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News

RREEF America Jumping into New-Fangled REIT Arena

March 29, 2012

Costar… Possibly just weeks away from being sold, RREEF America LLC isn’t sitting around waiting to find out who its new owner is. The leading real estate investment manager is planning to form a new REIT to be called RREEF America Property Income Trust Inc. and hold an initial public stock offering to raise up to $2.5 billion. The new property income REIT will invest primarily in properties, but also in real estate debt and publicly traded REIT stocks, although… Go here to see the original: RREEF America Jumping into New-Fangled REIT Arena Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Bahrain-based Arcapita Bank Files Ch. 11, Protecting $2 Billion in U.S. Properties

March 29, 2012

Costar… Arcapita Bank BSC, an international investment firm based in Bahrain, put itself and some of its affiliates into Chapter 11 bankruptcy reorganization in the United States. Included in the Chapter 11 filings is Arcapita Investment Holdings Ltd., which controls a $2.37 billion portfolio of investments in real estate, private equity and venture capital, and infrastructure. Its largest U.S. real estate holdings include: Arcapita US Residential… Original post: Bahrain-based Arcapita Bank Files Ch. 11, Protecting $2 Billion in U.S. Properties Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Real Estate, Restaurant Franchise Growth Starting To Heat Up

March 29, 2012

Costar… There are signs of an improved outlook in certain economic areas where franchises are traditionally strong performers, such as the restaurant and business and personal services industries, according to the International Franchise Association (IFA) and GE Capital Franchise Finance. The IFA released its first quarterly update to its economic outlook prepared by IHS Global Insight in December 2011. IFA is updating its Franchise Business Economic Outlook… Read more: Real Estate, Restaurant Franchise Growth Starting To Heat Up Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Goodrich Corp Inks 105,000-SF Office Lease

March 28, 2012

Costar… Goodrich Corporation, a supplier of aerospace and defense products, signed a 104,662-square-foot lease at 2727 E. Imperial Hwy. in Brea, CA. The company is relocating and consolidating its two facilities in Monterey Park and Diamond Bar. The 104,662-square-foot office property is situated on 5.4 acres within the Brea Imperial Center in Orange County. With the addition of Goodrich, the center is now 100 percent occupied. Liz Hurley with Transwestern… View post: Goodrich Corp Inks 105,000-SF Office Lease Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Rockpoint Trades Parc 55 Wyndham for $235 Million

March 28, 2012

Costar… Rockpoint Group LLC sold Parc 55 Wyndham at 55 Cyril Magnin St. in San Francisco to New York-based The Blackstone Group for $235 million, or $231,984 per room, in a distress sale. The 700,985-square-foot hospitality building is located blocks from Union Square. The property includes 1,013 rooms and was awarded an Energy Star label for the last four years consecutively. No brokers were mentioned. Please reference CoStar COMPS #2279499 for more… Go here to read the rest: Rockpoint Trades Parc 55 Wyndham for $235 Million Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Wood Partners Sells Annapolis Multifamily for $68M

March 28, 2012

Costar… Wood Partners sold 1901 West St. in Annapolis, MD, to Pantzer Properties for $68 million or $226,667 per unit. The 300-unit multifamily building was built in 2006 and includes 19,211 square feet of fully leased retail space on the ground floor. Freddie Mac provided a $52 million acquisition loan. Dave Nachison, Alan Davis and Brenden Flood of HFF represented the seller. The buyer had no representation. Please see CoStar COMPS #2276642… See the article here: Wood Partners Sells Annapolis Multifamily for $68M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CapLease Receives 1M-SF Nestlé Renewal

March 27, 2012

Costar… CapLease, Inc. (NYSE: LSE) executed a lease renewal with Nestlé Holdings, Inc. for its 1,045,153-square-foot industrial property at 555 Nestle Way in Macungie, PA. The lease will commence on January 1, 2013 for a term of five years. Contract rent is $4.40 per square foot, increasing 3% per annum. Nestlé’s distribution building was constructed in 1994 on 86 acres in the Lehigh Valley Industrial submarket of Philadelphia. CapLease… Read more: CapLease Receives 1M-SF Nestl

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In The Pipeline: CoStar Development & Construction News for March 25 – 31

March 27, 2012

Costar… In The Pipeline is a column on significant acquisitions of commercial land for sale , and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Architects Report Higher Billings For 4th Straight Month The Link: In The Pipeline: CoStar Development & Construction News for March 25 – 31 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Holliday, Fenoglio Lead Veteran Team to CBRE

March 26, 2012

Costar… CBRE recruited Harold E. (Hal) Holliday, John T. Fenoglio, David M. Aaronson and James M. Richards Jr. as executive vice presidents. The brokers will serve in the mortgage brokerage’s debt and equity finance group in Houston. The team previously worked at Grandbridge Real Estate Capital. Holliday has nearly four decades in mortgage brokerage and co-founded Holliday Fenoglio. After HF’s acquisition by Amresco 18 years ago, he successfully led the… Visit link: Holliday, Fenoglio Lead Veteran Team to CBRE Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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CoStar’s People of Note (March 18-24)

March 23, 2012

Costar… This week’s People of Note includes the following markets: Charlotte, Chicago, Dallas/Fort Worth, New York City, Retail, San Francisco and South Florida. DALLAS/FORT WORTH Local Investment Sales Broker Moves to Cushman & Wakefield By CoStar Research Scot Farber joined Cushman & Wakefield in Dallas where he will focus on the sale of office and industrial properties as part of the firm’s investment sales group. Farber, Read more from the original source: CoStar’s People of Note (March 18-24) Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Path Cleared For Bankruptcy Court Approval of Grubb & Ellis Sale

March 22, 2012

Costar… Grubb & Ellis Co. has canceled a bankruptcy auction to sell off its assets, leaving BGC Partners, LP as the only bidder and clearing the way for a court hearing on Thursday to approve the sale. Santa Ana, CA-based Grubb & Ellis filed for bankruptcy protection on Feb. 20 and entered into a letter of intent in which BGC Partners, acting as a stalking horse buyer, acquired the brokerage’s outstanding secured debt and submit the minimum bid to acquire… See more here: Path Cleared For Bankruptcy Court Approval of Grubb & Ellis Sale Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Lodging Sales Surge As ‘Unprecedented’ Hotel Market Run Unfolds

March 22, 2012

Costar… The U.S. lodging industry, benefitting from two years of sporadic recovery, should continue to enjoy gains in occupancy and pricing power through 2014, with rising profits luring greater levels of investment, according to a series of hospitality reports and outlooks released over the last few days. PKF Hospitality Research, LLC predicted this week that revenue per available room (RevPAR) for U.S. hotels will rise 5.8% in 2012, the result of solid… Link: Lodging Sales Surge As ‘Unprecedented’ Hotel Market Run Unfolds Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Archstone Trades Crystal City Multifamily for $175M

March 21, 2012

Costar… Archstone sold the 13-story Buchanan apartment building in Arlington, VA, to Dweck Properties, a Washington, DC-based management investment for $175 million, or about $395,928 per unit. The 579,000-square-foot, 442-unit multifamily complex delivered in 1971 at 320 23rd St. in Crystal City. It consists of 510,000 square feet of apartment space and 23,000 square feet of retail, according to CoStar information. Transwestern represented the buyer… See more here: Archstone Trades Crystal City Multifamily for $175M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Baker Donelson Bldg in Downtown Nashville Sells for $47.1M

March 21, 2012

Costar… Sun Life Financial Services, an international financial services company, has acquired the 11-story Baker Donelson Building at 211 Commerce Ctr. in downtown Nashville, TN from The Mathews Company in a transaction totaling $47.13 million, or approximately $205 per square foot. The property was constructed in 2000 and totals 229,536 square feet of Class A office space . The building was 93.8 percent occupied at the time of the sale, and is currently… Read the original: Baker Donelson Bldg in Downtown Nashville Sells for $47.1M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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In The Pipeline: CoStar Development & Construction News for March 18 – 24

March 20, 2012

Costar… In The Pipeline is a column on significant acquisitions of commercial land for sale , and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Developer Breaks Ground on Mixed-Use in South Florida Stiles… Read the original post: In The Pipeline: CoStar Development & Construction News for March 18 – 24 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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3PL Global Inks 270,764-SF Deal in Carson

March 20, 2012

Costar… In one of the largest industrial deals during the first quarter, 3PL Global LLC signed a 270,764-square-foot full-building lease at 2211 E. Carson St. in Carson, CA, in the ProLogis South Bay Distribution Center. ProLogis developed the LEED Silver spec project known as Building 5 last year. It is on 12.4 acres about 20 miles south of downtown Los Angeles. The third-party logistics provider is currently headquartered at Airport Corporate Center… View original post here: 3PL Global Inks 270,764-SF Deal in Carson Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Transwestern Forms Global Alliance with BNP Paribas Real Estate

March 20, 2012

Costar… BNP Paribas Real Estate has strengthened its presence in the U.S. by signing an alliance agreement with Transwestern. The alliance agreement covers the transaction, valuation and corporate real estate consulting business lines and provides both firms the ability to provide real estate and transactional services for clients in 181 cities in 30 countries – 150 where BNP Paribas Real Estate is located and 31 where Transwestern is present. Bernard… See more here: Transwestern Forms Global Alliance with BNP Paribas Real Estate Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Distressed Sales Volume Remains at Elevated Levels Despite Big Boost in Non-Distressed Sales in Recovering Economy

March 15, 2012

Costar… Distressed trading volume has stabilized but continues to remain at elevated levels, increasing by approximately 2% last year over 2010. However, a surge in non-distressed property trading driven by improving economic conditions has begun to mitigate its impact on commercial real estate pricing levels overall. According to CoStar Group data, the volume of distressed transactions in December 2011 remained well above the average monthly volume for… See the original post here: Distressed Sales Volume Remains at Elevated Levels Despite Big Boost in Non-Distressed Sales in Recovering Economy Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Investors See Good Prognosis for Health-Care Real Estate Despite Market Uncertainty

March 15, 2012

Costar… The health care industry and its real estate providers are literally caught between two eras as the 2012 elections and a key U.S. Supreme Court decision that will determine the future of health-care reform play out against the backdrop of a strengthening, yet far from robust, economic recovery. Richard Taylor, managing director with Jones Lang LaSalle’s Healthcare Solutions Group, said three key pressures are contributing to the current environment… Go here to read the rest: Investors See Good Prognosis for Health-Care Real Estate Despite Market Uncertainty Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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PG&E’s Inks 250,000-SF Office Lease in San Ramon

March 14, 2012

Costar… Pacific Gas and Electric plans to move the majority of its gas operations to Bishop Ranch, a 585-acre business community in San Ramon, CA. The utility supplier finalized a 10-year lease for 250,000 square feet of office space at 6121 Bollinger Canyon Road. Built in 2003, Building Z is a five-story, 250,000-square-foot office building in in the East Bay/Oakland market. Sunset Development Co. owns the LEED Gold certified property. Bishop Ranch… Read more here: PG&E’s Inks 250,000-SF Office Lease in San Ramon Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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