Business Specialties
Clarion Sells Mexican Shopping Centers to JV Partner
Clarion Partners has sold its 50 percent interest in a 3.2 million-square-foot portfolio of Class A shopping centers in Mexico to its joint venture partner.
Melo Launches Sales for Luxury Miami Condo Tower
The Melo Group has launched sales for Aria on the Bay, an ultra-luxury, 647-unit condominium high-rise in downtown Miami’s Arts & Entertainment District.
AUGUST ISSUE: LIHTC Development Opportunities
Land Rush: Despite tough competition, LIHTC developers are finding sites in major markets.
Shorenstein Gets $170M Loan from MetLife for Manhattan Asset
MetLife Inc. has provided Shorenstein Properties L.L.C. with $170 million in financing for 850 Third Ave., a 21-story, 615,000-square-foot office building on Manhattan’s East Side.
Inland American to Spin Off Lodging Subsidiary
Inland American Real Estate Trust Inc. plans to spin off much of its lodging portfolio, as a publicly traded company called Xenia Hotels & Resorts Inc.
WNC Closes Low-Income Housing Fund
WNC has closed WNC Institutional Tax Credit Fund 39 L.P., a $125 million institutional low-income housing tax credit fund.
INTERNATIONAL: Brookfield Multiplex to Complete Final Stage of Melbourne Apartment Project
By Adriana Pop, Associate Editor Leading global contractor Brookfield Multiplex has been appointed by Far East Consortium to design and build the fourth and final stage of the massive Upper West Side residential and retail development in Melbourne’s CBD. Valued at nearly $149 million (AUD 160 million), the new 53-story building at 33 Rose Lane will provide 641 apartments, along with a large retail arcade with room for 11 tenancies, a communal swimming pool and a gym. Scheduled for completion in November 2016, the project will target a 4 Star Green Star Multi-Unit Residential V1 Design rating, under a 2009…
CBRE GMM Closes Asia with $236M in Commitments
CBRE Global Multi Manager has completed the final close of the Asia Alpha Plus III Fund.
INTERNATIONAL: Deloitte Puts $1B Price Tag on The Gherkin Building
An overseas buyer is reportedly set to become the new owner of London’s iconic Gherkin Building, which has been put up for sale.
ABM Acquires NoCal HVAC Service, Energy Solutions Provider
ABM Building & Energy Solutions has acquired Airco Commercial Services Inc., a Northern California provider of HVAC service, energy solutions and building controls located in Sacramento, Calif.
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