Crown West Realty has paid $18.1 million for Cobb Corporate Center, a 195,921-square-foot office/industrial park in the Atlanta suburb of Marietta, Ga.The Phoenix real estate firm is buying the complex from Brookwood Financial Partners of Beverly, Mass. Resource...
An affiliate of USAA Real Estate Co. has purchased 5810 Trade Center Court, a 399,500-square-foot industrial building in Atlanta.The affiliate, US Industrial REIT II, purchased the building from Panattoni Development Co., a Sacramento, Calif., developer. Panattoni marketed the...
Michael Nash, who formerly led Merrill Lynch's real estate principal investment group, has joined Blackstone Group as senior managing director in its real estate group.In his new post, Nash will focus on developing business initiatives within the real...
ClassAmt$mlnSubLevel%AvgLife (yrs)RatingFitchRatingMoody'sFinalPricing (bp)BnchmarkA-150.0020.003.16AAAAaa+21swapsA-1A529.7020.00NAAAAAaaNAswapsA-2231.5020.005.75AAAAaa+43swapsA-J105.209.6256.61AAAAaa+48swapsB15.208.1257.08AAAa2+55swapsC17.706.3757.40AA2+75swapsD20.304.3758.47BBB+Baa1+120swapsE10.103.3759.11BBBBaa2+150swapsF7.602.6259.21BBB-Baa3+225swaps*Notional amount, interest onlyCollateral balance: $1,014 billionBookrunner(s): Morgan StanleyLead Managers: Morgan Stanley, Sovereign Securities Corp.Master Servicer: Capmark FinanceSpecial Servicer: Sovereign BankTrustee: Wells Fargo BankOriginators: Sovereign Bank (100 percent)Number of Loans/Properties: 264/313Top-10 Concentration: 18.4 percentProperty Types:...
Collateralized debt obligations backed by commercial real estate could be more heavily penalized under Moody's Investors Service's revised credit support rules."We don't want to rule out any options," said Tad Philipp, managing director of the rating agency. The...
The Klein Co. has lined up $33.5 million of financing for Townline Townhomes, a 320-unit residential property in the Philadelphia suburb of Blue Bell, Pa.The Philadelphia multifamily developer received the financing from Principal Global Investors. HFF Inc.'s Florham...
JEMB Realty has paid $50 million for the remaining 190 units at Regatta Bay, a condominium property in Annapolis, Md. The New York real estate firm purchased the units from an undisclosed seller. The units account for roughly...
A venture between Lexington Realty Trust and Winthrop Realty Trust has increased the price of its tender offer to buy Wells Real Estate Investment Trust, Inc. The venture, which operates as Lex-Win Acquisition, raised its offer price to...
New York PostThe Icon Group purchased 35 multifamily buildings on Manhattan's Upper East Side for $160 million from the Klein family. The New York firm plans to upgrade the buildings, which include 760 apartments and five retail store...
Noble Investment Group has acquired six hotels with a combined 754 rooms from Global Hyatt Corp. The purchase price was not released.Noble of Atlanta will invest an average of $30,000/key in converting the properties, now operated under the...
Commercial Real Estate Staff reportCapital Partners has acquired the Rincon Center Residential Towers in San Francisco for $143 million from a fund managed by Beacon Capital Partners.The two building, 320-unit property at 88 Howard Street is part of Rincon...
An undisclosed seller is offering for sale Chantry Square, a 243,560-square-foot shopping center in Columbus, Ohio, for $23.3 million.The seller has tapped the Columbus office of Marcus & Millichap to market the property.Chantry Square sits on 21 acres...
Silver-McCann Apartment Group II has purchased the Barons Apartments, a 508-unit residential property in Dallas.The buyer, which is a joint venture between McCann Realty Partners and Silver Capital, purchased the property from an affiliate of Mockingbird Properties of...
Commercial Real Estate Direct Staff Report General Property Trust (GPT) of Australia has paid $265 million for a 95 percent stake in 19 properties managed by Benchmark Assisted Living. Benchmark, a Wellesley Hills, Mass., operator of seniors care...
An undisclosed owner has lined up $35 million of mortgage debt for the Sheraton Imperial Raleigh, a 331-room hotel in Durham, N.C.Prudential Mortgage Capital provided the financing, which carries a 10-year term with a fixed-rate. Todd Crouse of...
JEMB Realty has paid $50 million for the remaining 190 units at Regatta Bay, a condominium property in Annapolis, Md. The New York real estate firm purchased the units from an undisclosed seller. The units account for roughly...
Mack-Cali Realty Corp. has paid $13 million for 43 acres of developable land adjacent to the Capital Office Park in Greenbelt, Md.The Cranford, N.J., REIT purchased the land from a venture between Greenbelt Associates and Sixteenth Springhill Lake...
New York PostThe Icon Group purchased 35 multifamily buildings on Manhattan's Upper East Side for $160 million from the Klein family. The New York firm plans to upgrade the buildings, which include 760 apartments and five retail store...
Commercial Real Estate Staff reportCapital Partners has acquired the Rincon Center Residential Towers in San Francisco for $143 million from a fund managed by Beacon Capital Partners.The two building, 320-unit property at 88 Howard Street is part of Rincon...
Silver-McCann Apartment Group II has purchased the Barons Apartments, a 508-unit residential property in Dallas.The buyer, which is a joint venture between McCann Realty Partners and Silver Capital, purchased the property from an affiliate of Mockingbird Properties of...
An undisclosed owner has lined up $35 million of mortgage debt for the Sheraton Imperial Raleigh, a 331-room hotel in Durham, N.C.Prudential Mortgage Capital provided the financing, which carries a 10-year term with a fixed-rate. Todd Crouse of...
Mack-Cali Realty Corp. has paid $13 million for 43 acres of developable land adjacent to the Capital Office Park in Greenbelt, Md.The Cranford, N.J., REIT purchased the land from a venture between Greenbelt Associates and Sixteenth Springhill Lake...
The Klein Co. has lined up $33.5 million of financing for Townline Townhomes, a 320-unit residential property in the Philadelphia suburb of Blue Bell, Pa.The Philadelphia multifamily developer received the financing from Principal Global Investors. HFF Inc.'s Florham...
A venture between Lexington Realty Trust and Winthrop Realty Trust has increased the price of its tender offer to buy Wells Real Estate Investment Trust, Inc. The venture, which operates as Lex-Win Acquisition, raised its offer price to...
Noble Investment Group has acquired six hotels with a combined 754 rooms from Global Hyatt Corp. The purchase price was not released.Noble of Atlanta will invest an average of $30,000/key in converting the properties, now operated under the...
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