Business Specialties Investment
Adobe to Buy Boston-Area Office Building Upon Completion
May 15, 2008
In a $44.7 million deal, Adobe Systems Inc. has agreed to purchase Overlook Center in Waltham, Mass., from Normandy Real Estate Partners upon its construction.
WestCorp, Equibase Partner to Pursue M-F Opportunities
May 15, 2008
Equibase Capital Group L.L.C. and WestCorp Management Group have partnered to create a strategic joint venture that will pursue multi-family investment opportunities throughout the United States.
Pair of Dallas Office Buildings Acquired by Newly-Launched Thompson National
May 15, 2008
Less than a month after the launch of Thompson National Properties L.L.C., the firm has acquired two Dallas Class B office buildings as the company’s first acquisition on behalf of the Bruin Fund, a $250 million opportunity fund.
Pair of SoCal Hotels Trade for $80M
May 14, 2008
R.D. Olson Development has sold two hotels in Southern California to Apple REIT 8 for a combined $80 million.
CASTO Invests $400M in Puerto Rican Portfolio
May 14, 2008
Columbus-based CASTO has invested $400 million in 1.7 million square feet of retail and office space in Puerto Rico.
Busy Few Days for ProLogis with Development, Acquisition, Hiring News
May 14, 2008
The week is only half done and already ProLogis has announced plans for a 220,000-square-foot build-to-suit in Hungary, the purchase of 83 acres in Virginia, and the appointment of a new global executive.
CBRE Investors Closes $2.1B Real Estate Fund
May 14, 2008
CB Richard Ellis Investors has announced the closing of CB Richard Ellis Strategic Partners U.S. 5 to new investors.  Strategic Partners U.S. 5 consists of two limited partnerships, with raised equity commitments of $2.1 billion from institutional investors in the United States, Europe and the Middle East.
Lagovent Buys Apartment Portfolio in Dallas Metroplex
May 14, 2008
Lagovent Real Estate Group has acquired two Class B Dallas-area apartment complexes totaling 952 units for a total consideration of $40.5 million.
Mixed-Use in Property Coral Gables Gets a New Owner
May 14, 2008
Ownership of the 180,000-square-foot Plaza San Remo in Coral Gable has just changed hands, with a German investment group advised by Phoenix Property Co. acquiring the one-year-old retail and medical office condominium property from Venera Holdings.
$41M Financing Deal Closes for Dallas-Area MF
May 14, 2008
A financing package valued at approximately $41 million has been put in place for the 600-unit St. Marin/Karrington Apartments complex in Coppell, Texas, about 30 miles from downtown Dallas.
$2B Fund to Capitalize on Transitioning RE Market
May 13, 2008
A new private equity fund, CDC Real Estate Opportunity Fund I, has been established to capitalize on certain advantageous circumstances that may arise in the market as a result of the credit crunch.
Seven-Person East Coast Retail Team Joins HFF
May 13, 2008
Holliday Fenoglio Fowler L.P. has announced that a team of seven capital markets professionals and analysts will join the firm.
One Old Country Rd. Treeline Sells Nassau County Office Building for $65M
May 13, 2008
An entity controlled by The Treeline Cos. has sold One Old Country Road in Carle Place, N.Y., a five-story, 315,000-square-foot office building, for $65 million.
Westcore Expands in Europe, Plans to Spend $100M
May 13, 2008
Nearly two years after entering the European market, California-based Westcore Properties said this week it is allocating $100 million of capital there to acquire, develop and operate regional airports and other commercial real estate projects associated with airports.
Palmetto Med Office Tenet Healthcare Plans Sale of 34 Properties Nationwide
May 13, 2008
After losing $31 million in the first quarter of the year--compared to a net income of $75 million in the first quarter of 2007--Dallas-based Tenet Healthcare Corp. today released details of its plan to sell 34 medical office buildings across the country.
Marzullo $52M Office, Industrial Fund Grabs First Philadelphia Property
May 12, 2008
The APCA Property Fund I, operated by Stamford, Conn.-based Ashforth Co. and Paradigm Capital Advisors of Boston, has acquired an 86,000-square-foot industrial building in Philadelphia, marking the $52 million fund’s first acquisition in the city.
Sares Regis Takes California Industrial Facility, Plans Expansion
May 09, 2008
Sares Regis Group of Northern California has purchased Pinole Point Business Park in Richmond, Calif.
Secondary Glance: Tier Two Office Markets Form Hotbeds of Opportunity
May 09, 2008
In today’s economy, office investors in search of deals tend to prefer lower-risk primary markets. But more affordable prices are drawing some to secondary markets, and small banks can often facilitate investments there.
Falcon Flies: Investment Advisor Expands Foreign Representation
May 09, 2008
Editor-in-chief Suzann D. Silverman spoke with Howard Hallengren, chairman of Falcon Real Estate Investment Co., about his company’s business. Hallengren co-founded the company in 1991 to represent foreign investors in U.S. real estate after providing similar services through Chase Manhattan Bank’s international private banking group in the 1980s. For more on how Hallengren sees foreign investment changing, see the May issue of CPN or search for key words “Howard Hallengren” in quotation marks.
Boxer, Real Estate Hotshot Sells Stake in Promotions Business
May 09, 2008
Oscar De La Hoya, owner of real estate development company Golden Boy Partners, has entered into an agreement to sell shares in his Los Angeles-based boxing promotions firm Golden Boy Promotions to sports and entertainment venue developer and presenter AEG.
Alter Sells 2 Phoenix Industrial Properties for $41M
May 09, 2008
The Alter Group has sold two distribution buildings totaling 684,000 square feet at its 162-acre Buckeye Logistics Center in Phoenix.
Lenox Park Wells REIT II Buys Atlanta Office Campus in AT&T Sale-Leaseback
May 09, 2008
Wells REIT II has acquired a five-building, 1 million-square-foot office campus in the Buckhead submarket of Atlanta, through a long-term sale-leaseback with AT&T. The campus will headquarter AT&T Wireless' operations in the city. The transaction's terms were not disclosed.
South Korea ProLogis Expands Presence in South Korea with $86M Portfolio Acquisition
May 09, 2008
Less than a month after announcing two build-to-suit agreements in South Korea, ProLogis Korea Property Fund has acquired approximately 889,000 square feet of industrial warehouse space there for $86.3 million.
Report Issues Developers’ Call to Arms: Deteriorating Infastructure Hurting America
May 09, 2008
U.S. infrastructure is in a sad state, and little is being done to fix the situation, warned Dale Reiss, global and Americas director of real estate for Ernst & Young, during the Urban Land Institute Spring Council Forum opening general session.
Commercial Real Estate to Retain Favorable Position in Down Market
May 09, 2008
More pain is in store for the U.S. economy in the coming months, but the commercial real estate market is generally expected to endure less of it, according to economists speaking at the National Association of Real Estate Editors 42nd annual real estate journalism conference in Dallas this morning.
 

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