Friday, November 30, 2012

Sternlicht: Worries Aside, CRE is Investors' 'Sweet Spot'




National





Sternlicht: Worries Aside, CRE is Investors' 'Sweet Spot'



NEW YORK CITY-Although the potential for overheated markets makes him uneasy, the Starwood Capital Group CEO told conference attendees there are important differences between 2007 and today.








Blackstone Affiliate Buys Apple REIT Six for $1.2B




National





Blackstone Affiliate Buys Apple REIT Six for $1.2B



RICHMOND, VA-The REIT has entered into an agreement to be acquired by BRE Select Hotels Corp.








San Fran Mayor Invests In Neighborhoods, Small Businesses




California





San Fran Mayor Invests In Neighborhoods, Small Businesses



SAN FRANCISCO-The pilot program will provide small businesses with an Americans with Disabilities Act assessment report, a plan for compliance, and access to new grant funding and loan programs to make upgrades.









HFF Arranges Loan for Two Gaslamp District Properties



SAN DIEGO-Holiday Fenoglio Fowler LP has arranged refinancing for two neighboring properties in the Gaslamp District of San Diego.







National





Better Buildings: Top Management Firms



Welcome to the industry's most detailed ranking of Top Property Management Firms.








Berkeley Center Sells for $20M




California





Berkeley Center Sells for $20M



BERKELEY, CA-Newmark Grubb Knight Frank facilitates the sale and financing of the retail and office center to Hill Street Realty LLC.









Brian McAuliffe Rejoins CBRE



LOS ANGELES-McAuliffe will lead the firm's multi-housing investment-sales practice as senior managing director.







National





Construction Numbers Take a Wrong Turn



NEW YORK CITY-The number of stalled development sites locally has crept upward throughout 2012, says the Building Congress; nationally, CPA firm Marcum sees a wide year-over-year gap between residential and nonresidential construction spending.








Thursday, November 29, 2012

Investors Sold on Net-Lease Retail




National





Investors Sold on Net-Lease Retail



The recipe for this successful sector is strong supply and demand. It doesn't hurt either that good returns in other areas aren't as easy
to come by.











The REIT Decision



W.P. Carey's new status as a public REIT will increase shareholder value as the firm sticks to its knitting across the net lease spectrum








Jobs Numbers Increase, MF Demand Shows Slight Decline




California





Jobs Numbers Increase, MF Demand Shows Slight Decline



DALLAS-AXIOMetrics' KC, Sanjay tells GlobeSt.com that the 171,000 jobs added in October beat the forecasted 145,000; despite multifamily sector softening, the market is 70-80 basis points below the historic average.






Bumb & Associates Subsidiary Buys San Jose Airport Garden Hotel




California





Bumb & Associates Subsidiary Buys San Jose Airport Garden Hotel



SAN JOSE, CA-Bay 101 owners have bought the San Jose Airport Garden Hotel near Casino M8trix for more than $20 million.









Hill Street Realty Snaps Up Berkeley Center for $20M



BERKELEY, CA-Hill Street Realty LLC has recently snapped up Berkeley Center, an office and retail property in downtown Berkeley, from a private family trust for $20 million.






Brennan Group, Gatehouse in $178M Industrial Buy




National





Brennan Group, Gatehouse in $178M Industrial Buy



CHICAGO-Some 19 properties around the country are included in the pack, sold by AIC Ventures. Mike Brennan spoke exclusive with GlobeSt.com's John Salustri about the deal, his second major play with Gatehouse.









California





TRI Commercial/Corfac International Gets New President



SAN FRANCISCO-Tom Martindale becomes TRI's first president since 2002. For the past decade, the company was managed by its board, and executive committee.









Syndication of Investments is on the Rise



NEWPORT BEACH, CA-The acceleration of newly formed LLCs, private REITs and venture funds shows that syndicated real estate investments are increasing, say speakers at a recent Sperry Van Ness broker forum.






Wednesday, November 28, 2012

Raintree Partners Acquires $60M Multifamily Community




California





Raintree Partners Acquires $60M Multifamily Community



VENTURA, CA-The firm was attracted to Archstone's Ventura Colony because of its location—it is within walking distance of high-end retail, a block from the entrance to the 101 Freeway.









Law Firms in Driver's Seat in Renter's Market



LOS ANGELES-With the office sector still sluggish, Los Angeles is being dubbed one of the top markets for law firms in the country.







National





Case-Shiller's Rise Signals Housing Rebound



NEW YORK CITY-The quarterly increase in single-family home prices marked the best showing for this metric since the second quarter of 2010, S&P Dow Jones Indices said Tuesday.








Tuesday, November 27, 2012

Richman Group Closes $186M Fund




National





Richman Group Closes $186M Fund



GREENWICH, CT-The properties acquired through USA Institutional Tax Credit Fund LXXXVIII LP will add nearly 1,700 multifamily and senior housing units to Richman's portfolio.











Store Closings Haven't Stopped



There might not be a lot of store closures being announced right now, but that doesn't mean they're not happening says DJM Realty CEO Mark Dufton (above), whose firm is exhibiting next week during ICSC New York in the Hilton's Americas Hall 1 Booth #362.








Equity, AvalonBay Launch Stock Sales to Fund Archstone Buy




National





Equity, AvalonBay Launch Stock Sales to Fund Archstone Buy



NEW YORK CITY-As part of a deal that Lehman's Owen Thomas calls "a very positive outcome for our creditors," the two REITs will provide a combined $3.8 billion in common stock to the estate of the onetime investment banking giant.











RLJ Lodging Secures $700M Credit Facility



BETHESDA, MD-The unsecured credit facility is expandable to $1.2 billion.











Martin, Roberts Take on New Leadership Roles at JLL



CHICAGO-Peter Roberts becomes chief strategy officer while Lauralee Martin takes on the role of Americas CEO.









California





Conceptus Leases 73,000 SF at Murphy Crossing



MILPITAS, CA-Conceptus Inc., a non-surgical birth control device maker, is moving to Milpitas.









Brown and Jordan Leases Retail Space at South Coast Collection



COSTA MESA, CA-South Coast Collection, a 300,000-square-foot retail center in Costa Mesa, is getting new retail tenants.






India Conglomerate Takes Major Interest in Plaza Hotel




National





India Conglomerate Takes Major Interest in Plaza Hotel



NEW YORK CITY-A 75% stake in the Plaza Hotel has gone from foreign hands to foreign hands as Sahara India Pariwar closes its bid on the iconic asset.








Two Caveats to NAR's Growth Forecast




National





Two Caveats to NAR's Growth Forecast



WASHINGTON, DC-The recovery continues, albeit slowly, but the fiscal cliff and Dodd-Frank could throw it off track, NAR economist Jed Smith tells GlobeSt.com's Erika Morphy.











Busi Takes the Reins at C&W's Valuation Unit



NEW YORK CITY-The 31-year Cushman & Wakefield veteran has overseen valuations for more than two decades: first in New York, then the company's Americas practice and, as of Jan. 1, the global platform.









California





JLL Gets Mihalka as New SVP in L.A. Office



LOS ANGELES-Nicole Mihalka will specialize in advising tenants, landlords and investors in the creative office and entertainment sectors in Hollywood and throughout Los Angeles County.









California Bullish on Housing Despite Deficit, Obstacles



LOS ANGELES-Although recession ravaged the state, speakers at a recent Milken Institute Summit say its real estate industry is growing again, particularly in the housing sector.






Monday, November 26, 2012

Shopping Center Auctions Move Past Distress




National





Shopping Center Auctions Move Past Distress



Retail real estate auctions are becoming more common with well-performing assets and not just distressed centers.











Equity, Avalon Bay in $16B Archstone Deal



NEW YORK CITY-Equity is buying 60% of Archstone's assets and liabilities from locally based Lehman Brothers Holdings, while AvalonBay is adding the remaining 40% to its apartment portfolio.








Industrial Asset Fetches $16M for Prism JV




California





Industrial Asset Fetches $16M for Prism JV



CITY OF INDUSTRY, CA-The 216,048-square-foot rehabilitated and renovated building here is sold to an ethnic food wholesaler and distributor.









$52M Loan Goes Towards Mixed-Income Build



SAN JOSE, CA-US Bank and St. Anton Partners finance the construction of a new mixed-income multifamily community at the corner of Raleigh Road and Charlotte Drive here in San Jose.






Guggenheim, Pillar Launch Affordable Platform




National





Guggenheim, Pillar Launch Affordable Platform



NEW YORK CITY-The group will oversee financing of affordable multifamily properties through Fannie Mae, FHA and Guggenheim's proprietary life company capital.











Biderman: Life Appetite for 2013 Retail Starts Now



WASHINGTON, DC-Walker & Dunlop is securing some amazing pricing for grocery-anchored retail. Sandor Biderman tells GlobeSt.com's Erika Morphy why.









California





USC Takes Home NAIOP's Challenge This Year



LOS ANGELES-USC team's winning presentation, which beat out UCLA, focused on development of Olympic Commons, a community-oriented and interactive town center, as its solution to the 2012 challenge.









Avison Young Opens Orange County Office



IRVINE, CA-The firm establishes its 20th market outside of Canada as part of its continuing growth and expansion strategy.






Wednesday, November 21, 2012

TJPA Approves Final $190M Sales Agreement




California





TJPA Approves Final $190M Sales Agreement



SAN FRANCISCO-Construction of the 61-story Tower, which will contain 1.4 million square feet of office space and serve as a beacon for the City's Transit hub in the heart of downtown San Francisco.







National





Design Service Demand Has "Turned the Corner"



WASHINGTON, DC-With three straight monthly increases in the ABI, chief economist Kermit Baker is betting that demand for design services is on an upswing.








Sunstone Benefits from Solid Hotel Demand Trends




California





Sunstone Benefits from Solid Hotel Demand Trends



ALISO VIEJO, CA-The company's Q3 numbers showed a 130-basis-point increase in its comparable hotel EBITDA margin and a 15% increase in its adjusted FFO per diluted share.









Santa Teresa Village Shopping Center Fetches $32M



SAN JOSE-Retail Opportunity Investments Corp. based in Maryland has paid $31.6 million to buy Santa Teresa Village Shopping Center, a 124,792-square-foot retail center in San Jose.









Pro Unlimited to Shift Operations to Iron Point Business Park



FOLSOM, CA-Pro Unlimited is shifting its operations to Folsom from Rancho Cordova.









More New Leases at McClellan Business Park



MCCLELLAN, CA-McClellan Business Park has inked four more leases for a total area of 54,000 square feet.






Bernanke Sees Bright Spots on GDP Horizon




National





Bernanke Sees Bright Spots on GDP Horizon



NEW YORK CITY-In a speech at the New York Economic Club Tuesday, the Federal Reserve chairman warned that "delay and discord" on fiscal policy will aggravate consumer and business uncertainty.









California





City Takes 104,000 SF at 1155 Market St.



SAN FRANCISCO-The San Francisco Board of Supervisors approved the nearly 104,000-square-foot, 10-year lease in a vote earlier in the month.









Buyer Pays Premium for Walgreens Triple-Net



SACRAMENTO-GlobeSt.com learns exclusively that a private seller has sold a freestanding Walgreens building here for $9.238 million.









EVOQ Gains $55M from Non-Core Asset Dispositions



LOS ANGELES-The firm sells nine properties throughout Southern California this year to reinvest in DTLA value-add assets.






Tuesday, November 20, 2012

Multifamily Angst? Home Builder Expectations Reach New Heights




National





Multifamily Angst? Home Builder Expectations Reach New Heights



WASHINGTON, DC-Builder confidence rose five points in November, reaching the highest point since May 2006.









California





CBRE Acquires London Agency



LOS ANGELES-Independent real estate firm EA Shaw becomes part of CBRE Group Inc.'s Central London business.









Renovating Existing Property, Key to Outsized Returns



SAN FRANCISCO-Marcus & Millichap exclusively tells GlobeSt.com that the apartment market here is one of the strongest in the nation and that changes to existing properties can have a significant impact on asking rents and returns.






Cassidy Turley Negotiates New Leases at 10 Almaden




California





Cassidy Turley Negotiates New Leases at 10 Almaden



SAN JOSE, CA-Cassidy Turley has negotiated three new leases at 10 Almaden in San Jose on behalf of owner Equity Office.









Kennedy-Wilson Pays $48M for North Hollywood Office Building



LOS ANGELES-Kennedy-Wilson Holdings Inc. has bought Academy Tower, a 175,012-square-foot office complex in North Hollywood.









EVOQ Properties Sells Two Los Angeles Industrial Buildings



LOS ANGELES-EVOQ Properties Inc., formerly known as Meruelo Maddux Properties, Inc., has sold two industrial facilities in Los Angeles.









DCT Industrial Trust Acquires 563,000-SF Portfolio



LOS ANGELES-DCT Industrial Trust Inc., a Denver-based REIT, has completed the purchase of a four-building industrial portfolio totaling 563,000 square feet in Los Angeles and Chicago.






Interwest Adds 180-Unit Savoy to Portfolio




California





Interwest Adds 180-Unit Savoy to Portfolio



HOUSTON-The California buyer will convert the market-rate multifamily property to a student-housing complex serving University of Houston and Texas Southern University.









CIM, Open Realty Buy 130,000-SF Portfolio



DALLAS-The partners pay Andres Properties $50 million for 28 buildings containing retail, restaurant and commercial space along the Henderson Avenue corridor.









Aimco Breaks Ground on $140M Apt. Rehab



VENICE, CA-The redeveloped Lincoln Place is slated to bring up to 800 jobs, economic development and premier apartment living to this area of Los Angeles.









Greenbuild Roundup: Sustainability Progress, Obstacles



SAN FRANCISCO-The consensus from panels and attendees at Greenbuild 2012 is that strong progress is being made at all levels of the green building industry, but change continues to be evolutionary rather than revolutionary.






Monday, November 19, 2012

Coastal Cities Lead Self-Storage Recovery




California





Coastal Cities Lead Self-Storage Recovery



CALABASAS, CA-Bidding will remain competitive for any new class A listing, which will prompt most investors to pay cash to stave off the competition, says Marcus & Millichap's Michael Hoffman.






Equity Office Sells 201,178-SF Office, R&D Campus




California





Equity Office Sells 201,178-SF Office, R&D Campus



SAN FRANCISCO-An entity owned by funds managed by Westport Capital Partners LLC purchased the property free and clear of existing debt.






MEPT Takes Multi-State Assets for $192M




National





MEPT Takes Multi-State Assets for $192M



WASHINGTON, DC-The company has made acquisitions in the multifamily, retail, industrial and office categories in recent months.








Friday, November 16, 2012

Sonnenblick-Eichner Arranges $112M for Hotel Portfolio




National





Sonnenblick-Eichner Arranges $112M for Hotel Portfolio



BEVERLY HILLS, CA-The non-recourse, first mortgage and mezzanine financing will be for the Cooper Hotel portfolio, an 11-property hotel portfolio totaling 2,130 rooms.









California





Triumph Properties Group Buys Carlsbad Apartment



CARLSBAD, CA-Apartment fundamentals in the North County are extremely strong, says the firm's VP of acquisitions and dispositions.






Thursday, November 15, 2012

Emeryville Public Market Comes Under New Ownership




California





Emeryville Public Market Comes Under New Ownership



EMERYVILLE, CA-San Francisco-based City Center Realty Partners and New York-based Angelo Gordon have teamed up to purchase the Emeryville Public Market in Emeryville.









Pinnacle Hotels Buys Comfort Inn & Suites in Mission Valley



SAN DIEGO-Pinnacle Hotels USA, headquartered in San Diego, has bought Comfort Inn & Suites on Hotel Circle South in Mission Valley.









Sutter Health Signs Office Lease at Mather Field



SACRAMENTO-Sutter Health has inked a new lease for an office space measuring approximately 100,000 square feet at Mather Field.






Wells Fargo, HKS, Riverside Win REmmy Awards




California





Wells Fargo, HKS, Riverside Win REmmy Awards



LOS ANGELES-The Southern California Chapter of CoreNet Global recently held its annual REmmy Awards and Charity Gala, recognizing the best in corporate real estate. Nearly 300 professionals were in attendance.









CIM Group Closes on Apartment Portfolio Sale



SAN FRANCISCO-CIM acquired the apartment portfolio through a deed in lieu of foreclosure transaction and completes the sale of 10 San Francisco apartment properties to multiple buyers for an undisclosed amount.






Urban Partners Adds Executive, Anticipates Growth




California





Urban Partners Adds Executive, Anticipates Growth



LOS ANGELES-Locally-based Urban Partners LLC and Harbor Urban LLC hires David Walker to assist in securing funding for projects, and help grow our portfolio, potentially into additional asset classes.









San Francisco Launches Green Financing Program



SAN FRANCISCO-The program will help the city's estimated 226 million square feet of large commercial buildings become among the country's most energy and water efficient.









Unsecured Market Grows for REITs



SAN DIEGO-A 'massive movement' toward unsecured debt and an aggressive push to enhance balance sheets are major REIT capital markets trends, REITWorld panelists reveal.







National





FTSE, NAREIT, USGBC Develop Groundbreaking Green Indexes



WASHINGTON, DC-The index is launching with 78 REITs, which have varying degrees of LEED certified or Energy Star rated properties in their portfolios, NAREIT's Brad Case tells GlobeSt.com's Erika Morphy.








Wednesday, November 14, 2012

Fitch Gives Freddie Mac CMBS Special Servicer Rating




National





Fitch Gives Freddie Mac CMBS Special Servicer Rating



McLEAN, VA-The rating provides a benchmark against which to compare Freddie Mac's special servicing operations, Freddie Mac's Michael Lipson tells GlobeSt.com's Erika Morphy.








How Much of a Threat Is the Fiscal Cliff?




National





How Much of a Threat Is the Fiscal Cliff?



NEW YORK CITY-Is the fiscal cliff a disaster waiting to happen, or just another end-of-year scare like ancient Mayan predictions or Y2K?









California





Hotel Rex Trades for $29M



SAN FRANCISCO-DiamondRock Hospitality Co. based in Bethesda has paid $29.5 million to buy Hotel Rex, a 94-room hotel located in San Francisco's Union Square district.









Elo Touch Solutions Inks 75,000-SF Lease



MILPITAS, CA-Elo Touch Solutions has inked a lease for an office and research and development space measuring 75,000 square feet in the Murphy Crossing campus.






Developing 'New' SoCal Retail Stores




California





Developing 'New' SoCal Retail Stores



LOS ANGELES-In talking about the assignment to handle project management for the Time Warner Cable's new retail stores, JLL talks about the shift in generational expectations about what a retail experience is supposed to be.









Foreclosures Down to 53,000 in September



IRVINE, CA-The number of completed foreclosures nationwide decreases both year-over-year and month-over-month, according to CoreLogic.









Beachfront Portfolio Lists for $25M



VENICE, CA-GlobeSt.com learns exclusively that an unnamed seller has listed a four-property portfolio here, adding to the spate of activity in the Venice region.







National





Ratiu: Small CRE Borrowers Still Facing Headwinds



WASHINGTON, DC-More than half, 67%, of commercial realtors have had a deal fail because of lack of financing over the last year, NAR's George Ratiu tells GlobeSt.com's Erika Morphy.








Tuesday, November 13, 2012

DiamondRock Buys San Francisco Hotel for $30M




National





DiamondRock Buys San Francisco Hotel for $30M



BETHESDA, MD-This is the REIT's first acquisition in San Francisco.









California





DiamondRock Buys San Francisco Hotel for $30M



BETHESDA, MD-This is the REIT's first acquisition in San Francisco.









JV Forms to 'Attack Affordable Housing'



RIVERSIDE, CA-Springboard Nonprofit Consumer Credit Management Inc. and Money Management International aim to assist 5,000 families by providing affordable housing units in select markets.






Work Begins on Nation's First LGBT-Friendly Senior Project




National





Work Begins on Nation's First LGBT-Friendly Senior Project



PHILADELPHIA-Work has begun on what is being touted as the nation's first urban LGBT-friendly low-income senior housing project. The venture is being developed by the dmhFund and Pennrose Properties.











Leucadia Takes on Jefferies for $2.6B in Stock



NEW YORK CITY-The two firms, which have a working relationship that extends back more than 20 years, have total assets of $42.1 billion and total shareholder equity of $9.3 billion.









California





RPAI Sells Three Value-Add Properties in Texas



OAKBROOK, IL-Retail Properties of American sells the 60,000-SF South Towne Crossing; the 30,000-SF Lake Forest Crossing and the 43,000-SF McDermott Towne Crossing to Westwood Financial.









Echo Boomers Important Multifamily Driver



BEVERLY HILLS, CA-As Echo Boomers transition into the workforce, they are seeking contemporary product in A+ locations, according to Meyers Research.









Car Dealership Goes for $16M



HUNTINGTON BEACH, CA-GlobeSt.com learns exclusively that Howard L. Abel Family Trust sells a 35,076-square-foot car lot currently used as a Ford Motor dealership.






Monday, November 12, 2012

Dwyer-Curlett & Co. Buy Expected to Close Nov. 30




California





Dwyer-Curlett & Co. Buy Expected to Close Nov. 30



LOS ANGELES-The purchase continues Grandbridge Real Estate Capital's geographic expansion into the California market and fully anchors its national footprint on the West Coast, according to the firm.






Annaly Plans CreXus REIT Buyout




National





Annaly Plans CreXus REIT Buyout



NEW YORK CITY-Annaly CEO Wellington Denahan says the $840-million cash acquisition of the balance of CreXus' common stock would be part of her company's strategy to diversify beyond agency MBS.








Three-Acre Site Buy Paves Wave for $250M Build




California





Three-Acre Site Buy Paves Wave for $250M Build



BEVERLY HILLS, CA-Astani Enterprises founder Sonny Astani says 'it is a good time to be an L.A. developer,' as he closes on a $29-million purchase that will soon become 640 apartment units.






Hudson Pacific JV Gains $342M Office Property




California





Hudson Pacific JV Gains $342M Office Property



BURBANK, CA-The Pinnacle, a two-building, 625,640-square-foot asset, is 95% leased to high-quality media and entertainment companies.









Nationwide Home Prices Rise 5% in a Year



IRVINE, CA-The change represents the biggest increase since July 2006 and the 7th consecutive increase in home process nationally on a year-over-year basis, according to CoreLogic.






Office REITs Quietly Posting Stronger Growth




National





Office REITs Quietly Posting Stronger Growth



WASHINGTON, DC-Office REITs' year-to-date returns are far better now than the comparable period in 2011, NAREIT analysis shows.









California





Hudson Pacific JV Gains $342M Office Property



BURBANK, CA-The Pinnacle, a two-building, 625,640-square-foot asset, is 95% leased to high-quality media and entertainment companies.









Nationwide Home Prices Rise 5% in a Year



IRVINE, CA-The change represents the biggest increase since July 2006 and the 7th consecutive increase in home process nationally on a year-over-year basis, according to CoreLogic.






Friday, November 9, 2012

Development: Green, Yes; LEED, Not So Much




National





Development: Green, Yes; LEED, Not So Much



NEW YORK CITY-Turner Construction's survey of owners, developers and corporate occupiers finds more interest in either constructing sustainable properties or doing eco-friendly renovations than in 2010.









California





Cassidy Turley Negotiates Samsung Semiconductor Leases



SAN JOSE-Samsung Semiconductor Inc. has leased and occupied a research and development building measuring 51,151 square foot at 217 Devcon Drive in San Jose.









Ellis Partners Acquires Three Office Buildings



LIVERMORE, CA-Ellis Partners has purchased three office buildings in Livermore and Pleasanton.









Canadian Investors Shell Out $17M for Larkspur Hotel Union Square



SAN FRANCISCO-Farallon Capital Management and Larkspur have sold the last hotel of an 11-hotel portfolio.









Starwest Botanicals Leases at 161 Main Avenue



SACRAMENTO-Starwest Botanicals has leased a warehouse building spanning 117,600 square feet on a six-acre site at 161 Main Avenue in North Natomas.






Avison Young Picks Moore to Run DTLA Retail




California





Avison Young Picks Moore to Run DTLA Retail



LOS ANGELES-The firm brings on Moore as principal in its new downtown office and relocates Chris Cooper from its L.A. West office.






SSTI Completes 1.1M-SF Portfolio Buy




California





SSTI Completes 1.1M-SF Portfolio Buy



LADERA RANCH, CA-The locally based company completes a three-phase acquisition of a 16-property portfolio in South Carolina, Florida and Georgia for a total aggregate purchase price of approximately $75 million.






Thursday, November 8, 2012

Healthcare Shifts Will Alter Space Use




National





Healthcare Shifts Will Alter Space Use



SCOTTSDALE-Efficiency, flexibility and costs were the major topics of conversation for the 350-plus attendees at RealShare Medical Office Buildings.








W.P. Carey Bullish on Q4 Prospects




National





W.P. Carey Bullish on Q4 Prospects



NEW YORK CITY-In a conference call Thursday morning, president and CEO Trevor Bond cited the positive impact on stock liquidity afforded by the company's conversion to REIT status and merger with CPA:15 during the third quarter.









California





K&L Gates Moves into Two-Floor Build-Out



IRVINE, CA-The firm takes the top two floors of the Irvine Co.'s 1 Park Plaza here, complete with marquee signage.






Cassidy Turley Brokers Four Deals in San Diego County




California





Cassidy Turley Brokers Four Deals in San Diego County



SAN DIEGO-Cassidy Turley San Diego has brokered four commercial deals in San Diego County.






Avison Young Picks Moore to Run DTLA Office




California





Avison Young Picks Moore to Run DTLA Office



LOS ANGELES-The firm brings on Moore as principal in its new downtown office and relocates Chris Cooper from its L.A. West office.









Sabal Launches Bridge Lending Program



NEWPORT BEACH, CA-The program, to be directed by James Martin, will provide bridge loans for value-add real estate opportunities.









Majority Stake in 1.7M-SF Mall Changes Hands



BROOMFIELD, CO-GI Partners sells its 75% ownership stake in FlatIron Crossing to its JV partner, Macerich, for $196 million in cash plus the assumption of a pro rata share of the debt of $127 million, GlobeSt.com has learned.







National





JLL Secures Tax-exempt Bond Financing for Association



WASHINGTON, DC-Tax-exempt bond financing is being used to secure financing for a number of projects currently underway.








Wednesday, November 7, 2012

Local Developers, Homebuilders Raise Money for HomeAid O.C.




California





Local Developers, Homebuilders Raise Money for HomeAid O.C.



COSTA MESA, CA-Senior executives from Irvine Co., Rancho Mission Viejo and Ryland Homes and Shea Homes come together to 'fight for a cause' on November 9 here in Costa Mesa.






Port of Long Beach Board Approves New HQ Move




California





Port of Long Beach Board Approves New HQ Move



LONG BEACH, CA-The Port's administrative staff of 350 will move to 4801 Airport Plaza Dr. sometime next year.









HFF Arranges $45M Financing for 15th and Market



SAN DIEGO-Holland Partners Group Management Inc., based in Vancouver, Washington, has secured a $45-million construction and related financing for a mixed-used apartment community in the East Village neighborhood in downtown San Diego.







National





CRE After the Election: Getting Beyond Uncertainty



WASHINGTON, DC-The fiscal cliff, the economy, Congress' approach to taxes. This is what matters to the commercial real estate industry and there are still no hard answers.








MPG Relieved of $700M Debt




California





MPG Relieved of $700M Debt



LOS ANGELES-Expected continued suspension of California's net operating loss tax exemption adds to speculation that the company may sell its office portfolio.









Dwight Hotchkiss Named Colliers' US Brokerage President



LOS ANGELES-The firm promotes the former executive managing director of brokerage services, USA, to president after joining the firm in 2010.






The Never-Ending Search for Yield




National





The Never-Ending Search for Yield



The economy is lackluster at best and the CMBS market is nowhere near its 2006 peak. Yet the capital markets chug along for a very simple reason: scratch every deal, every decision and you will find a desire for yield.











GE At Work, Again



The upheaval of the capital market and real estate environments caused many companies to readjust their strategies, and GE Capital Real Estate was no exception. Yet the firm has emerged again as a major market player-this time, in the debt space.











Forty Under 40



Profiles of some of the industry's rising stars.











The Phoenix Rises



The former investment-management division of Grubb & Ellis Co. formed American Healthcare Investors in late 2011 to co-sponsor and advise Griffin-American Healthcare REIT II, just months before Grubb fell into bankruptcy. Here's how the team has emerged from the ashes and continues to grow in this thriving sector.








Tuesday, November 6, 2012

The Global Services Company Next Door




National





The Global Services Company Next Door



From its roots as a Texas developer to its emergence on the global corporate services scene, Transwestern has remained true to its mantra: Bold Vision/Noble Mission








Just What the Doctor Ordered?




National





Just What the Doctor Ordered?



Healthcare real estate has outperformed other property sectors and proven recession-resistant even through the toughest times and, supported by impressive demographics, its prospects appear bright.








Financial Insomnia




National





Financial Insomnia



A recent GlobeSt.com survey geared toward financial executives asked what keeps them up at night. Many of the respondents shared the same fears.











Pioneering Power



Walker & Dunlop just turned 75 years old, but the company is more nimble than ever after shattering its plan to grow revenues, operating and net income five-fold in five years.











Profile: American Healthcare Investors



The former investment-management division of Grubb & Ellis Co. formed American Healthcare Investors in late 2011 to co-sponsor and advise Griffin-American Healthcare REIT II, just months before Grubb fell into bankruptcy. Here's how the team has emerged from the ashes and continues to grow in this thriving sector.








Blackstone Gets $126M Loan for Office Buy




California





Blackstone Gets $126M Loan for Office Buy



SAN FRANCISCO-Starwood intends to sell the first mortgage in the near term to increase its investment returns while retaining the mezzanine loan on 100 Montgomery.







National





Lexington Boosts FFO, Income; Tightens 2012 Guidance



NEW YORK CITY-The REIT's consolidation of its Net Lease Strategic Asset Fund ownership was key to a major year-over-year improvement in its net operating income profile, Lexington said Tuesday.











Freddie Mac Posts Another Profitable Quarter



McLEAN, VA-The GSE also brought to market its fifteenth multifamily K-Certificates, for $1.2 billion.








Manchester Refinances U-T San Diego's HQ Complex




California





Manchester Refinances U-T San Diego's HQ Complex



SAN DIEGO-Manchester Financial Group, headed by Douglas Manchester, has obtained $27.5 million to refinance the San Diego Union-Tribune's Mission Valley headquarters.









Keire SDA Picks Up Miramar Industrial Building for $10M



SAN DIEGO-Keire SDA LLC has picked up an industrial building in Miramar for $10.2 million.









Carl Berg to Sell 100 Commercial Properties in $1.3B Deal



CUPERTINO, CA-Developer Carl Berg has reached a contract to sell the portfolio of Mission West Properties to a group headed by developer Divco West in a $1.3-billion deal.









Net Lease Investment Strategies Remain Unchanged



LOS ANGELES-Core strategies are not changing dramatically for 2013, say panelists at RealShare Net Lease West.






Cracks in Fundamentals Won't Slow Multifamily




National





Cracks in Fundamentals Won't Slow Multifamily



McLEAN, VA-Freddie Mac and National Multi Housing Council both say apartment growth is strong. Still, it is hard to ignore the slight cracks starting to emerge in the asset class' fundamentals.








Multifamily Still on a Growth Track But for How Long?




National





Multifamily Still on a Growth Track But for How Long?



McLEAN, VA-Freddie Mac and National Multi Housing Council both say apartment growth is strong. Still, it is hard to ignore the slight cracks starting to emerge in the asset class' fundamentals.








Monday, November 5, 2012

Momentum Building in Net Lease Space




California





Momentum Building in Net Lease Space



LOS ANGELES-Panelists at last week's RealShare Net Lease West conference here say low inventory plus low interest rates equals pent-up demand that will fuel deals once properties come online.






Blackstone Gets $126M Loan for Office Buy




California





Blackstone Gets $126M Loan for Office Buy



SAN FRANCISCO-Starwood intends to sell the first mortgage in the near term to increase its investment returns while retaining the mezzanine loan on 100 Montgomery.









Archstone Snatches Luxury Community for $56M



STUDIO CITY, CA-GlobeSt.com learns exclusively that a private investment fund sells the centrally located Studio 40-41 here.









Retail Regains Its Footing



IRVINE, CA-GlobeSt.com's Carrie Rossenfeld catches up with the president of Irvine Co. Retail to discuss the firm's strategic plans for retail and who is bringing excitement to the sector today.







National





CMBS Late Pays See Biggest Drop in 14 Months



NEW YORK CITY-The volume of newly delinquent securitized loans was lower than we saw during September, and was largely offset by the number of cured loans during October, according to Trepp.











Roundtable Survey Reflects an Industry in Waiting



WASHINGTON, DC-The Real Estate Roundtable's Sentiment Index is flat for Q4 as the industry waits for the presidential election results.








Friday, November 2, 2012

Mission West Assets To Fetch $1.3B




California





Mission West Assets To Fetch $1.3B



CUPERTINO, CA-A JV entity sponsored by affiliates of Divco West and TPG Real Estate in exchange for approximately $400 million in cash and $398 million in assumed debts and other obligations.






Western Architecture, Design Firms Merge




California





Western Architecture, Design Firms Merge



SAN FRANCISCO-Mithun and Daniel Solomon Design Partners join forces to create sustainable urban real estate projects.






Stirling Capital Investments Secures $70M Refi Loan




California





Stirling Capital Investments Secures $70M Refi Loan



VICTORVILLE, CA-Bank of America provides the loan, which will be used to pay off maturing debt and facilitate expansion plans for the Southern California Logistics Centre.







National





US Economy Adds 171,000 Jobs in October



WASHINGTON, DC-It is a slightly better number than the average 157,000 jobs added thus far in 2012.








Fed: Demand Grows for CRE Loans




National





Fed: Demand Grows for CRE Loans



WASHINGTON, DC-The survey also suggests that lending standards are showing signs of easing.









California





Essex Picks Up Park West Apts. for $31M



SAN FRANCISCO-The multifamily asset is located next to Golden Gate Park in the Inner Sunset district here.









Health Plan Gains 87,000-SF Office Asset



CHULA VISTA, CA-The non-profit Community Health Group purchases the building for $11.85 million.






Thursday, November 1, 2012

A Sneak Peak into October's Unemployment Stats




National





A Sneak Peak into October's Unemployment Stats



WASHINGTON, DC-ADP has tweaked its job reporting processes to be more similar to the Department of Labor's reports.








City Planners Approve Mixed-Use Project at Pete's Harbor




California





City Planners Approve Mixed-Use Project at Pete's Harbor



REDWOOD CITY, CA-The Palo Alto Daily News reported that plans for a mixed-use project at Pete's Harbor have been approved by Redwood City's Planning Commission.









Atria Senior Living Completes Renovation of Covell Garden



DAVIS, CA-Atria Senior Living has completed a $1.8-million renovation for Covell Garden in Davis.









Target to Build 140,000-SF Store in Alameda



ALAMEDA, CA-Target has purchased 10 acres of land in Alameda with plans to build a new store there.






Major CRE Auctions on Tap Next Week




National





Major CRE Auctions on Tap Next Week



IRVINE, CA-Auction.com is hoping to keep up the commercial real estate transaction momentum it has seen earlier in the year with a $450 million auction.









California





Hendricks' Apartments Party Bowls Over



LOS ANGELES-Hendricks & Partners' pre-conference cocktail party at L.A. Live Lucky Strike Bowling Lanes, hosts more than 150 clients and peers.