Tribeca Companies, a private-equity group located in San Francisco has acquired a block of 10 apartment buildings formerly owned by the Lembi Group. Tribeca reportedly purchased non-performing notes backed by several of these apartment buildings from UBS. According to an earlier WSJ report, "By spending more than $1 billion between ... More
Archive for December, 2009
CW Capital, on behalf of CMBS GS 2006-GG8, has filed to foreclose on the $79 million first mortgage underlying Cocowalk, located in Coconut Grove Florida. New Orleans-based PMAT Real Estate Investments acquired the center in 2006 for $87 million, or about $443 psf, from Thor Equities. The property recently boasted retailers ... More
America Pacific International Capital has acquired KOIN Center, located in Portland, Oregon. Eastdil Secured has reportedly sold the 25 year old tower for just over $50 million, on behalf of its lender, New York Life Insurance. New York Life took over the property from a partnership between CalPERS and LA-based ... More
KABR Real Estate Investment Partners has signed a 193,000 square foot lease with Samsung Electronics on a new 10-year term at 85 Challenger Road, in Ridgefield, N.J. Samsung intends to relocate its U.S. headquarters from just down the street. Their current building, 105 Challenger Road, is owned by Mack-Cali, who ... More
National Real Estate Investor recently published their list of Top Office Developers. The top 20 are as follows: 1. Hines Interests Total Office Space Developed or Under Construction: 13.5 million sq. ft. 2. Opus Group Total Office Space Developed or Under Construction: 7.5 million sq. ft. 3. Trammell Crow Company Total Office Space Developed or Under ... More
The Germany-based lender, WestLB, has filed to foreclose on the Cooper Square Hotel co-developers Matthew Moss, Gregory Peck and Kyle Ransford. Peck and Moss are partners in the Peck Moss Hotel Group and Ransford is a principal with Cardinal Real Estate Investments. Peck also owns Crescent Hotel Group, which ... More
Shares soared about 10% when Weyerhaeuser (NYSE: WY) announced their intent to convert to a REIT in 2010, and pay a special dividend of as much as $6 billion in stock and cash, in order to qualify for REIT status. According to the company's website, Weyerhaeuser is one of the ... More
CNBC recently interviewed Stephen Rosenberg, the founder, CEO and sole shareholder of Greystone & Co. Rosenberg says that his company is thriving during this real estate downturn; loan volume is up nearly three-fold.
A according to a report in Real Estate Finance & Investment, Brookfield Asset Management has taken over a 3,900 unit apartment portfolio from Steller Management. Stellar Management acquired the portfolio from Archstone Smith for $952 million in 2007. In addition to One Superior Place in Chicago (pictured right), the portfolio ... More
In this 4 minute interview with the Wall Street Journal, Barry Sternlicht, founder and CEO of Starwood Capital Group, talks about how he got started in real estate, tripled his money selling to Sam Zell and what it takes to persevere as an entrepreneur.