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Top Stories November 2008 Rockefeller Group May Seek Financing for $70M Green Office Park The Rockefeller Group Development Corporation is planning a 28-acre green build-to-suit development
in Sanford, Florida, which is outside Orlando. The well-capitalized development group will likely provide all the equity for
the $70 million project, but may look to obtain construction financing over the next few months. The project is entitled for
250,000 square feet of office and 50,000 square feet of retail. Full story
Firm Close to Sale of $26M Build-to-Suit Leased to GSA Birchwood Properties is close to inking an all-cash deal to sell a silver-level LEED-certified property
in Detroit, Michigan that is 100% leased to the U.S. Citizenship & Immigration Services through the General Services Administration.
The buyer is a European pension fund. Full story Advisor Acquires $192M Office Property with an Eye Toward Green Conversion Kennedy Associates Real Estate Counsel, the institutional real estate advisor, and Commonwealth Ventures,
a regional developer and investment management firm, have acquired 185 Franklin Street in downtown Boston from telecomm giant
Verizon. The new owners plan to execute a value-added “green” strategy with an emphasis on energy-efficiency and
other sustainability improvements. Full story
Returns to Investors of RPI Office Properties Near Par with Traditional Assets, Study Finds A new study says that investors holding a portfolio of office properties over the past 10 years
meeting responsible property investing (RPI) criteria would have earned returns at least as good if not better on a risk-adjusted
basis than a comparable portfolio of traditional office buildings. Full story
Sustainable Retail Standard Launched in Europe BRE Global, developers of the BREEAM rating system for green buildings in Europe and the Middle
East, launched the first European standard for sustainable retail property development. Full story
Firms Team Up to Accelerate Innovation in Green Building Navitas Capital and Webcor Builders have announced a long-term strategic partnership agreement
to identify and accelerate innovation in green building. Webcor will assist Navitas in identifying, evaluating and incubating
innovative building materials and advanced technologies focused on green building practices. Navitas will provide capital
and strategic assistance to building companies with significant
technology or process innovation. Full story
REIT Named to Dow Jones Sustainability Index, and Ranked as Leader in S&P
Carbon Disclosure Project Prologis has been named to two Dow Jones Sustainability Indexes (DJSI), the first global indexes tracking
the financial performance of the leading sustainability-driven companies worldwide. The distribution facility developer and
owner also ranked as an industry leader on the Carbon Disclosure Project Report for the S&P 500. Full story October 2008 Texas Teachers Commits $150 million to Green Urban Fund Texas Teacher Retirement System of Texas (TRX) committed $150 million as the lead investor
of a private equity “green” property fund. The vehicle will invest in ground-up office, retail, multifamily and
mixed-use projects in the top 10-15 gateway cities in the U.S. Full story
Group Seeks Equity Partner for $200 Million LEED-ND Project in ConnecticutLeyland Alliance, a Tuxedo, NY-based spec developer is shopping a $200 million
deal to develop a mixed-use “town center” in the town of Mansfield, Connecticut. The developer is looking to team
up with an equity partner over the next three to four months to build the 4-phase project. Full story
Massive Sustainable Development in Boston’s Seaport District to Seek Capital PartnersMorgan Stanley Real Estate Fund (MSREF) and Gale International, a New York-based
developer and investor of office and mixed-use properties, are planning a $3.5 billion sustainable project in South Boston’s
emerging Seaport District. The joint venture will look to bring in outside equity partners and lenders to finance development
of individual parcels over the project’s four-to-seven- year build-out. Full storyCapital Markets Partnership Approves Underwriting Standard; Alliance to Offer Training
in 20 Cities in 2009
The Green Underwriting Committee of the Capital Markets Partnership (CMP), a non-profit alliance of governments
and real estate and finance firms, including Citibank, Wachovia, JP Morgan Chase, Jones Lang LaSalle, Countrywide, Hines Interests,
RREEF, Fannie Mae and PNC unanimously approved green building underwriting standards for commercial and residential buildings.
Full story
Group in Advanced Talks with Construction Lenders for Huge Smart-Growth Project in Suburban BostonCabot, Cabot & Forbes (CC&F), a Boston, MA-based developer of office, mixed-use and industrial
properties, is three to four months away from beginning vertical construction of a huge transit-oriented mixed-use project
in Westwood, MA, about 12 miles south of Boston. The 150-acre is the largest development in the history of suburban Boston.
Full storyLend Lease Communities Partners with National Renewable Energy Lab to Create Zero-Net
Energy CommunitiesLend Lease Communities announced a partnership with the U.S. Department of Energy’s National Renewable
Energy Laboratory (NREL) to develop a framework for delivering entirely renewable energy communities in the United States.
Full story
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