million downtown apartment tower planned by Opus Development Corp.
The Minnetonka-based developer recently unveiled plans to build a […]
Grosvenor Purchases The Campus at Sunrise for $63M
Grosvenor Americas just acquired The Campus at Sunrise in Reston, Va., for $63 million after purchasing it from BPG Properties Ltd.
Edens & Avant Purchases Fort Lauderdale’s 155 KSF Union Planters Plaza
Union Planters Plaza in Fort Lauderdale, Fla., comes under new ownership as Edens & Avant acquired the 155,000-square-foot grocery-anchored shopping center from Wharton Realty Group for an undisclosed price.
Invesco and Partners Buy $880M Bank of America Loan Portfolio
Bank of America has sold an $880 million portfolio of 29 real estate loans to three buyers: a consortium involving two subsidiaries of Invesco Ltd., Square Mile Capital Management L.L.C. and Canyon-Johnson Urban Funds.
Blackstone Purchases Shopping Center Portfolio for $473.1M
By Liviu Oltean, Associate Editor
Equity One Inc. agreed to sell 36 shopping centers to Blackstone Real Estate Partners VII for $473.1 million. The shopping centers encompass 3.9 million square feet and have mortgage loans that add up to a $177.4 […]
Stabile and Kass in Bidding War for Land Near Heinz Field
By Liviu Oltean, Associate Editor
Merrill Stabile, general partner in 501 Martindale Associates and president of Alco parking, recently bid for the right to develop land between PNC Park and Heinz Field. The land was reserved for Continental Real Estate Cos. […]