Business Specialties
Clarion Completes Sale of Waterside Shops in Florida for $155M
Clarion Partners has completed the disposition of a 50 percent interest in Waterside Shops, a luxury retail destination in Naples, Fla., on behalf of the Oregon Public Employees Retirement Fund for approximately $155 million, less assumed debt.
Dermot Sells 14-Building Portfolio in NY for $191M
Dermot Property Associates has sold a 14-building portfolio in New York City consisting of 861 apartments and 41 retail units for $191 million.
Summit Closes Three Hotel Purchases for $72M
Avoiding the end-of-year fog that plagues so many, Summit Hotel Properties kept busy in late December and wrapped up a few acquisitions before 2012 came to a close.
NGKF Parent Buys Partner Firms in Philly, Denver
BGC Partners, the parent entity of Newmark Grubb Knight Frank, has acquired two prominent regional CRE firms, one in Philadelphia and one in Denver.
RADCO Cos. Purchases Seven Georgia-Based M-F Properties in Two Weeks
The RADCO Cos. spent a total of $56 million on seven multi-family communities in Georgia in the closing days of 2012, adding 3,000 units to its portfolio.
Sofitel Luxury Hotels to Open New Property in Bali
Sofitel Luxury Hotels continues to expand across Southeast Asia with the addition of a new property in Bali, one of the world’s most popular holiday destinations.
Caruso Targets a Host of Properties in Central Pacific Palisades for Renovation and Rebranding
The central properties seem to have cost Caruso a total amount in the $40-$50 million range. However, the financial terms of the transaction were not disclosed to the media and an accurate number is currently not available. Most of the properties are currently tenant-free and are 50-60 years old, making them perfect for a complete overhaul. The Times points out that even the tenants in place have clauses in their short-term contracts that stipulate that the owner has the right to modify the property and redevelop the site. Continue reading →
C&W Finds Site for AS Roma’s Soccer Stadium in Rome
Acting on behalf of A.S. Roma S.p.A., Cushman & Wakefield has completed a mission in Italy, by helping identify a site for the development of a new stadium for a Rome-based soccer team.
Revel Resort Nails Down $150M in Additional Financing
Revel AC, the parent company of Revel, the newest popular resort and casino in Atlantic City, N.J., has completed an amendment to its existing revolving credit facility with JP Morgan Chase Bank N.A. as administrative agent and the participating lenders and financial institutions.
Rosemont Buys 381 KSF Nashville Office Complex
Rosemont Realty just increased its footprint in the Nashville, Tenn., office market by 381,000 square feet with the acquisition of Lakeview Place.