Business Specialties
Blackstone to Buy UBS’s Majority Stake in 40-Property Retail Portfolio
Blackstone Group L.P. is on the verge of snapping up a majority interest in 40 high-quality shopping centers. UBS, which co-owns the collection of U.S. retail properties with Kimco Realty Corp., will sell its controlling interest to Blackstone for $1.1 billion.
Brookfield Refinances 355 KSF DC Office Building
Brookfield Real Estate Opportunity Fund I has received a $95.5 million first mortgage loan for 64 New York Avenue NE, a 355,000 square-foot office building in Washington D.C.
C&W Expands Mid-Atlantic Presence with Harrisburg, Pa., Office
Cushman & Wakefield is bolstering its presence in the busy I-81 corridor of Central Pennsylvania with the opening of a new office.
SPECIAL REPORT: Liquidity Returns to Commercial Real Estate
The commercial real estate financing industry cautiously greeted the rapid return of liquidity into the sector during the Mortgage Bankers Association’s 2013 Commercial Real Estate Finance/Multifamily Housing Convention & Expo.
IDS, Clarion Buy 70 Acres in Suburban Seattle for Industrial Park
IDS Real Estate Group and Clarion Partners have just acquired a 70-acre site in Kent, Wash., for the development of Stryker Business Center at Pacific Gateway, an industrial complex that will encompass as much as 1.5 million square feet of premier space.
Thor, ASB Close on Manhattan Retail/Office Building for $97M
In the latest of several Manhattan acquisitions for both companies, though their first together, a joint venture of Thor Equities and ASB Real Estate Investments’ Allegiance Real Estate Fund has purchased a five-story, 60,000-square-foot property at 875 Washington St. in Manhattan’s Meatpacking District for $97 million.
Brandywine, Campus Crest Partner to Build $158M Student Housing in Philly
Two REITs and a real estate private equity firm are teaming up to develop a $158 million, 33-story, 850-bed student housing tower at Cira Centre South in Philadelphia’s University City section.
Wewatta & Wynkoop Refinance Two Denver Office Buildings for $74M
Wewatta & Wynkoop, a GE Asset Management and Crestone Partners managed entity, has secured a $74 million loan to refinance 1400 Wewatta and 1401 Wynkoop, two Class A contiguous office buildings totaling approximately 300,000 square feet in downtown Denver.
Western National Nabs 496-Unit Suburban LA M-F for $100M
Western National Realty Advisors wraps up acquisitions under its $200 million Western National Realty Fund II with the purchase of Ironwood and Fairway Palms, a sprawling 496-unit apartment compound in the suburban Los Angeles town of Rancho Cucamonga.
KBS REIT III Buys Downtown Minneapolis Office Building for $118M
KBS Real Estate Investment Trust III has acquired the RBC Plaza, a 678,045-square-foot, mixed-use office building in downtown Minneapolis, from Brookfield Office Properties for $118 million.