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...

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...

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...

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,...

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,...

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...

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...

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...

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...

Investcorp has acquired a 96 percent interest in a portfolio of nine full-service hotels with 2,828 rooms from Procaccianti Group, in a deal valuing the properties at $450 million.Investcorp, whose parent is based in Bahrain and is capitalized...

David M. Jacobstein, who earlier this month stepped down as president and chief operating officer of Developers Diversified Realty Corp., has joined Deloitte & Touche USA as senior adviser to the consulting firm's real estate group.At Deloitte, Jacobstein...

Bank of America provided $483 million of financing to a venture between Blackacre Institutional Capital Management and Murray Hill Properties for its $550 million purchase of the 924,501-square-foot office building at One Park Ave. in midtown Manhattan.The five-year financing...

A venture between Griffith Properties and Urdang Capital Management has paid $45 million for HarborSouth Tower, a 200,000-square-foot office building in Quincy, Mass.The venture purchased the property from an undisclosed local investor, who marketed the 10-story building through...

Equastone has purchased the Equitable Building, a 624,642-square-foot office building in downtown Atlanta. A purchase price was not disclosed, but a source familiar with the property said it traded for about $55 million.The La Jolla, Calif., firm purchased...

By Jeff Mordock, Commercial Real Estate Direct Staff WriterThe Soffer Organization has decided against selling Quantum 1, a 159,000-square-foot office building in Pittsburgh. The Pittsburgh developer, which is run by the Soffer family, had placed the property on...

Australian investment manager Babcock & Brown has agreed to buy Gregory Greenfield & Associates, an Atlanta shopping mall owner and operator that has a controlling interest in eight regional malls.Babcock & Brown did not say how much it...

Bank of America provided $483 million of financing to a venture between Blackacre Institutional Capital Management and Murray Hill Properties for its $550 million purchase of the 924,501-square-foot office building at One Park Ave. in midtown Manhattan.The five-year financing...

Investcorp has acquired a 96 percent interest in a portfolio of nine full-service hotels with 2,828 rooms from Procaccianti Group, in a deal valuing the properties at $450 million.Investcorp, whose parent is based in Bahrain and is capitalized...

Equastone has purchased the Equitable Building, a 624,642-square-foot office building in downtown Atlanta. A purchase price was not disclosed, but a source familiar with the property said it traded for about $55 million.The La Jolla, Calif., firm purchased...

David M. Jacobstein, who earlier this month stepped down as president and chief operating officer of Developers Diversified Realty Corp., has joined Deloitte & Touche USA as senior adviser to the consulting firm's real estate group.At Deloitte, Jacobstein...

Australian investment manager Babcock & Brown has agreed to buy Gregory Greenfield & Associates, an Atlanta shopping mall owner and operator that has a controlling interest in eight regional malls.Babcock & Brown did not say how much it...

A venture between Griffith Properties and Urdang Capital Management has paid $45 million for HarborSouth Tower, a 200,000-square-foot office building in Quincy, Mass.The venture purchased the property from an undisclosed local investor, who marketed the 10-story building through...

By Jeff Mordock, Commercial Real Estate Direct Staff WriterThe Soffer Organization has decided against selling Quantum 1, a 159,000-square-foot office building in Pittsburgh. The Pittsburgh developer, which is run by the Soffer family, had placed the property on...

Commercial Real Estate Direct Staff ReportMid-America Apartment Communities Inc. has established a value-add investment fund slated to acquire $500 million of multifamily properties.The Mid-America Multifamily Fund I LLC, which was capitalized by the REIT and institutional investors, is...

Commercial Real Estate Direct Staff ReportMid-America Apartment Communities Inc. has established a value-add investment fund slated to acquire $500 million of multifamily properties.The Mid-America Multifamily Fund I LLC, which was capitalized by the REIT and institutional investors, is...