Barbra Murray
Candlebrook, Angelo Gordon Buy Suburban Philly M-F Asset for $83M
Candlebrook Properties and Angelo, Gordon & Co. have snapped up Echelon Glen, an 884-unit apartment complex in Voorhees, N.J., roughly 15 miles outside of Philadelphia.
Property Group Partners Closes Air Rights Purchase for $1.3B M-U Project in DC
The largest contiguous undeveloped site in Washington, D.C., is now well on its way to being transformed into the 2.2 million-square-foot Capitol Crossing mixed-use destination.
Sulentic Becomes CBRE Group CEO
CBRE Group’s new president & CEO, Robert Sulentic, is officially on the job.
Apple REIT Six to Merge with Blackstone Affiliate in $1.2B Deal
Less than one month after rejecting an unsolicited tender offer by a group led by MacKenzie Capital Management, Apple REIT Six has signed a deal to be acquired by BRE Select Hotels, an affiliate of Blackstone Real Estate Partners VII.
IPA Orchestrates $60M Trade of 272-Unit Southern Calif. M-F Asset
Coastal communities are high on investors’ lists and Institutional Property Advisors had no problem securing a buyer for Archstone Ventura Colony, a quality apartment asset located approximately one hour outside of Los Angeles in Ventura, Calif.
Equity Residential Partners with AvalonBay on $16B Archstone Purchase
In an SEC filing, AvalonBay estimates the weighted average capitalization rate for the combined Archstone portfolio to be in the high 4 percent range.
Carlton Arranges $324M Recapitalization for Four Seasons Hotel Milan
Carlton Group has orchestrated a $324 million financing package deal for the Four Seasons Hotel Milan in Italy for the recapitalization of the 118-room luxury hotel and a discounted loan payoff.
New Tenants Signed at Bronx’s 285 KSF Throggs Neck Shopping Center
The Throggs Neck Shopping Center in the Bronx, N.Y., will not open its doors until early 2014, but already the tenant roster is beginning to fill up with national and local businesses.
Zeckendorf Kicks Off Development of $500M Condo Project Near United Nations
A groundbreaking event has marked the start of 50 United Nations Plaza, an upscale condominium property adjacent to the United Nations headquarters in Manhattan.
Behringer Harvard Taps Watt to Head Net Lease Platform
Behringer Harvard is launching a new net lease platform, and the investment manager has tapped longtime industry player Brad Watt to move the effort forward.