News
Washington Office Building Commands $137M in Sale to Joint Venture
Carr Properties, the Canada Pension Plan Investment Board and MetLife bought the 341,433-square-foot asset from Tishman Speyer.
CPE TV: Ed Indvik: Making the Most of Today’s Markets
Edward Indvik, vice chairman at Lee & Associates, stopped by CPE in January to talk about finding opportunities in today’s market and what is in store for Lee & Associates.
Boston Properties Buys Bay Colony Corporate Center
The million-square-foot premier office park joins the firm’s stellar portfolio with the completion of the REIT’s $185 million acquisition of the suburban Boston asset. Talk about a steal of a deal; the asset traded in 2007 for $366 million.
Economy Watch: Investors Gung-Ho for Apartments
Real Capital Analytics reported in its year-in-review of the U.S. apartment market that a gold-rush mentality hit last year as investors eagerly sought and bought properties. All together, apartment property investment sales mushroomed 96 percent in 2010 compared with 2009. Buyers acquired some $33.7 billion worth of apartments last year, with about $12.6 billion of that total in the fourth quarter of 2010 alone–and with nearly half of the fourth-quarter total, $6.1 billion, occurring in December.
Hurricane-Resistant Seniors Housing Debuts
Part of Enterprise Community Partners Inc.’s initiative to invest $200 million with partners to rebuild communities along the Gulf Coast, Oak Haven has hurricane-resistant construction and the latest in weatherization technology, including concrete-filled insulated form wall systems built to withstand up to 130 mile-per-hour winds. It features a community center and an array of off-site services.
Cole Real Estate Snaps Up 13 CVS Drugstores
Purchased for $71 million, the properties are brand new and occupied under single-tenant, triple-net-leased agreements.
Check Out CPE’s Digital Edition
The February issue of CPE’s magazine is here, featuring interviews with Michael Colacino and Shekar Narasimhan, as well as special mortgage banking coverage and other news and information you need to keep current.
ProLogis, AMB Merger Official
The two industrial powerhouses have agreed to join forces in a merger that is expected to have a pro forma equity market capitalization of $14 billion, a total market capitalization in excess of $24 billion and gross assets owned and managed of $46 billion. The transaction is slated to close in the second quarter of this year.
Economy Watch: Consumers Spending Again
U.S. consumers have been itching to spend, and in December they seemed to be out scratching that itch. According to the U.S. Department of Commerce, spending among consumers rose a seasonally adjusted 0.7 percent during the last month of 2010. That compares with an increase in November of 0.3 percent.
J.H. Snyder Partners with Washington Capital
The Vermont is a $150 million transit-oriented apartment project that will sprout up in the densely populated Mid-Wilshire district of Los Angeles.