Regions
Distressed Luxury Apartment Community in D.C. Changes Hands – Again – In $162.3M Deal
Senate Square, a three-year-old 432-unit apartment complex in Washington, D.C., has changed hands for the third time in less than a year, going from the developer’s hands to the lender, from the lender to Westbrook Partners, which, after shelling out $124.5 million for the property, has just sold it to LaSalle Investment Management for just over $162.3 million.
Carlyle Grabs 1.6M SF of Premier London Office Assets for $1B
The international private equity concern acquired six fully leased landmark office properties that had been part of the portfolio that secured the White Tower 2006-3 plc CMBS, which was placed in liquidation.
CWCapital Provides $151M FHA Construction Loan for D.C. Apartment Project
With a location at the intersection of 1st and M streets, N.E., in the nation’s capital, Englewood, Colo.-based Archstone’s 13-story Class A apartment tower will sit in the city’s NoMa district near Union Station and the U.S. Capitol. In addition to the residences, 1st & M will feature 2,500 square feet of ground-level retail space, a library, activity studios and a 16,000-square-foot courtyard.
Lewis Named Head of Hudson Realty’s Asset Management Department
Lewis will oversee strategy and execution on all Hudson’s debt and equity positions along with managing the firm’s asset management professionals and systems. She will remain a member of Hudson’s management committee, working to determine the company’s strategic direction.
Chesapeake Lodging to Buy 430-Room Boston Marriott Newton for $77.3M in Cash
Located approximately 15 miles west of Boston at 2345 Commonwealth Ave., the 41-year-old, seven-story Boston Marriott Newton occupies an 11.5-acre site fronting the Charles River. The property has undergone extensive renovations over the last two years and, in addition to its guestrooms, features 20,000 square feet of meeting space, a restaurant and a fitness center.
C&W: Manhattan Market Looking Better, Leasing Doubles Year over Year
Manhattan’s Class A vacancy rate dropped to 11.6 percent in June from 12.6 percent at the end of the first quarter, while the overall Midtown Manhattan vacancy rate declined to 11.5 from 12.6 percent. Those figures entail all sectors of real estate.
TD Taps Proctor as SVP, Commercial Real Estate Market Director
Proctor, who has 23 years of experience in banking, lending and finance throughout the metropolitan Philadelphia and New Jersey markets, will manage and expand the bank’s existing commercial real estate platform. That platform encompasses offices in Cherry Hill, N.J., King of Prussia, Penn., and Philadelphia.
Author Gladwell Speaks at Colliers International’s First Global Leadership Summit in Manhattan
Colliers International has undertaken recently a rebranding and investment campaign to combine its real estate experts worldwide and service lines under one banner. Under this model, local Colliers brokers continue to own real equity in the company.
Buchanan Puts Up $21M for First Mortgage on Luxury Apartment Complex in Northern California
Aqua Via is located near Jack London Square, a hallmark of Oakland currently undergoing a $375 million redevelopment. It is also located close to public transportation, including AC Transit buses and Amtrak trains.
Report: Doubletree Berkeley Marina in Default
According to the Contra Costa Times, the Doubletree was purchased in September 2006 by a joint venture of Westmont and Canada-based Cadim Inc., which paid $416 million to buy a real estate investment trust along with its 21-hotel portfolio, including the Doubletree.