Top News - Free (8695)
Three Ravinia in Atlanta Seen Coming to MarketThursday, 29 September 2016 Written by Dan Moynihan
CBRE Strategic Partners U.S. Value 6 fund is preparing to offer for sale the 816,234-square foot Three Ravinia Drive office property in Atlanta. The property, in the city's central perimeter market, was placed on the sales block last year, but a deal never materialized.
MetLife, New York Life Lend $177.8Mln Against Sanctuary Park Near AtlantaWednesday, 28 September 2016 Written by Dan Moynihan
The life insurance companies provided $177.8 million of mortgage financing against the 1.6 million-square-foot office property in the Atlanta suburb of Alpharetta, Ga. It consists of $92.2 million of fixed-rate debt that matures in October 2026 and $85.6 million of floating-rate debt that matures in October 2021. The floating-rate debt can be extended for an additional year.
Uncertainty in Condo Market Puts Brakes on Sale of Manhattan Development SitesTuesday, 27 September 2016 Written by Dan Moynihan
The velocity of residential development-site sales in New York City has slowed sharply. The amount of time it takes to sell individual units has increased, so developers have become skittish about paying ever-increasing prices for land on which to develop new units.
Monday, 26 September 2016 Written by Dan Moynihan
Hines Global REIT II has struck a deal to pay $190 million, or about $317/sf, for Rookwood Commons and Rookwood Pavilion, two neighboring retail properties with 600,071 square feet in Cincinnati. A venture of JPMorgan Asset Management and Casto Lifestyle Properties is the seller.
Glendale, Calif., Office Building Seen Selling for $128.53MlnFriday, 23 September 2016 Written by Dan Moynihan
PGIM Real Estate has struck a deal to sell the 408,034-square-foot Glendale City Center office complex in Glendale, Calif., for $128.53 million, or about $315/sf. Beacon Capital Partners is buying the property, which is about 90 percent occupied.
Boston-Area Mall Backing $64.5Mln CMBS Loan Hits Sales MarketFriday, 23 September 2016 Written by Dan Moynihan
RP Realty Partners is offering for sale the Walpole Mall, a 402,206-square-foot retail property in Walpole, Mass. Colliers International has the listing for the suburban Boston property, which is encumbered by $64.5 million of debt that's securitized in two CMBS deals. The property could sell for more than $100 million.
REIT Issuance of Unsecured Notes on Record PaceThursday, 22 September 2016 Written by Dan Moynihan
So far this year, REITs have issued $28.6 billion of unsecured notes, making it all but certain that issuance for the full year will top the $30.6 billion record set two years ago. Driving issuance: historically low interest rates and a group of new issuers, many of which were formed only recently.
233 Wilshire in Santa Monica, Calif., Seen Selling for $139.5MlnWednesday, 21 September 2016 Written by Dan Moynihan
Blackstone Group has struck a deal to sell a 128,935-square-foot office property at 233 Wilshire Blvd. in downtown Santa Monica, Calif., a suburb of Los Angeles. Douglas Emmett Inc., a Santa Monica, Calif., REIT, is buying the property, which is expected to sell for $139.5 million, or about $1,082/sf. HFF is brokering the deal.
1,984-Unit Apartment Portfolio in Baltimore Offered for SaleTuesday, 20 September 2016 Written by Dan Moynihan
Harbor Group International is offering for sale a portfolio of six apartment properties with 1,984 units in the Woodlawn area of Baltimore. The portfolio would be valued at about $256 million, based on the $16.1 million of net operating income it generated last year and the area's prevailing capitalization rate of 6.3 percent for garden-style apartments. JLL has the assignment.
Monday, 19 September 2016 Written by Dan Moynihan
A deal in which Talon Real Estate Holding Corp., a small Minneapolis property investor, had to buy a portfolio of 13 Minnesota industrial and flex properties from Greenfield Partners has fallen apart. The portfolio totals 915,693 sf and comprises the Minneapolis-area properties that Greenfield had purchased three years ago from Liberty Property Trust.