Institutional investors including pension funds, private equity funds, hedge funds, life companies, REITs, endowments, sovereign wealth funds and other players with large pools of investable capital are taking new chances to boost their yields....More
Two companies are making a significant investment in the country’s largest southern industrial market. CT Realty Investors and Xebec Realty Partners, both based in California, have acquired a 530-acre site in the South Dallas Intermodal Hub and plan up to 9 million sq. ft. of new buildings....More
Harrison Street Real Estate Capital acquired seven class-A seniors housing properties located throughout Nassau and Suffolk County on Long Island in New York....More
The portfolio is 90 percent leased to Wells Fargo Bank. Properties included in the sale are located in eight states, including North Carolina, South Carolina, Virginia, Florida, New Jersey, Pennsylvania, Maryland and Georgia....More
Construction on SkyHouse Houston, an Energy Star-rated 24-story luxury apartment high-rise at 1625 Main Street in the Central Business District of Houston, is set to proceed in April....More
The centers carry a collective vacancy rate of 8.8 percent and are all anchored by supermarkets, including two Publix stores and three Winn-Dixie stores....More
Previously, the asset carried a $50.3 million loan with an interest rate of 5.12 percent. Rouse received approximately $13.4 million in net proceeds from the transaction, after closing and defeasance costs....More
MPG Office Trust Inc. has entered into an agreement with an affiliate of Overseas Union Enterprise Ltd. to sell U.S. Bank Tower and Westlawn Garage, each located in Downtown Los Angeles, for $367.5 million....More
Building Owners and Managers Association of Chicago is attempting to bring the city’s downtown further into the 21st century with smart grid technology by using wireless meters that can, in real-time, negotiate for hundreds of thousands of dollars in savings of electricity with energy companies....More
USGBC's Chris Pyke talks about GBIG and the FTSE NAREIT USGBC U.S. Green Real Estate Index about providing greater understanding, transparency and trackability when it comes to green properties....More
Investor interest in net leased retail assets remains high, in spite of falling cap rates, according to market reports from several different sources....More
Morningstar researchers estimate that there are approximately 262 unpaid CMBS loans that are secured by properties where J.C. Penney is one of the three anchor tenants. The department store chain occupies 100 percent of GLA at four of the properties on the list, 50 percent of GLA at 13 properties and approximately 26 percent of GLA at 95 properties....More
In Chicago, Prudential provided a $300 million loan for 155 North Wacker, a 1.15-million-sq.-ft. office tower in the city’s West Loop submarket. The loan features a fixed interest rate and a 10-year term. The property, which was developed in 2009, is currently 94.6 percent leased....More
Cole Credit Property Trust III Inc. (CCPT III) announced that it has executed a definitive merger agreement to acquire Cole Holdings Corp., a real estate investment management firm with more than $12 billion of assets under management....More
Debt overhang leads to lower growth and inefficient allocations and decisions for a myriad of reasons. Cautionary parallels can be drawn between firm and sovereign financial distress....More
Private equity investors may be deploying different strategies, but their end game is the same. They all want higher yields in what remains a highly competitive market....More
Minneapolis may have been hit by downsizing at two of its largest companies recently, with 400 jobs to be cut at Best Buy and Supervalu selling off much of its business to Cerberus Capital Management, but the Twin Cities office market shouldn’t face too much change due to its diversification....More
Clarice Clarke was named president of Lee & Associates – Central Coast, which includes the Santa Barbara, San Luis Obispo and Santa Maria offices in California....More
There has been $30.3 billion in new CMBS issuance to date in 2013, according to Commercial Mortgage Alert. That puts the industry on pace to smash last year’s volume of $48.4 billion and will make 2013 the busiest year for CMBS issuance since 2007. Where do you think total CMBS issuance volume will end up in 2013?