West
Maguire Recapitalizes LA Office Campus with $105M Loan
Maguire Investments has recapitalized Water’s Edge, its two-building, 6.5-acre “creative office campus” in LA’s Playa Vista submarket, with a $105 million loan.
Ivanhoé, TPG, DivcoWest JV Acquires Sizable Silicon Valley Portfolio
M West Properties, a partnership of Ivanhoé Cambridge and affiliates of TPG Real Estate and DivcoWest, has closed its $400 million-plus purchase of 73 buildings in California’s Silicon Valley.
Trigild, Blu Hotel JV Buys 121-Room Santa Ana Hampton Inn & Suites
Just five months after forming a strategic alliance to build, buy and operate hotel properties, Trigild and Blu Hotel Investors have made their first acquisition, the Santa Ana Hampton Inn & Suites in Santa Ana.
Sale of US Bank Tower Marks Shift in Downtown LA Market
The newly announced purchase of US Bank Tower, the tallest building in California, is not only a major transaction in itself, at $367.5 million, but also a deal that could send some reverberations through the downtown Los Angeles office market.
Essex Buys Fox Plaza in SF for $135M
Last year, Essex Property Trust made more than $800 million in M-F acquisitions in California and the Seattle area. The REIT is continuing its spending this year, picking up Fox Plaza, a 444-unit property in San Francisco’s Mid-Market district, for $135 million from Archstone.
CBRE Gets $1B in Financing for M-F Greystar, Goldman Portfolio Buy
How do you get your hands on a billion dollars? Greystar Real Estate Partners and Goldman, Sachs & Co. kicked off 2013 with the announcement of plans to snap up an 8,010-unit multi-family portfolio from Equity Residential for $1.5 billion, and now news emerges that CBRE Capital Markets’ Debt & Equity Finance group has helped the joint venture partners cull more than $1 billion to finance the acquisition.
NVIDIA to Develop $300M, 500 KSF HQ in Silicon Valley
As it celebrates its 20th birthday this month, chipmaker Nvidia announced plans to construct a 500,000-square-foot building on a 24-acre site in Santa Clara, Calif., the first part of an eventual 1 million-square-foot headquarters.
Westin to Enter Sacramento Market with Reflagging of 100-Room Hotel
Starwood Hotels & Resorts Worldwide, parent company of Westin Hotels & Resorts, has decided that the Westin flag will fly in Sacramento for the first time, through the rebranding of the 100-room Le Rivage Hotel.
Tishman Lands Two More Leases at Wilshire Courtyard
Less than two months after buying the two-building Wilshire Courtyard office complex in West Los Angeles, Tishman Speyer has completed two lease transactions, bringing the property’s occupancy to 94 percent.
GAF Acquires 535 KSF Manufacturing Facility in Cedar City, Utah
GAF, the nation’s largest producer of roofing materials, has bought a 534,598-square-foot manufacturing facility on 78 acres in Cedar City, Utah, from CC Utah Enterprises.