realty-trust

Duke/CBRE Realty Trust JV Completes $516M Portfolio Acquisition

by on April 12, 2011

Costar…

A partnership between Duke Realty Corp. and CB Richard Ellis Realty Trust finalized the purchase of 13 office buildings totaling 2.05 million square feet for approximately $342.8 million. The deal, which is the largest transaction in the REIT’s history, concluded a three-phase acquisition involving 20 office properties consisting of 3 million square feet valued at $516 million. Wells Fargo Bank NA provided a $275 million unsecured term loan to…

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Duke/CBRE Realty Trust JV Completes $516M Portfolio Acquisition

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Duke/CBRE Trust JV Completes $516M Portfolio Acquisition

by on April 12, 2011

Costar…

A partnership between Duke Realty Corp. and CB Richard Ellis Realty Trust finalized the purchase of 13 office buildings totaling 2.05 million square feet for approximately $342.8 million. The deal, which is the largest transaction in the REIT’s history, concluded a three-phase acquisition involving 20 office properties consisting of 3 million square feet valued at $516 million. Wells Fargo Bank NA provided a $275 million unsecured term loan to…

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Duke/CBRE Trust JV Completes $516M Portfolio Acquisition

Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

Tagged as: , , , , , , , , , , , ,

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Schottenstein Realty Plans 518M IPO

January 3, 2011

Retail REIT Schottenstein Realty Trust is planning to raise about 5175 million in an initial public offering

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Duke Realty Advances Asset Re-Positioning Strategy

December 30, 2010

Duke Realty Corp. entered into definitive agreements for nearly $1 billion of strategic transactions, consisting of the sale of office assets to an existing joint venture with CB Richard Ellis Realty Trust and the acquisition of a primarily industrial portfolio in South Florida from Premier Commercial Realty. These transactions further advance Duke Realty’s strategy to re-position its asset base from a primarily suburban office portfolio to a predominantly…

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NTEU Sells 1750 H St. NW for $65 Million

November 3, 2010

National Treasury Employees Union sells 1750 H St. NW in Washington, DC, to First Potomac Realty Trust and AEW Capital Management, in a 50/50 joint venture, acquired for $65 million, or about $583 per square foot. The deal was contingent on the buyers…

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CBRE Trust To Buy Part of AOL’s Campus for $144.5M

November 1, 2010

CB Richard Ellis Realty Trust agreed to purchase 694,878 square feet of Class A office space at AOL’s corporate campus in suburban Washington, DC, for $144.5 million. The transaction also includes 22 acres of undeveloped land. CBRE Trust expects to close…

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BioMed to Acquire 405,000-SF Life Science Portfolio

September 8, 2010

BioMed Realty Trust has agreed to acquire a five-property life science portfolio in San Diego, consisting of 405,000 square feet in 14 buildings. The properties, which would increase BioMed’s San Diego portfolio to about 1.8 million square feet, are…

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BioMed to Acquire 405,000-SF Life Science Portfolio

September 8, 2010

BioMed Realty Trust has agreed to acquire a five-property life science portfolio in San Diego, consisting of 405,000 square feet in 14 buildings. The properties, which would increase BioMed’s San Diego portfolio to about 1.8 million square feet, are…

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Brandywine Acquires 1717 Arch for $129M

August 8, 2010

Brandywine Realty Trust said last week that it has acquired the leasehold interest in 1717 Arch St. in Philadelphia. The Blackstone Group sold the 1 million-square-foot office skyscraper for $129 million, or about $125 per square foot. The 53-story…

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CBRE Trust Pays $55M for Boston Area Office Bldg.

June 29, 2010

CB Richard Ellis Realty Trust made its first entry into the New England office market by purchasing a 200,411-square-foot office building in the suburbs of Boston, MA, for $55.56 million. The Gutierrez Co. sold the Class A property for approximately…

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CBRE Trust Pays $55M for Boston Area Office Bldg.

June 29, 2010

CB Richard Ellis Realty Trust made its first entry into the New England office market by purchasing a 200,411-square-foot office building in the suburbs of Boston, MA, for $55.56 million. The Gutierrez Co. sold the Class A property for approximately…

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BioMed Drops $53M on Life Science Bldgs. in Rockville

May 7, 2010

San Diego, CA-based BioMed Realty Trust Inc. recently purchased five buildings on Medical Center Drive in Rockville, MD, for $53 million, or approximately $243 per square foot. The 217,983-square-foot life sciences portfolio is fully occupied by the…

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Piedmont Office Realty Trust, Inc. Prices Offering of Class A Common Stock

February 9, 2010

ATLANTA, Feb. 9, 2010 (GLOBE NEWSWIRE) — Piedmont Office Realty Trust, Inc. (“Piedmont”) has priced its public offering of 12,000,000 shares of its Class A common stock at $14.50 per share. Piedmont’s Class A common stock is expected to begin trading on February 10, 2010 on the New York Stock Exchange under the ticker symbol “PDM.” The underwriters have a 30-day option to purchase up to an additional 1,800,000 shares from Piedmont.

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Real Money (Jan. 14): Capital Raisings, Property Financings

January 13, 2010

First Potomac Realty Trust restructured its unsecured revolving credit facility and one of its bank term loans, extending the maturity on $180 million of debt and increasing its total bank debt capacity by $10 million. The company closed on a new $175…

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180 N. LaSalle Could Sell for $90M

December 31, 2009

Prime Group Realty Trust is looking to dispose of its 180 N. LaSalle asset and Winthrop Realty Trust is eyeing the 38-story tower, according to a report in Crain’s Chicago Business .

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Opportunity Investment Fund I, LLC Announces Amendment to Terms of Tender Offer for 100,000 Shares of Common Stock of Piedmont Office Realty Trust, Inc.

December 16, 2009

NEWPORT BEACH, Calif., Dec. 16, 2009 (GLOBE NEWSWIRE) — Opportunity Investment Fund I, LLC, a Delaware limited liability company, today announced that it is amending certain terms of its previously announced tender offer to acquire 100,000 shares of common stock (“Shares”) of Piedmont Office Realty Trust, Inc., a Maryland corporation, at a purchase price equal to $4.60 per Share, less the amount of any dividends declared or made with respect to the Shares between November 16, 2009 and December 18, 2009 or such other date to which this offer may be extended (the “Expiration Date”), in cash, without interest, upon the terms and subject to the conditions set forth in a Offer to Purchase and a related Letter of Transmittal, as each may be supplemented or amended from time to time (which together constitute the “Offer” and the “Tender Offer Documents”).

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Piedmont Recommends Rejection of Mini-Tender Offer by Opportunity Investment Fund

November 30, 2009

ATLANTA, Nov. 30, 2009 (GLOBE NEWSWIRE) — Piedmont Office Realty Trust, Inc. (“Piedmont”) has been notified of an unsolicited “mini-tender offer” by Opportunity Investment Fund I, LLC (“OIF”) to purchase up to 100,000 shares of stock of Piedmont at a price of $4.60 per share. OIF states the $4.60 per share offer price will be reduced by the amount of any dividends declared or made with respect to the shares between November 16, 2009 and December 18, 2009 or such other date to which the offer is extended. Piedmont is not in any way affiliated with OIF, and believes this offer is not in the best interests of its stockholders. The Board of Directors of Piedmont has carefully evaluated the terms of OIF’s offer and unanimously recommends that stockholders reject OIF’s offer and not tender their shares.

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In The Pipeline: CoStar Development and Construction News for Aug. 16-22

August 19, 2009

In this week’s issue, a physician’s group has purchased seven acres in North Texas to expand its Forest Park Medical Campus. CB Richard Ellis Realty Trust acquires a recently delivered 116,338-square-foot office building from Opus Northwest in Minnetonka…

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