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Suburban office with an urban core not too far away is getting its groove back as Millennial demand for walkable live-work-play amenities spill out into the burbs.
Refinancing of $126.2 million was secured for Dublin Corporate Center, a 447,771-square-foot complex, on behalf of a joint venture between funds managed by Oaktree Capital Management LP and Hines.
Los Angeles-based Preylock Real Estate Holdings recently acquired 90 North, a four-building 256,703-square-foot office campus for $117 million, and the campus is fully occupied by T-Mobile and Mindtree.
Savills Surplus Property Consulting Services advises investors on divestment strategies and best practices for monetizing assets and mitigating risk on compromised real estate at a single site or in a portfolio.
"The Philadelphia office market has seen immense momentum and rent growth over the past few years and the well capitalized Nightingale and Wafra partnership is in ideal position to capitalize on the favorable market dynamics,' says Walker & Dunlop's Rosenberg.
The fully developed Parkmerced will include nearly 10,000 homes, 80,000 square feet of office space, 230,000 square feet of retail, a new elementary school and 64,000 square feet of amenities.
The borrower refinanced Exposition 2, a creative office development totaling 56,000 square feet at the intersection of Crenshaw and Exposition in Los Angeles.
Equiem will provide Frost Bank Tower tenants with access to a wide variety of new services, events and experiences, as well as a range of facilities, amenities and retail already available onsite, all through one app.