Business Specialties
Witkoff, Jynwell Close on NYC’s Park Lane Hotel for $660M
An investment consortium led by The Witkoff Group and majority backer Jynwel Capital has acquired the Helmsley Park Lane Hotel in New York City for $660 million from the Leona and Harry Helmsley Charitable Trust.
CCIT Buys 5 Net-Lease Office Properties for $202M
Cole Corporate Income Trust has acquired five single-tenant corporate properties with a total of 733,062 square feet for $202 million, including two in San Jose and one each in Houston, St. Louis and Colorado Springs.
IMMOFINANZ Subsidiary Buys M-F Portfolio in Berlin for $81M
BUWOG, a wholly-owned subsidiary of IMMOFINANZ Group, has bought a 1,185-unit residential portfolio in the greater Berlin area, stemming from an insolvency estate, for $81 million.
WRIT Pockets $307M on First Phase of MOB Portfolio Sale
In two separate transactions with Harrison Street Real Estate Capital, Washington Real Estate Investment Trust closed the sale of office buildings totaling 877,000 square feet, two office assets featuring significant medical office tenancy and a parcel of land for $307.2 million.
Prudential Parks $324M with Dutch Garage Operator
Prudential Mortgage Capital Co. has provided $324 million of financing to Q-Park, Europe’s second-largest parking company, secured against a portfolio of 13 parking structures, totaling about 8,900 spaces, in the Netherlands.
Deutsche Asset & Wealth Management Achieves LEED V4 Certification in DC Office Building
The 224,000-square-foot 1800 K St. office building, owned by Deutsche Asset & Wealth Management, managed by Transwestern, is the first building in the world to earn certification through the new, more stringent LEED v4 Operations and Maintenance: Existing Building rating system.
SkyRise Miami to be Tallest Florida Tower
Berkowitz Development Group Inc. has announced plans to erect SkyRise Miami, which would carry the title of the tallest building in Florida.
Aimco Breaks Ground on $190M M-F Project in Boston
Apartment giant Aimco broke ground late last week on One Canal Street, a $190 million, 12-story apartment building in Boston’s Bulfinch Triangle area.
Pillar Financial to Acquire Cohen Financial by Year-End
In a deal that’s expected to close by year’s end, longstanding real estate capital services firm Cohen Financial will become part of Pillar Financial, an affiliate of Guggenheim Partners, Guggenheim announced Friday.
Mesa West Closes Debt Fund with $752M
Mesa West Capital got more than it expected when it closed its Mesa West Real Estate Income Fund III L.P.—$102 million more, to be precise. The debt fund manager raised a total of $752 million in equity commitments, outdoing its target of $650 million.