CoStar’s People of Note (Nov. 11)

It’s time to update those contact managers with CoStar’s People of Note, reporting news on significant new CRE hires and promotions. This week’s issue includes the following markets: Toronto, Detroit / Grand Rapids, Boston, Atlanta, Minneapolis / St. Paul, Chicago, Baltimore, New York City, South Florida, Orange County, San Francisco and East Bay. .field_set{display: block;margin-left: 2px;margin-right: 2px;padding-top: 0px;padding-bottom: 7px;padding…

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Transwestern Investment Group Closes $160 Million Value-Add Real Estate Fund

Transwestern Investment Group (TIG) held closing on its TSP Value and Income Fund I, with total commitments of approximately $160 million. Fund managers plan to principally invest in low-risk industrial and office assets in major and secondary markets with strong job growth and economic drivers, supply constraints and liquidity. “Our guiding philosophy is to provide investors the least risky path to achieve value-add returns,” said Scott Fitzgerald…

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Office Lease Up (October 31) Nothing But Net as Oxford, Crown JV Sinks 175,000-SF Lease Extension with NBA

Not to be outdone by MLB’s announcement last week of a 400,000-square-foot lease at 1271 Sixth, the National Basketball Association (NBA) has signed a 175,000-square-foot lease extension through 2035 at 645 Fifth Ave. in New York City. Olympic Tower is a 21-story, 419,000-square-foot, 4-Star office and residential tower built owned by Oxford Properties Group, the real es

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Banyan Street Capital, Oaktree Commit to Downtown Atlanta with $268 Million Purchase of 191 Peachtree

Miami, FL-based Banyan Street Capital and Oaktree Capital Management out of Los Angeles have secured a landmark office tower in downtown Atlanta with the long-standing venture’s purchase of 191 Peachtree from Cousins Properties (NYSE: CUZ) for $268 million, or approximately $220 per square foot. Cousins paid $153 million back in 2006 for the 50-story, 1.2 million-square-foot 191 Peachtree tower, which delivered in 1991 at 191 Peachtree St. NE…

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HFF Taps Barton as Managing Director in Atlanta

John Barton has joined HFF as a managing director in the firm’s Atlanta office. Working alongside managing director Ralph Smalley and associate director Kelly Kuykendall, Barton will work to expand HFF’s office investment sales practice throughout Atlanta and the Southeastern U.S. Barton joins HFF after having spent the last 16 years with Parkway Properties most recently as a senior vice president and managing director. During his time with Parkway…

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Pretium Partners Raising $1 Billion to Buy More Single-Family Rentals

Betting that rents and home prices will continue to rise, New York-based real-estate investment firm Pretium Partners LLC is raising $1 billion to fund its third push into buying single-family homes. In addition, last week the group also was a successful bidder on two non-performing home loan portfolios sold by Freddie Mac. SFR The new fundraising effort will be Pretium’s third single-family rental fund. The group has about $3.7 billion of…

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Union Investment Taps PMRG to Manage Recently Acquired Ten 10th St. Office Bldg. in Atlanta

Union Investment, an international investment company based in Hamburg, Germany, has selected Houston-based PM Realty Group (PMRG) to provide management services for the company’s recently acquired Ten 10th St. office property in Midtown Atlanta. Union Investment plans to extensively renovate the lobby and common areas of the 14-story, 421,417-square-foot, Class A building the company acquired this past August for $150.5 million. PMRG’s Bill…

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Office Lease Up (September 26) Allergan Leases 431,000 SF in Madison

Allergan, a global pharmaceutical company, has signed a 13-year, full-building lease totaling 431,495 square feet of class A office space at 5 Giralda Farms in Madison, NJ. Allergan will be closing their Parsippany, Bridgewater and Jersey City locations, consolidating more than 1,800 employees in a single location. The 5G building was constructed in 1992 and was previously occupied by Pfizer’s animal health subsidiary Zoetis, Inc. Lakestar…

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Blue Rock Partners Buys Landings At Oak Hill Apts. in Atlanta

Chartwell Holdings sold the 450-unit Landings at Oak Hill apartments at 4300 Flat Shoals Rd. in Union City, GA to Blue Rock Partners for $23.4 million, or approximately $52,000 per unit. The 469,522-square-foot multifamily community consists of one-, two- and three-bedroom units across 46 three-story buildings. On-site amenities include a fitness center, tennis courts, a swimming pool and on-site property management. Located in the South Fulton…

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Global Logistic Properties to Buy Hillwood’s U.S. Industrial Portfolio for $1.1 Billion

Continuing its buying spree amid industrial fundamentals that have arguably never been better, a deal announced by Global Logistic Properties, Ltd. (GLP) this week to purchase a 15-million-square-foot logistics portfolio from Hillwood Development Co. would solidify the Singapore-based company’s position as the second-largest owner of industrial property real estate in the U.S. Singapore-listed GLP, already the largest owner of logistics property…

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