HOLMDEL, NJ-Somerset Development's Ralph Zucker says that he expects the medical-related office part of the Town Center plan approved Tuesday night for the former Bell Labs building will be open by mid-year 2014.
BURBANK, CA-A four-story, 34,153-square foot office building has been sold to a local private investor. The building's two major tenants have renewed leases.
SAN DIEGO-The law firm closes nearly $300 million in multifamily loans in the second quarter, but expects a slowdown in Q3 as the market adjusts, Gordon Gerson tells Carrie Rossenfeld.
NEW YORK CITY-Two cities in the S&P/Case-Shiller indices set new highs, while five more posted monthly gains of more than 3%, says S&P Dow Jones’ Blitzer.
WASHINGTON, DC-Currently bank branches are commanding the lowest cap rates of any class of triple net properties. Some, though, are lower than others.
WASHINGTON, DC-All of this talk of rising interest rates has already been absorbed by the market, Winston Orzechowski, research director at Calkain Cos., tells GlobeSt.com's Erika Morphy.
CHICAGO-In this second of a two-part series, HREI's John Mugford discusses a recent healthcare real estate conference in which panelists debated the impact of Obamacare on the sector's commercial real estate development.
FORT WORTH-Upon closing, the Atlanta company will pay north of $1 billion to add the local 980,000-square-foot 777 Main Street and the 4 million-square-foot, four-building Greenway Plaza to its portfolio.
CHICAGO—The online service will launch on August 1, allowing users to search for lease comps by address, tenant and other details.
NEW YORK CITY-The joining of the two communication giants forms the world’s largest advertising agency, valued at more than $30 billion.
NEW YORK CITY-Simon Ziff, president of Ackman-Ziff, talks to GlobeSt.com's Ian Ritter about the best commercial real estate hiring practices in an improving industry.
NEW YORK CITY-The newly merged entity is likely to become a REIT in order to manage its collective assets.
IRVINE, CA-In an UPDATE to an earlier story, Kyle Winning of Steadfast Income REIT tells GlobeSt.com that buyers are still clamoring for both multifamily asset classes.
NEW YORK CITY-Aside from a $1-billion refi on two of the Brookfield Place New York towers, BPO’s biggest news during the second quarter was made in other gateway markets, domestic and international.
LOS ANGELES-Johnson Capital's new division will look for “opportunistic” national development projects in the $20-million to $500-million range.
CHICAGO-At a recent healthcare real estate conference, panelists discussing the state of healthcare real estate note that with Obamacare a certainty, more hospitals and health systems are planning projects. Part one of a two-part series.
NEW YORK CITY-The combined company is expected to have a market cap of about $6.5 billion and a net lease portfolio of 86 million square feet, W. P. Carey said late Thursday afternoon.
LOS ANGELES-In an UPDATE to our earlier story, Jones Lang LaSalle SVP Barry Hill talks about aspects of the firm's recent Seaport Outlook report.
NEW YORK CITY-The new venture, which will focus on mezzanine and bridge loans, expects to generate as much as $1 billion in originations by the end of 2014.
NEW YORK CITY-Little did Jennifer Falk know that she would eventually be director of the Union Square Partnership, but her career has made a huge, interesting arc.
GREENWICH, CT-Totaling nearly $300 million, the funds target properties “all over the US” as well as in New York City, Richman’s Stephen Daley tells GlobeSt.com.
NEW YORK CITY-In this UPDATE to yesterday’s story about the macro economy, three commercial real estate pros tell our readers to stay calm. The sky won’t fall because interest rates rise.
NEW YORK CITY-Proceeds from the convertible senior note offering will be used to pay back debt or acquire more net lease assets, according to an SEC filing.
EB-5 can be a good thing for commercial real estate or a bad thing. You make the decision.
CHICAGO—The Chicago and Texas-based firms join forces to buy thousands of units at Virginia Tech, Penn State and Georgia Southern.
DALLAS-Local apartment research company Axiometrics reports that, at the national level, class C multifamily properties in June continued generating both the strongest annual effective rent and occupancy growth.
MIAMI— Nat Barganier and John Stone of Colliers International Tampa Bay offer insights into how higher interest rates are impacting multifamily sales and development.
CHICAGO-Demand still outstrips supply, leading to a nearly 2% growth in tenant costs over the next five years, according to new data being released by DTZ.
NEW YORK CITY-The new managing director’s background brings “a fresh perspective” to Ackman-Ziff’s joint venture equity business, says CEO Ziff.
PRINCE FREDERICK, MD-At a recent healthcare real estate conference, the locally based healthcare system made a "real-time" announcement about a six-property disposition.
MINNETONKA, MN-According to a recent Marcus & Millichap report, the remainder of the year could see about 10 million square feet of healthcare real estate delivered, a significant increase from 2012.
OAKLAND, CA-The possibility of another interest-rate rise in the wake of QE2 easing might be the cause of some preemptive nail-biting.
NEW YORK CITY-In its SEC filing, the shopping center REIT notes that it has increased same-property occupancy for nine consecutive quarters and total ABR for 20 consecutive months.
NEW YORK CITY-The hedge fund giant’s Stephen Schwarzman says the past three quarters have produced the highest earnings since the company went public six years ago.
INDEPENDENCE, MO— In this EXCLUSIVE to GlobeSt.com, the commercial real estate researcher announces multiyear agreements with CBRE, Colliers and JLL, and takes several giant steps toward building a national platform.
BETHESDA, MD-The CRE financing firm doled out monies for properties throughout the mid-Atlantic and Northeast regions.
NEW YORK CITY-The fund is the first domestic initiative from Rockefeller Group Investment Management and is targeting assets in gateway markets including New York, San Francisco and Washington, DC.
OAKLAND, CA-The possibility of another interest-rate rise in the wake of QE2 easing might be the cause of some preemptive nail-biting.
NEW YORK CITY-In its SEC filing, the shopping center REIT notes that it has increased same-property occupancy for nine consecutive quarters and total ABR for 20 consecutive months.
NEW YORK CITY-The hedge fund giant’s Stephen Schwarzman says the past three quarters have produced the highest earnings since the company went public six years ago.
INDEPENDENCE, MO— In this EXCLUSIVE to GlobeSt.com, the commercial real estate researcher announces multiyear agreements with CBRE, Colliers and JLL, and takes several giant steps toward building a national platform.
BETHESDA, MD-The CRE financing firm doled out monies for properties throughout the mid-Atlantic and Northeast regions.
NEW YORK CITY-The fund is the first domestic initiative from Rockefeller Group Investment Management and is targeting assets in gateway markets including New York, San Francisco and Washington, DC.
INDIANAPOLIS—The number of distressed properties has begun to shrink, RADCO’s Radow says, leaving fewer opportunities to pick up bargains.
NEW YORK CITY-Simon Ziff, president of Ackman-Ziff, talks to GlobeSt.com's Ian Ritter about the best commercial real estate hiring practices in an improving industry.
NEW YORK CITY-Simon Ziff, president of Ackman-Ziff, talks to GlobeSt.com's Ian Ritter about the best commercial real estate hiring practices in an improving industry.
PALMDALE, CA-GlobeSt.com learns EXCLUSIVELY that the firm has arranged a $23.5-million loan for pool of single-family homes that borrower DRI Holdings had assembled over five years.
HOUSTON-What are the most important steps to building a successful succession plan? In this EXCLUSIVE interview, Transwestern’s Larry Heard spells out how his firm covers those bases.
MONTREAL—The firm has partnered with Beaumont Partners to buy and convert a local hotel into an upscale student housing tower.
SAN DIEGO-In an UPDATE to an earlier story, tenants don’t mind having less square footage as long as the amenities are something to write home about, says David Adelman of AREA Real Estate LLC.
IRVINE, CA-Nevada had one of the most dramatic decreases in foreclosure starts last month, thanks in part to new legislation taking effect, RealtyTrac reports in this UPDATE to an earlier story.
WASHINGTON, DC-The two GSEs are steadily pushing out securities backed by multifamily deals.
WASHINGTON, DC-Payments from Fannie Mae and Freddie Mac, plus the sequestration, gave the US Treasury a nice boost for June.
CHARLOTTESVILLE, VA-The wind-down of quantitative easing will have its negative impact investment company activity when it kicks in this fall. In the meantime, SNL Financial sees the sector in a capital-raising “flurry.”
IRVINE, CA-Despite a 34% jump in judicial foreclosure auctions from a year ago, US foreclosure activity decreases 14% in June from the previous month, according to RealtyTrac.
PLYMOUTH, MN-The Chicago buyer pays $58 million for the three-building campus, which has been added to its Core Property Fund.
DALLAS-According to Transwestern CIO Tom McNearey, "As we approach the fifth anniversary of the Lehman Brothers’ collapse and bankruptcy, the question of how to unwind the global tsunami of government stimulus is finally at the forefront of capital markets discussions."
CHICAGO-The announcement of new hires for their industrial group quickly follows several top hires for the Capital Markets group.
CHICAGO—The announcement of new hires for their industrial group quickly follows several top hires for the Capital Markets group.
DALLAS-Going against the trend, the Dallas-based Tenet exercised its option to acquire three hospitals owned by HCP Inc., with closing expected in early 2014.
MINNEAPOLIS-GlobeSt.com's Sule Aygoren has learned EXCLUSIVELY that the leader of NorthMarq’s loan servicing business will leave at year-end, having built the practice from $500 million in 1988 to $41 billion today.
CHICAGO—The fundamentals are improving in most regions, and the firm strongly recommends investing in large distribution centers in major US hubs.
MIAMI—Buyer and sellers are coming closer to the same page after five years of low-yield alternatives. Will they meet in the middle this year?
MIAMI—GlobeSt.com caught up with Randy Banchik, EVP of Los Angeles-based Westwood Financial Corp., to get his take on the challenges and opportunities in this exclusive interview.
NEW YORK CITY-From REBNY’S Deal of the Year award-winner comes a wealth of experience and the sentiment that male, female, young, old, all those in commercial real estate just want to be considered professionals.
NEWPORT BEACH, CA-In an UPDATE to an earlier story, while property values have regained all ground lost during the financial crisis, they remained unchanged in June, according to Green Street Advisors.
IRVINE, CA-As commercial construction flattens and institutional construction declines, housing is the one area where new development spending is rising, Auction.com’s Julie Zisfein tells GlobeSt.com.
WASHINGTON, DC-Mike McNally speaks about what he hopes to accomplish by resigning from the US Chamber of Commerce.
WASHINGTON, DC-In an UPDATE to Tuesday's story, Skanska's Mike McNally tells GlobeSt.com's Erika Morphy that his real beef is with the American High-Performance Building Coalition, which opposes the latest version of LEED.
LOS ANGELES-Institutional Property Advisors national director Brian Murdy predicts more real estate entities will consolidate in the coming months.
NEW YORK CITY-The latest data on apartment rents show that landlords hiked monthly rents an average of 0.7% in the second quarter, a notch above the 0.6% increase posted three months earlier.
CHICAGO—The announcement of new hires for their industrial group quickly follows several top hires for the Capital Markets group.
CHICAGO—The fundamentals are improving in most regions, and the firm strongly recommends investing in large distribution centers in major US hubs.
MIAMI—Buyer and sellers are coming closer to the same page after five years of low-yield alternatives. Will they meet in the middle this year?
NEW YORK CITY-From REBNY’S Deal of the Year award-winner comes a wealth of experience and the sentiment that male, female, young, old, all those in commercial real estate just want to be considered professionals.
NEWPORT BEACH, CA-In an UPDATE to an earlier story, while property values have regained all ground lost during the financial crisis, they remained unchanged in June, according to Green Street Advisors.
IRVINE, CA-As commercial construction flattens and institutional construction declines, housing is the one area where new development spending is rising, Auction.com’s Julie Zisfein tells GlobeSt.com.
WASHINGTON, DC-Mike McNally speaks about what he hopes to accomplish by resigning from the US Chamber of Commerce.
WASHINGTON, DC-In an UPDATE to Tuesday's story, Skanska's Mike McNally tells GlobeSt.com's Erika Morphy that his real beef is with the American High-Performance Building Coalition, which opposes the latest version of LEED.
NEW YORK CITY-The latest data on apartment rents show that landlords hiked monthly rents an average of 0.7% in the second quarter, a notch above the 0.6% increase posted three months earlier.
NEW YORK CITY-CRE investors feel “a fear of the unknown,” says Savills US Dan Gorczycki over the potential impact of Libor’s takeover by NYSE Euronext.
IRVINE, CA-In an UPDATE to an earlier story, median home prices rise and cap rates are positive for most of the cities RealtyTrac found to be retirement hot spots.
NEW YORK CITY-Economist Mark Zandi’s glass is clearly half full, and in his most recent report, he characterizes the positives and the possible derailing events that face us.
IRVINE, CA-Rancho Mirage and Seal Beach, CA, as well as Florence, OR, rank among RealtyTrac’s top 15 retirement hot spots for real estate investing.
IRVINE, CA-The US Census Bureau’s May construction-spending report finds that this indicator has fallen short again, according to Julie Zisfein of Auction.com Research.
WASHINGTON, DC-Thurber's tenure begins as ULI ramps up its building healthy places initiative. We speak with Thurber about this and other goals she has for ULI over the next two years.
WASHINGTON, DC-Bit by bit, unemployment numbers creep down on a monthly basis, as Friday morning's release of US Bureau of Labor Statistics numbers reveals. Still the gains were not enough to move the needle on unemployment rates.
ALPHARETTA, GA-The 36-asset portfolio, spread across 13 states, offered Formation Capital and co-investor Safanad “a rare opportunity” to combine high-quality real estate and operating partners, says CEO Beckwith.
ATLANTA-Piedmont West is proving that even a high-tech, power-hungry medical office building can drive energy efficiency that competes with other building types
NEW YORK CITY-When the deal closes, ARCP will have a 45-million-square-foot net lease portfolio and a pro forma enterprise value of approximately $10 billion.
IRVINE, CA-The new loan center helps buyers and homeowners take advantage of the FHA’s little-known 203k renovation loan program.
SANTA ANA, CA-In an UPDATE to an earlier story, First American Title Insurance Co. releases a mobile version of the myFirstAm application for Android.
LOS ANGELES and TOLEDO, OH-Ares Real Estate Group now counts AREA CEO Lee Neibart as global co-head, while Health Care REIT’s Sunrise deal brings 10,000 senior living units into its fold.
CHICAGO-The Boulder Group has just released a study showing that rates for single-tenant net-leased properties went down in the second quarter.
NEW YORK CITY-In the days since we first posed the question, industry leaders have shared their views on commercial real estate as a leading economic indicator.
SAN FRANCISCO-The locally based firm purchased its partners' 72% interest in Prologis Institutional Alliance Fund II, bringing the entire 4.9-million-square-foot portfolio onto its balance sheet.
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Rate: 11%
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Term: 18 Months
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Amort: Interest Only
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LTC: 70% + $3M rehab
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Non-recourse
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Brokers: Bryan Shaffer
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WASHINGTON, DC-If a group of Senators have their way, this is what mortgage finance reform will look like.
WASHINGTON, DC-Last week a bipartisan group of Senators unveiled a bill that would effectively remake housing finance and dismantle the GSEs. But Congress is awfully active these days.
