CAPRE’s Commercial Real Estate Headlines for February 19, 2020: Westbank and Urban Community Announce Development Partnership; Dream Industrial REIT Announces $200 Million Public Equity Offering
Check out the latest deals and developments in commercial real estate for February 19, 2020: Westbank and Urban Community Announce Development Partnership: Real estate development practice Westbank and Urban Community have officially announced their partnership to develop a portfolio of sites in Downtown San Jose. Urban Community has assembled properties, from St. James Park to the SoFA District, with an eye on helping to catalyze positive transformation for the entire area through long-term investments in the community. Westbank, along with frequent partners Peterson Group and OPTrust, have invested in this portfolio of sites and will be partnering with Gary Dillabough and his team at Urban Community on their development in the coming years. With a 25-year history of development and city-building, which began in Canada, Westbank has a history of strong community commitments, through projects including residential, rental and affordable housing, hotels, district energy, creative retail and workspace and public art. Westbank and Urban Community share an ambition to be an integral part of San Jose's transformation into a leading tech and creative economy hub. This collaboration reflects their shared vision, to support the future growth and success of San Jose. Dream Industrial REIT Announces $200 Million Public Equity Offering: Dream Industrial REIT has entered into an agreement to sell, on a bought deal basis, 14,660,000 units of the Trust at a price of $13.65 per Unit to a syndicate of underwriters led by TD Securities Inc. (the “Underwriters”) for total…
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