Top News - Free (8355)
Aimco Offers for Sale Alexandria, Va., ApartmentsFriday, 31 July 2015 Written by Dan Moynihan
Apartment Investment and Management Co. is offering for sale Riverside Apartments, a 1,222-unit apartment property in the Washington, D.C., suburb of Alexandria, Va. The property is being offered through ARA Newmark and is seen selling for $200 million, which would result in a capitalization rate of roughly 5 percent.
Dallas Office Building Attracting Offers of About $135mlnFriday, 31 July 2015 Written by Dan Moynihan
Cousins Properties Inc. has attracted offers of about $135 million, or $160/sf, for the 843,728-square-foot building at 2100 Ross Ave. in Dallas, one of three office properties that the Atlanta REIT plans to sell. Eastdil Secured has the listing for the property, which last year generated $5.5 million of net operating income.
Singapore Industrial Giant to Buy Industrial Income Trust in $4.55Bln DealThursday, 30 July 2015 Written by Dan Moynihan
Industrial Income Trust Inc., a non-traded REIT sponsored by Dividend Capital Trust, has struck a deal to be acquired by an affiliate of Global Logistics Properties Ltd. in a deal valued at $4.55 billion. The acquisition would mark the second substantial purchase of industrial properties in recent months by Global Logistics.
The estate of SCI Real Estate Investments is offering for sale the ITC Crossing South Shopping Center, a 373,612-square-foot retail property in Flanders, N.J. The property, at 40 International Drive South, could sell for $85 million, or about $278/sf, which would result in a capitalization rate of about 5.9 percent. Colliers International has the listing.
Pru to Buy Office Property at 500 8th St. NW in Washington, D.C.Tuesday, 28 July 2015 Written by Dan Moynihan
Prudential Real Estate Investors has struck a deal to buy 500 8th St. NW, a 325,426-square-foot office building in the East End submarket of Washington, D.C. The Madison, N.J., investment manager is buying the 10-story building from a partnership led by Boston Properties Inc., which is being represented by DTZ.
Canada's Onni Group Said to Be Buyer of Manhattan TowersTuesday, 28 July 2015 Written by Dan Moynihan
Onni Group, a Vancouver, British Columbia, developer, is said to have turned in the winning $93 million bid for Manhattan Towers, a 308,973-square-foot office complex in Manhattan Beach, Calif. Bidding for the property was conducted on the Auction.com platform last week by special servicer CWCapital Asset Management.
UBS Lends $150Mln Against Mall of New HampshireTuesday, 28 July 2015 Written by Dan Moynihan
UBS Real Estate Securities Inc. has provided $150 million of financing against the Mall of New Hampshire in Manchester, N.H. The 10-year loan pays a coupon of 4.11 percent and was used to refinance a $124.4 million loan that was provided in 2008 by Prudential Insurance Co. of America.
AEW Looks to Flex Muscle in Mortgage-Lending ArenaMonday, 27 July 2015 Written by Dan Moynihan
AEW Capital Management is looking to write structured loans against trophy office and high-end apartment properties in the country's 20 top markets. It typically will provide up to 80 percent leverage by combining a senior and mezzanine loan with terms of 10 years or more. Its aim is to build a $2 billion portfolio in the coming two years.
Manhattan Towers, the two-building office complex in Manhattan Beach, Calif., that served as collateral for a $75 million CMBS loan, is said to have attracted a high bid of $93 million. The two-building complex had served as collateral for a $75 million CMBS loan, until it was transferred to its special servicer in a deed-in-lieu of foreclosure in late 2011.
BlackRock Pays $183.91Mln for Washington, D.C.'s Franklin TowerFriday, 24 July 2015 Written by Dan Moynihan
BlackRock Realty Advisors Inc. has paid $183.91 million, or roughly $810/sf, for Franklin Tower, a 227,000-square-foot office property in the East End submarket of Washington, D.C. The New York investment manager purchased the 12-story building, at 1401 Eye St. NW, from Shorenstein Properties.