Skip to contentPrivate-equity kingpin Blackstone Group (NYSE: BX) made its latest foray into commercial real estate, joining forces with DDR Corp. (NYSE: DDR) in a deal to acquire a shopping center portfolio from EPN Group, an affiliate of Tel Aviv-based Elbit Imaging Ltd. The transaction, which is expected to close in June 2012, is valued at $1.43 … Read more
While on the surface, it may seem like a simple corporate name change, Grubb & Ellis Healthcare REIT II’s successful transition to Griffin-American Healthcare REIT II has spawned a host of changes, including several high profile defections and a shake up in capital market activities at several nontraded REITs. Griffin-American Healthcare REIT II this week … Read more
New reports issued this past week shine a spotlight on corporate segments experiencing continued stress, providing commercial real estate owners with an idea of where they can expect soft demand through 2012. In Standard & Poor’s opinion, companies in media and entertainment, consumer products and health care are among the most troubled in the U.S. … Read more
The Federal Reserve this past week issued aggressive and controversial recommendations for dealing with more $7 trillion in housing wealth loss since the onset of the Great Recession. Many economists agree that housing holds the key to a stronger and more widespread recovery in the U.S., and the Fed’s recommendations are intended to address the … Read more
In a move that could ultimately give full ownership of Archstone to bankrupt Lehman Brothers Holdings Inc., a judge on Wednesday approved Lehman’s right to match a $1.33 billion offer by Equity Residential (NYSE: EQR) and its chairman Sam Zell for a 26.5% stake in the apartment company. U.S. Bankruptcy Judge James Peck approved Lehman’s … Read more
Trane, Inc., a leading manufacturer of air conditioning systems, put the finishing touches last week on its 625,000-square-foot lease for the entire industrial building at 5200 Tradeport Dr. in Memphis, Tenn. The building was constructed in 1999 and was previously occupied by Hewlett-Packard. This will be Trane’s second large industrial presence in the Memphis area … Read more
Salesforce.com took more office space in San Francisco. The CRM software and cloud computing giant signed for 401,786 square feet at 50 Fremont St., a 41-story, 817,412-square-foot office tower. The lease will be complementary to the new 14-acre campus it will occupy in Mission Bay. The company leased the Class A office view space that … Read more
In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future … Read more
LaSalle Investment Management sold 55 W. Monroe, a 40-story office building in Chicago’s central business district. The Hearn Co. closed on the tower for $136 million or $168 per square foot. Hearn, a commercial real estate group based in the Windy City, secured $86.5 million in senior debt through Wells Fargo Bank and $21.5 million … Read more
Higher rents and drops in home ownership are helping to spur investors’ interest in the apartment sector, even from developers who typically focus on malls and offices.