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Commercial Real Estate News

In this section we've added RSS feeds from several commercial property news sources.

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CoStar
Western Wealth Capital Ltd., a Vancouver, Canada-based multiple-unit rental property investment firm, has become quite active in the Phoenix multifamily market this month. This week, it has acquired the Greater PHX IV Portfolio, a four-property, 748-unit, real-estate-owned portfolio for $41.5 million (about $55,480/unit). Last week it acquired 300 of the 440 total units in Signature Place Condominiums in Tempe, AZ, for $40 million (about $133...
An affiliate of RXR Realty LLC and David Werner Real Estate acquired the UBS building at 1285 Avenue of the Americas in New York City from AXA Financial, Inc., advised by AXA Investment Managers - Real Assets, and institutional investors advised by J.P. Morgan Investment Management, Inc., for $1.65 billion, or about $917 per square foot. Pursuant to the sale, RXR signed a long-term lease renewal with UBS to keep its North American headquarters...
CBL & Associates Properties Inc. closed on the sale of Bonita Lakes Mall and Bonita Lakes Crossing in Meridian, MS, for $27.91 million to RockStep Capital. RockStep calls itself a full-service, small-town shopping center acquisition, development, leasing and management company. It has purchased or constructed over 20 shopping centers comprising over 3 million square feet of retail. The company seeks to acquire properties below replacement cost...
C-III Capital Partners, which controls an assortment of CRE-related entities, is adding another in Resource America (NASDAQ: REXI), a specialized alternative asset manager for institutional and high net worth investors focusing on real estate and credit investments. The Philadelphia-based firm has $22.4 billion in gross assets under management. C-III has agreed to pay Resource America stockholders $9.78 per share in cash for a total acquisition...
Abt Associates struck a full-building lease with building owners Monument Realty and Angelo, Gordon & Co. for the Executive Plaza North Building at 6130 Executive Blvd. in North Bethesda, MD. A Cambridge, MA-based global research firm involved in health, social and environment policy, climate change and international development, Abt will relocate its offices from nearby 4550 Montgomery Ave. in Bethesda Crossing to the 151,451-square-foot, eight...
      
National Real Estate Investor
Top REITs like continue to sell large portfolios of properties and trophy assets in primary markets.

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On the day after Puerto Rico’s latest debt default, Nick Prouty was feeling plenty upbeat about his $110 million building project in the island’s capital.

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Boston Properties Inc. agreed to buy a 50 percent stake in a Los Angeles-area office complex from Blackstone Group LP for about $500 million, marking its first purchase in southern California.

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Ares Capital Corp., the publicly traded lender managed by alternative-investment firm Ares Management LP, will acquire American Capital Ltd. for $3.4 billion.

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American retailers already operate in more foreign countries than Asian and European retailers do, but the gap is now widening.

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Wall Street Journal
The sovereign-wealth fund of Bahrain on Thursday bought a 49% stake in a portfolio of seven office buildings spread between Phoenix and Dallas.
The Port Authority of New York and New Jersey has reached a deal to end an $87 million payment dispute with a Canadian construction firm that helped build One World Trade Center.
The Four Seasons is preparing to end its half-century run in Manhattan’s Seagram Building by mid-July, but its co-owners aren’t done with the restaurant business just yet.
Architect Richard Meier, known for his buildings in a narrow spectrum between radiant pearl and creamy beige, has designed a residential tower now under construction on Manhattan’s East Side that is white.
State officials, citing potential conflicts linked to various investigations of Mayor Bill de Blasio, blocked a deal on a long-delayed plan to put up two apartment towers inside Brooklyn Bridge Park.
      
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