SAN FRANCISCO-A private investment group adds to its area holdings with a rent-controlled apartment complex atop Nob Hill. The initial cap rate on the investment is 4.8%.
PORTLAND-The decision means the city can continue to issue bonds for economic development, affordable housing, and other urban renewal activities within the Downtown Waterfront Urban Renewal Area.
PARIS-The London-based business park developer is planning its first project in France, an 830,000-sf office development on property situated a few miles south of here between the A6 and A10 motorways.
REDMOND, WA-The Seattle-based insurer sees its original six-year development agreement with the City of Redmond extended out 10 years, expanded by nearly 90,000 sf and stripped of a traffic signaling requirement.
BELLEVUE, WA-The City of Bellevue is asking the Port of Seattle to help fund a study examining the feasibility of expanding Meydenbauer convention center. Assuming the project is found feasible, city officials will be asking for a lot more.
PORTLAND-The Portland City Council this morning will consider two multifamily projects for 10-year property tax exemptions based on their status as transit-oriented developments.
MERCED, CA-The project is Bellevue Ranch, a billion-dollar mini-city that will rise near the new University of California Merced campus over the course of the next eight years.
LAS VEGAS-Buchanan Capital Partners of Newport Beach, CA joint ventures with a Sacramento-based multifamily investor to acquire The Palms, a 200-unit apartment complex located one-half mile east of the Strip.
HONOLULU-In 2003, 138 Hawaii properties sold for a total sales volume of $2.1 billion, setting record highs for both the number of transactions and sales volume. So far this year, there are 133 properties on the market at a combined asking price of $1.4 billion.
TOKYO-Locally based Nomura Securities Co. Ltd. selects the Chicago-based investment management behemoth as an advisor to an early entrant in the growing Japanese market for funds focused on investments in US real estate investment trusts.