Increases in hotel average daily rates will slow through the rest of the year, according to the hospitality practice of PricewaterhouseCoopers.The Big Four consulting and accounting firm projects a 5.9 percent growth for ADR nationwide this year, down...
Triple Net Properties has acquired the San Marin Apartments, a 220-unit apartment complex in Corpus Christi, Texas.The Santa Ana, Calif., real estate firm bought the property, which was built in 1998, from Parkwood Management Co. of Fountain Green,...
Commercial Real Estate Direct Staff ReportMoody's Investors Service started publishing monthly monitoring reports for collateralized debt obligations backed by commercial real estate.The reports, similar to those the rating agency publishes for CMBS transactions and for CDOs backed by...
A venture between Lowe Enterprises and O'Connor Capital Partners has purchased San Mateo Executive Park, a 270,000-square-foot office campus in San Mateo, Calif.A purchase price was not disclosed, but the property is said to have sold for $86...
CWCapital has named Timothy Gardner and Michael Ostella vice presidents of its Los Angeles and Dallas offices, respectively.Gardner, who will report to CWCapital's West Coast regional manager David Cook, was previously senior vice president with Capmark Finance Inc.,...
Triple Net Properties has acquired the Siena Office Park Buildings Three and Five, totaling more than 101,000 square feet, in Henderson, Nev.The Santa Ana, Calif., company purchased the property on behalf of tenant-in-common investors for an undisclosed price.Office...
Kensico Properties, which earlier this year purchased Pickwick Plaza in Greenwich, Conn., has added to its collection in the upscale city. It has paid $142.5 million, a whopping $1,083/sf, for 55 Railroad Ave.The purchase price amounts to a...
Nationwide Life Insurance has provided $77.5 million of fixed-rate financing for Summit Place, a 650,000-square-foot office complex in the Milwaukee suburb of West Allis, Wis.The 10-year financing, which pays only interest for the first four years, was originated...
Increases in hotel average daily rates will slow through the rest of the year, according to the hospitality practice of PricewaterhouseCoopers.The Big Four consulting and accounting firm projects a 5.9 percent growth for ADR nationwide this year, down...
Commercial Real Estate Direct Staff ReportMoody's Investors Service started publishing monthly monitoring reports for collateralized debt obligations backed by commercial real estate.The reports, similar to those the rating agency publishes for CMBS transactions and for CDOs backed by...
Commercial mortgage origination volumes during the first quarter ran a blistering 37 percent ahead of the same period last year, according to a survey by the Mortgage Bankers Association.That increased volume was driven in large part by the...
Morgan Stanley Mortgage Capital Inc. has provided $140 million of financing for two Northern Virginia malls totaling 843,000 square feet. HHH Properties, which is controlled by Washington, D.C., businessman Herbert Haft received the debt, which was arranged by...
National Office Properties LP has purchased 301 Congress, a 418,338-square-foot office property in Austin, Texas, from a venture between Crescent Real Estate Equities Co. and Aetna.National Office is a venture between Hines and the California Public Employees' Retirement...
Thayer Lodging Group has purchased three Marriott-brand hotels with 825 rooms at the Miami International Airport from Marriott International Inc. for $57.5 million. The Annapolis, Md., real estate company plans to invest an additional $65 million on a...
Arbor Realty Trust Inc. has committed to invest $210 million in Lightstone Group's $8 billion acquisition of Extended Stay Hotels from Blackstone Group.Arbor's preferred equity investment is senior to up to another $450 million of subordinate preferred equity...
The Brandeis Building, an Omaha, Neb., office property that was being converted to residential condominiums, is on the sales block.NAI NP Dodge Commercial Real Estate of Omaha is marketing the property, which was placed on the sales block...
Kimco Realty Corp. has paid $354 million for 12 retail centers in California and Nevada totaling 1.1 million square feet.The New Hyde Park, N.Y., REIT purchased the properties from Wall Street Properties Co. of Del Mar, Calif. They...
National Office Properties LP has purchased 301 Congress, a 418,338-square-foot office property in Austin, Texas, from a venture between Crescent Real Estate Equities Co. and Aetna.National Office is a venture between Hines and the California Public Employees' Retirement...
Fitch Ratings has upgraded Prudential Asset Resources' master servicer rating to CMS2 from CMS2- and affirmed its CPS2 primary and CSS2- special servicing ratings.The rating agency said the upgrade was due to Prudential's new investor Web site, improved...
Arbor Realty Trust Inc. has committed to invest $210 million in Lightstone Group's $8 billion acquisition of Extended Stay Hotels from Blackstone Group.Arbor's preferred equity investment is senior to up to another $450 million of subordinate preferred equity...
Larry Wilemon, a former senior vice president with George Smith Partners, has joined HFF Inc. as managing director in the firm's Los Angeles office.Wilemon is an attorney who had helped complete more than $2 billion of financing transactions...
Kimco Realty Corp. has paid $354 million for 12 retail centers in California and Nevada totaling 1.1 million square feet.The New Hyde Park, N.Y., REIT purchased the properties from Wall Street Properties Co. of Del Mar, Calif. They...
Thomas Properties Group has sold the Intercontinental Center, with 196,895 square feet in Houston, to Bresler & Reiner Inc. for $24.2 million.Thomas, headquartered in Los Angeles, had taken over the property two years ago when it purchased, with...
Fitch Ratings has upgraded Prudential Asset Resources' master servicer rating to CMS2 from CMS2- and affirmed its CPS2 primary and CSS2- special servicing ratings.The rating agency said the upgrade was due to Prudential's new investor Web site, improved...
Larry Wilemon, a former senior vice president with George Smith Partners, has joined HFF Inc. as managing director in the firm's Los Angeles office.Wilemon is an attorney who had helped complete more than $2 billion of financing transactions...
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