Top News - Free (8573)
Piedmont Aims for Up To $1Bln of Property Sales Through 2019Wednesday, 04 May 2016 Written by Orest Mandzy
The Atlanta-area office REIT is planning to increase its pace of dispositions as it continues to reposition its portfolio. It might plow proceeds into properties in markets that might not yet have been picked over by investors and still have the potential for strong growth. But it expects to be a net seller this year.
Camden Property Sees Selling Another $600Mln of Properties This YearTuesday, 03 May 2016 Written by Dan Moynihan
Camden Property Trust, which last week completed the sale of its Las Vegas holdings for $630 million, expects to sell up to another $600 million of properties this year as it continues to upgrade its portfolio of apartment properties. It's looking to sell its older properties, which while enjoying substantial increases in income, require more attention than its newer properties.
Monday, 02 May 2016 Written by Dan Moynihan
Aareal Capital Corp. has provided $133 million of mortgage financing against the Park Square Building, a 495,708-square-foot office property in Boston's Back Bay area. The loan was used to retire $95 million of CMBS debt that became open to prepayment last month.
TIAA Lends $320Mln Against Kansas City Office, Retail PropertyFriday, 29 April 2016 Written by Dan Moynihan
The 10-year loan, which pays a coupon of 3.88 percent, requires only interest payments for three years, after which it amortizes over a 30-year schedule. Country Club Plaza, with 1.27 million square feet, is owned by a venture of Taubman Centers Inc. and Macerich Co., which recently acquired it for $660 million, or about $519/sf.
Boston Properties Eyes Refinancing Debt Against Manhattan's GM BuildingThursday, 28 April 2016 Written by Dan Moynihan
The Boston REIT will soon be in the market to refinance the loan that is secured by the 1.8 million-square-foot office building at 767 Fifth Ave. in midtown Manhattan. The existing debt, a $1.3 billion senior loan and $306 million of mezzanine financing, comes due in October 2017. The 48-year-old property is 98.5 percent leased.
CMBS Issuers React to Improved Market Tone with 3 Conduit DealsWednesday, 27 April 2016 Written by Dan Moynihan
CMBS issuers have teed up three conduit deals in an effort to take advantage of market conditions that have become far more favorable in recent weeks. Spreads for newly issued conduit deals have improved substantially recently, while investor demand is said to have improved markedly.
American Campus Aims to Sell $600Mln of Student Properties This YearTuesday, 26 April 2016 Written by Dan Moynihan
American Campus Communities has begun the process of selling as much as $600 million of non-core properties this year. It's already sold two properties and will use proceeds to fund its sizable pipeline of developments. The expectation is that the properties that it's teeing up for sale will fetch prices resulting in cap rates of 6-6.25 percent.
Monday, 25 April 2016 Written by Dan Moynihan
A venture of Federal Capital Partners and Ross Cos. is offering for sale a portfolio of seven garden-style apartment properties with 2,895 units in the Maryland suburbs of Washington, D.C. The properties, in Prince George's County, are being offered through CBRE, which will take bids for individual properties or the portfolio in its entirety.
Bank of China Lends $310Mln for Construction of Cambridge, Mass., Lab/OfficeFriday, 22 April 2016 Written by Orest Mandzy
The Bank of China has provided $310 million of construction financing for a 431,483-square-foot laboratory and office property that Alexandria Real Estate Equities Inc. is developing at 100 Binney St. in Cambridge, Mass. Part of the property already has been leased to Bristol-Myers Squibb Co.
Manhattan Office Building Teed Up for SaleThursday, 21 April 2016 Written by Dan Moynihan
The venture that owns 127 West 25th St., a 104,000-square-foot office building that's net leased to the Bowery Residents' Committee, is getting ready to list it for sale. It's in the process of selecting a broker. Part of the property serves as a homeless shelter under a city contract that runs through 2021.