News
Zuckerman Proposes Conversion of Harrison Flats for Hotel Use; Virginia Properties Trade Hands
By Veronica Grecu, Associate Editor
Zuckerman Brothers Inc. has a new restoration and reuse plan for Harrison Flats, the District’s oldest conventional apartment building. According to DCmud, the 123-year-old property was purchased by Zuckerman Brothers in June 2010 for $8.5 million. […]
AREA Buys Way into Downtown; Foundry Square Price Breaks Records
By Alex Girda, Associate Editor
AREA Property Partners has recently made its mark on the San Francisco multifamily scene by acquiring a 422-unit portfolio. The portfolio, comprising units in 20 buildings, was previously owned by the Lembi family. The seller, although […]
Behringer Harvard Buys 132-Unit Luxury Apartment Property Near San Francisco
Acting through a joint venture involving Behringer Harvard Multifamily REIT I Inc. and PGGM Private Real Estate Fund, Behringer Harvard has purchased the Renaissance, a luxury apartment community in Concord, Calif.
Saul Takes Three Grocery-Anchored Shopping Centers for $168.5M
Saul Centers Inc. has increased its footprint in the metropolitan Washington, D.C./Baltimore area by 635,000 square feet with the purchase of three shopping centers for $168.5 million.
Breaking News: Blackstone Purchases 36 Shopping Malls for $473M from Equity One
In a deal expected to close in the fourth quarter of this year, Blackstone Real Estate Partners VII has purchased 36 shopping centers from Equity One, Inc., for $473.1 million, including $177.4 million in mortgage debt.
Philly’s 1700 Market St. Sells for $143.5M
In a $143.5 million deal, the Class A office building at Philadelphia’s 1700 Market St. was purchased by a partnership formed by David Werner, a private real estate investor.
Economy Watch: New Home Sales Cruise Along Bottom, Wall Street Protest Sees Arrests
According to the Census Bureau, new-home sales dropped 2.3 percent from July to August. The Chicago Fed’s National Activity Index dropped to – 0.43 in August from + 0.02 in July. And the Occupy Wall Street protests saw arrests over the weekend.
MG Properties Grabs Seattle’s Park at Northgate Apartments for $22.3M
Investor interest in the Seattle apartment market continues to grow — MG Properties Group has just purchased the 146-unit Park at Northgate from Triad Villa Roma L.L.C. for $22.3 million.
Essex Spends $165.1M for Two Seattle Apartment Properties
Essex Property Trust Inc. has expanded its presence by nearly 1,000 residences in metropolitan Seattle with the purchases of Redmond Hill and The Bernard for an aggregate $165.1 million.
Breaking: Ranieri Acquires Deutsche Bank Berkshire Mortgage and its $28B Portfolio
Ranieri Real Estate Partners, in conjunction with private-equity funds affiliated with WL Ross & Co. L.L.C., has just announced its acquisition of Deutsche Bank Berkshire Mortgage, a subsidiary of Deutsche Bank.