News/Events
SparrowHawk Buys $400M Midwest Industrial Portfolio
SparrowHawk has completed its largest transaction ever, acquiring a 20-property, 4.4 million-square-foot portfolio located across six Midwest logistics markets. The acquisition price was just under $400 million. The assets are in St. Louis, Cincinnati, Cleveland, Columbus, Dayton and Louisville. The portfolio includes a tenant mix of national and regional companies operating across logistics, distribution, manufacturing,…
Vivmark Residential Launches with $70B Enterprise Value
Shares of Vivmark Residential were up Tuesday afternoon following the launch of trading on the New York Stock Exchange under the VMRK ticker. The merger of equals between Equity Residential and AvalonBay Communities, creating an apartment REIT with a market capitalization of $51 billion and an enterprise value of $70 billion, was finalized Monday. “Our…
Irvine Company’s Chicago Office Portfolio 87% Leased Amid Market Momentum
Irvine Company announced an increase in leasing activity, bringing its national office portfolio to 91% leased. Irvine Company closed its fiscal year with 11 million square feet of leasing activity, including 4.4 million square feet of new leasing and 6.7 million square feet of renewals. In its Chicago office portfolio, Irvine Company is 87% leased,…
Albany Road Snags Loan for Scottsdale MOB Acquisition
Cushman & Wakefield has arranged $19.9 million in acquisition financing for Edwards Professional Park I & II in Scottsdale. Tyler Morss of Cushman & Wakefield’s Healthcare Capital Markets team arranged the debt through an undisclosed regional bank on behalf of the borrower, Albany Road. Located at 10752 N. 89th Place and 8952 E. Desert Cove…
OCVibe’s Scott Frick On Building a $5B District Around Anaheim’s Honda Center
A 100-acre master-planned development is turning the sea of parking lots surrounding Anaheim’s Honda Center into a dense mixed-use district where people can live, work and eat whether or not the Ducks are playing. Henry and Susan Samueli, owners of the National Hockey League’s Anaheim Ducks, are privately financing the large development named OCVibe. Scott…
Pinnacle Group Sells Rights to Upper West Side Apartment Tower for $88M
Pinnacle Group has offloaded another asset, this time on Manhattan’s Upper West Side. The prominent New York City landlord, which put a massive rent-stabilized portfolio into bankruptcy last year, sold its rights to an apartment building at 323 West 96th Street to private real estate company Lightstone Group for approximately $88 million, according to a…
At New York City Council Hearing on Pied-à-Terre Tax, Complaints of a Sloppy Rollout
As a legal battle over New York’s pied-à-terre tax continues, the New York City Council held a hearing Tuesday evaluating the surcharge on second homes. Manhattan Councilmember Gale Brewer led the inquiry against what she saw as a dysfunctional rollout of the tax that included publishing up to 900,000 names and addresses of possible second…
Betting on South Beach Luxury Shopping, Vivienne Westwood Plans to Open Store
Vivienne Westwood is finally getting serious about opening a boutique in Miami’s South Beach. Almost two years after buying the three-story property at 736 Collins Avenue and letting it sit vacant, the luxury fashion brand has submitted an application to build out the property, which dates back to 1921. The 4,356-square-foot ground-floor space would feature…
Get to Know the Broker: Vickey Barron of Compass
Vickey Barron, an associate broker at Compass, knows how to get deals done — and all with the perfect mix of intelligence, charm, charisma and a take-no-nonsense attitude. It’s what makes her one of the best real estate brokers in the business. Barron, 69, has worked on more than 600 sales during her career and…
