Business Specialties
Canada Sells Diplomatic Building in London to Indian Developer for $500M
The Canadian government has sold the iconic Macdonald House in central London to Lodha Group, one of India’s largest real estate developers, for $500M.
Essex Property Enters into Exclusive Negotiations with BRE
Essex Property Trust has made a non-binding proposal to acquire BRE Properties in a negotiated strategic business combination in which each outstanding share of BRE common stock would be exchanged for 0.2971 shares of Essex common stock and $12.33 in cash.
ARCHT to List on National Stock Exchange
American Realty Capital Healthcare Trust will apply to list its common stock on an unspecified national stock exchange (under the symbol HCT).
Jim Scannell: Criteria for Success in Corporate Real Estate
Las Vegas–Being an expert in real estate is not enough to achieve success in the corporate real estate world today, says Jim Scannell, chairman of CoreNet Global. Commercial Property Executive interviews Scannell at the CoreNet Global North American Summit 2013 held in Las Vegas.
Chatham Lodging Buys 160-Key Spring Hill Suites in Savannah
Marking its third acquisition this quarter, Chatham Lodging Trust has purchased SpringHill Suites by Marriott Savannah Downtown/Historic District.
DIC Group Sells Office Tower in Frankfurt Financial District for $211M
Leading German commercial real estate investor DIC has sold the MainTor Porta office tower to Union Investment Real Estate GMBH for approximately $211 million.
Lexington Realty Buys $53M Portfolio of Vet Offices
Lexington Realty Trust has bought a pack of 10 clinics operated by BluePearl Veterinary Partners, the nation’s leading 24-hour emergency pet care provider, for $53 million.
W. P. Carey to Develop Build-to-Suit Office Facility in Germany for $65M
By Barbra Murray, Contributing Editor W.P. Carey has expanded its presence in Europe for the second time in a month. The REIT just announced a build-to-suit contract for a new office property to be occupied by Banco Santander S.A. in Monchengladbach, Germany. The Class A building will cost $65 million to develop and, upon completion, will be occupied by the international bank under a long-term leaseback agreement. “As a 20-year net lease to one of the world’s leading banks for one of their core German assets, the investment is consistent with our strategy of growing our global portfolio with quality…
WTGoodman JV Buys Warehouse Portfolio in Brazil for $1.4B
WTorre SA and the Goodman Group created a joint venture that would focus on the industrial real estate market, buying a massive warehouse portfolio for $1.4 billion.
Beech Street Capital Refinances 8 Housing Communities for $158M
Beech Street Capital closed a refinancing deal on seven Fannie Mae loans for eight housing commmunities totaling $158 million.
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