Finance Institutional Investment
GE Real Estate Funds Legacy Partners Pasadena, Calif., Buy
May 5, 2008

GE Real Estate has announced it has provided a $36.5 million first mortgage facility to Legacy Partners Commercial for its acquisition of an office building in Pasadena, Calif. The Class B property totals 105,000 square feet and is being acquired from Los Angeles-based Arden Realty. The transaction, the first between GE and Legacy Partners, closed in five days. The three-year, first mortgage bridge loan included a hold back for future capital expenditures and tenant improvements of $4.5 million.

 
Recent Institutional Investment Headlines
Lehman May Accelerate Mortgage Asset Sales
Aug. 28, 2008
Lehman Brothers Holdings Inc., in an effort to both staunch its massive losses and tap into a burgeoning market for commercial real estate debt, is reportedly exploring a strategy that would have it set up a company to acquire some of its mortgage assets.
Mid-America Apartment Communities, Fannie Fund to Halt Acquisitions
Aug. 27, 2008
Mid-America Apartment Communities Inc. has reported that Mid-America Multifamily Fund I L.L.C., its joint venture in which it has a 1/3 interest, will not make additional acquisitions.
Equity One, DRA Advisors Take Florida Properties for $53M
Aug. 22, 2008
A joint venture between Equity One Inc. and DRA Advisors has taken three new properties in Florida for $53 million. The properties will be 80 percent owned by Equity One and 20 percent owned by DRA Advisors. The three properties, all retail centers, are Plantation Marketplace in Plantation, Penn Dutch Plaza in Margate and 1900/2000 Offices in Boca Raton.
Pacific Office Properties Nabs $195M Portfolio
Aug. 21, 2008
Pacific Office Properties Trust Inc. and an institutional co-investor have acquired a portfolio of seven Southern California office complexes for $195 million. The combined properties contain more than 1 million leasable square feet across 15 office and flex buildings.
Experts: Lehman RE Sale Could Be Major Opportunity
Aug. 19, 2008
Lehman Brothers Holdings Inc.’s sale of its commercial real estate assets may entice opportunity funds with the patience to wait for a positive turn in the real estate cycle, according to two real estate professionals.
 

 

Equity Residential Gets $550M Loan
August 28, 2008
By Barbra Murray, Contributing Editor -- Chicago-based Equity Residential Inc. has closed on $550 million in financing, putting up 15 of its multi-family properties as collateral. Originated by Wells Fargo for repurchase by Fannie Mae, the secured interest only loan...

Lehman May Accelerate Mortgage Asset Sales
August 28, 2008
By Dees Stribling, Contributing Correspondent -- Lehman Brothers Holdings Inc., in an effort to both staunch its massive losses and tap into a burgeoning market for commercial real estate debt, is reportedly exploring a strategy that would have it set...

Fire Brought Down 7 WTC: Report
August 28, 2008
By Tom Dworetzky, News Editor -- At a technical briefing this week, Shyam Sundar, lead investigator for the federal building and fire investigation of the World Trade Center disaster conducted by the National Institute of Standards and Technology, revealed in...

Maguire Wraps Up $211M Orange County Office Sale
August 28, 2008
By Barbra Murray, Contributing Editor -- Los Angeles-based Maguire Properties Inc. has closed the disposition of Main Plaza, selling the 607,000-square-foot trophy office complex in Irvine, Calif., to Shorenstein Properties L.L.C for $211 million including the assumption of $161 million...

Fund Invests $44M in Texas, Ohio Student Housing
August 27, 2008
By Gail Kalinoski, Contributing Editor -- The Place/BV Student Housing Fund L.L.C. continues to make investments in student housing facilities across the United States, with two more announced today. The properties will be developed in Texas and Ohio for $44...

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