Top Stories - Free (8002)
Ramco-Gershenson Properties Trust plans to make up to another $350 million of shopping center acquisitions through the remainder of this year. The Farmington Hills, Mich., REIT already has invested $150 million on two acquisitions this year, and has been targeting a full-year acquisition level of up to $500 million.
Rialto Tops Private-Label CMBS B-Piece MarketWednesday, 23 July 2014 Written by Dan Moynihan
A total of nine investors participated in the CMBS conduit B-piece market during the first half of the year, with Rialto Capital Management making investments in more than a quarter of the first-half volume. Eightfold Real Estate Capital, which by this time last year had acquired bonds from seven deals totaling 37.5 percent of the market, so far has bought into only two deals totaling 8 percent of the market.
Boston's Alcion Ventures Raises $194Mln for Latest Investment FundTuesday, 22 July 2014 Written by Dan Moynihan
Alcion Ventures has raised $194 million of a planned $600 million for its third real estate investment fund. The vehicle is a follow-up to the Boston investment manager's Real Estate Fund II, which has invested or committed about 85 percent of the $500 million of equity it raised.
Tuesday, 22 July 2014 Written by Dan Moynihan
Two insurance subsidiaries of American International Group, United States Life Insurance Co. and National Union Fire Insurance Co., have provided $113 million of financing against 330 Hudson St., a 467,000-square-foot office building in lower Manhattan. A 49.3 percent stake in the property recently was sold in a deal valuing the 16-story former warehouse at $304 million.
Investment Program Eyes $320Mln of Office AcquisitionsMonday, 21 July 2014 Written by Dan Moynihan
Palisades Capital Realty Advisors, a Los Angeles investment manager, has launched a program under which it plans to make about $320 million of office-property acquisitions over the next two years. Capital for the investments it's pursuing is coming from its network of high net-worth investors in California's Silicon Valley.
CalSTRS Offers for Sale 1835 Market St. in Downtown PhiladelphiaFriday, 18 July 2014 Written by Dan Moynihan
The California State Teachers' Retirement System is offering for sale 1835 Market St., a 799,994-square-foot office building in downtown Philadelphia. It could sell for roughly $108 million. JLL has the listing.
Thursday, 17 July 2014 Written by Dan Moynihan
Iron Point Partners, an investment manager backed by billionaire Robert M. Bass, so far has raised $267 million of equity commitments for its latest real estate investment fund, Iron Point Real Estate Partners III. The vehicle is a follow-up to its Fund II, which raised $750 million in marketing that ended in 2012.
JPMorgan Lending Group Provides $190Mln Against Boston Office BuildingWednesday, 16 July 2014 Written by Dan Moynihan
A group of lenders led by JPMorgan Chase Bank has provided a $190 million loan against 1 Channel Center, a 500,000-square-foot office property in south Boston. The debt replaces $170 million of construction financing that the lending group provided two years ago.
Brookfield Brings Suburban D.C. Apartment Property to MarketTuesday, 15 July 2014 Written by Dan Moynihan
The Toronto investment manager is offering for sale Meridian at Bowie, a 348-unit apartment property in the Washington, D.C., suburb of Bowie, Md. The property could sell for roughly $90 million, or $258,621/unit. CBRE has the listing.
Spokane, Wash., Office Complex Sells for $52.1MlnMonday, 14 July 2014 Written by Dan Moynihan
A venture that includes Unico Properties and C-III Asset Management has acquired the Rock Pointe Corporate Center office complex in Spokane, Wash., for $52.1 million, or about $93/sf, by buying and foreclosing on a defaulted $60.8 million loan against the 558,838-square-foot property.