Business Specialties
Title Wave: Where Premium Volume is Growing Fastest
*Title insurance premium volume for second quarter of 2013 compared with Q2 2012. Source: American Land Title Association For more on best practices for working with title insurers in today’s investment market, see “Handle with Care” in the December 2013 issue of CPE.
Shanghai CRED Buys Peppers Carrington Resort in New Zealand
Shanghai CRED Real Estate has purchased Peppers Carrington Resort in New Zealand and plans to invest millions of dollars over the next few years to help the resort reach its full potential.
Essex’s $121M Buy of M-F Portfolio Shows San Diego’s Solid Economy
Essex Property Trust has purchased a 379-unit luxury apartment community in San Diego for $121 million from Wood Partners in an all-cash transaction, as more than 15,000 jobs reportedly are within two miles of the community’s location.
Shanghai Zendai to Develop $8B Financial Hub in South Africa
Hong Kong-based developer Shanghai Zendai Property Ltd. is investing $7.8 billion in the development of a mixed-use project in Johannesburg over the next 15 years.
Steadfast Income REIT Buys 6 Apartment Communities in Houston
Steadfast Income REIT has acquired 1,692 apartments in Houston as part of a six-property portfolio deal that closed in two phases. It is the second investment in Houston in two months and one of many the REIT has made in Texas.
Hines Buys 953 KSF Logistics Facility in Growing German Market
International real estate company Hines has completed one of the largest logistics transactions to take place in central Europe by acquiring the Fiege Mega Centre is a single-tenant e-commerce logistics property located in Erfurt, Germany.
Prudential RE Investments Closes $430M Property Fund V
Prudential Real Estate Investors continues to pick up acquisitions through its $430 million U.S. Property Fund V and is looking ahead to more office and multi-family investments for the fund.
Jay Paul Breaks Ground on San Francisco’s 181 Fremont Tower
Jay Paul Co. broke ground on 181 Fremont St., a 54-story, 684,000-square-foot residential and office tower near the Transbay Transit Center in San Francisco’s South of Market district.
Gibson to Succeed Pelusi as CEO of HFF; Thornton Named President
Veteran HFF Inc. executive Mark Gibson will succeed John Pelusi as the firm’s CEO. Joe Thornton, another longtime leader at the company, will take Pelusi’s place as managing member of HFF’s two operating partnerships and will also assume the title of president. Both appointments, and Pelusi’s resignation, will take effect next April 1.
Hillwood, Sovereign Wealth Fund Wrap First Closing of $1B Industrial Venture
The partners expect to ultimately raise an aggregate $400 million, which they intend to leverage for $1 billion in acquisitions and development over the next three to four years.
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