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NEW YORK CITY—GPT is assuming $128 million of mortgage debt on the portfolio, encumbering 11 of the 12 properties it has acquired from Dividend Capital Diversified Property Fund Inc.
LOS ANGELES—Marcus & Millichap's John Chang sees the Millennial drive and the resolved issues at the ports as driving the local multifamily market. This is the second in a series focused on the Los Angeles metro area.
PORTLAND—This week, Urban Renaissance Group and Clarion Partners embark on a multimillion dollar renovation of the building, which will see delivery of the largest single block of creative space available in downtown Portland by early 2016.
NEW YORK CITY—The partnership will provide equity finance for the real estate industry and investment opportunities for high-net-worth and high-income investors.
LOS ANGELES—Townscape Partners hires the world-renowned architect to design a mixed-use multifamily project on the Sunset Strip, adjacent to the Chateau Marmont.
MALIBU, CA—In a 1031 exchange, the Mani brothers purchase the iconic 47-room property for $1.7 million per room, one of the highest sales prices of any hotel in the country.
BEVERLY HILLS, CA—The developer files entitlements for 333 La Cienega, a 154-unit mixed-use property on the border of Beverly Hills and adjacent to its highly popular property 8500 Burton Way.