Regions West
Behringer Harvard REIT Makes Another Big M-F Splash in California
Sep 30, 2009
Behringer Harvard Multifamily REIT I recently made what was then 2009’s
largest California multi-family acquisition with an $80 million
purchase of Waterford Place Apartment Homes near the Bay Area. This
week, the REIT topped that with the $96 million purchase of another
property—this time in Los Angeles.
With Prices on the Decline, Behringer Harvard Makes $136M M-F Play
Sep 23, 2009
The gap between buyer and seller pricing expectations on commercial
real estate is closing, and with owners eager to sell properties to
escape debt maturities or just to pocket cash to address financial
demands, it has become a buyers market. Taking advantage of the
appealing prices, Behringer Harvard has just acquired two apartment
properties totaling 746 units in separate transactions valued at an
aggregate $136 million.
Economy Watch - IRS Changes Rules for Securitized Loan Modification
Sep 21, 2009
From the nether reaches of the Internal Revenue Service a new tax rule recently emerged (Revenue Procedure 2009-45), the effect of which will be to let real estate borrowers pursue possible modifications to securitized loans--ones that are at risk of default--without triggering tax penalties. Previously, administrative tax rules imposed severe penalties for changes made to commercial mortgage pools or investment interests after the startup date of the securitization vehicle. This naturally had the effect of keeping borrowers mum until default had actually occurred or was nigh.
$80M San Fran M-F Sale Bucks Slow Market
Sep 17, 2009
While multifamily deals decreased significantly in the past year or two
in the San Francisco Bay Area, it isn’t because of lack of buyers – it
is because the sellers don’t like the market correction. In spite of
the sellers’ reluctance to put properties on the market, Waterford
Place Apartment Homes in Dublin, Calif., has sold for $80 million.
Tenant Signs on for 269,000 SF of Inland Empire Industrial Space
Jul 30, 2009
Newport Beach, Calif.-based Master Development Corp., the managing
member of Ontario Two L.L.C., has inked a tenant to a six-year lease
valued at $3.5 million in Phase II of its Thoroughbred Business Park, a
2 million-square-foot industrial park located in Ontario, Calif.
1.2MSF Project on Former Brownfield Site in California Earns LEED Certification
Jul 22, 2009
A 1.2-million-square-foot industrial park touted as the largest
speculative industrial project in the U.S. became one of the largest
overall projects in California to receive LEED certification. Developed
by Dallas-based Hillwood, the project was sold to CB Richard Ellis
Investors a year ago, but Hillwood staff recently completed the Silver
LEED certification process on behalf of the new buyer.
Santa Clarita M-F Trades for $23M
Jul 17, 2009
A 158-unit multi-family property in Santa Clarita, Calif., has traded
for $23 million in what a firm involved in the deal says is the largest
multi-family transaction in the region in three years.
Green Mixed-Use Project in Hawaii Moves Forward
Jul 15, 2009
Architecture firm Stoutenborough Inc. has signed been selected by theKrausz Cos. of San Francisco to handle the design of a320,000-square-foot sustainable, mixed-use community on the island ofMaui, Hawaii.
Furniture Maker Snaps Up 439,000 SF of Industrial Space in California's Inland Empire
Jul 14, 2009
In what is being described by industry players as the second-largest industrial user-sale transaction in Southern California this year,Ashley Furniture Industries Inc. has acquired a two-building portfolio totaling 439,000 square feet in the Cooley Ranch Industrial Park in Colton, Calif., a submarket of the Inland Empire. Overton Moore Properties sold the vacant buildings about 18 months after purchasing them.
California M-F Scores $18M in Financing
Jun 26, 2009
Ory Schwartz, senior director of NorthMarq Capital’s Los Angeles
office, has arranged an $18 million first mortgage for Meadowridge
Apartments, a 176-unit multi-family complex located in Santa Clarita,
Calif.
In Slow Central Valley Market, 685,000-SF Sale Makes Splash
May 29, 2009
Industrial property sales in San Joaquin County in California's Central Valley have been practically nonexistent this year, but USAA Real Estate Co. just broke the monotony with the acquisition of a 658,000-square-foot distribution facility in the city of Tracy, about an hour east of San Francisco.
Denver
Los Angeles
Behringer Harvard REIT Makes Another Big M-F Splash in California
Sep 30, 2009
Behringer Harvard Multifamily REIT I recently made what was then 2009’s
largest California multi-family acquisition with an $80 million
purchase of Waterford Place Apartment Homes near the Bay Area. This
week, the REIT topped that with the $96 million purchase of another
property—this time in Los Angeles.
With Prices on the Decline, Behringer Harvard Makes $136M M-F Play
Sep 23, 2009
The gap between buyer and seller pricing expectations on commercial
real estate is closing, and with owners eager to sell properties to
escape debt maturities or just to pocket cash to address financial
demands, it has become a buyers market. Taking advantage of the
appealing prices, Behringer Harvard has just acquired two apartment
properties totaling 746 units in separate transactions valued at an
aggregate $136 million.
Maguire Snags 64,400-SF Tenant at Downtown Los Angeles Office Tower
Sep 02, 2009
As troubled Maguire Properties sells off much of its Orange County
portfolio in an effort to decrease debt, the company is pushing up the
occupancy level of its premier Downtown Los Angeles portfolio with a
new lease at One California Plaza. Law firm McKenna Long & Aldridge
L.L.P. has just committed to 64,000 square feet of space at the
992,000-square-foot office tower downtown.
Shunning Bankruptcy Rumors, Maguire Continues Disposition Program with Park Place Deal
Aug 12, 2009
General Growth Properties did it. Opus East and Opus South did it. More
than a few REITs have filed for bankruptcy due to ramifications of the
tumultuous economy and frozen credit market, but Maguire Properties
Inc. says that option is just not up for consideration. While shaking
its head at bankruptcy rumors, the financially troubled Los
Angeles-based REIT continues its non-core asset disposition program
with the completion of a deed in lieu transaction of the 1.7
million-square-foot Park Place I office property in Irvine, Calif.
Economic Update - Maguire Vows to Avoid Bankruptcy
Aug 11, 2009
The question of what to do with commercial buildings weighed down by
mid-2000s vintage securitized debt is one that's going to have to be
worked through building by building and loan by loan, it seems. But
there are going to be some bellwether cases, such as Maguire Properties
Inc., which is the process of relinquishing ownership of a portfolio of
prominent Los Angeles-area office buildings.
AMB Sews Up $125M LAX Parcel Sale
Jul 29, 2009
AMB Property Corp. has completed the $125 million sale of a land parcel
at Los Angeles International Airport to Los Angeles World Airports, the
owner of LAX.
Parker, DEXUS Ink Medical Firm to 146,400SF California Lease
Jul 23, 2009
Making a splash in the sluggish office leasing market, medical
manufacturer Advanced Bionics has just signed a 10-year deal for
146,400 square feet of space in Santa Clarita, Calif. According to the
landlord, the office lease is Los Angeles County’s largest of the year
thus far.
760,000SF Sale a Jolt for Slow LA Industrial Market
Jul 16, 2009
Despite sale and lease activity in the Los Angeles industrial market
well off from just a year ago, Westcore Properties and Dune Real Estate
Fund II have purchased a seven-building portfolio containing more than
760,000 square feet of L.A.-area industrial properties.
Orange County
San Diego
San Francisco
$80M San Fran M-F Sale Bucks Slow Market
Sep 17, 2009
While multifamily deals decreased significantly in the past year or two
in the San Francisco Bay Area, it isn’t because of lack of buyers – it
is because the sellers don’t like the market correction. In spite of
the sellers’ reluctance to put properties on the market, Waterford
Place Apartment Homes in Dublin, Calif., has sold for $80 million.
Despite Hotel Sector Slump, W San Fran Commands $90M
Jul 08, 2009
The current economy, plagued by job losses galore and belt-tightening
on the business and leisure travel fronts, has been more than unkind to the
hospitality industry, to say the least. Despite the inhospitable
climate, Starwood Hotels & Resorts has nabbed a buyer for its W San
Francisco hotel. Keck Seng Investments (Hong Kong) Limited has agreed
to fork over $90 million for the 404-room property.
The Green Mandate for Commercial Real Estate
Jun 19, 2009
Green building standards may not seem to be on the front burner of commercial real estate as much this year as last, simply because very little new development is breaking ground these days. Yet planning and policy shifts regarding sustainable real estate go on, anticipating the day when development will begin again.
Seattle Portland
$65M Loan for MU Complex a Vote for Quality
Aug 26, 2009
Some say the frozen credit markets are beginning to defrost a bit, but it in the case of the $64.7 million refinancing of Carillon Point in Kirkland, Wash., it was all about the premier quality of the mixed-use property. Acting on behalf of owner Carillon Properties, Newmark Realty Capital Inc. secured the loan from John Hancock Life Insurance Company for the 470,000-square-foot waterfront complex that sits just 10 miles northeast of Seattle.
In Face of Rising Vacancy, Seattle Sees Biggest Office Renewal of Year
Jul 24, 2009
Despite more than 2 million square feet of new product completed this
quarter, Seattle’s office market saw one of the largest leases this
year when international law firm Perkins Coie L.L.P. renewed its
269,000-square-foot lease at 1201 Third Avenue, a 55-story tower in the
heart of the city’s Central Business District.
Portland Office Complex Lands $38M Recap
Jun 11, 2009
The Portland office of Holliday Fenoglio Fowler L.P. has
arranged a $38 million recapitalization of The 1000 Broadway Building, a
268,600-square-foot, Class A office tower in Portland, Ore.
Featured Real Estate Market in the West
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