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Notable Deals

Citigroup Unloading Real Estate Unit With Billions In Assets

January 27, 2010

Tweet In a bid to raise capital, Citigroup is in advanced talks to unload it’s global real estate group, a group with an estimated $12.5B of real estate assets. This is huge deal and given the size will probably represent a pretty good deal for suitor. Not to mentioned the portfolio is pretty well diversified […]

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Transbay Joint Powers Closes on $171M Loan

January 27, 2010

Tweet The Transbay Joint Powers Authority has closed on a $171M federal loan to help it kickstart the massive Transbay Terminal project in San Francisco. This is a good step in the right direction, though additional funding multiples the size of this loan will ultimately be needed. The entire project will likely end up costing […]

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Tishman Walks on Stuy Town

January 25, 2010

Tweet Tishman Speyer and company has decided to throw in the towel on Stuyvesant Town. This comes as little surprise as they were so far under water on the deal that it would be rather meaningless for lenders to keep them in the deal. Tishman originally paid $5.4B for the asset back in 2006 and […]

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EU Approves Oracle/Sun Micro Merger

January 21, 2010

Tweet The European Commission has given the green light to Oracle’s acquisition of Sun Microsystems. It will be interesting to see what Oracle does with MySQL on the technology front. On the real estate front and headcount front, I have little doubts what Ellison is going to do. It might not happen right away, but […]

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CPS Joining Cassidy Turley

January 14, 2010

Tweet In another bit of exciting local news, Santa Clara-based brokerage company CPS has announced that it will be merging with Cassidy Turley. This news comes on the heels of NAI BT announcing last week that they would join Cassidy Turley. From their press release: CPS is embarking on a change that will set us […]

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Symantec Sells Cupertino Buildings to Walton Street

January 7, 2010

Tweet Cupertino-based Symantec (SYMC: 20.71 +0.15%) has finally closed on the sale of it’s 300,000 square foot building at 20300-20330 Stevens Creek in Cupertino. We first announced the plan by Symantec to sell off its remaining Cupertino assets back in March of 2009. The 20300-20330 buildings began being marketed during the summer and went into […]

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Shake Up in Brokerage – BT Splits From NAI

January 5, 2010

Tweet After undergoing a major re-branding from BT Commercial to NAI BT Commercial a few years ago, BT is making a move again. This time, it is joining up with some firms formerly associated with Colliers to create a new one named Cassidy Turley. BT Commercial is joining Cassidy & Pinkard Colliers, a D.C.-area real estate services […]

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Mervyn’s 365K SF Fremont Warehouse Sold

January 5, 2010

Tweet The 365,000 square foot Fremont warehouse which served as a distribution center for Mervyn’s, has reportedly been sold. We previously reported on the availability of the warehouse space back in February of ’09. The property is 365,000 square feet and sits on about 31.5 acres. It was reportedly sold for about $13M to Global […]

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Giant On The Loose: UBS Seeking 800K SF in New York City

December 28, 2009

Tweet Bloomberg is reporting that UBS is out with a requirement for as much as 800,000 square feet in NYC. This would be a huge deal, though again is most likely not a deal which would be really accretive. UBS AG , Switzerland’s biggest bank, is searching for as much as 800,000 square feet of […]

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Harmonic Leases 188K SF in North San Jose

December 28, 2009

Tweet It’s been a fairly busy December relative to the rest of the year. A couple big deals have been signed, including the Facebook and Rambus deals. Harmonic (HLIT: 6.72 +3.07%) has also made a big move by signing a lease about a week ago for 188,332 SF at Carlyle Realty’s North First Street project […]

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