September 30, 2008 - Washington Capitol Partners Buy Symphony Woods
Washington Capitol Partners LLC has purchased the Symphony Woods Office Center in Columbia, Maryland for $15.6 million according to a Business Journal article. The 93,850 square foot building, trading hands at $166 per square foot, was sold by Liberty Property Trust, represented by brokers Jon Carpenter, Jay Wellschlager, Phil Iglehart and Dennis Malone of [...]
September 29, 2008 - House Rejected New Bailout Bill
In a 205 to 228 vote, the House of Representatives shot down a newly negotiated financial rescue plan Monday afternoon. After a week of intense debate in both party caucuses, House members opposed the bill just five weeks before they face voters in an election that is shaping up as a referendum on the [...]
September 26, 2008 - Average Homeowner Mortgage Woes
Interview with Philip Blumberg of Blumberg Capital Partners discussing what the average homeowner in trouble with their mortage can do to survive, and make the best decision for their life and finances.
September 25, 2008 - Joint Venture Secures Two Massachusetts Office Buildings
A joint venture between Taurus Investment Holdings and DivcoWest has purchased two office buildings in North Reading for an undisclosed price from Teradyne, Inc. The deal was brokered by Dave Pergola and Mark Reardon of CB Richard Ellis‘ New England office. “This is DivcoWest’s sixth acquisition in the Boston area and we continue [...]
September 24, 2008 - Forest City Closes $250 Million in Financing for DC Project
Forest City Enterprises, Inc. has closed on $250 million in n non-recourse construction financing for the initial phase of its Waterfront Station project in Southwest Washington D.C. “Waterfront Station is poised to become a leading mixed-use property in Southwest D.C., and a catalyst for further redevelopment and economic revitalization within this quadrant of the [...]
September 23, 2008 - Arthur Hill & Co. buys older office building in Westshore
Blumberg Property Fund LP sold its three-story office building at 550 N. Reo St. in the Westshore Business District for $9.3 million, or about $122 a square foot. In late 2007, the company announced a $1 million renovation to the 76,397-square-foot building.
September 22, 2008 - LAs Citigroup Center Sells for $280M
Houston, Texas-based Hines has purchased the Citigroup Center in downtown Los Angeles, Calif., for $280M from New York City-based Broadway Partners. The 48-story tower is located at 444 Flower St. in the Bunker Hill/financial district. Built in 1981 and designed by AC Martin & Associates, it contains 891,056 square feet and was renovated [...]
September 19, 2008 - Are We in a Recession?
Interview with Philip Blumberg of Blumberg Capital Partners discussing the conventional definition of recession and the actual state of the economy, loss of equity, and reckless risks in underestimating available debt contraction and low liquidity.
September 18, 2008 - Houston Office Market Hurt by Ike
Hurricane Ike swept through Houston early on the morning of September 14th and left a path of $18 billion in damages, the third costliest storm in US history. Prior to Ike, Houston’s office market was reporting encouraging numbers: according to a CB Richard Ellis report, Houston’s office market recorded an 11.7% vacancy rate in [...]
September 17, 2008 - Boston Building Sells for $167M to German Company
GLL Real Estate Partners of Munich, Germany has paid $167 million for 200 State Street, a 302,143-square-foot retail and office building in downtown Boston according to crefeed.com. Constructed in 1985, the property includes 100 indoor parking spaces as well as retail space on the ground floor known as Marketplace Center. The property sits [...]
