In 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
Archive for the ‘Recent Deals’ Category
REO Monitor: Times Square Sold
Tuesday, August 31st, 2010Kennedy Wilson buys Noho 14
Tuesday, July 13th, 2010Back in December, we reported that Bank of America had taken back JSM Development's NoHo 14 project in North Hollywood. Curbed recently reported Kennedy Wilson's purchase of the property with Guardian Life Insurance Company and RECP/Urban Partners as equity partners and Cigna providing $40 million in fixed rate financing. Sean Deasy ... More
The Canadians are coming!
Thursday, May 27th, 2010So that headline does not sound too menacing, but has anyone noticed that our northern neighbors have been buying up billions in commercial real estate in 2010? Canadian based investors have recently been snapping up U.S. commercial real estate and many expect this trend to continue. Most recently, Canada's largest REIT, ... More
KBS Buys One Main Place – Portland, OR
Tuesday, February 9th, 2010KBS REIT II has acquired One Main Place in Portland, Oregon in what is rumored to be a $57 million sale. The 20-story, 315,000 square foot office building's owner, RREEF Real Estate, was represented by Eastdil Secured. RREEF acquired the property in 2006 for $69.3 million, at which time it ... More
KBS Lands $74M Office Portfolio
Friday, February 5th, 2010KBS Capital Markets has acquired the Pierre Laclede Center in Clayton, Missouri, a suburb of St. Louis, for $74.25 million from BPG Properties. Located at 7733 Forsyth Blvd, the two building property consists of 577,000 square feet of office space. The property was approximately 95% occupied at closing. BPG Properties ... More
Macklowe’s Loss is Zell’s Gain
Monday, February 1st, 2010Macklowe Properties is selling three residential towers to Equity Residential, the Chicago-based apartment investor controlled by Sam Zell. Properties included in this $475 million deal are the 38-story RiverTower, 32-story 777 Sixth Avenue, and the 26-story Longacre House apartment tower in Midtown Manhattan. According to a company report, the portfolio ... More
Former US Bank Building Sells
Friday, January 22nd, 2010The former U.S. Bank Building, located at 918 17th Street in Denver, Colorado has been sold by its lender to Stonebridge Cos. for $4.5 million, or about $43 psf. Patrick Devereaux, a broker with Cushman & Wakefield, sold the property on behalf of its lender, Capmark Finance. Capmark foreclosed on ... More
Tribeca Cos. Picks up Lembi Group property
Thursday, December 31st, 2009Tribeca 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
KOIN Center Sells Out of Foreclosure
Wednesday, December 30th, 2009America 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
Moody National sells property to itself…
Friday, July 2nd, 2010On January 31, CRE Console's REO Monitor noted Citigroup Global Market Realty Corporation filed to foreclose on Moody National's Residence Inn located in Midtown Atlanta. This TIC sponsored deal was a part of a $440 million, 19 hotel property portfolio Moody National bought from Concord Hospitality Enterprises in September of 2007. ... More
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