RECENT NEWS
Triple Net Purchases St. Louis Office Building
Triple Net Properties has acquired 8555 University Place, a 315,000-square-foot office building in St. Louis.The Santa Ana, Calif., firm purchased the three-story building on behalf of tenant-in-common investors from Northpark Partners ESA, a St. Louis venture consisting of...
Ann Arbor, Mich., Developer Seeks Equity Partner for Mixed-Use Project
The Concannon Co. is seeking a joint venture equity partner for The Gallery, a 305,222-square-foot mixed-use development in Ann Arbor, Mich.The Ann Arbor development firm has tapped Marcus & Millichap to seek a partner to pay $67 million,...
AIG Provides $17.8Mln for Suburban Alexandria, Va., Office Buildings
AIG Global Investment Group has provided $17.8 million to finance Towngate III and IV, a two-building office development with 106,400 square feet in Alexandria, Va.ELV Associates Inc. of Boston received the 10-year, fixed-rate financing, which was arranged by...
Thomas Group Closes $1.2Bln Texas Buy from Blackstone
A venture led by Thomas Properties Group Inc. has completed its $1.15 billion acquisition of a portfolio of 10 office properties with 3.5 million square feet in the Austin, Texas, area from Blackstone Real Estate Advisors. The properties...
Bascom Pays $48Mln for Atlanta Apartments
Bascom Group has paid $48 million for the Dunwoody Club, a 532-unit apartment complex in Atlanta.The Irvine, Calif., firm purchased the complex from Place Properties of Atlanta, which marketed the property through CB Richard Ellis.Bascom plans to renovate...
UrbanAmerica Sells 7 Washington, D.C., Properties for $48.5Mln
UrbanAmerica LP has sold seven office and retail properties with 331,000 square feet in the Washington, D.C., area for $48.5 million.The properties were sold to a local investor group operating as Urban Retail Investors LLC. They are: 3907...
Morgan Stanley Provides $29Mln for Financing for Portland, Ore., Mixed-Use Project
Morgan Stanley Mortgage Capital Inc. has provided $29 million of acquisition financing for Uptown Shopping Center, a 72,260-square-foot retail development, and the adjacent Uptown Apartments, a 47-unit complex, both in Portland, Ore.Atlas Investing, a Boston retail developer, received...
CIM Group Purchases Two Oakland Hotels Totaling 646 Rooms
CIM Group has purchased two hotel properties in downtown Oakland totaling 646 rooms. The Los Angeles hospitality firm is purchasing the properties, the 484-room Oakland City Center Marriott and a 162-room Courtyard Oakland Downtown, from a joint venture...
Malibu Office Building Sells for $17.5Mln
Kenmore Group LLC has paid $17.5 million for Malibu Vista, 30,742-square-foot office building in Malibu, Calif.The Santa Monica, Calif., investment firm purchased the property from Malibu Vista Partners of Beverly Hills, Calif., which was represented by Sperry Van...
Office Building in Manhattan’s Herald Square Sells for $105Mln
New York Community Bancorp Inc. has agreed to sell 960 Ave. of the Americas, a 99,000-square-foot office building in Manhattan's Herald Square neighborhood, for $105 million.The lender took over the property last year when it acquired Atlantic Bank...
Office Space at Scottsdale, Ariz., Mixed-Use Complex Sells for $88Mln
Levine Investments is paying $88 million for the 250,000-square-foot office portion of the Promenade Corporate Center, a 1 million-sf mixed-use complex in North Scottsdale, Ariz. The Phoenix firm acquired the space from The Pederson Group, a Phoenix developer,...
Health Care Service Corp. to Expand Chicago Headquarters
Chicago Sun Times Health Care Service Corp. has announced that it will add 24 stories to its building at 300 E. Randolph in Chicago's East Loop. Health Care Service Corp., the parent company for Blue Cross and Blue...
Heitman Raises $800Mln for Second Value-Add Fund
Heitman LLC has raised $800 million of equity commitments for its latest value-add investment vehicle, Heitman Value Partners II.The capital was raised from 20 institutional clients and could be leveraged into more than $2.4 billion of investments. Heitman,...
Ann Arbor, Mich., Developer Seeks Equity Partner for Mixed-Use Project
The Concannon Co. is seeking a joint venture equity partner for The Gallery, a 305,222-square-foot mixed-use development in Ann Arbor, Mich.The Ann Arbor development firm has tapped Marcus & Millichap to seek a partner to pay $67 million,...
SCI Pays $125Mln for Student Housing Portfolio
SCI Investments has purchased a 1,021-unit portfolio of student housing properties located throughout the country.The Los Angeles firm purchased the property on behalf of tenant-in-common investors from GMH Communities Trust of Newtown Square, Pa., which marketed the portfolio...
AIG Provides $17.8Mln for Suburban Alexandria, Va., Office Buildings
AIG Global Investment Group has provided $17.8 million to finance Towngate III and IV, a two-building office development with 106,400 square feet in Alexandria, Va.ELV Associates Inc. of Boston received the 10-year, fixed-rate financing, which was arranged by...
Thomas Group Closes $1.2Bln Texas Buy from Blackstone
A venture led by Thomas Properties Group Inc. has completed its $1.15 billion acquisition of a portfolio of 10 office properties with 3.5 million square feet in the Austin, Texas, area from Blackstone Real Estate Advisors. The properties...
Triple Net Purchases St. Louis Office Building
Triple Net Properties has acquired 8555 University Place, a 315,000-square-foot office building in St. Louis.The Santa Ana, Calif., firm purchased the three-story building on behalf of tenant-in-common investors from Northpark Partners ESA, a St. Louis venture consisting of...
Morgan Stanley Provides $29Mln for Financing for Portland, Ore., Mixed-Use Project
Morgan Stanley Mortgage Capital Inc. has provided $29 million of acquisition financing for Uptown Shopping Center, a 72,260-square-foot retail development, and the adjacent Uptown Apartments, a 47-unit complex, both in Portland, Ore.Atlas Investing, a Boston retail developer, received...
CIM Group Purchases Two Oakland Hotels Totaling 646 Rooms
CIM Group has purchased two hotel properties in downtown Oakland totaling 646 rooms. The Los Angeles hospitality firm is purchasing the properties, the 484-room Oakland City Center Marriott and a 162-room Courtyard Oakland Downtown, from a joint venture...
Bascom Pays $48Mln for Atlanta Apartments
Bascom Group has paid $48 million for the Dunwoody Club, a 532-unit apartment complex in Atlanta.The Irvine, Calif., firm purchased the complex from Place Properties of Atlanta, which marketed the property through CB Richard Ellis.Bascom plans to renovate...
Malibu Office Building Sells for $17.5Mln
Kenmore Group LLC has paid $17.5 million for Malibu Vista, 30,742-square-foot office building in Malibu, Calif.The Santa Monica, Calif., investment firm purchased the property from Malibu Vista Partners of Beverly Hills, Calif., which was represented by Sperry Van...
Maguire Seeks Partner for 900-Acre Dallas Mixed-Use Project
Maguire Partners is offering for sale a stake in its 900-acre Solana mixed-use project in Dallas.The Los Angeles firm has tapped HFF Inc. to explore the sale of a partnership interest to an institutional investor. The partner will...
Cushman Opens Office in Sacramento, Calif.; Hires Strain to Run It
Cushman & Wakefield has hired Chris Strain as executive director and managing broker of the company's newly-opened Sacramento, Calif., office. A 20-year veteran of commercial real estate, Strain was the co-founder of C. Strain Corporate Real Estate, which...
Feldman Taps Friedman Billings to Evaluate Alternatives
Feldman Mall Properties Inc., which owns seven regional malls with 7 million square feet, is exploring strategic alternatives, which could result in the sale of the Great Neck, N.Y., REIT.The company, run by developer Larry Feldman, went public...
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