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Brandywine Hires CBRE to Market for Sale Richmond, Va., Office PortfolioFriday, 22 May 2015 Written by Dan Moynihan
Brandywine Realty Trust has hired CBRE to market for sale a portfolio of five office properties with 734,277 square feet in the Richmond, Va., area. The portfolio, which CBRE refers to as the Northwest Quadrant Office portfolio, is projected to generate $7.7 million of net operating income next year. Brandywine, a Radnor, Pa., REIT, carries the five properties on its balance sheet at a value of $91.9 million.
Thursday, 21 May 2015 Written by Dan Moynihan
AEW Capital Management has struck a deal to pay $248 million, or a record $539/sf, for Phillips Point, a 460,290-square-foot office property in downtown West Palm Beach, Fla. The transaction would be the biggest-ticket sale in the city, which is enjoying a drop in vacancy and increase in rents. The property's being acquired from Colonnade Properties.
2 Suburban Philadelphia Apartment Properties Offered for SaleWednesday, 20 May 2015 Written by Dan Moynihan
Two apartment complexes that were developed on the site of a long-ago shuttered industrial property near Philadelphia are being offered for sale by their owners. Milestone Group has tapped CBRE to sell Riverview Landing, with 310 units, while O'Neill Properties Group has hired Cushman & Wakefield to sell Lofts at Valley Forge. Both are in Eagleville, Pa.
Equus Offers for Sale Madison Vinings Ridge Apartments in AtlantaTuesday, 19 May 2015 Written by Dan Moynihan
Equus Capital Partners Ltd. is offering for sale Madison Vinings Ridge, a 494-unit apartment property in the Vinings submarket of Atlanta that it had acquired in 2008. The property, which is owned by a fund the Philadelphia investment manager sponsors, is being offered through CBRE and could sell for as much as $80 million.
LoanCore Capital Tapping Public Markets for EquityMonday, 18 May 2015 Written by Dan Moynihan
LoanCore Capital is going the public-markets route to raise equity that it would use to fund mortgage originations. The company, founded by Mark Finerman in 2008, will continue to be part-owned by GIC Pte. Ltd. Its public offering would give it a permanent-capital structure, and allow it to diversify its investor base.
Investment Manager Taps Crowdfunding for Fund's EquityFriday, 15 May 2015 Written by Dan Moynihan
Investment manager Olympus Property is using an Internet crowdfunding platform to raise $18.4 million of the roughly $50 million of equity targeted for a fund that will pursue apartment properties in the Sunbelt.
Thursday, 14 May 2015 Written by Dan Moynihan
Wilkinson Real Estate Advisors Inc. is offering for sale a portfolio of four apartment properties in the Atlanta area with 1,420 units. The Atlanta company has hired CBRE to market the portfolio, which could sell for $140 million, or roughly $98,592/unit. That would result in a capitalization rate of about 6 percent.
FHFA Exceptions Seen Adding $5Bln of Lending to Each Agency's VolumeThursday, 14 May 2015 Written by Dan Moynihan
Fannie Mae and Freddie Mac might very well be able to exceed the multifamily origination caps set by the Federal Housing Finance Agency by more than $5 billion each, thanks to exclusions the regulator put in place. The exclusions give the agencies credit for pieces of their loans tied to units that fall into the affordable category.
Boston Properties Venture Offers Trophy Washington, D.C., Office BuildingWednesday, 13 May 2015 Written by Dan Moynihan
A partnership led by Boston Properties Inc. is offering for sale 500 8th St. NW, a 325,426-square-foot office building in the East End submarket of Washington, D.C. The venture has tapped DTZ to market the eight-year-old property, which could see a sales price of $1,000/sf, or just more than $325 million.
MAA Plans $500Mln of Acquisitions This YearTuesday, 12 May 2015 Written by Dan Moynihan
Mid-America Apartment Communities Inc. has paid $46.5 million, or $156,040/unit, for the 298-unit Residences at Burlington Creek apartment complex in Kansas City, Mo. - the first of what the REIT expects will be up to $500 million of acquisitions this year.