In This Update:
Office:
Carlson Center tower to sell for $54M; KDC sells two office buildings to Cole Real Estate for $51M; Meritex Enterprises announces Atlanta office portfolio acquisition; JV buys Tampa office building; Watergate Towers office complex in Emeryville sold for $130 million; Grubb & Ellis Healthcare REIT II acquires three medical office buildings in Texas and Oklahoma; and Brookfield sells Riverside Plaza in Chicago.
Retail:
Kimco Realty reports $151.1M in shopping center acquisitions; Federal Realty acquires Tower Shops in Davie, Florida; Cedar Shopping closes $49.1M property acquisition; Vestar acquires two Southern California centers; Maryland retail center sold to State Pension Fund for $102.5M; Pinole retail center sold; Alameda shopping center sold for $181 million; and Elbit Imaging signs deal for acquisition of seven shopping centers for $75M.
Industrial:
DCT Industrial Trust acquires nine California properties for $79M.
Resort/Hotel:
Hersha Hospitality Trust buying Capitol Hill Suites for about $47.5M; DiamondRock to buy hotel in Times Square; Hilton Alexandria sells for $121 Million; and Sheraton Universal Hotel in Los Angeles sold to Chinese developer; Miami shopping center sells for $95M.
Residential:
JV inks $630 Million in senior living facilities and JV pays $44M for California student housing community.
EQUITY & DEBT UPDATES:
Transwestern Investment refinances offices for $69M; Blackstone reworks $7 Billion debt owed on 2007 office buy from Zell; Philadelphia office tower refinanced through CMBS offering; Freddie Mac funds first mezzanine deal; and Starwood Capital Group buys $157M non-performing commercial loan portfolio.
Government Action & Analysis Updates:
Fed to back new rules to rein in home foreclosure abuses.
Please see full publication below for more information.