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EL SEGUNDO, CA-The San Francisco-based firm buys two office buildings in this LA submarket for more than $65 million. Some brokers say the area is cooling off, but others note that its rents are still rising.
NEW YORK CITY-Lend Lease Real Estate Investments will merge its apartment management subsidiary into Winn Management Company. Winn will become one of the top 20 multifamily property managers in the country.
PORTLAND-The 222,500-sf, mid-rise office project by New York-based Insignia/ESG and Houston-based Transworld Properties is nine months out and in search of its first tenant. Triple-net asking rates are $20 per sf to $22.50 per sf annually.
MELVILLE, NY-The strategic alliance will deliver direct access to MortgageRamp's services from Vertical Lend's network of independent financial professionals. Now Vertical Lend associates can access a "Commercial Mortgage" link at www.verticallend.com.
COSTA MESA, CA-Three of the projects are in Orange County and two are in LA. The deals cover a combined 780,000 sf of space. The others are in LA County, San Diego County and Sacramento.
WASHINGTON, DC-The Mortgage Industry Standards Maintenance Organization is working to establish technology standards for e-mortgages. Harry Gardner has been hired to manage its progress. MISMO is comprised of members of the Mortgage Bankers Association of America.
MINNEAPOLIS-The Minneapolis Community Development Agency says it will lose about $27 million in revenue each year as tax increment financing revenues shrink. It warns it will likely have to cut back or eliminate projects.
RAHWAY, NJ-After growing its holdings by more than 2.7 million sf, Denholtz Associates adds the former Hovnanian executive to oversee leasing and property management of the acquisitions.
OAKLAND, CA-The seven-year deal for 25,000 sf of recently renovated sublease space carries a monthly rent of $3 per sf, full service, with bi-annual increases of 3.5%.
IRVINE, CA-The 58,000-sf facility has been transformed into a technology-oriented office space. Both exterior and interior improvements were made to the building, which stands at 2601 Campus Dr.