Business Specialties
Sigma JV to Develop Rental Homes in Britan for $1B
Property developer Sigma Capital Group has formed a $1 billion joint venture with Shariah-compliant Gatehouse Bank for the development of up to 6,600 new rental homes in Britain.
Hilton to Trade Biggest-Ever Hotel IPO
The nearly century-old Hilton, the world’s largest hotel enterprise, plans to start trading on the New York Stock Exchange next week under the symbol HLT.
Washington Post HQ Sale Put to Bed for $159M
Graham Holdings, formerly The Washington Post Co., has agreed to sell the 470,300-square-foot office property in Washington, D.C., to Carr Properties for $159 million.
Vornado Refinances NYC’s 11 Penn Plaza for $450M
Vornado Realty Trust has completed a $450 million refinancing of Eleven Penn Plaza, a 23-story, 1.1 million-square-foot Manhattan office building.
New Ritz-Carlton Hotel to Open in Eastern China in 2015
The Ritz-Carlton Hotel Co. continues to expand in China, with the opening of a new hotel in the former Chinese capital of Nanjing, in Jiangsu Province.
Rockwood Capital Acquires 130 Lytton in Downtown Palo Alto for $53M
In a recent grab for a shrinking market of office space in the San Francisco metropolitan area, Rockwood Capital teamed up with Tarlton Properties to buy 130 Lytton, a 50,000-square-foot building in downtown Palo Alto.
Ashkenazy Buys Manhattan’s 625 Madison Ave. for $400M
The ground lessor’s position at 625 Madison Ave., in Manhattan’s Plaza District, has been purchased by Ashkenazy Acquisition Corp. for $400 million from 625 Ground Lessor.
AEW Buys 375-Unit Apartment Building in NYC from Gotham Organization
AEW Capital Management has acquired New Gotham, a 375-unit rental building at 520 W. 43rd St. on Manhattan’s West Side, from the Gotham Organization and its investor member AIG Affordable Housing for a reported $170 million.
Kite Acquires 10-Property Multi-State Retail Portfolio for $307M
Kite Realty Group has acquired a 10-property, 2.1 million-square-foot retail portfolio from a New York-based real estate private equity firm for $307 million.
Peter Hobbs: Who’s Buying
IPD managing director of research Peter Hobbs talks on CPE TV about prospects for global real estate investment.