Regions
Essex’s $121M Buy of M-F Portfolio Shows San Diego’s Solid Economy
Essex Property Trust has purchased a 379-unit luxury apartment community in San Diego for $121 million from Wood Partners in an all-cash transaction, as more than 15,000 jobs reportedly are within two miles of the community’s location.
Shanghai Zendai to Develop $8B Financial Hub in South Africa
Hong Kong-based developer Shanghai Zendai Property Ltd. is investing $7.8 billion in the development of a mixed-use project in Johannesburg over the next 15 years.
Hines Buys 953 KSF Logistics Facility in Growing German Market
International real estate company Hines has completed one of the largest logistics transactions to take place in central Europe by acquiring the Fiege Mega Centre is a single-tenant e-commerce logistics property located in Erfurt, Germany.
Jay Paul Breaks Ground on San Francisco’s 181 Fremont Tower
Jay Paul Co. broke ground on 181 Fremont St., a 54-story, 684,000-square-foot residential and office tower near the Transbay Transit Center in San Francisco’s South of Market district.
Hillwood, Sovereign Wealth Fund Wrap First Closing of $1B Industrial Venture
The partners expect to ultimately raise an aggregate $400 million, which they intend to leverage for $1 billion in acquisitions and development over the next three to four years.
G&L Realty Gets $264M Refi for Southern Calif. Medical Portfolios
US Bank provided Beverly Hills-based G&L with $176.5 million in financing for five medical office and retail properties in the Golden Triangle district of Beverly Hills, plus a $63.5 million loan for a portfolio of three medical office buildings in other major Southern California submarkets.
Law Firm Renews Lease of 150 KSF Silicon Valley Office Building
Fenwick & West is staying put in its Silicon Valley digs at 400 Castro St. in Mountain View, Calif., for the long term. The law firm recently renewed its lease of every single square foot of office space at the 150,000-square-foot property with owner Tishman Speyer, making its downtown address permanent for the next 15 years.
SL Green Acquires Interest in Manhattan’s Embattled 650 Fifth Ave.
A joint venture between SL Green Realty and Jeff Sutton has acquired a 49-year leasehold interest covering the retail portion of 650 Fifth Ave., an office tower with decades-long ties to the Iranian government and now in legal limbo as a result.
$60M M-F Project Green-Lighted for Raleigh’s Apartment Hungry Gen-Y
SkyHouse Raleigh, a 320-unit luxury high-rise, will soon sprout up downtown now that Novare Group, Batson-Cook Development Co. and Edison Land have issued a notice to proceed for the $60 million project.
Oxley Buys 40-Acre M-U Site in London
Singapore-listed property developer Oxley Holdings Ltd. has acquired Royal Wharf, the largest mixed-use site in London since Battersea Power Station.