Headlines
$1B M Vegas Resort to Cater to Thriving Mid-Size Event Market
Developers of the planned $1 billion M Resort, Spa & Casino in Las Vegas recently revealed new project details designed to address the city's dearth of conference facilities that accommodate small and mid-sized meetings and events.
Rebuilding Downtown
JPMorgan Chase WTC Development Plans in Doubt
Has JPMorgan Chase finally backed off on plans to build an office tower at the World Trade Center site in lower Manhattan?
Adobe to Buy Boston-Area Office Building Upon Completion
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.
$1B Luxury Resort on Tap in Coveted Area of Bahamas
The New South Ocean Development Co. will erect a $1 billion luxury resort on 385 acres along the pristine southwestern coast of New Providence Island in Nassau, Bahamas.
Pair of Dallas Office Buildings Acquired by Newly-Launched Thompson National
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.
Yales Sculpture
Yale Building Wins AIA Award
Yale University’s new Sculpture Building has been named to the American Institute of Architect's top ten green projects of 2008 list. The building, designed by architects Stephen Kieran and James Timberlake, also earned a platinum LEED certificate.
JV Formed to Develop Suburban Des Moines Retail
Capital Growth Madison Marquette of Minneapolis and DRA Properties L.L.C., an Ankeny, Iowa-based real estate company, have formed a partnership to develop about 500,000 square feet of retail space in Ankeny.
WestCorp, Equibase Partner to Pursue M-F Opportunities
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 SoCal Hotels Trade for $80M
R.D. Olson Development has sold two hotels in Southern California to Apple REIT 8 for a combined $80 million.
Prime Retail to Debut $300M Expansion of Orlando Shopping Center
The former Prime Outlets Orlando will emerge from its $300 million makeover as the 778,000-square-foot Prime Outlets International Orlando next week. Owner Prime Retail upgraded and expanded the property, which now holds the distinction of being the largest outlet center in the southern region and the biggest in the nation.
suffolk
Markland Acquires 47 Citibank Branches in $100M Sale-Leaseback
An Irish investment group, which market sources have pegged as Markland Holdings Ltd., has acquired 47 Citibank branches in the New York City metropolitan area for $100 million.
BNSF Railway Takes 198 Acres at Dallas Logistic Hub, May Buy 164 More
The Allen Group has announced the sale of 198 acres of land in the Dallas Logistics Hub to BNSF Railway Co., with the additional option agreement giving BNSF the right to purchase an additional 164 acres.
Allen & O’Hara Closes $73M Student Housing Bond Issue
Allen & O’Hara Development Co., the development subsidiary of Education Realty Trust Inc., has closed on a $73.4 million bond issue for the development of a student housing project at Indiana University of Pennsylvania.
CBRE Investors Closes $2.1B Real Estate Fund
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.
Busy Few Days for ProLogis with Development, Acquisition, Hiring News
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.
Lagovent Buys Apartment Portfolio in Dallas Metroplex
Lagovent Real Estate Group has acquired two Class B Dallas-area apartment complexes totaling 952 units for a total consideration of $40.5 million.
Joliet
Joliet Green Lights Mixed-Use Project
The Joliet, Ill., City Council has approved a development agreement for the Bridge Street Town Centre, a 3.5-acre mixed-use development in that city southwest of Chicago.
$100M Business Park Planned for Suburban Chicago
A 50-acre site in St. Charles, Ill., has been designated for the development of what will ultimately be a mixed-use business complex less than an hour outside of Chicago.
$2B Fund to Capitalize on Transitioning RE Market
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.
One Old Country Rd.
Treeline Sells Nassau County Office Building for $65M
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.
Palmetto Med Office
Tenet Healthcare Plans Sale of 34 Properties Nationwide
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.
larimer
$145M Construction Loan Set for Denver Tower
The Dallas office of Holliday Fenoglio Fowler L.P. has announced that it arranged a $140 million construction loan for 1800 Larimer.
Simon to Sell $1.5B in Senior Notes
In a time when borrowing can be a daunting task, even for entities with sterling credit histories, companies are turning to other means to raise the capital they need, according to industry experts.
Westcore Expands in Europe, Plans to Spend $100M
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.