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NEWPORT BEACH, CA-Essex Apartment Value Fund buys the part ownership from a private investment partner, matching the stake held by its REIT parent, Essex Property Trust, in the 1,447-unit Coronado North and South complexes.
ORLANDO-At a direct vacancy level of 17.3%, the 30.5-million-sf office market remains "anemic" but net absorption in the second quarter has rebounded, according to a new analysis by the local office of Cushman & Wakefield of Florida Inc.
PHOENIX-The good news is properties with 100 units or more made modest gains for the second consecutive quarter. Occupancy registered 90.5%, a 0.3% climb from a year ago, while rent rose $3 for an average of $714 per month.
DALLAS-US Ink Corp. signs for another seven years to hold onto its longtime address in Perimeter Warehouse 1 at 12002 Corporate Dr. in northeast Dallas. The "market rate" deal keeps the 265,000-sf building filled.
NEW YORK CITY-Continuing with its plan to exit the US real estate market, Lend Lease has completed the first stage of the sale of several of its debt businesses to GMAC Commercial Mortgage Corp.
DALLAS-Sphinx Development gets the financial backing for an affordable housing project in southeast Dallas, locking in Lend Lease as its equity partner. The loan, with a 5.35% interest rate, will deliver units with monthly rents of $673 to $857.
METROPOLITAN WASHINGTON, DC-Multifamily lender Independence Community Bank Corp. has made plans to expand its presence to the prospering Washington, DC region real estate market.
EVESHAM TWP., NJ-The 264,000-sf Promenade at Sagemore, developed two years ago by borrower Davis Enterprises, is the subject property of the transaction arranged by L.J. Melody & Co.'s Philadelphia office.
PORT HURON, MI-The 60,000-sf manufacturing operations will be the only production facility for the firm in U.S. To facilitate this, the company was given $2.7 million in tax breaks.