The long-awaited securitization of the debt that Blackstone Group used to finance its $38.7 billion acquisition of Equity Office Properties Trust has finally hit the market. The private-equity giant had assumed or borrowed $31.2 billion for its acquisition....
Commercial Real Estate Direct Staff ReportA trio of private equity firms that includes real estate investor Lubert-Adler Partners is buying Central Parking Corp. for $746 million.Kohlberg & Co. and Chrysalis Capital Partners, whose investment focuses are on operating...
By Jeff Mordock, Commercial Real Estate Direct Staff WriterHines REIT is offering for sale Citymark, a 218,943-square-foot office building in downtown Dallas.The Houston firm has tapped CB Richard Ellis' Dallas office to market the 11-story building. It is...
Commercial Real Estate Direct Staff ReportAnother three CMBS deals hit the market today and when they price, the year's total volume of domestic issuance will have exceeded $100 billion.And the thinking is that despite the evident slowdown in...
By Jeff Mordock, Commercial Real Estate Direct Staff WriterAn affiliate of Wachovia Bank is offering for sale 7500 Tank Ave., a 268,000-square-foot industrial property in the Detroit suburb of Warren, Mich. The property is fully leased to Johnson...
The long-awaited securitization of the debt that Blackstone Group used to finance its $38.7 billion acquisition of Equity Office Properties Trust has finally hit the market. The private-equity giant had assumed or borrowed $31.2 billion for its acquisition....
A venture led by Highwoods Properties Inc., has paid $40 million for Eola Park Centre, 167,000-square-foot office building in Orlando, Fla.The venture, dubbed DLF Highwoods, purchased the property from LaSalle Investment Management. Highwoods funded the acquisition with a...
Lexington Realty Trust is offering for sale a 108,400-square-foot office complex in the Philadelphia suburb of King of Prussia, Pa.The New York REIT has tapped the Philadelphia office of Grubb & Ellis to market the property, which consists...
Commercial Real Estate Direct Staff ReportHines has acquired the 2100 M St. NW office building in downtown Washington, D.C., from Prudential Real Estate Investors. A price was not disclosed, but CoStar has reported that the 306,663-square-foot building sold...
A venture between Praedium Group, Centennial Real Estate Corp., and Westmount Realty Capital has paid $29.5 million for Dallas-area retail portfolios totaling 383,494 square feet. The venture picked up four former Albertsons grocery stores, which total 238,247 sf...
Commercial Real Estate Direct Staff ReportLiquid Realty Partners has acquired a substantial interest in a portfolio of seven full-service hotels with some 2,000 units owned by Western & Southern Financial Group.Liquid, a San Francisco investment manager that specializes...
Pennsylvania Real Estate Investment Trust has lined up $150 million of financing for the Mall at Prince Georges, an 836,000-square-foot retail property in Hyattsville, Md.The Philadelphia REIT received the financing from Wells Fargo Bank. It carries an interest...
Commercial Real Estate Direct Staff ReportFillmore Capital Partners is crying foul over the rejection of its bid for seniors property operator Genesis Healthcare Corp.Fillmore claims that the Genesis board of directors failed to give it a chance to...
A venture led by Highwoods Properties Inc., has paid $40 million for Eola Park Centre, 167,000-square-foot office building in Orlando, Fla.The venture, dubbed DLF Highwoods, purchased the property from LaSalle Investment Management. Highwoods funded the acquisition with a...
Lexington Realty Trust is offering for sale a 108,400-square-foot office complex in the Philadelphia suburb of King of Prussia, Pa.The New York REIT has tapped the Philadelphia office of Grubb & Ellis to market the property, which consists...
Commercial Real Estate Direct Staff ReportHines has acquired the 2100 M St. NW office building in downtown Washington, D.C., from Prudential Real Estate Investors. A price was not disclosed, but CoStar has reported that the 306,663-square-foot building sold...
A venture between Praedium Group, Centennial Real Estate Corp., and Westmount Realty Capital has paid $29.5 million for Dallas-area retail portfolios totaling 383,494 square feet. The venture picked up four former Albertsons grocery stores, which total 238,247 sf...
Commercial Real Estate Direct Staff ReportLiquid Realty Partners has acquired a substantial interest in a portfolio of seven full-service hotels with some 2,000 units owned by Western & Southern Financial Group.Liquid, a San Francisco investment manager that specializes...
Pennsylvania Real Estate Investment Trust has lined up $150 million of financing for the Mall at Prince Georges, an 836,000-square-foot retail property in Hyattsville, Md.The Philadelphia REIT received the financing from Wells Fargo Bank. It carries an interest...
Commercial Real Estate Direct Staff ReportFillmore Capital Partners is crying foul over the rejection of its bid for seniors property operator Genesis Healthcare Corp.Fillmore claims that the Genesis board of directors failed to give it a chance to...
Commercial Real Estate Direct Staff ReportBond buyers have become leery of investing in CMBS conduits, preferring to wait until Moody's Investors Service puts into effect a proposed change to its ratings model that will result in an increase...
Westcore Properties LLC has paid $46.7 million for five office and R&D building in San Jose, Calif. Westcore, of San Diego, bought the buildings from Eagle Ridge Partners of Minneapolis. The buildings, which total 430,000 square feet and...
Ronald J. Platisha, former executive vice president of finance for CB Richard Ellis Inc., has joined BH Properties as chief financial officer. As CFO, Platisha will oversee the financial management of BH, a Los Angeles investor with a...
Ashford Hospitality Trust Inc. has completed the $57.5 million sale of seven Towne Place Suites with 697 rooms.The portfolio is part of a package of properties that the Dallas company put on the sales block earlier this year...
Commercial Real Estate Direct Staff ReportThe Teachers' Retirement System of the State of Illinois has committed $250 million to three commingled real estate investment funds.The pension fund, which has $39.7 billion in assets, committed $100 million each to...
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