SYDNEY, AUSTRALIA-The locally based company sells a 50% share of Lend Lease Real Estate Securities to its current management, run by Andrew Parsons, who is creating a new business called Resolution Capital.
SAN FRANCISCO-Most of the assets to be sold are R&D buildings in the San Jose Region that "are not expected to be competitive and attractive to prospective office space users in the foreseeable future," says EOP. <i>(Click <a href="http://www.globest.com/news/128_128/chicago/127081-1.html">here </a> for the national perspective).</i>
LAKE OSWEGO, OR-The Chicago-based office REIT adds to its dominant position in the Kruse Way sub market here, acquiring two class A buildings totaling 198,000 sf. The $247 per-sf purchase price is the highest ever paid for a property in the Portland region. The acquisition takes EOP's market share of the region's premier sub market to 78%.
SAN FRANCISCO-The locally based company says it has entered contracts to sell for $200 million Mission Bay land entitled for 2,300 residential units. The new comes on the heels of the company's sale of Mission Bay land entitled for 500,000 sf of commercial space.
DANVILLE, CA-The U.S. investment and development arm of one of the largest property companies in the United Kingdom acquires the a 75,000-sf medical office campus here that is 97% leased.
NORTH SAN JOSE, CA-The Washington, DC-based REIT pays $43.8 million for 331,950 sf in Corporate Technology Centre, giving it seven of the eight buildings that comprise the 604,870-sf office/R&D development.
TORONTO-The 68-story Trump International Hotel & Tower moved a step closer to reality this week when Talon International Development's closed on its acquisition of the project site.
PALO ALTO, CA-Fund II has eight institutional investors including Essex, and seven of them were also investors in Fund I. Using 65% leverage, the Apartment Value Fund will have an investment capacity of about $750 million.
BRAMPTON, ONTARIO-The partnership acquires 47 acres here as part of a $60-million warehouse distribution development that will rise near Pearson International Airport.
PORTLAND-The manufacturer of orthopedic implants has doubled its size since last year's announcement that it would relocate from leased space in Clackamas to owned space in Portland.