Business Specialties
Chambers Street Properties Sells Shopping Center in UK for $63M
In order to focus its efforts on the industrial and office sector, Chambers Street Properties decided to sell its last retail property, Maskew Retail Park on the outskirts of Peterborough, United Kingdom, for $63 million.
Zurich Alternative Buys 174-Unit M-F Complex in Silicon Valley for $87M
Zurich Alternative Asset Management has grabbed a premier apartment community in San Jose with a premier price tag.
INTERNATIONAL: Kempinski Hotels Buys Famed ‘Hotel Rwanda’
Kempinski Hotels has bought the iconic Hôtel Des Milles Collines in the capital city of Kigali, Rwanda that was made famous by the film “Hotel Rwanda” in the early 2000’s.
Blackstone to Acquire Majority Stake in Service King Collision Repair Centers from Carlyle
Two years after its acquisition of Service King Collision Repair Centers helped drive growth of the firm into one of the nation’s largest independent chains of automobile body repair centers, The Carlyle Group has sold its majority stake to Blackstone.
Ramco-Gershenson Grabs 2 Midwestern Malls for $150M
Ramco-Gershenson Properties Trust has acquired two community shopping centers, one in the Twin Cities area and the other in metro Cincinnati, for $150 million.
Seventh Street Breaks Ground on 500 KSF Final Phase of Business Park in Pomona, Calif.
Last chance. Seventh Street Development has broken ground on the fourth and final phase of Mission 71 Business Park, a 2 million-square-foot industrial campus in Pomona, Calif., within the high-demand San Gabriel Valley market.
INTERNATIONAL: LJ Group, Cresco to Develop 552-Unit Student Housing Complex in Berlin
LJ Group has committed a total of $135 million of equity to Cresco Capital Group’s German student housing venture, Cresco Urban Yurt.
CIT to Buy OneWest Bank for $3.4B
Calling it a “transformational transaction,” CIT Group Inc. chairman & CEO John Thain said the New York-based commercial lender would more than double in size if the planned $3.4 billion acquisition of Southern California’s OneWest Bank, N.A. is approved by federal regulators.
Related Fund Management Grabs Fort Lauderdale Condo Hotel for $90M
An affiliate of Related Fund Management, headed by current Miami Dolphins owner Stephen Ross, has acquired the W Fort Lauderdale Hotel, a 346-key hotel in South Florida, from Capri Resorts, for $90 million.