NEW YORK CITY—Most top US office markets saw its vacancy rate fall and asking rents rise in the fourth quarter of last year, driven in large part by leasing in the tech sector, as well as from corporate relocations.
BOSTON—The laboratory availability rate in Cambridge. MA fell to just 2% at the end of 2015 year and in East Cambridge market conditions are now even tighter, despite new construction that came on line and new product currently under construction.
NEW YORK CITY—A partnership of the Hudson Valley Property Group and Phoenix Realty Group has acquired two Mitchell-Lama workforce housing developments in the Belmont section of the Bronx and plans to undertake extensive renovations on both properties.
EVERETT, MA—Wynn Resorts, after deciding this week to put its $1.7-billion casino resort here on hold due to an environmental appeal filed by neighboring Somerville over traffic concerns, released a consultants report that charges that Wynn Everett will not be the sole contributor to added traffic in Somerville.
NEW YORK CITY—TPG has provided Savanna with $45 million in acquisition financing for its recent purchase of 1825 Park Ave., Globest.com has learned exclusively.
GARDNER, MA—Related Beal has increased its affordable housing portfolio in the Boston region with the acquisition of Olde English Village, a 200-unit affordable housing development here.
WHITE PLAINS—A plan to build a sprawling ambulatory care pavilion adjacent to the existing Medical Center was approved Wednesday by the Westchester County Local Development Corp.
NEW YORK CITY—A subsidiary of Vanke Ltd. Co.—China's largest residential developer—along with two US partners based here, has purchased a property that reportedly was owned by a nursing care provider.