Business Specialties Property Management
Property Management Business in Virginia on Block
May 15, 2008
The U.S. Bankruptcy Court for the Eastern District of Virginia has approved the retention of Keen Consultants, the real estate division of KPMG Corporate Finance L.L.C., to market and sell a property management business and the real estate from which it operates in Fairfax, Va.
Transwestern's Atlanta Office Adds Retail Expertise
May 13, 2008
Transwestern’s Atlanta office has announced that Patrick Arnold and Spencer Bomar have joined the firm to bring a retail brokerage component to Transwestern’s Atlanta operation and expand the company’s overall retail coverage into other Southeastern markets.
Protective Measures
May 09, 2008
The month of March proved to be a test of building owners’ ability to protect themselves against disaster. On March 14, as many as 14 tornadoes touched down in Georgia, including Downtown Atlanta and its surrounding communities.
Vista Picks JLL To Rep Mixed-Use in Houston
May 07, 2008
Houston-based Vista Equities Group has selected Jones Lang LaSalle Retail to represent its $150 million Main Street-styled mixed-used development, LaCenterra at Cinco Ranch.
Upscale 259-Room Tampa Sheraton Comes Under New Ownership
May 05, 2008
A joint venture consisting of Square Mile Capital Management L.L.C. and Davidson Hotel Co. has acquired the 259-room Sheraton Suites Tampa Airport/Westshore. Host Realty Partnership L.P. sold the Tampa, Fla.-property just two years after having acquired it as part of a $4 billion, 35-hotel portfolio acquisition from Starwood Hotels and Resorts in April 2005.
450,000SF Office Pre-Lease in Place at Boston's $500M Russia Wharf Project
May 01, 2008
Boston Properties, developer of the 815,000-square-foot mixed-use Russia Wharf in Boston, has snagged an anchor tenant for the 552,000-square-foot office segment of the $500 million project. Asset management firm and investment advisor Wellington Management Co. will occupy 450,000 square feet under a 15-year lease agreement.
Buenos Aires Office Tower Fetches $70M
April 30, 2008
IRSA Inversiones y Representaciones S.A. has acquired the Edificio Republica building in Downtown Buenos Aires, Argentina, for $70.3 million, adding 214,000 square feet to its portfolio. With this purchase, the company also expects to soon close lease agreements for approximately 172,000 square feet.
Simons Says Will Focus on Redevelopment
April 30, 2008
At the Simon Property Group's first quarter 2008 earnings conference call David Simon, Chairman & CEO reported that first quarter FFO was $1.46 per share, up 6.6 percent over a year ago.
Riverstone Acquires Seattle Property Management Firm
April 18, 2008
Third party property management firm Riverstone Residential Group has acquired Seattle based HSC Real Estate Inc. With this acquisition, Riverstone looks to increase its viability in the Northwest, as HSC is a property management firm currently operating approximately 34,000 units in the region.
San Diego Office Building Goes for $42M
March 20, 2008
Falcon Real Estate Investment Co. has announced the acquisition of University Pacific Centre, a four-story 97,000-square-foot office building in the University Towne Center submarket of San Diego, Calif., for $42 million.
Energy Star: Best Bang for the Buck
March 16, 2008
For property managers who oversee buildings in many states, dealing with rising energy costs, due to varying energy rates and pricing structures, can present a mighty challenge. “You may be dealing with literally hundreds of vendors,” said Joseph Falci, director of rate analysis and energy procurement consulting for Cadence Network.
Energy Programs Assist Property Managers
March 01, 2008
Property managers say resources are readily available to help them make their properties more energy efficient. One, the Energy Star program, run by the U.S. Environmental Protection Agency and the U.S. Department of Energy, allows a building to benchmark its energy performance against its peer set.
Campus Apartments Bags Management of 3,300 More Student Housing Beds
Dec. 04, 2007
Philadelphia-based Campus Apartments Inc., the nation’s largest privately-held student housing company, has assumed management of a portfolio of nine student apartment communities around the country from ING Real Estate Community Living Fund, Rabil Properties L.L.C. and Corridor Ventures Real Estate.
CBRE Expands Fifth Third Relationship
Nov. 08, 2007
CB Richard Ellis Inc. has announced it has expanded its relationship with Fifth Third Bank as exclusive project management services provider for the Bank's new and relocated banking centers across the United States.
Jones Lang LaSalle Doubles Contract with ACS
Oct. 16, 2007
Dallas-based Affiliated Computer Services Inc. selected Jones Lang LaSalle to provide facility management and project management services for its U.S. portfolio in a three-year deal, essentially doubling the size of an existing contract JLL had with ACS.
Grubb & Ellis Wins Microsoft Vendor Award
Oct. 08, 2007
Grubb & Ellis Co. has been named "Vendor of the Year" by Microsoft Corp., for providing facilities management services for Microsoft's Redmond, Wash., campus and several additional locations in the United States and abroad.
Australia’s United Group Acquires UNICCO for $408M
Sept. 25, 2007
Identifying the move as part of its strategy for growth, particularly in North America, United Group Ltd. announced today it has completed its acquisition of Boston-based UNICCO for $408 million.
Catch Up on Commercial Property Management
The growing trend towards sustainable design and green building practices cannot be denied. Real estate trends impacting commercial property management and the entire commercial real estate industry are major news stories constantly covered by CPN.
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