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HOUSTON-Corus Bank swaps construction and mezzanine financing with a permanent mortgage on a "for sale" condo project that's only half sold in the Galleria submarket. The project's strength validates the loan amount, says a Corus VP.
SAN ANTONIO-The 98,630-sf Guaranty Center in San Antonio goes to a partnership of local investors. Word is Lincoln Property Co. and Goldman Sachs got more than $75 per sf for the nine-story building.
WALNUT CREEK, CA-After several costly delays, the first phase of the $17.2-million City Hall expansion project, which will double the size of the existing City Hall, is complete.
GLENDALE, AZ-The 20,748-sf industrial building satisfies a 1031 Exchange for a Phoenix-based investor. The buyer of 5022 N. 54th Ave. in Glendale gets a fully leased building for the money.
NEW YORK CITY-Today is the deadline for interested teams to submit their qualifications to the Lower Manhattan Development Corp., and a panel to winnow down the applicants is now in place.
ORLANDO-Central Florida Blood Bank expects to close the $12.5 million deal on the 108,000-sf office structure and the 80,000-sf industrial asset in October at an aggregate below-replacement cost of $115.74 per sf.
LA MESA, CA-Beauchamp Family Trust sells the 172,500-sf shopping center to Otay Mesa International Plaza LLC. The complex, which is located at 7900-7968 El Cajon Blvd., is anchored by Burlington Coat Factory, El Torito Restaurant and 99" Only Store.
EL CAJON, CA-A trust acquires the 22-unit complex, which stands at 1038 Peach Ave. The acquisition is the latest in a string of transactions to close in San Diego's sizzling multifamily market.
ROCHESTER HILLS, MI-The city agrees to an apartment mix with more one-bedroom units at the expense of two-bedrooms in the 144-unit complex, allowing developer Beztak Land Co. to set aside a lower amount of parking spaces for seniors.
LONDON-British Land has unveiled proposals for a new skyscraper in the City of London at 122 Leadenhall Street. A planning application has yet to be submitted, but if approval is given, 122 Leadenhall Street will add to London's skyline.