Business Specialties Investments
Suburban Hartford M-F Trades for $43M
July 7, 2008
By: Barbra Murray, Contributing Editor

Waterford Commons, a 303-unit multi-family community in Manchester, Conn., has sold in a transaction valued at nearly $42.8 million.

The Class A property last changed hands in 2003 for $35.6 million. Occupying a 34-acre parcel, Waterford Commons sits about 10 miles from Downtown Harford and encompasses 13, two- and three-story structures.

Development of the 316,400-square-foot luxury apartment and townhome complex reached completion in 1999 at the hands of Waterford Development Corp., which spent $28.7 million to realize the project. Today the property is held up as one of the best examples of Class A-quality apartment properties in Connecticut, according to Marcus & Millichap Real Estate Investment Services, which represented both the seller and the owner in the transaction.

"There were multiple bids from the investment community," Victor Nolletti, vice president & senior director with Marcus & Millichap, told CPN today of the marketing process for Waterford Commons; Nolletti worked on the transaction with colleague Steve Witten, also a vice president and senior director. "Manchester historically has stable occupancy rates and low vacancy rates, and that speaks to the strength of the market. Also, it's one of the few markets in Connecticut that supports new construction, and new development is well absorbed, which puts upward pressure on rents."

 
Recent Investments Headlines
Investor Group Snaps Up Stake in Maguire
Oct. 13, 2008
With its stock having vacillated between a high of $30.73 per share and a low of $3.31 per share over the last 52 weeks, Los Angeles-based Maguire Properties has had a rough year. However, a recent stock purchase proves that investors remain interested in the REIT that boasts the title of the largest owner of Class A office buildings in Downtown Los Angeles.
From CPN's Morning Newsletter--
Columbus Day Discovery: Global Recapitalization
Oct. 13, 2008
As CPN reported exclusively in our Daily News REport Morning Edition, (subscribe here), with a shoutout to Bette Davis, it's been a bumpy weekend. First off, is it just us, or does recapitalizing every bank in the world sound a bit like global socialism? No matter, after a Saturday of President Bush and G-7 platitudes, as reported by CPN, world leaders got busy with specific action plans. On the heels of Britain's and the United States' pay-for-equity bank-bailout plans, Germany and France announced Sunday respective pledges to take equity stakes in distressed banks and to guarantee bank lending for periods up to five years. Although the measures are concrete, each country in the EU, and elsewhere in Europe, will still act independently.
Exclusive on the Web
Oct. 13, 2008
• Today on CPN Radio: Log on at Noon for Adam Perrotta’s Economic Update
CPNRadio• Log on to CPN’s Blog, REal Talk with CPN, to Share Your Thoughts on Today’s News
• CPN’s 2008 Stars to Watch: The Stories Behind the Pros to Keep Your Eye on
• CPN-Claritas Retail Report: A Tale of Two Shopping Centers
• Guest Column: Coping with the Capital Markets, By Craig Butchenhart
• Deal Tracker: Top Deals in Primary Markets

ProLogis Takes 300,000 SF near Tokyo
Oct. 13, 2008
ProLogis Japan Properties Fund II has acquired a $65 million portfolio near Tokyo, it has reported. The deal includes three buildings totaling 300,000 square feet, all fully leased to three separate Japanese companies, located in Akishima City, a logistics hub approximately 50 kilometers from Tokyo's central business district.
bush Bush Meets with G-7, Speaks of Crisis
Oct. 11, 2008
President Bush spoke to the public from the Rose Garden Saturday after meeting with financial ministers from the G-7 nations.Saying it was important for citizens to understand that what "affects Wall Street affects Main Street," the President noted that the U.S.,playing a special role in the crisis, will take steps immediately. These include the dramatic move to buy into banks directly, as part of injecting funds into them to recapitalize them, a move announced late yesterday by Henry Paulson.
 

 

Financial Market Update: After the Bell -Friday, Oct. 10
October 10, 2008
By Dees Stribling, Contributing Editor -- Investors usually pay lip service to long-term investing, but in times of crisis the reality is sell - everything - now! Panic was the order of the day on Wall Street, which saw the...

Federal Capital Partners Closes $230M Fund, Will Seek Debt Investments
October 10, 2008
By Gail Kalinoski, Contributing Editor -- Armed with a $230 million private equity fund that could allow up to $900 million in investments, Federal Capital Partners said it would continue to seek deals on value-added assets, but would also move...

HFF Arranges $97M Refi for Industrial Portfolio
October 10, 2008
By Coreen Bailor, Research Editor -- The Dallas office of Holliday Fenoglio Fowler L.P. has secured $97.5 million in refinancing for a seven-property industrial portfolio comprising 2.2 million square feet in Florida, New Jersey, Oregon and Texas. The cluster of...

D.C. Office Market Flat Despite Financial Chaos: Report
October 10, 2008
By Elena Gontar, Staff Writer -- The modest second quarter growth rates experienced in Washington, D.C., and Northern Virginia evaporated in the third quarter, according to a CB Richard Ellis Inc. report. The entire region saw an essentially flat market...

Fed, Central Banks Cut Rates
October 08, 2008
By Tom Dworetzky, News Editor -- The Federal Reserve has cut its key rate from 2 percent to 1.5 percent. The response, an effort to stem mounting losses in the markets around the world, is part of a move that...

Management Matters with Mike Myatt: Are Recruiters Effective?
October 10, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Sourcing tier one talent is an issue for all businesses. I was recently asked if recruiters are effective, or if they're worth the investment. Since my firm has a talent management practice which...

Management Matters with Mike Myatt: Partisan Politics Not Always Bad
October 03, 2008
The truth about partisan politics is that contrary to public opinion, it's not always a bad thing. Likewise, bipartisan efforts don't always reflect altruistic behavior and selfless acts. From my perspective, it isn't necessarily the stance you take, but rather...

Management Matters with Mike Myatt: Facing Up to Rogue CEOs
September 26, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --Rogue CEOs. Given the recent failures of banks and financial institutions previously thought to be untouchable, there has been a tremendous amount of justifiable venom being spewed at the CEOs of these firms....

When to Consider Corporate Restructuring
September 19, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Times are tough, and they're likely to get tougher, so my question is this; Should you, or should you not, consider a move toward corporate re-engineering? Whether directly or indirectly, your business will...

Expectation Alignment Key to 'Promise Management'
September 05, 2008
by Mike Myatt, Chief Strategy Officer, N2growth --The art and science behind making commitments and managing expectations has always been a critical skill set for senior executives and entrepreneurs to master. In fact, understanding how to come out on the...