Finance Institutional Investment
GE Real Estate Funds Legacy Partners Pasadena, Calif., Buy
May 5, 2008

GE Real Estate has announced it has provided a $36.5 million first mortgage facility to Legacy Partners Commercial for its acquisition of an office building in Pasadena, Calif. The Class B property totals 105,000 square feet and is being acquired from Los Angeles-based Arden Realty. The transaction, the first between GE and Legacy Partners, closed in five days. The three-year, first mortgage bridge loan included a hold back for future capital expenditures and tenant improvements of $4.5 million.

 
Recent Institutional Investment Headlines
ING Sets Green Initiatives
July 25, 2008
ING Real Estate is the latest firm to introduce a new set of sustainability guidelines for acquisitions, development projects and asset management of its real estate investments, designed to encourage more green transactions and practices as part of ING Group's worldwide commitment to reduce its carbon footprint.
merrill Updated: Harrison Street Closes on $430M Equity Fund
July 24, 2008
Chicago-based Harrison Street Real Capital has closed on a new private equity fund after raising about $430 million. Harrison Street Real Estate Partners II L.P., as the fund is known, began raising capital in March, and according to Christopher Merrill, co-founder and managing principle of Harrison Street, a good number of investors were keen on getting in on the fund.
lefleur jeff W. P. Carey Closes European Sale-Leaseback
July 21, 2008
W. P. Carey & Co. has reported that CPA(R):16 - Global, its publicly held non-traded REIT affiliate, has provided approximately 19 million euro of sale-leaseback financing to Schoeller Arca Systems through the acquisition of two manufacturing facilities located in Monheim, Germany and Nurieux, France.
Centro Sells Off U.S. Assets for $714M
July 15, 2008
Centro Properties, in an effort to deal with the heavy burden of debt that tanked the company’s stock price last year and put the company under new management, is selling 29 of the 31 retail properties held by its Centro America Fund (CAF) in the United States for about $714 million.
Radow, Norman Observers: Healthy Fannie, Freddie Key to Recovery
July 14, 2008
The Bush Administration unveiled plans on Sunday to aid Fannie Mae and Freddie Mac, the U.S.’s two largest mortgage finance companies, as concerns continue to mount about these government-sponsored entities.
 

 

Thursday REal Talk with Adam Perrotta
July 24, 2008
By Adam Perrotta, News Writer --In yet another example of an American firm's involvement abroad, Denver-based ProLogis has appointed Philip Dunne as COO of Europe and the Middle East. Dunne's appointment would seem to indicate that the firm has every...

Work Gets Underway on $500M Gates Foundation HQ in Seattle
July 24, 2008
By: Barbra Murray, Contributing Editor --Ground has just broken in Seattle on what will become the new home of the Bill & Melinda Gates Foundation. The multi-structure green headquarters campus (pictured) will encompass 900,000 square feet, including a visitor center,...

New York Housing Agencies Approve $329M to Build, Renovate Affordable Housing
July 24, 2008
By: Anuradha Kher, Online News Editor, Multi-Housing News --The boards of the New York State Housing Finance Agency (HFA) and its subsidiary, the New York State Affordable Housing Corp. (AHC), recently approved more than $317 million in financing to build...

ProLogis Makes More Big Moves in People, Places
July 24, 2008
By: Scott Baltic, Contributing Editor --In its fourth major personnel appointment in just a few months, distribution facility giant ProLogis has announced that Philip Dunne will join the company in the new position of COO/Europe and the Middle East. Dunne,...

ING Sells Roosevelt Raceway Center on Long Island for $103M
July 24, 2008
By: Judy Feldman, Contributing Correspondent --ING Clarion Partners L.L.C. has sold the Roosevelt Raceway Center in Westbury, N.Y. The New York office of Holliday Fenoglio Fowler L.P. announced the finalization of the $103 million sale and arranged financing, representing the...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...

Does Appearance Matter?
June 20, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --So, do appearances really matter? They shouldn't, but the reality is that they most certainly do. As the old saying goes, "you only get one chance to make a first impression," and often...

Recognizing the Need for Change
June 13, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Since the title of today's column is "Recognizing the Need for Change," I'm going to switch things up a bit and ask you to answer a question posed by me. I first warned...