West
Harrah’s Steps in as New Owner of Planet Hollywood Las Vegas
Planet Hollywood Resort & Casino has come under new ownership now that a subsidiary of Harrah’s Entertainment Inc. has taken over the reins. PHW Las Vegas L.L.C. received approval from the Nevada Gaming Commission to officially own and manage the prominently located Las Vegas Strip property, taking it–and its remaining debt of $554 million–off the hands of previous owners BH/RE L.L.C.
Hoffman Land Index: Land Values on Rise in Southern California
Southern California real estate players may be encouraged by news from the land brokerage The Hoffman Company, whose third annual Hoffman Land Index reveals that land values in many areas have doubled or tripled in 2009 as compared to 2008.
Marcus & Millichap Lists Southern California Mobile Home Park for $44.5M
A tumultuous relationship between the city of Poway, Calif., and the mobile home park it owns may come to an end should the park sell – particularly if it sells to its residents.
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.
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.
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.
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.
Behringer Harvard REIT Makes Another Big M-F Splash in California
Behringer Harvard Multifamily REIT I recently made what was then 2009’s largest California multi-family acquisition with an $80 million purchase of Waterford Place Apartment Homes near the Bay Area. This week, the REIT topped that with the $96 million purchase of another property—this time in Los Angeles.
Ingham to Lead Orange County Office for JLL
Jones Lang LaSalle has named Jeffrey Ingham to head up its Orange County, Calif., office.
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