Wednesday, January 9, 2013

Warren Buffett, JLL Buy Multifamily Brokerage Firms

National Commercial Real Estate News From CoStar Group

Warren Buffett, JLL Buy Multifamily Brokerage Firms

Given investors' exceptionally strong interest in apartments, it was only a matter of time before that interest extended to brokerage firms that specialize in bringing buyers and sellers of apartment properties together, and perhaps providing them with financing at the same time.

In a deal that closed on the last day of 2012, Berkadia Commercial Mortgage, a commercial real estate lender that was formerly part of Capmark Financial and is now owned...

Brown Brothers Harriman Moving to Boston Office Tower

Brown Brother Harriman & Co., a 200-year-old investment bank and securities firm, signed a 15-year lease for 410,297 square feet at 50 Post Office Square in Boston's financial district.

The firm will occupy the entirety of floors seven through 18 and will consolidate its current locations on Milk, Franklin and Water streets into the property. The structure is currently undergoing extensive renovations.

The 779,241-square-foot, 18-story, Class...

RFR Acquires Y&R Headquarters At 285 Madison

RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...

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