General News

A unit of Centerline Capital Group has raised $405 million of capital for a pair of low-income housing tax credit funds. The company, previously known as CharterMac, has raised a series of funds, which are capitalized by bank and other...

Bear Stearns has provided $59.9 million of fixed-rate financing for Worldgate Plaza, a 322,325-square-foot office complex in Herndon, Va.The loan requires only interest payments through its 2017 maturity and carries a rate of 5.52 percent. The four-building property is owned...

Wachovia Bank has provided $120.5 million of mortgage debt for three office properties recently purchased on behalf of an investment affiliate of Grubb & Ellis Co.The three properties are Danbury Corporate Center, a 1 million-square-foot office property in Danbury, Conn.,...

Inland American Real Estate Trust has committed to make a $250 million preferred equity investment in an investment vehicle sponsored by Lauth Group, an Indianapolis developer of office, retail, industrial and healthcare properties. Inland, an Oak Brook, Ill., REIT whose...

FirstService Corp. is continuing its expansion in the commercial real estate service sector.It has acquired a majority interest in Colliers Monroe Friedlander, a Hawaii intermediary that has handled more than $600 million of transactions last year and manages 5 million...

Thiemann Real Estate has paid $14.3 million for Camden Taravue, a 304-unit apartment complex in St. Louis.The St. Louis firm purchased the property from Camden Property Trust of Houston, which marketed it through HFF Inc.Thiemann funded the acquisition with $11.9...

A venture between Sterling American Property Inc. and Hines has paid $130 million for 300 Capitol Mall, a 383,238-square-foot office building in Sacramento, Calif. The 18-story property, also known as the Emerald Tower, was acquired from Invesco Real Estate, which...

A unit of Centerline Capital Group has raised $405 million of capital for a pair of low-income housing tax credit funds. The company, previously known as CharterMac, has raised a series of funds, which are capitalized by bank and other...

Commercial Real Estate Direct Staff ReportRBS Greenwich Capital has provided $270 million of financing for a portfolio of six office buildings in northern New Jersey with 1 million square feet.The portfolio was owned by Reckson Associates Realty Corp., which SL...

Hines Sumisei U.S. Core Office Fund has agreed to pay about $140 million for the Carillon building, a 469,226-square-foot office property in Charlotte, N.C. The fund, which is part owned by Hines REIT of Houston, is buying the 24-story building...