Private Equity

U.S. Mint HQ Fetches $147.5 Million

March 2, 2012

Costar… NSP Ventures Corp. purchased the U.S. Mint headquarters building at 801 Ninth St. NW in Washington, DC, from Wereldhave USA Inc., a commercial real estate investment firm based in the Netherlands, for $147.5 million, or approximately $624 per square foot. The eight-story, 236,054-square-foot office property is one block away from Gallery Place Metro Station and is next to the 1.9 million-square-foot mixed-use CityCenterDC development. Stanley… See original here: U.S. Mint HQ Fetches $147.5 Million Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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UBS Invests $74M in N. Hollywood Luxury Apts.

March 2, 2012

Costar… A core fund managed by UBS acquired NoHo14, a 180-unit mixed-use high-rise at 5435-5449 Lankershim Blvd. in the NoHo Arts District of Los Angeles, CA, for $73.9 million or $410,583 per unit. A joint venture led by Beverly Hills-based Kennedy Wilson, Guardian Life Insurance and Urban Partners/RECP sold the asset. The 14-story luxury apartment building was originally built as a condominium project in 2008. After the partnership purchased the property… The rest is here: UBS Invests $74M in N. Hollywood Luxury Apts. Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Investment Technology Group Leases 132,000 SF in NYC

March 2, 2012

Costar… Investment Technology Group (NYSE:ITG), an independent agency research broker that partners with asset managers globally, signed a new lease for 132,092 square feet in the office building at One Liberty Plaza in New York City. The company will be relocating from 380 Madison Ave., where they currently lease about 101,000 square feet. The expected commencement date for the new lease will be on or around May 1, 2012. Subject to terms and conditions… Go here to read the rest: Investment Technology Group Leases 132,000 SF in NYC Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Non-Traded REITs May Look to Cash In On Market Cycle With Public Offerings

March 1, 2012

Costar… American Realty Capital Trust Inc.’s board of directors and chairman believe that the timing is right for more REITs to enter the publicly traded market. That’s exactly what the non-publicly traded REIT is doing this week, with plans to offer up to 6.6 million shares of common stock at an assumed price of $11.50 per share in an initial public offering as the REIT’s operating partnership looks to repay indebtedness and raise general working capital… Read the original post: Non-Traded REITs May Look to Cash In On Market Cycle With Public Offerings Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Cousins Becomes Second Major Firm To Drop Land Development

March 1, 2012

Costar… Less than one month after Forest City Enterprises announced it will reposition or divest its land holdings and refocus on apartments, office and retail developments in its core markets, Cousins Properties Inc., said it too plans to drop land from its mix of assets — and will take a $126 million charge to do so. The Atlanta-based REIT’s commercial land holdings include 475 acres, with 326 acres in Georgia, 66 in Texas, 56 in Florida and smaller… Read more from the original source: Cousins Becomes Second Major Firm To Drop Land Development Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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SL Green Closes on $252.5M Acquisition in NYC

February 28, 2012

Costar… SL Green Realty Corp. (NYSE: SLG), the largest commercial office landlord in New York City, has closed on its previously announced acquisition of the HarperCollins Bldg. at 10 E. 53rd St. in New York City. The total purchase price came to $252.5 million, or approximately $647 per square foot. The company then entered a joint venture with Canada Pension Plan Investment Board (CPPIB), which took a 45 percent ownership stake in the property with… View post: SL Green Closes on $252.5M Acquisition in NYC Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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In The Pipeline: CoStar Development & Construction News for Feb. 27 – March 3

February 27, 2012

Costar… 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 In the Pipeline columns by e-mail. Architecture Billings Point Toward Slow Recovery The Architectu Read the rest here: In The Pipeline: CoStar Development & Construction News for Feb. 27 – March 3 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Architecture Billings Point Toward Recovery

February 27, 2012

Costar… The Architecture Billings Index (ABI), a leading indicator of future construction activity, stayed positive for the third month in a row, although the overall reading was flat and the West continues to show weak demand for design services. The American Institute of Architects (AIA) reported the January ABI score was 50.9, following a mark of 51 in December, reflecting a continued slight increase in demand for design services. Any score above… Originally posted here: Architecture Billings Point Toward Recovery Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Big Bet On Bricks and Mortar: Westfield Deal Seen Raising Value of U.S. Mall REITs

February 16, 2012

Costar… The Westfield Group has formed a $4.8 billion joint venture on 12 regional shopping malls in the United States with the Canada Pension Plan Investment Board (CPPIB.) The deal is the largest real estate investment made by the institutional investor, and a big bet on the future health of U.S. shopping malls. The investment gives CPPIB ownership interests in 26 malls in major U.S. markets. It has also invested in malls in the U.K., Australia, Brazil… Read the original post: Big Bet On Bricks and Mortar: Westfield Deal Seen Raising Value of U.S. Mall REITs Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Apartment, Office Properties Record Strongest CRE Pricing Recovery In 2011

February 16, 2012

Costar… Powered by continuing gains in apartments and growing momentum in the office sector, the CoStar Commercial Repeat Sale Indices (CCRSI) National Composite Index ended 2011 significantly above its cyclical low last March, despite a relatively flat fourth quarter for pricing. CRE sale prices stalled a bit in December as heavy year-end trading kept pricing stable in the fourth quarter, a trend CoStar has observed in each of the past two years, according… Read more: Apartment, Office Properties Record Strongest CRE Pricing Recovery In 2011 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Largest Publicly Traded CRE Services Firms Finish 2011 With Strong Revenues, Earnings

February 15, 2012

Costar… Three of the top publicly traded real estate service providers — CBRE Group, Inc., Jones Lang LaSalle and FirstService Corp., parent of Colliers International — all reported strong fourth-quarter and full-year 2011 results, each benefitting from the global recovery in CRE sales and leasing activity. Expect more of the same in 2012 from the industry’s two largest global players, CBRE Group Inc. and Jones Lang LaSalle, which each forecast double… More: Largest Publicly Traded CRE Services Firms Finish 2011 With Strong Revenues, Earnings Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Apartment Portfolio Sells For $169M

February 14, 2012

Costar… In one of Southern California’s largest deals of the year, Greystar Real Estate Partners LLC acquired four multifamily buildings from BlackRock, Inc. for $169 million. The deal includes 5880 Lochmoor Drive, a 158-unit apartment in Riverside, CA; 11201 Otsego Street, a 100-unit complex in North Hollywood; 7039 Charmant Drive, a 312-unit multifamily in San Diego; and 1100 Calle Del Cerro, a 250-unit complex in San Clemente, CA. Collectively… Read more: Apartment Portfolio Sells For $169M Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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In The Pipeline: CoStar Development & Construction News for Feb. 12-18

February 14, 2012

Costar… 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 In the Pipeline columns by e-mail. Brooklyn Tower Expected to Break Ground Late This Year The… Read more: In The Pipeline: CoStar Development & Construction News for Feb. 12-18 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Graphic Packaging Inks 109,556-SF Office Lease

February 8, 2012

Costar… Graphic Packaging International, a packaging manufacturer, leased 109,556 square feet at RiverEdge Summit at 1500 RiverEdge Parkway in Atlanta, GA. The company will initially move its headquarters into 86,525 square feet in the first quarter of next year, but iStar Financial, the owner, will also build a state of the art, 23,000-square-foot product development center that will be attached to 1500 RiverEdge Parkway. The property is a nine… More: Graphic Packaging Inks 109,556-SF Office Lease Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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In The Pipeline: CoStar Development & Construction News for Feb. 5-11

February 7, 2012

Costar… 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 In the Pipeline columns by e-mail. ACC Begins Student Housing Project at Drexel University American… Read the rest here: In The Pipeline: CoStar Development & Construction News for Feb. 5-11 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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$92M Cruise Terminal For America’s Cup Events Gets Off the Line In San Francisco

February 7, 2012

Costar… Construction has begun on the Port of San Francisco’s long-awaited 88,000-square-foot cruise terminal at Pier 27, quickly following the Board of Supervisors approval of an environmental report on the terminal and events related to the 34th America’s Cup events to be held in the city this year and in 2013. San Francisco Mayor Edwin M. Lee said the James R. Herman Cruise Terminal is a key port infrastructure project to host the prestigious 160… Follow this link: $92M Cruise Terminal For America’s Cup Events Gets Off the Line In San Francisco Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Private Equity Checks In at Jameson Inn

January 11, 2012

Colony Capital, a California-based private equity firm, on Monday won a hard-fought battle among creditors for control of the Jameson Inn chain of 103 budget hotels in the Southeast and Midwest U.S.

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Ex-Beazer Finance Chief to Repay Home Builder

August 31, 2011

From WSJ.com… The former finance chief of Beazer Homes USA agreed to a settlement with the SEC requiring him to reimburse Beazer over $1.4 million he received during a period when the company allegedly committed accounting fraud. Read the article: Ex-Beazer Finance Chief to Repay Home Builder Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net Read the article: Ex-Beazer Finance Chief to Repay Home Builder

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Home Builders Run Out of Lifelines

August 31, 2011

From WSJ.com… Five years into a housing meltdown, questions are arising about how long some home builders can survive without significant improvement in the market. Follow this link: Home Builders Run Out of Lifelines Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net View article: Home Builders Run Out of Lifelines

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Restaurant Industry Outlook Remains Positive

June 2, 2011

Costar… Buoyed by positive same-store sales and solid optimism among restaurant operators for continued growth, the outlook for the restaurant industry remained positive in April. The National Restaurant Association’s Restaurant Performance Index (RPI) – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 100.9 in April, essentially unchanged from a level of 101.0 in March. In addition, April represented… See the original post: Restaurant Industry Outlook Remains Positive Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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