Rosemont Realty, LLC has reportedly acquired One Warren Place and Two Warren Place in Tulsa, Okla. Formerly owned by Parmenter Realty Partners, the two properties are the two largest in Oklahoma. No terms were disclosed at the the amount of the sale.

Rosemont Realty already owns or manages some 16 million plus square feet of commercial office space valued at over $1.5 billion.  This deal adds a total of more than one million additional feet of prime office space to Rosemont’s portfolio. According to the news release, the two properties are leased at 96 percent occupancy currently.

Located at 6100 South Yale, Tulsa, the two towers are part of the 52-acre Warren Place complex there. One Warren Place is a 20 story affair of nearly half a million square feet, while Two Warren consists of another 487,000 plus square feet spread across 19 floors. Daniel Burrell, CEO of Rosemont Realty, offered this about the sale:

“Rosemont is strategically entering the Tulsa market with the acquisition of One Warren and Two Warren. Tulsa’s fast growing energy and natural gas sectors along with its increasingly diverse local economy makes this a compelling investment opportunity for the company.”

Rosemont Realty has acquired nearly four million square feet of Class A and Class B office space in the last year. For more information about this or other deals by Rosemont Realty, please visit their website or view the original press release here.

Sorouh Gates construction – courtesy Sorouh

Aldar, the company that developed Abu Dhabi’s Yas Marina Formula One race circuit, has been massively funded by the government there.  With recent EU economic woes increasing, and the price of oil stagnant, its the companies are a bit “on the ropes” as far as potential profitability and liquidity are concerned. Goldman Sachs and the National Bank of Abu Dhabi are leading talks over the proposed merger, while Credit Suisse advises Aldar, and Morgan Stanley works with Sorouh individually. Challenges remain regardless of any talks however, the country being faced with ever increasing suppl-demand concerns regarding their property holdings.

Shares of the two companies jumped a bit on the news of a potential merger Aldar still being up 35.9 percent year-to-date and Sorouh up 36 percent, according to reports. On a final note here, if attention to a corporate website means anything at all, Aldar’s new one, plus the fact that there has been no press release posted on the old one in a year, shows a company focused elsewhere beyond growth for us. Aldar’s last press release spoke of the Abu Dhabi Education Council penning a deal with the property group in October of 2011.

As for the most recent construction project reports, this PDF from the firm shows a bit of where those billions are tied up. Not to be too critical, but throwing money into such projects as YAS Water World Abu Dhabi at a time when most of the world cannot afford lunch, this is not exactly gripping investment potential.

As for Sorouh, the news front is slightly better online visibility wise at least. The company website shows a release having been made for the completion of the world’s tallest bridge structure of a penthouse at ey residential development. We’re not sure exactly who keeps records of such world records, but Richard Amos, the company’s CFO, looks as if he’s lost some sleep in the 2012 report given below. Not to sound too critical, sometimes the little signs add up to a lot in these matter. It remains to be seen if the two companies will merge, and whether or not any such merger can result in black ink for those concerned.

LA Police Administration Building. Image courtesy of aecom

The real estate club yesterday handed out a “lemon” award for the police administration building for having the shabbiest appearance of all government buildings in the city during its yearly Roses & Lemons prize giving ceremony.

The $450 million building, which opened in 2009 and occupies a whole block down on 1^st Street just opposite the City Hall, was considered to have grounds that are far from perfect – in fact, it was labeled a garbage-strewn eyesore by many, according to the club.

The Lemon Award. Image courtesy of LA Downtown News

“The only groundskeepers we saw were a few volunteers, and they didn’t do much” said the club in a statement.

The Los Angeles Police Department declined to comment on the ‘award’.

As well as shaming those who are less than proud of their appearance though, the Roses & Lemons award ceremony also aims to distinguish a number of accomplishments in the L.A. real estate world, with numerous “rose” awards being doled out.

The refurbished El Dorado hotel. Image courtesy of Style Typepad

One of the biggest winners was the El Dorado hotel on Spring Street. Built in 1914, it was recently restored and converted into luxury condominiums.

Other winners include South Park’s Hygge Danish Bakery, the Urth Caffe located in the Arts District, and the Historic Core’s Bolt Barbers, which is famed for serving beer to its customers and offering police officers a holster-shining service.