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SEATTLE-PW Funding provides mortgage financing for a 52-unit property northeast of here in the City of Lake Stevens and for a 56-unit property south of here in the City of Puyallup.
PHOENIX-Denali National Trust, developer of the popular "insta-suite" office concept, sells the 198,452-sf Paradise Valley Corporate Center to Scottsdale-based International Capital Partners in an off-market deal for a class A property.
HOUSTON-Construction begins Monday on a Verizon Wireless building, a 4,305-sf design at a high-traffic intersection in the Willowbrook section of the northwest submarket. The building will deliver in the first quarter.
HOUSTON-Cannon Development, shopping the city for 4,000 units, buys the 312-unit Hawthorne Apartments with an offer placed 15 days before the bid deadline. The 94%-leased complex was on the market for $16.5 million.
PHOENIX-Uptown's office market may be languishing, but that doesn't stop a California investor from paying full price for a 25,255-sf, class B building. The property's 96% occupancy, a rarity in Uptown, turned the keys.
CORAL GABLES, FL-The deal, at Alhambra Towers here, is estimated to be valued at more than $3 million. Public Service Enterprise Group originally leased the space two years ago but never occupied it. Becker and Poliakoff PA plans to move in to the space in April with a lease that runs through 2012.
WARREN, MI-The Ukrainian Catholic Church parochial schools here have expanded the physical plant of their local grade and high schools with a $4 million investment.
LONDON-Orion Capital Managers has launched the marketing of its second fund, the Orion European Real Estate Fund II and is seeking to raise Euro 400 million ($485 million) by early next year.