News

The US division known as Savills Studley is now going by Savills.

Office Properties Income Trust had planned to reposition the building but the price was too good to resist.

The two companies reported this morning the transaction has been unanimously approved by the boards of directors of both companies. Mark Gibson, CEO of HFF, will join JLL as CEO, Capital Markets,

The deal was reported by Bethesda, MD-based commercial real estate finance firm Walker & Dunlop, which represented California-based Praelium Commercial Real Estate and South Street Partners of Charlotte, NC, in refinancing the property as part of a restructuring and recapitalization of the ownership entity.

It seems only fitting that as one of the last cranes standing in Brickell comes down, the topping off of Brickell Flatiron has signaled the near completion of the 736-foot-high tower that will stand as the tallest condominium south of New York City.

Øystein Elgsaas, architect and partner at Voll Arkitekter, says The Mjösa Tower symbolizes environmentally friendly thinking in construction and offers proof that tall buildings can be built using wood.

“The chance to own a site like One Geoffrey Way does not come around often,” says Jeffrey Babikian, a CBRE executive vice president. Originally built as a headquarters for American Cyanamid, Toys 'R' Us occupied the property for 16 years.

“This property required a specific buyer profile and we were pleased with the national investor interest,” says Michael D'Agostino of Kiser Group. “In addition to the buyer's focus on affordable housing, they saw opportunities to add value in the market rate units and the parking garage as well.”