General News
$201Mln Student Housing Portfolio on Sales Block
FortGroup is offering for sale a five-property, 4,477-bed student housing portfolio for $201 million.The St. Augustine, Fla., student housing developer has tapped Marcus & Millichap to market the properties, which are located in Gainesville, Fla., Athens, Ga., Columbia, Mo., and...
Acadia Realty Raising $500Mln Opportunity Fund
Acadia Realty Trust is well on its way to raising $500 million of equity for its third investment vehicle. The White Plains, N.Y., REIT, which pursues properties with substantial retail components that it can add value to, will contribute $100...
Westbrook Takes Stake in Washington Offices
Westbrook Partners has taken an equity position in a portfolio of four Washington, D.C., office buildings with nearly 390,000 square feet in a recapitalization valued at $100 million.The investment manager becomes a venture partner in the properties with ICG Properties,...
American Assets is Buyer of Fireman’s Fund HQ
American Assets Inc. has completed the $312 million purchase of the Fireman's Fund headquarters, a 710,330-square-foot complex in Novato, Calif.The San Diego investment firm purchased the property from American Financial Realty Trust, which was represented in the sale by Eastdil...
LEM Taps Capital Markets Exec to Manage CDO
LEM Mezzanine has hired Frank Sparrow as vice president of capital markets.Sparrow joins the Philadelphia lender from Capmark Finance Inc., where he was vice president and portfolio manager. He managed a $5.5 billion portfolio of mortgages, mezzanine loans, preferred equity...
$201Mln Student Housing Portfolio on Sales Block
FortGroup is offering for sale a five-property, 4,477-bed student housing portfolio for $201 million.The St. Augustine, Fla., student housing developer has tapped Marcus & Millichap to market the properties, which are located in Gainesville, Fla., Athens, Ga., Columbia, Mo., and...
Westbrook Takes Stake in Washington Offices
Westbrook Partners has taken an equity position in a portfolio of four Washington, D.C., office buildings with nearly 390,000 square feet in a recapitalization valued at $100 million.The investment manager becomes a venture partner in the properties with ICG Properties,...
American Assets is Buyer of Fireman’s Fund HQ
American Assets Inc. has completed the $312 million purchase of the Fireman's Fund headquarters, a 710,330-square-foot complex in Novato, Calif.The San Diego investment firm purchased the property from American Financial Realty Trust, which was represented in the sale by Eastdil...
DTZ Rockwood Opens in Miami; Hires John Bell
John Bell, executive vice president and principal of Trammell Crow, has joined DTZ Rockwood as managing director and will head the company's new Miami investment sales operation.Donald B. Cartwright, who was principal and area director for South Florida at Trammell,...
CB Launches Effort to Advise Foreign Buyers of U.S. Realty
CB Richard Ellis has launched a unit to advise clients, primarily foreign investors, seeking to buy properties in the United States.It has placed Joseph Callanan, who had been head of Trammell Crow Co.'s Northeast region, to head the operation, CBRE...
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