Business Specialties Development
$18M Loan Paves Way for Beverly Hills Office & Retail Building
May 7, 2008
A plan to convert a former gas station site in Beverly Hills into the home of a 30,000-square-foot spec office and retail structure gets a boost with Newmark Realty Capital Inc.'s orchestration of an $18.1 million loan for the project. Real estate private equity fund Big Rock Partners L.L.C. has a 100-year ground lease to develop the entitled one-third-acre parcel located 9378 Wilshire Blvd. Provided by a regional bank, the loan is for a 24-month term with optional extensions.
Recent Development Headlines
ProLogis to Increase Presence in Fort Worth with New 2MSF Park
May 16, 2008
Later this year, Denver-headquartered ProLogis will commence development of ProLogis Park Fort Worth on a 130-acre site in the North Fort Worth submarket. At full build-out the industrial complex will encompass seven structures containing a total of 2.1 million square feet of distribution space.
IPG to Add Luxury Hotel to Argentine Wine Resort
May 16, 2008
The city of San Rafael, in western Argentina, has approved a major expansion of Algodon Wine Estates, a winery and luxury resort, an expansion that will include a luxury hotel of about 50 suites, according to an announcement by InvestProperty Group L.L.C., the resort’s developer and owner.