Oaktree, Cypress Claim Scottsdale Office Asset for $92M

Raintree Corporate Center, an institutional-quality, 345,417-square-foot office project in Scottsdale, AZ, was acquired by funds managed by Oaktree Capital Management, L.P. and San Diego-based Cypress Office Properties for $91.7 million. Built in 2007-2008 and located on nearly 12 acres at 8800 and 8888 East Raintree Dr., the asset consists of two, three-story, multi-tenant office buildings

Continue Reading

Financing Arranged for Piggly Wiggly HQ in South Carolina

Thorofare Capital provided a joint venture led by Insite Properties with $16.28 million in first mortgage debt for the acquisition, renovation and stabilization of an 84,468-square-foot office complex in Charleston, SC. The financing is secured by Albemarle Point Center, and features a 73,356-square-foot, four-story office building, which has served as the corporate HQ for Piggly

Continue Reading

Construction Begins on $45M Mixed-Use

The Boyer Co. and the city of South Salt Lake, UT broke ground on The Crossing, a 235-acre mixed-use development. Upon its completion, the $45 million development will offer 2,500 multifamily units, 1.5 million square feet of retail and restaurant space, and 3 million square feet of office and commercial space. WincCo Foods is the

Continue Reading

CBRE Arranges $107M for Two Riverfront Buy

CBRE Capital Markets’ Debt & Structured Finance team arranged for $107.3 million in financing on behalf of Kuwait-based KFH Capital Investment Co. The funds were used to acquire the 337,543-square-foot Two Riverfront Plaza, in Newark, NJ, which is Panasonic Corp. of North America’s headquarters. The buyer paid $165 million to SJP Properties and Matrix Development

Continue Reading

Perseus TDC Completes Redevelopment of D.C. MXU Following Fire

Perseus TDC completed construction on Penn 11, a mixed-use project comprising 34 condominium units and 13,500 square feet of ground-floor retail in Washington, D.C. The famous Frager’s Hardware, which originally opened in 1920, is now back in business after a devastating fire destroyed the local icon in June 2013. Perseus TDC’s Bob Cohen says, “We are

Continue Reading

$75M Loan Obtained for Honolulu Office Complex

Duesenberg Investment Co., owner of the TOPA Financial Center, two 23-story, Class A office towers in downtown Honolulu, obtained $75 million in fixed-rate financing with help from Newmark Realty Capital. The asset consists of 508,000 square feet encompassing a full city block. George Mitsanas and Jasmine Polson of Newmark’s Los Angeles office arranged the fixed-rate

Continue Reading

Skanska Sells Boston Tower for $455M

Skanska is divesting 121 Seaport office tower development in Boston, to SVF Acquisitions, LLC, a JV between American Realty Advisors and Norges Bank Real Estate Management for roughly $455 million. The deal for the 17-story, 400,000-square-foot newly-built building is expected to close in Q4 2018. The LEED Platinum certified office property is accompanied by 275

Continue Reading