News
MBTA Vote Paves the Way for Big TOD Project in Suburban Boston
Somerville, Mass.–MBTA’s recent vote in favor of a new Orange Line T station marks a big step forward for a massive mixed-use, transit-oriented development in Somerville.
Reston Station Apartments May Begin Next Year
Reston, Va.–Ground breaking for the first component of the Reston Station Metro Facility–which will form the foundation for Reston’s first TOD, a 1.3 million square-foot, mixed-use development–has been set for this spring.
TODAY’S DEALS: CBRE Arranges $45M for Mich. Student Housing
CBRE capital markets has arranged $45 million in financing for the construction of a 606-bed student housing project next to the University of Michigan; Grandbridge supplies $19.85M for Florida apartment; and Alliant Capital LLC closes a $3.4 million loan to refinance Chicago’s Powhatan Apartments.
Grubb & Ellis Creates Daymark Realty Advisors
Santa Ana, Calif.–Grubb & Ellis Company has created Daymark Realty Advisors, Inc., a wholly owned and separately managed subsidiary, to manage the company’s entire tenant-in-common portfolio.
Economy Watch: The Winners and Losers of Retail
Retail didn’t see quite the jump in January for which many were hoping; Borders finally files for bankruptcy; and Family Dollar may go private.
Bovis Lend Lease Tapped to Build Mixed-Use TOD in Maryland
Odenton, Md.–The Village at Odenton Station, a 400,000 square-foot mixed-use residential project near Baltimore and D.C., moves closer towards realization.
TODAY’S DEALS: Cortland Partners Acquires Metro Atlanta Apartments
Cortland Partners has acquired a 308-unit property in metro Altanta; Beech Street closes $80.2M in Freddie Mac loans for two New York high rises; and Abacus Capital Group sells $68 million multifamily complex in California
Partners Break Ground for Dallas Multifamily Property
Dallas–A joint venture formed by Prescott Realty Group, Northwestern Mutual and AREA Property Partners has started construction on a new mixed-use development on the old Shamburger Lumberyard site in Dallas.
Transwestern Expands Operations into New York
Houston—Transwestern has expanded into New York City through the creation of the firm’s Northeast region
Economy Watch: Battle of the Budgets Begins
The Obama administration released its version of the fiscal 2012 federal budget to compete with the House Republicans’ version, but neither side is willing to make cuts to non-discretionary spending.