Regions
Cushman: Global CRE Investment Rose 14 Percent in 2011
According to services firm Cushman & Wakefield Inc., global property markets saw a stronger-than-expected end to 2011, with all regions experiencing robust demand for well-let assets. Activity worldwide increased by 14 percent, hitting the $808 billion mark — an increase of 83 percent from the lows of 2009.
Campus Living Villages Completes University of Delaware Student-Housing Refi
Campus Living Villages, a specialist in student housing, has completed the refinancing of Studio Green, a 704-unit, off-campus residential property near the University of Delaware, through C-III Capital Partners.
NY Fed Spends $208M on Downtown Office Building
The Federal Reserve Bank of New York is picking up a building in which it is the primary leaseholder, purchasing the property at 33 Maiden Lane in Downtown Manhattan for $207.5 million from Merit US Real Estate Fund III L.P.
Regency Centers to Begin Development on 378 KSF Grocery-Anchored Retail in California
There is a gap in Class A shopping center offerings in a neighborhood in Petaluma, Calif., less than 40 miles outside of San Francisco, and Regency Centers is planning to help fill it. This week, the REIT kicks off construction of the 378,000-square-foot East Washington Place with an investment of $61 million.
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.
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.”
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.
Archstone Purchases Seattle, Silicon Valley Apartment Communities for $115M
Taking a 131-unit apartment complex off the hands of an affiliate of Continential Properties L.L.C., Archstone has added another Seattle-area multi-family property to its roster for $47.5 million. Additionally, the firm purchased a Silicon Valley apartment complex for $63 million.
Demmon Partners Sells California Multi-Family Community for $48M
FPA Multifamily has picked up Meridian at Stanford Ranch, a 452-unit multi-family community in Rocklin, Calif., for $48.3 million from Demmon Partners. Institutional Property Advisors, a multi-family brokerage division of Marcus & Millichap, represented both buyer and seller.
Stonehenge Acquires Mixed-Use NYC Asset for $33.8M
Stonehenge has picked up the building at 364 W. 18th St. in Manhattan from Fortuna Realty Group for $33.8 million.