American Realty Advisors has just snapped up the newly built, 80,000-square-foot retail village at Hunter Properties’ $350 million @First mixed-use development in San Jose.
American Realty Advisors has just snapped up the newly built, 80,000-square-foot retail village at Hunter Properties’ $350 million @First mixed-use development in San Jose.
Ranging from $20 million to $60 million, four financing deals for a variety of commercial real estate properties are indicators that capital is beginning to flow again for midsize and larger projects.
Amid the European sovereign debt crisis, opportunities exist for commercial real estate investors on the continent, according to panelists speaking during a session at the 2012 ULI Spring meeting in Charlotte, N.C.
A new report by NAIOP, the Commercial Real Estate Development Association, found that commercial real estate development contributed $261.6 billion to the U.S. GDP in 2011, including $137.8 billion in hard-cost construction spending as well as $123.8 billion in soft costs, site development and tenant improvements.
Jamestown has purchased the brand-new office building at 733 10th St., NW, handing over $140 million to Skanska USA for the 171,171-square-foot property.
Rockwood Capital L.L.C. recently shelled out $90 million to acquire a vacant 500,000-square-foot Silicon Valley office campus that will be redeveloped into a Class A property.
Lowe Enterprises Investors, on behalf of one of its investment clients, has acquired the 28-story, 213-room Affinia Chicago Hotel from Denihan Hospitality Group. The property, which will be renamed MileNorth, a Chicago Hotel, will see Destination Hotels & Resorts become the new management firm.
Along with a local investment group, Innovative Student Housing has created a joint venture, Cardinal Student Housing and Development, to create an 830-bed community near the University of Louisville.
Completion of a $931 million seniors-housing acquisition in Canada was significant for both Chartwell Seniors Housing Real Estate REIT and Heath Care REIT, as the 8,187-suite transaction makes Chartwell the largest provider of seniors housing in the country and gives Health Care its first foothold in the growing Canadian market.