Finance REITs
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 REITs Headlines
1250 Broadway Closes with $215M Financing via Carlton
May 16, 2008
The deal for 1250 Broadway in New York City, as previously reported by CPN, has found funding through Carlton Advisory Services, which closed $215 million of acquisition and mezzanine financing for its acquisition, Carlton has announced.
Pair of SoCal Hotels Trade for $80M
May 14, 2008
R.D. Olson Development has sold two hotels in Southern California to Apple REIT 8 for a combined $80 million.
Allen & O’Hara Closes $73M Student Housing Bond Issue
May 14, 2008
Allen & O’Hara Development Co., the development subsidiary of Education Realty Trust Inc., has closed on a $73.4 million bond issue for the development of a student housing project at Indiana University of Pennsylvania.
Simon to Sell $1.5B in Senior Notes
May 13, 2008
In a time when borrowing can be a daunting task, even for entities with sterling credit histories, companies are turning to other means to raise the capital they need, according to industry experts.
Redevelopment of Baltimore Suburb to Be a Model in Green
May 12, 2008
General Growth Properties' vision for Downtown Columbia, Md.'s renaissance will leave the master-planned community awash in green, the developer recently revealed to a crowd of area residents.
 

 

Engaging Your Employees Essential
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By Mike Myatt, Chief Strategy Officer, N2growth --The disciplines of branding and corporate identity have long been personal passions of mine, and nothing within this genre holds greater fascination for me than the practice of corporate naming. This column is...

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