Joe Kelly's (bridge-loan) Blog

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Real Estate Agent - Pacific Sun Capital - Commercial Bridge Loans & Investments
RECENT BLOG POSTS
Columbia Development Cos. sold a six-building, 643,555-square-foot medical office portfolio located in Albany, NY and Tampa, FL to Hea-lth-care Trust of America, Inc. for $122.62 million, or $190.54 per square foot. Read more on this story fromCostar here------------------------------------------...
12/10/2010
Google has signed a contract to buy 111 Eighth Avenue, a 15-story brick building of nearly 3 million square feet in the Chelsea submarket of Manhattan, for more than $1.8 billion, a source close to the deal confirmed for CoStar. It's the largest single-asset co-mmercial real estate deal of 2010. ...
12/10/2010
Crews making way for the $4 billion Transbay Transit Center development, one of the largest public/private pro-jects in the U.S., have started demo-lition of the old terminal in downtown San Francisco. Read more on this story fromCostar here------------------------------------------You can instan...
12/10/2010
General Growth Properties Inc. (NYSE: GGP) sold 214,281 sq-uare feet at Gateway Overlook shopping center in suburban Maryland to Washington Real Estate Investment (NYSE: WRE) for $88.35 million, or about $412.50 per square foot. Read more on this story fromCostar here-----------------------------...
12/10/2010
A Hyatt Hotels Corp. affiliate sold three Chicago area hotels to a pa-rtnership between AREA Property Partners and Aimbridge Hospitality for $51 million, or nearly $62,000 per room. Hyatt also agreed to ma-nage the properties under its brand on a long-term basis. Read more on this story fromCosta...
12/10/2010
Colliers International continued its aggressive growth strategy by acq-uiring a controlling interest in The Winbury Group in Kansas City. The firm will now operate as Colliers In-ternational | Kansas City and bec-omes the ninth local CRE firm in the US to be acquired and rebra-nded as Colliers In...
12/10/2010
Brookfield Properties Corp. (NYSE: BPO) closed on its all-cash purch-ase of an eight-story, 305,442-square-foot office building at 650 Massachusetts Ave. NW in Wash-ington, DC. Read more on this story fromCostar here------------------------------------------You can instantly receive news updates ...
12/10/2010
Even though commercial real estate [CRE] asset quality continues to improve gradually on bank's books across the country, it has not tran-slated into additional lending for commercial real estate. In fact, new lending continues to slide in all categories with the exception of multifamily. Read mo...
12/10/2010
Despite the common perception that investors are bidding up prices for any major Class A office building brought to market, an analysis of recent sales activity finds a decided risk aversion to high vacancy among Class A office investors. Read more on this story fromCostar here-------------------...
12/10/2010
The California Public Employees' Retirement System (CalPERS) has shifted the North American assets of its CalEast Global Logistics LLC, valued at $1.9 billion, to GI Partners. In addition, it has transitioned its European industrial assets, valued at approximately $60 million, to RREEF. Read more...
12/09/2010
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