News

Carr Properties has completed a $300 million convertible debt investment with Israeli insurer Clal while Almanac Realty has committed up to $400 million to Merritt Properties.

It is paying approximately $96 per square foot for the 887,917-square foot JANAF Shopping Yard, including the assumption of $58.4 million of mortgage loans secured by the property.

Yet CBRE reports that foreign investment accounted for 42% of Washington DC's total office investment in 2017, with most of the capital coming from Japan, Norway and Canada.

New York was pushed from its top slot and even must share the No. 1 US spot with Los Angeles in this year's AFIRE survey.

“Our flagship K- and SB-Deals both had exceptional years.”

The market failed to accumulate one million square feet of annual net absorption for the first time in five years, and it was the second consecutive year with negative net absorption in the final quarter.

The median sales price for entering contracts in Brooklyn rose 73% year-over-year with inventory falling more than 22%, while Manhattan new development inventory rose 18% in 2017.

An entity associated with Hana Asset Management Co., is the buyer of the 95%-leased building.