Regions
NHP Acquires Southern California Medical Office Building for $74M
Nationwide Health Properties Inc. (NHP) has recouped a mortgage loan on the Pomerado Outpatient Pavilion in Poway, Calif., with the acquisition of the property from Pacific Medical Buildings L.L.C (PacMed) in a transaction valued at $74 million.
Economy Watch: Bailout for Greece
It may not be pleasant to contemplate the bailout of an entire nation–Greece, of course–but at least the U.S. Treasury isn’t expected to foot the bill on this one. Rather, “Europe” is going to take on the job, which is to say Germany, with other euro-zone nations along for the ride.
Penn National’s $400M Columbus Casino Moves Forward with Land Purchase
Given the lackluster state of the gaming market, most developers with access to hundreds of millions aren’t making a beeline to build casinos, but there are always exceptions such as Penn National Gaming. The Wyomissing, Pa.-based gaming facility owner and operator just made a major move toward the realization of its $400 million Hollywood Casino in Columbus, Ohio, with the acquisition of a 123-acre brownfield site on the city’s west side.
Power Supply Problem Shuts Dubai Tower
A month after the At the Top observation deck opened at the world’s tallest man-made tower, a malfunction at the deck has shut the tower to the public.
Calpine to Build First U.S. Power Plant with Emissions Limits
The power company Calpine said Thursday that it has gotten the go-ahead to build the country’s first plant with a federal limit on greenhouse gas emissions.
Economy Watch: CBRE Profits From Asian Rebound
Los Angeles-based CB Richard Ellis Group Inc. has reported net income of $64.3 million, or 21 cents a share, for 4Q09. That compares quite favorably with the same quarter in 2008, when the multinational brokerage lost $1.1 billion, or $4.70 a share.
Voters Reject Alameda Point Development Project
Voters in the San Francisco Bay Area city of Alameda have soundly voted down Measure B, which would have provided for development on Alameda Point, a former Naval air station.
JLL: Shadow Space Dogs Boston
Shadow space will continue to dog the Boston market even as the overall economy improves, according to Jones Lang LaSalle.
SF’s Transbay Terminal to Benefit from Influx of Funds
Two different streams of funds will provide for reconstruction of San Francisco’s Transbay Terminal: $400M in stimulus cash and a $171M loan from the Transportation Infrastructure Finance and Innovation Act.
$135M Financing Secured for 1MSF Yonkers Shopping Center
It’s almost like the good old days of 2007 when loans over $100 million for commercial real estate practically rained from the sky. Undeniably, those times have not returned, but news that Brooks Shopping Center L.L.C., owner of the 1 million square-foot Cross County Shopping Center in Yonkers, N.Y., has gotten its hands on a $135 million first mortgage to finance the property’s redevelopment certainly brings back good memories.