Next Century Associates Announces $2 Billion Vision for Century City

Next Century Associates, LLC, a partnership between Los Angeles based real estate investor Michael Rosenfeld and an entity in the D.E. Shaw Group, today unveiled plans for a $2 billion mixed-use project on the 5.75 acre Century Plaza hotel site. The project will feature two soaring towers rising from a grand plaza with a 240 room Five Star hotel and 163 hotel residences, 130 luxury residential condominiums, 100,000 square feet of office, 106,000 square... 

Mayor Rybak Promotes Free Weekend Holiday Parking

Last week, Mayor R.T. Rybak was honored for his work as a strong champion of transportation improvements in the region by the Minnesota Transportation Alliance at the group’s Annual Meeting. This week, he’s up on YouTube, poking fun about his own driving while letting the Metro area in on an early holiday gift from Brookfield Properties–FREE parking at Gaviidae Common, every Saturday and Sunday, from Thanksgiving to Christmas. That’s right,... 

LEEDing the Charge: Downtown Seattles 901 Fifth Avenue Building Achieves LEED-EB SilverTM Certification

RREEF Real Estate and Kennedy Wilson today announced that 901 Fifth Avenue in Seattle, WA, a 41-story 558,607 sq. ft office tower has achieved LEED-EB™ (existing building) Silver certification. The certification marks the completion of one of the largest environmental retrofits in the industry for an existing property and Seattle’s first full city block targeting LEED certification. The new ownership and management of Seattle’s 901 Fifth Avenue... 

The World Bank Group Leases 100% of Office Space at Brookfield Properties’ 1225 Connecticut Avenue in Washington, DC

Brookfield Properties Corporation announced that the World Bank Group has signed a ten-year lease for 100% of the office space at 1225 Connecticut Avenue in Washington, D.C. totaling 227,000 square feet. The World Bank will begin to occupy the premises in the late winter/early spring of 2010. “This long-term agreement with the World Bank is a major achievement for our U.S. operations, and another example of the enduring strength of the DC office... 

Equity One Closes $227 Million Unsecured Revolving Credit Facility and $65 Million Ten-Year Mortgage Financing

Equity One, Inc., an owner, developer, and operator of shopping centers, announced today that it has closed a $227 million unsecured revolving credit facility with Wells Fargo Bank serving as Administrative Agent and Sole Lead Arranger. The new facility has a three-year term with a one-year extension option. In addition, the facility includes an accordion feature under which it can be expanded to $400 million. Borrowings under the facility are priced... 

Urban Restaurant and Retail Marketplace Plans to Open in Summer 2009

U.S. Equities Realty, a leading full-service commercial real estate firm, announced today that it is beginning construction on MetraMarket. Connected to the Ogilvie Transportation Center in the West Loop, MetraMarket is a 100,000-square-foot restaurant and retail development that will enliven the area through its eclectic mix of dining and shopping options. Several of MetraMarket’s tenants are scheduled to open in summer 2009. MetraMarket will...