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Become a GlobeSt influencer! Learn about our latest recognition opportunities highlighting the individuals, firms and teams changing the commercial real estate landscape.
HOUSTON-A New York City owner closes out a seven-year loan with a new 10-year financing, using the Meadowridge and Villages of Westridge complexes as collateral. The borrower gets a lower interest rate and rehab capital.
LONDON-The 21,558-sf first floor of 3 Roundwood Avenue at Stockley Park, Heathrow, has been taken on a 12-year lease by Adobe Systems for close to $1 million a year.
CAMBRIDGE, MA-The Cambridge City Council has agreed to rezone properties owned by Harvard University to allow it to develop student housing and in exchange Harvard will build approximately 34 units of affordable housing for city residents.
CHICAGO-The developer of Lake Point Tower, McCormick Place expansion projects and the mixed-use University Village development also will be recognized for his civic and charitable contributions.
ST. PAUL-University Enterprise Laboratories plans an $18-million renovation project for a 132,000-sf building on the west side of the city, but hopes to attract an additional $1.5 million in private donations before it starts construction. The organization has 20 biotech start ups lined up as tenants, and is talking to several more potential biotech anchor tenants.
CHANDLER, AZ-Superior Products Corp., an Arizona-based real estate investment firm, puts down $1.4 million for 400 E. Ray Rd. after negotiations cut $500,000 from the industrial property's original asking price.
BOSTON-Legislation to allow casino-style gambling in the state is pulled from the senate even before the bill came to a vote. The measure was supposed to be part of an economic stimulus package.
DENVER-As predicted by the company, third quarter results fell from the same period a year earlier. The largest apartment REIT contributes the loss to the apartment recession.
SUGAR LAND, TX-The 164,057-sf RiverPark shopping center secures a $31.8-million loan from GE Capital Real Estate to replace construction financing. The center's 95% pre-leased status helps in securing the 10-year loan.