Cities
TIAA-CREF Takes Kearny Mesa Office Asset
The Copley Corporate Center in the Kearny Mesa submarket recently traded hands. The Class A office asset was acquired by leading retirement provider TIAA-CREF through affiliate T-C Copley LLC. The investor reportedly paid seller Colony Realty Partners a fee of $43.5 million for the office complex. The deal was arranged by CBRE representatives Louay Alsadek, Kevin Shannon, Rob Merkin, Brad Black and Hunter Rowe on behalf of Colony Realty Partners.
TODAY’S DEALS: Colliers Brokers Sale that Sets New Record in Marin County—$570 Per Sq. Ft.
Colliers International closes the sale of the 38-unit Casa Roja Apartments in Mill Valley, Calif.; and HFF arranges $57 million in takeout financing for a property in downtown Denver.
TODAY’S DEALS: Arbor Funds Five-Year FRM Under Freddie Mac’s New Loan Offering
Arbor Commercial Mortgage funded its first loan under the newly launched Freddie Mac Small Balance Loan initiative for Nettleton Commons in Syracuse, N.Y.; and BMC Capital provides a $829,411 cash-out refinance.
It Takes a Village: Restoring Santa Monica’s Civic Center
“Santa Monica moved towards that rare event in Los Angeles–a pedestrian-oriented place,” writes architect James Mary O’Connor.
European Fashion Retailer Signs Long-Term Lease for 677,000 Sq. Ft. Lehigh Valley Warehouse
Primark, a European fashion retailer looking to expand overseas, has officially entered the US market by leasing a 40-acre site in Pennsylvania’s Lehigh Valley industrial market to support its east coast operations.
Bed Bath & Beyond Heading to Brooklyn
After going through a $100 million makeover, the 1.1 million square foot Liberty View Industrial Plaza is rapidly turning into Brooklyn’s most wanted place to lease for retailers.
Brookline Multifamily Property Sells for $50.2 Million
A joint venture between Westbrook Partners and Nordblom Co. sold a multifamily property in Brookline, MA, in a $50.15 million transaction arranged by HFF.
Federal Realty Snaps Up Major Silicon Valley Retail Property
Controlling interest in the San Antonio Shopping Center in Mountain View, CA was recently acquired by a real estate investment company in a deal worth a total of $62.2 million. The buyer is Federal Realty Investment Trust, a Rockvile, MD owner, operator and developer of high-end retail properties. The transaction was completed by using a combination of 58,000 downREIT units, $18 million of cash and the assumption of $18.7 million of fixed rate debt secured by the property.
TODAY’S DEALS: HFF Secures $46.73M 30-Year, Fixed-Rate Permanent Loan from M&T Bank
HFF announces it has secured $46.73 million in financing for the recently completed The Trails at Timberline; and BMC Capital provides a $4.8 million loan for a Houston property.