Regions
AREA Property Partners Acquires $215M Apartment Loan Portfolio
AREA Property Partners, in a joint venture with McDowell Properties, has acquired a portfolio of defaulted loans valued at $215 million, secured by 17 apartment properties encompassing an aggregate 4,733 residences.
GGP Refinances Staten Island, Boise Malls for $413M
Refinancing debt-laden properties has been a high priority for General Growth Properties since emerging from Chapter 11, and to that end, the company refinanced Staten Island Mall in New York and Boise Towne Square in Idaho for an aggregate $413 million.
Cassidy Turley Becomes a Big Player in Boston with FHO Partners Buy
With its purchase of Boston’s FHO Partners, Cassidy Turley has moved into the forefront of Boston real estate and is looking to take advantage of a market in recovery mode.
SPECIAL REPORT: Greenburger Reveals How Time Equities Prices Real Estate
New York City real estate may be susceptible to the effects of current global economic developments, but it is likely to continue to rank among the world’s top-performing investment markets long into the future, suggested Francis Greenburger, chairman & CEO of Time Equities Inc.
Meridan Negotiates $66M Senior Mortgage for Chicago Retail Center
Meridian Capital Group L.L.C. has arranged $66 million in financing for a 178,700-square-foot shopping center in Chicago owned by Baker Development Corp. The loan was supplied by an unnamed balance-sheet lender.
San Francisco’s 1155 Market St. Sold to Laurus Corp.
Laurus Corp. has just picked up a 140,000-square-foot office building in San Francisco’s Civic Center area, located at 1155 Market St., and featuring 11 floors of rentable space.
RiverOak Launches $300M Retail Fund
RiverOak Investment Corp. L.L.C. is setting its sights on urban retail primed for repositioning with the initiation of a new investment vehicle, RiverOak Urban Retail Investors Fund I, with the goal of securing commitments totaling $300 million.
Sabal Financial Acquires $158M CRE Loan Portfolio
Through the FDIC’s Small Investor Program, Sabal Financial Group has acquired a $158 million portfolio of performing and non-performing commercial real estate loans from FirsTier Bank of Louisville, Colo.
Empire State Building Turns (LEED) Gold
After receiving its Energy Star certification in July, the second consecutive year of the distinction, the Empire State Building was certified as LEED Gold earlier this week, making it the tallest building in the country to receive the certification.
TIAA-CREF Buys Boston’s 33 Arch St. from AREA Capital
The 33-story, Class A office tower at Boston’s 33 Arch St. in the Financial District just moved off the books of AREA Property Partners and its partner, Ivanhoé Cambridge, and into the rolls of TIAA-CREF.