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Friday, 19 September 2014 Written by Dan Moynihan
The San Francisco investment manager has struck a deal to pay roughly $203 million, or $185/sf, for 1818 Beneficial Bank Place, a 1.1 million-square-foot office building in downtown Philadelphia. Sovereign Capital Management Group Inc. of San Diego is selling the 37-story property at 1818 Market St.
Invesco Fund Raises $125Mln of $500Mln TargetFriday, 19 September 2014 Written by Dan Moynihan
Invesco Real Estate has raised $125 million of equity commitments it's seeking for an investment fund targeting all commercial property types in major markets across the country. The targeted size of its Invesco U.S. Value-Added Fund IV is $500 million, but the company is open to accepting up to $750 million for it.
CWCapital Seen Offering $400Mln of AssetsThursday, 18 September 2014 Written by Dan Moynihan
The buzz is that the Bethesda, Md., company is preparing what could be about $400 million of loans that it would sell through CBRE's capital markets group. It would be the second sizable offering in recent weeks for CWCapital, which is sewing up the sale of some $232 million of loans it previously offered through CBRE.
Silverpeak Lends $172Mln Against Atlanta Office, Retail ComplexWednesday, 17 September 2014 Written by Dan Moynihan
Silverpeak Real Estate Finance has provided $172 million of floating-rate financing against the Peachtree Center, a 2.5 million-square-foot office and retail complex in downtown Atlanta. The two-year loan was used to retire a $207.6 million mortgage that was modified four years ago.
Cornerstone to Pay $195Mln for Downtown L.A. Office BuildingTuesday, 16 September 2014 Written by Dan Moynihan
Cornerstone Real Estate Advisers has agreed to pay $195 million, or about $425/sf, for the 458,149-square-foot 801 Tower office building in Los Angeles. The pending transaction will result in the defeasance of a $120 million mortgage against the property that's securitized through Citigroup Commercial Mortgage Securities, 2006-C5.
Shorenstein to Sell 2 Boston Office Properties for $287MlnTuesday, 16 September 2014 Written by Dan Moynihan
Shorenstein Properties is selling 399 Boylston St. and Seaport Center in Boston in separate deals totaling $287 million. The San Francisco investment manager is selling the properties on behalf of two funds it manages. It bought the properties for a combined $200.8 million.
Largest Office Property in Bethesda, Md., Hits Sales MarketMonday, 15 September 2014 Written by Orest Mandzy
A venture of MRP Realty and Rockpoint Group Inc. is offering for sale Bethesda Crossing, with 700,000 square feet of office space in the Washington, D.C., suburb of Bethesda, Md. The property, the largest office property in
JPMorgan Offers $50Mln Loan Against Historic Boston-Area ComplexMonday, 15 September 2014 Written by Orest Mandzy
JPMorgan Asset Management is offering a $50 million mortgage against the
Friday, 12 September 2014 Written by Dan Moynihan
A venture of NorthStar Realty Finance and Redico has agreed to pay Koman Cos. $142 million, or about $161/sf, for the CityPlace Campus, an 884,308-square-foot office complex in the St. Louis suburb of Creve Coeur, Mo. The property backs a $112.7 million CMBS loan whose term was extended through next month as part of a loan modification.
Cantor Lends $145Mln Against Manhattan Office BuildingThursday, 11 September 2014 Written by Dan Moynihan
Cantor Commercial Real Estate has provided $145 million of financing against 80-90 Maiden Lane, a 583,746-square-foot office property in lower Manhattan, allowing an $82.6 million CMBS loan to get defeased, or replaced with government securities.