Property Types Office
Corus, Lehman Bros. Make D.C. Loans
May 15, 2008

Corus Bank closed a $72 million loan to MR BP Office #1 L.L.C. to finance the construction of a nine-story Class A office building located at 55 M Street SE in Washington, D.C. In addition to the senior Loan with Corus, the borrower closed simultaneously on a $12 million mezzanine loan with Lehman Brothers. At the time of closing, the project was approximately 60 percent complete.The project is being developed by a joint venture between Monument Realty and its investor partners, MacFarlane Partners and Lehman Brothers. The project will include 261,000 net rentable square feet of Class A office space, 13,000 net rentable square feet of retail space, and three levels of underground parking. The office building will be a part of Monument Realty’s “Half Street” project, which is planned to include additional retail, residential and hotel components.

 
Recent Office Headlines
shanghai First Publicly Accessible Space in World’s Tallest Tower Opens
Aug. 29, 2008
The Olympics may be over in China, but the exciting events haven’t stopped there. The highest publicly accessible built space, part of the tallest building in the world—the 101-floor, 1,614-foot Shanghai World Financial Center, has now opened.
48,000-SF Houston-Area Medical Office Building Pre-Leased
Aug. 29, 2008
The 48,000-square-foot medical office structure that will rise up at 253 Medical Center Blvd. in Webster, Tex., has been just been claimed by IDEV Technologies Inc.
SoCal Lender Kicks Off Another $100M Mortgage Pool Fund
Aug. 28, 2008
Los Angeles-based Wilshire Finance Partners has introduced Wilshire Income Fund II, its second real estate mortgage pool fund. The fund will raise $100 million to make commercial property loans. This time around, however, the company will be able to welcome investors and borrowers from beyond the borders of the State of California.
Maguire Wraps Up $211M Orange County Office Sale
Aug. 28, 2008
Los Angeles-based Maguire Properties Inc. has closed the disposition of Main Plaza, selling the 607,000-square-foot trophy office complex in Irvine, Calif., to Shorenstein Properties L.L.C for $211 million including the assumption of $161 million of project level financing.
HFF Arranges $74M Loan for CONSOL Energy HQ
Aug. 28, 2008
Developer Horizon Properties has received a $74 million forward permanent loan for the just-completed two-building, 384,000-square-foot corporate headquarters for CONSOL Energy Inc. in Canonsburg, Pa., a Pittsburgh suburb.
 

 

Westfield Nabs Interest in U.K. Retail Owner
August 29, 2008
By: Tonie Auer, Southwest Correspondent --Less than a week after Simon Property Group acquired a 3.14 percent stake in U.K. retail property firm Liberty International, Australia-based Westfield Group has stepped up to take a 2.96 percent interest in Liberty. Liberty...

L.A. Live Conference Center Topped Out
August 29, 2008
By: Judy Feldman, Contributing Correspondent --Schuff Steel Co. has topped out the new conference center that is part of the L.A. Live development in Los Angeles. The 27-acre development (pictured) began with the construction of the Staples Center where the...

Catskills Hotel Project Gets $525M in Redevelopment Funding
August 29, 2008
By: Scott Baltic, Contributing Editor --Redevelopment of the site that was once home to the Borscht Belt's legendary Concord Hotel, in Kiamesha Lake, N.Y., has taken two major steps forward. In one, Concord Associates L.P., joint venture partner of Empire...

First Publicly Accessible Space in World's Tallest Tower Opens
August 29, 2008
By: Amanda Marsh, Associate Editor --The Olympics may be over in China, but the exciting events haven't stopped there. The highest publicly accessible built space (pictured), part of the tallest building in the world - the 101-floor, 1,614-foot Shanghai World...

Equity Residential Gets $550M Loan
August 28, 2008
By Barbra Murray, Contributing Editor -- Chicago-based Equity Residential Inc. has closed on $550 million in financing, putting up 15 of its multi-family properties as collateral. Originated by Wells Fargo for repurchase by Fannie Mae, the secured interest only loan...

It's All In The Message
August 29, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Top CEOs understand the power, influence, and leverage created by great messaging. Do you ever find yourself sitting back and marveling at those chief executives who always seem to have the right thing...

Do You Have A Bad Attitude?
August 22, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Show me a CEO with a bad attitude and I'll show you a poor leader. While this sounds simple enough at face value, I have consistently found that one of the most often...

Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...