Property Management
Jones Lang LaSalle Chosen by Howard Hughes Medical Institute as Facilities Manager for D.C.-Area Research Center
The Howard Hughes Medical Institute has selected Jones Lang LaSalle to provide facilities management at its 689-acre Janelia Farm Research Campus in Loudoun County, Va., about eight miles north of Dulles International Airport.
Transwestern Takes 230 KSF Management Contract from Seagis
The South Florida office of Transwestern has added 230,000 square feet of Miami-area industrial space to its responsibilities, courtesy of a new leasing assignment from Seagis Property Group L.P.
AREA Property Partners Takes 1,180-Unit Virginia Apartment Complex
AREA Property Partners, after targeting the Alexandria, Va., area late last year for apartment buys, is back in the area. The firm has purchased the city’s EOS 21, a 1,180-unit community, for an undisclosed price.
SL Green Closes Sale of NYC's 390 KSF 10 E. 53rd
SL Green continues its busy year with the $252.5 million purchase of the 390,000-square-foot office tower at 10 E. 53rd St. in Midtown Manhattan. The REIT followed the closing with the sale of a 45 percent interest in the Class A building to Canada Pension Plan Investment Board for $57.4 million.
EdR, Landmark Properties to Develop Student-Housing Community at Ole Miss
EdR and Landmark Properties have committed to joining forces on the development of a 668-bed student housing property near the University of Mississippi in Oxford. The project, which will sit in a residential neighborhood approximately one mile from campus, will cost $36 million to develop.
Sears' Store Sales, Rights Offering 'A Brilliant Move'
In the wake of the announcement that Sears would be selling 11 stores to General Growth Properties and spinning off two of its brands, industry sources called the actions “a brilliant move.”
OneRoof Energy Brings 100 New Green Jobs to San Diego; LaSalle Investment Management Expands Portfolio
By Gabriel Circiog, Associate Editor Mayor Jerry Sanders, CleanTECH San Diego and OneRoof Energy have announced the creation of over 100 new green jobs. OneRoof Energy is the first U.S. residential solar company working directly with roofers to sell and install its solar systems. Last year, the company received $50 million in financing to create […]
Silverstone, RWN Purchase Manhattan Multi-Family Building for $53M, Plan Repositioning
Silverstone Property Group and equity partner RWN Real Estate Partners have acquired a 109,000-square-foot, mixed-use residential tower in the Murray Hill submarket of Manhattan for $53 million.
Prism to Manage 12-Property Hotel Portfolio Across Three States
Prism Hotels & Resorts’ management responsibilities have just expanded by 1,877 guestrooms, now that the company has taken on an assignment from a New York-based REIT to oversee a group of 12 full-service hotels in Pennsylvania, Maryland and North Carolina.
American Realty Capital Trust Goes Public, Lists on NASDAQ
After spending a year considering strategic alternatives to maximize shareholder value, American Realty Capital Trust Inc., the flagship REIT of investment advisory firm American Realty Capital, has decided to take on the form of a self-administered REIT.