RECENT NEWS
LEM Taps John Christen for Originations
LEM Mezzanine has hired John Christen, a former senior vice-president with RAIT Financial Trust, as managing director to focus on loan originations.Christen will originate a variety of loan products, including mezzanine and bridge loans, B-notes and other structured...
Triple Net Buys 751,000 SF of Office Space in Austin, Texas
Triple Net Properties has purchased two downtown Austin, Texas, office properties totaling 751,000 square feet.The two properties are the 433,000-sf 816 Congress and the 318,000-sf Avallon office complex. They were acquired from Crescent Real Estate Equities of Fort...
GE Lends $54.4Mln for Boston Portfolio
GE Real Estate has provided $54.4 million of financing to KS Partners for its acquisition of a 10-building portfolio of office and industrial buildings in the Boston suburb of Braintree, Mass.KS, led by Kambiz Shahbazi, a former founder...
Arden Pays $45Mln for Scottsdale Office
Arden Realty has paid $45.5 million for the Scottsdale Center, a 167,000-square-foot office complex in suburban Phoenix.The Los Angeles firm, which GE Real Estate acquired last year, is buying the five-building complex from an affiliate of CMD Realty...
BPG Raises $850Mln for Latest Fund
BPG Properties Ltd. has raised $850 million of investor commitments for its latest investment vehicle, BPG Investment Partnership VIII.The fund is the largest ever raised by BPG, a Philadelphia investment manager that has raised more than $2.8 billion...
San Diego R&D Property Sells for $72Mln
A venture between Veralliance Properties and Prudential Real Estate Investors has paid $72 million for Campus Point Technology Center, a 424,345-square-foot industrial property in the University Towne Center area of San Diego.The property, at 10300 Campus Point Dr.,...
Arizona Office Sells for $57.8Mln
BPG Properties Ltd. has paid $57.75 million for Financial Plaza, a 310,000-square-foot office building in Mesa, Ariz.The 16-story property, at Alma School Road and Southern Ave. in suburban Phoenix, was purchased from Crescent Real Estate Equities, which had...
Countrywide Lends $46.18Mln for Tallahassee, Fla., Office
Commercial Real Estate Direct Staff ReportCountrywide Commercial Real Estate Finance has provided $46.18 million of acquisition financing for the Northwood Centre office building in Tallahassee, Fla. The Calabasas, Calif., lender provided the 10-year mortgage to Ajax Investment Partners...
ING Venture Pays $28Mln for Calif. Medical Office
A venture led by ING Clarion Partners has paid $28 million for the Valley Parkway Health Center, a 70,000-square-foot medical office building in San Diego's Escondido area.The venture, with Montecito Medical Co., was formed earlier this year to...
Suburban L.A. Retail Property Sells for $15.7Mln
Aspen Management Co. has sold the Ranch Center, a 60,022-square-foot retail property in the Los Angeles suburb of Diamond Bar, Calif., for $15.7 million, or $262/sf.The Tarzana, Calif., firm sold the property to an El Monte, Calif., investor...
Allstate Lends Another $25Mln for Houston Mixed-Use Project
Allstate Real Estate Investment Group has provided $25 million of financing for the expansion of Town and Country Village, a mixed-use property in Houston.Allstate now has a total of $77 million on the property, which is owned by...
San Diego R&D Property Sells for $72Mln
A venture between Veralliance Properties and Prudential Real Estate Investors has paid $72 million for Campus Point Technology Center, a 424,345-square-foot industrial property in the University Towne Center area of San Diego.The property, at 10300 Campus Point Dr.,...
Countrywide Lends $46.18Mln for Tallahassee, Fla., Office
Commercial Real Estate Direct Staff ReportCountrywide Commercial Real Estate Finance has provided $46.18 million of acquisition financing for the Northwood Centre office building in Tallahassee, Fla. The Calabasas, Calif., lender provided the 10-year mortgage to Ajax Investment Partners...
BPG Raises $850Mln for Latest Fund
BPG Properties Ltd. has raised $850 million of investor commitments for its latest investment vehicle, BPG Investment Partnership VIII.The fund is the largest ever raised by BPG, a Philadelphia investment manager that has raised more than $2.8 billion...
Suburban L.A. Retail Property Sells for $15.7Mln
Aspen Management Co. has sold the Ranch Center, a 60,022-square-foot retail property in the Los Angeles suburb of Diamond Bar, Calif., for $15.7 million, or $262/sf.The Tarzana, Calif., firm sold the property to an El Monte, Calif., investor...
ING Venture Pays $28Mln for Calif. Medical Office
A venture led by ING Clarion Partners has paid $28 million for the Valley Parkway Health Center, a 70,000-square-foot medical office building in San Diego's Escondido area.The venture, with Montecito Medical Co., was formed earlier this year to...
Arizona Office Sells for $57.8Mln
BPG Properties Ltd. has paid $57.75 million for Financial Plaza, a 310,000-square-foot office building in Mesa, Ariz.The 16-story property, at Alma School Road and Southern Ave. in suburban Phoenix, was purchased from Crescent Real Estate Equities, which had...
Allstate Lends Another $25Mln for Houston Mixed-Use Project
Allstate Real Estate Investment Group has provided $25 million of financing for the expansion of Town and Country Village, a mixed-use property in Houston.Allstate now has a total of $77 million on the property, which is owned by...
NorthStar Securities Fund Has First Closing
NorthStar Realty Finance Corp. has raised $109 million of equity commitments for NorthStar Real Estate Securities Opportunity Fund, one of two investment vehicles the New York finance company is planning as part of a broad move into the...
Corus Lends $190Mln for Los Angeles Condos
An affiliate of Astani Enterprises Inc. has lined up $190 million of financing from Corus Bank for construction of the first phase of Concerto, a 624-unit residential condominium complex in downtown Los Angeles.The complex will contain two 30-story...
Wells, Regions Lend $95Mln for NASCAR HQ
Wells Fargo & Co. and Regions Bank have provided $95 million of construction financing for the development of the NASCAR Corporate Plaza, a 376,401-square-foot office building in downtown Charlotte, N.C.The financing, arranged by Wells' Chicago real estate group,...
Triple Net Pays $15Mln for Charlotte Apartments
Triple Net Properties has paid $15 million for the Residences at Braemar, a 160-unit apartment complex in Charlotte, N.C.The Santa Ana, Calif., real estate firm purchased the property from a group operating as Braemer Housing LLC.Triple Net funded...
Apartments in Manhattan’s Upper East Side Sell for $39Mln
Stonehenge Partners has acquired 330 East 63rd St., a 93-unit multifamily property in Manhattan for $39 million from a local family. Stonehenge, a New York company headed by Ofer Yardeni and Joel Seiden, plans to gradually increase rents...
UrbanAmerica Sells Fla. Office for $50Mln
UrbanAmerica LP has sold Northwood Center, a 495,000-square-foot office building in Tallahassee, Fla., for $50 million.The two-story building was sold to Ajax Investment Partners of New York.UrbanAmerica had purchased the property seven years ago for $31 million from...
Bear Lends $220Mln for NY Office
Commercial Real Estate Direct Staff ReportBear Stearns has provided $220 million of fixed-rate financing for 360 Park Ave. South, a 451,800-square-foot office building in Manhattan's Midtown South neighborhood.The mortgage is unusual in that it has a 15-year term....
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