Business Specialties
JLL to Manage 640 KSF at Suburban DC Headquarters Campus
Jones Lang LaSalle’s management responsibilities in suburban Washington, D.C., just grew by 640,000 square feet. The commercial real estate services firm has been tapped by The Meridian Group to manage three buildings at the 18-acre Solutions Plaza corporate headquarters campus in Tysons, Va.
What Vornado’s 655 Fifth Ave. Buy Means for Manhattan’s CRE
Vornado Realty Trust has grabbed another prime Fifth Avenue location just as the retail rents there are passing $3,000 per square foot, paying $278 million for a majority stake in 655 Fifth Ave., a retail and office property with 50 feet of frontage on Manhattan’s Fifth Avenue.
BH3, Gary Cohen Team Up on Upscale South Florida Island M-F Project
There are only so many private islands in South Florida and the last one with development potential, the former North Island at Island Estates in Aventura, Fla., has just been designated for a luxury multi-family project by Privé Development, a newly formed joint venture between BH3 Management and developer Gary Cohen.
Blackstone, DDR Strike $332M Deal
A joint venture of retail REIT DDR Corp. and a Blackstone Group fund has acquired seven shopping centers with a total of 2.4 million square feet in major U.S. cities from a Regency Centers Corp. fund for $332 million, including $207 million of assumed mortgage debt and $28 million of new mortgage debt.
Winthrop Snaps Up 4 Class A Apartment Buildings for $246M
Winthrop Realty Trust has agreed to buy four Class A luxury apartment buildings from ST Residential for an aggregate price of $246 million.
Steadfast Makes Largest Purchase with $80M Austin Apartment Acquisition
Steadfast Income REIT acquired Meritage at Steiner Ranch in Austin for $80 million and The Belmont in the Dallas/Fort Worth Metroplex for $12 million, pushing its portfolio to more than 10,000 units in 43 apartment communities in 10 Midwestern and Southern states.
Tishman Speyer Grabs Iconic Chicago Tower
Global real estate owner, operator and developer Tishman Speyer now has 10 Chicago properties in its portfolio after closing on the acquisition of 190 South LaSalle, a Class A building in the city’s Central Loop, from CBRE Global Investors for a reported $211 million.
Behringer Harvard Buys 240-Unit Suburban Houston M-F Property
Behringer Harvard has expanded the portfolio of Behringer Harvard Opportunity REIT II Inc. with the acquisition of Parkside Apartments in Sugar Land, Texas, approximately 20 miles outside of Houston.
First Ritz-Carlton Hotel to Open in Tel Aviv
One of the largest luxury hotel groups is set to open its first Israeli location – The Ritz-Carlton Herzliya, in an upscale residential town north of Tel Aviv.