Business Specialties
Allianz Buys Into NYC Skyscraper for $384M
The German insurer purchased a minority stake in the 1.5 million-square-foot office condo leased to WarnerMedia within the new 30 Hudson Yards tower. The majority owner is a joint venture of the Related Cos. and a third-party investor.
Blackstone’s Credit Arm Closes $4.5B Fund
GSO Capital Partners announced the final closing of the GSO Energy Select Opportunities Fund II, one of the largest energy-focused credit funds in the market.
CBRE: Global Office Occupancy Costs Still on the Rise
Spurred by tenants’ desire to attract and retain the best-of-the-best, average occupancy costs for premier office space increased 3.6 percent over a 12-month period, according to a new CBRE report.
Exeter Property Group Buys Phoenix Industrial Asset
The company acquired a 123,754 square-foot warehouse in the Southwest Valley submarket. DAUM Commercial represented both buyer and seller in the off-market transaction.
Corporations, Not Startups, Drive Coworking Surge
Enterprise users are shaking up the real estate industry by demanding better spaces for their employees, say executives at flexible office firms WeWork, Industrious and CommonGrounds Workplace.
Savills Launches Coworking Platform PIVOT
The fully integrated service will be rolled out exclusively in the U.K. and will offer an all-inclusive price point for tenants.
Atlanta Office Property Trades for $120M
Farallon Capital Management and Crocker Partners intend to invest in renovations of the common areas and amenities at the 646,471-square-foot former headquarters of The Home Depot.
Sterling Bay Opens Fulton Market Hyatt
The 200-key extended-stay hotel broke ground in 2018, with the developer financing the project through a $42 million construction loan.
New York Self Storage Portfolio Receives $49M Loan
The three properties encompass a total of 176,000 square feet and benefit from strategic positioning in the Bronx, Mt. Vernon and New Rochelle.
Skanska Agrees to $152M Helsinki Office Sale
The 190,000-square-foot development, set to become the headquarters for the European Chemicals Agency, is under construction and anticipated to be delivered by the end of 2019.