It appears CBRE Investors has taken down the last chunk of Atlantic Station. Last July, we reported that Wachovia had engaged Eastdil Secured to shop several apartment loans secured by two communities development by Lane Companies, located in Atlantic Station. CBRE Investors acquired control of these two apartment communities, named Icon ... More
Archive for the ‘Recent Deals’ Category
CBRE Investors devour Atlantic Station
Wednesday, January 12th, 2011REO Monitor: Titan Plaza, San Antonio
Friday, December 10th, 2010Thompson National Properties has acquired the Titan Building and Titan Plaza from Chase Meritt for an estimated $5 million. The property fell into special servicing in May of 2009 and Transwestern was assigned as the receiver. Part of the GSM 206G8 CMBS, the mortgage had an outstanding loan balance of ... More
A “core” opportunity for some
Sunday, November 7th, 2010Various outlets continue to cover the high demand for core investments in commercial real estate. Last week, the Wall Street Journal featured an article titled, simply, Investors Find Opportunity in 'Core'. Other than mentioning the low returns in treasuries and that various pension funds got burnt in the downturn ... More
Is 2007 pricing back for good?
Wednesday, October 27th, 2010CRE Console is certainly not breaking this story, but we did a double-take today on two deals which were announced. 1. REIT to buy office complex from Buck for $97 million Chicago Daily Real Estate reported that Commonwealth REIT (fka HRPT Properties Trust) has agreed to pay The John Buck Company $97 ... More
REO Monitor: Metropolis, Plainfield, IN
Tuesday, September 21st, 2010Aviv Arlon Global LTD has agreed to pay $52 million for Metropolis, a 600,000 square foot lifestyle center located in Plainfield, Indiana from a lender consortium which included Midland Loan Services and Dominion Capital Management. Currently 81% occupied, the property reportedly generates $9 million in annual gross revenue. The property was ... More
REO Monitor: Las Olas Centre, Ft. Lauderdale
Friday, September 17th, 2010USAA Real Estate Company has acquired Las Olas Centre in downtown Fort Lauderdale, Florida for $170 million. The pricing is about a third less than the $230.9 million that the 2-building office complex sold for in 2007. USAA acquired the property from Wells Fargo, following BentleyForbes' default on its $166 ... More
REO Monitor: Highwoods Office Center – Raleigh
Friday, September 17th, 2010A foreclosure auction in Raleigh, NC, of four office buildings acquired for $30.4 million in 2007 by Craig Davis Properties and First Point Partners has been postponed until October 15th. The original sale price equated to a cost of $118 per square foot and represented a significant discount to replacement cost ... More
REO Monitor: Times Square Sold
Tuesday, August 31st, 2010In June, we reported that Bank of America listed Times Square at Craig Ranch in McKinney, Texas, with CBRE. Yesterday, Mid-America Apartment Communities (NYSE: MAA) acquired the property for $31.25 million, or about $100,000 per unit. The property was developed in 2009 by Evergreen Realty Partners. Reportedly, the property ... More
REO Monitor: Crossroads One, Englewood, CO
Monday, January 10th, 2011WRT Crossroads One, LLC has closed on Crossroads One, located at the address of 9800 Pyramid Court, near Interestate 25 and East Lincoln Avenue. WRT Crossroads One, LLC is an entity controlled by Winthrop Realty, who also owns the building next door, aptly named Crossroads Two. In November, CRE Console ... More
Posted in Industry Commentary, Recent Deals, REO Monitor | No Comments »