Jones Lang LaSalle announced its Capital Markets professionals have secured a $42 million senior mortgage loan for M-M Properties to finance 919 Milam in downtown Houston,. The debt is comprised of $35 million in initial funding and up to $7 million for tenant and capital improvements. The 542,919-sf, 24-story Class A office building is located block bound by Travis, Walker, Milam and McKinney Streets, Leading the Jones Lang LaSalle team on this transaction was Co-Heads of the Real Estate Investment Banking team and Executive Managing Directors Mike Melody, Tom Fish and Managing Director Paul House.
The national delinquency rate for commercial real estate loans is higher than it has been in at least two decades, according to Tom Fink, senior managing director at Trepp and a recent guest on Michael Bull‘s “Commercial Real Estate Show.” for more go to National Gazette.
April 12, 2011 – A partnership of CB Richard Ellis Realty Trust and Duke Realty Corp. has acquired 13 office buildings totalling 2 million sf of multi-tenant space that is 96 percent leased.. The sales price was $343 million. The deal was the largest in CBRE Realty Trust’s history. The buildings in the deal are:
- Norman Pointe I: Minneapolis, MN, 212,722 sf;
- Norman Pointe II: Minneapolis, MN, 324,296 sf;
- The Landings I: Cincinnati, OH, 175,695 sf;
- The Landings II: Cincinnati, OH, 175,076 sf;
- One Easton Oval: Columbus, OH, 125,031 sf;
- Two Easton Oval: Columbus, OH, 128,674 sf;
- Atrium I: Columbus, OH, 315,102 sf;
- Weston Pointe I: Ft. Lauderdale, FL, 97,579 sf;
- Weston Pointe II: Ft. Lauderdale, FL, 97,180 sf;
- Weston Pointe III: Ft. Lauderdale, FL, 97,178 sf;
- Weston Pointe IV: Ft. Lauderdale, FL, 96,175 sf;
- One Conway Park: Chicago, IL, 105,000 sf; and,
- West Lake at Conway: Chicago, IL, 99,538 sf.