CertainTeed Ceiling and Insulation Products Reach New Heights in Comcast Center

Towering over the Philadelphia skyline at an amazing 58 stories (975 feet), the city’s new Comcast Center is a high-performance sustainable building, with an abundance of features that will conserve energy and reduce impact on the environment. Designed to receive LEED® certification from the U.S. Green Building Council, Comcast Center uses 40 percent less water than the average office building, and the building’s water fixtures will save more... 

Pershing Square Capital Management Defers Discussion on Real Estate Structuring for Target Corporation Until After the Start of 2009

Pershing Square Capital Management, L.P. announced that it will defer discussions with Target Corporation on a potential real estate transaction until after the new year. On October 29, 2008, Pershing Square outlined a potential transaction in which Target would spin-off what it termed “Target Inflation Protected Real Estate Investment Trust” or TIP REIT, a land-only and facilities services real estate investment trust that would include... 

JRK Property Holdings Announces the Acquisition of a 17 Multifamily Property Portfolio Valued in Excess of $285 Million

JRK Property Holdings, Inc. (“JRK”) announced a major multifamily property acquisition from Apartment Investment and Management Company (“AIMCO”) valued in excess of $285 Million. The acquisition was capitalized through a joint venture with JRK Birchmont Advisors, the private equity division of JRK. The portfolio, which represents the third joint venture with JRK Birchmont Advisors and the fourth transaction consummated with... 

GFI Energy Ventures LLC Completes Sale of NORESCO to Carrier Corp.

GFI Energy Ventures LLC announced today the completion of the sale of its portfolio company, NORESCO, one of the largest providers of energy management and performance contracting services in the United States, to Carrier Corp., the world’s largest provider of HVAC and refrigeration solutions and a subsidiary of United Technologies Corp. NORESCO was previously owned by the OCM/GFI Power Opportunities Fund II, L.P., a private equity fund co-managed... 

Austins AIC Ventures Closes 100th Acquisition, Prepares for More

Austin, Texas-based AIC Ventures, L.P., an investment fund manager providing alternative finance solutions to middle-market companies across the United States through office and industrial sale-leasebacks, is celebrating its 100th real estate acquisition. Founded in 1990, the firm’s total transaction value is nearly $1 billion. “Over the past 20 years we’ve seen an increasing demand for sale-leasebacks as a strategic capital solution for middle-market... 

Artis Real Estate Investment Trust announces monthly cash distribution

Artis Real Estate Investment Trust announced that its trustees have declared its regular monthly cash distribution of $0.09 per trust unit (“Unit”) of Artis for the month of November, 2008. The cash distributions will be made on December 15, 2008 to Unitholders of record on November 30, 2008. As at the date hereof, there are an aggregate of 33,054,561 Units and Class B exchangeable limited partnership units of AX L.P. issued and outstanding. Artis... 

URDANG and Onyx Equities Sell White Plains, NY, Office Building for $82 Million

URDANG, part of BNY Mellon Asset Management, and Onyx Equities, LLC, have completed the sale of a 320,000-square-foot office building in White Plains, New York, for $81,775,000. The multi-tenant, fully occupied building at 1311 Mamaroneck Avenue had been part of the URDANG Value-Added Fund, L.P. portfolio, a real estate investment vehicle formed by URDANG Capital Management, Inc. to acquire a portfolio of value-added properties located throughout... 

Prime Group Realty Trust Announces Updated Timing on Sale of 180 North LaSalle Street and Filing of Previously Announced Restatements

Prime Group Realty Trust announced that Younan Properties, Inc. and an affiliate, and the subsidiary of the Company that owns 180 North LaSalle Street in Chicago, Illinois, amended the purchase and sale agreement to extend the originally scheduled closing deadline for the Purchaser’s acquisition of the Property until December 17, 2008, or such earlier date as the parties may each approve. In addition, the Purchaser has the right to further extend... 

Brookwood Financial Partners, L.P. Continues its Lot Acquisition Strategy with the Purchase of Calusa Creek

Brookwood Financial Partners, L.P. announced that its affiliate, Brookwood Value Partners, LLC, has made its second purchase of residential lots in Southwest Florida. Brookwood closed on the acquisition of 106 single-family lots, 118 townhome lots and one commercial lot in Calusa Creek, a planned residential community in Punta Gorda, Florida. In August of 2008, Brookwood purchased 214 residential lots, and contracted to purchase another 140 lots once... 

Younan Properties to Acquire 180 North LaSalle in Downtown Chicago; Latest Purchase Increases LaSalle Office Holdings to 1.4 MSF

Younan Properties, Inc., one of the nation’s fastest-growing, privately held real estate investment and asset management firms, announced today that it is under contract to purchase 180 North LaSalle, a 38-story, Class A office building in the heart of Chicago’s Central Business District. Younan represented itself in the transaction. Jamie Fink of Holliday Fenoglio Fowler, L.P. (HFF) represented the seller, Prime Group Realty Trust. Zaya S. Younan,...