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LONDON-DB Real Estate has purchased Northcliffe House, Tudor Street, London EC4 from an affiliate of TIAA-CREF and from Clerical Medical for pounds 99,215,000 ($165 million). The price of reflects a net initial yield of 6.4%.
SAN FRANCISCO-Eugene Reilly, most recently a partner with Cabot Properties in Boston, will head up domestic development for the publicly traded industrial REIT.
MAPLE GROVE, MN-The new 30,000-sf temple was designed according to ancient Hindu architectural principles by SLL/Leo A. Daly of Minneapolis. The groundbreaking has been 10 years in the making, and the society still has a large portion of the cost to raise for the new temple.
ATLANTA-In secret negotiations with an undisclosed seller, the Georgia Properties Commission has approved the land purchase in hopes of interesting the Dearborn, MI-based automaker into opening a new manufacturing plant in the state.
SCOTTSDALE, AZ-The Metis Group found "synergy" in Scottsdale's Youth Family Art Center. The mix of youth related businesses in the three-building, user-owned condos complement the firm's planned private tutoring center.
MINNEAPOLIS-The Xcel Energy unit, which is reorganizing in bankruptcy court, will pay the Shaw Group for the work it did on the unfinished Pike power plant project in Holmesville, MS.
HARRISBURG, PA-Pennsylvania Industrial Development Authority loans fund the purchase and renovation of a 99,032-sf building and a 14,136-sf property as well as the expansion of Frankford Candy & Chocolate Co.
LAS VEGAS-A California private investor acquires the 488-unit Sandpiper Apartments here from Rayman Associates Nevada LP. The property, built in 1987, is located about three miles west of The Strip.
LA JOLLA, CA-Borrower PGP La Jolla LLC has received the funds from a New York-based institutional lender. It will use the capital to refinance its 6,752-sf office asset located at 1150 Silverado St. in La Jolla.