Argosy and CW Urban to develop class-A multifamily property in Salt Lake City

Argosy Real Estate Partners (AREP), in partnership with Utah-based luxury townhome developer CW Urban, has acquired a 0.9-acre parcel of land for a planned class-A multifamily property in downtown Salt Lake City, according to a spokesperson for the firm. The transaction amount was not disclosed at the time of publication. The asset known as The Beverly will consist of four buildings, each four stories tall, containing a total of 48 boutique, luxury units, which will include a mix of…

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JLL closes sale and financing of Research Commons in Durham

JLL has sold and financed the Research Commons, a five-property office portfolio totaling 429,758 square feet in Durham, N.C. JLL marketed the portfolio on behalf of the seller, Greenfield Partners, and procured the buyer, Global Mutual. Additionally, JLL worked on behalf of the buyer to secure the five-year, floating-rate acquisition loan through BBVA USA. Research Commons is positioned on 58.9 acres at 79 TW Alexander Drive within Research Triangle Park, which is the largest dedicated scientific research park in…

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Prologis acquires Black Creek Group investment platform for $4b

Black Creek Group, a Denver-based real estate investment manager and development firm with a more than 25-year history, announced its sponsored investment platform, Industrial Property Trust (IPT), has entered into a merger agreement pursuant to which it will be acquired by an affiliate of Prologis in an all-cash transaction valued at approximately $3.99 billion, subject to adjustment for certain transaction costs. The transaction will not include IPT’s minority ownership interests in its two unconsolidated joint venture partnerships. IPT’s board…

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Tishman Speyer and Bellco Capital launch global life sciences real estate platform

Tishman Speyer and Bellco Capital, an investment firm founded by biotechnology entrepreneurs Drs. Rebecka and Arie Belldegrun, have formed Breakthrough Properties. “In the last decade, the life science industry has experienced unprecedented productivity, innovation and scientific discovery as biotechnology and technology converge,” said Belldegrun. “Life science entrepreneurs deserve to have environments that foster scientific innovation and allow them to focus their attentions on creating exciting new therapies that change how we fight disease and improve lives for generations to…

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CBRE: Scoring tech talent in North America 2019

More than 6 million highly skilled workers across the United States and Canada comprise the tech talent that is leading global innovation, according to CBRE. Shrinking availability of tech talent in leading markets has spurred a spillover of hiring momentum in smaller and upstart markets in the United States and Canada as expanding tech employers seek additional labor pools.   Overall, big markets have continued to produce the largest volumes of jobs and tech degree graduates over the past…

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AXA Investment makes second office investment in Oakland

AXA Investment Managers – Real Assets has completed, on behalf of a client, the acquisition of 180 Grand Avenue, a 279,000-square-foot office asset located in downtown Oakland, Calif. “The acquisition of 180 Grand, which marks our second office investment in Oakland following the acquisition of 1440 Broadway last year, aligns well with our strategic approach to investing in high-quality assets in the top U.S. office locations which are served by strong public and private transport infrastructure and benefit from…

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Shopoff Realty Investments sells apartment development in Anaheim ​

Shopoff Realty Investments has sold the apartment development phase of its Anaheim Packing District Area Project, a 5.47-acre property entitled for a 314-unit apartment development.  Located at 901 E. South Street in the City of Anaheim, Calif., the property was sold to Anton Development. The  property was purchased in a joint venture with Argosy Real Estate Partners. Working closely with the City of Anaheim and following its Residential Opportunity Overlay Zone plan, Shopoff was able to entitle the property for a new mixed-use housing development…

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Besen secures financing for Gardens Transit Oriented Development

Besen announced that its capital markets group has arranged both the equity and debt necessary for the acquisition and development of a 130-acre land parcel specially zoned and with concept plan approval to develop a mixed-use, transit-oriented development (TOD), located just one mile south of the world renowned Woodbury Commons, N.Y.  The half billion–dollar, mixed-use project will create a scalable, walkable community with modern apartment living and destination retail surrounding the train station core. Townhouses and other “for sale”…

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PCCP provides $72m to finance multifamily development in Virginia 

PCCP has provided a $71.8 million senior loan to finance the development of Woodfield Reston, a fully entitled eight-story, 306-unit multifamily community with an above-ground, structured parking garage along the Dulles Toll Road in Reston, Va.  The property is being developed by Woodfield Development and German American Realty, a family-owned and operated investment manager specializing in developments and acquisitions of existing multifamily communities with value-add potential. Construction has now commenced with completion anticipated for mid-2021.  Located on 3 acres…

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Rising Realty, BentallGreenOak acquire Denver landmark office property

A joint venture between Rising Realty Partners and BentallGreenOak has purchased the Civic Center Plaza in Denver for $124.6 million. The landmark, class A office building spans 22 stories and totals 598,592 square feet. Located at 1560 Broadway, Civic Center Plaza is adjacent to Denver’s premier transit hub. At closing, the property was 97 percent occupied. Los Angeles–based Rising manages more than 4 million square feet of commercial office space in the Greater Los Angeles area, and the Denver…

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