Business Specialties
Office Asset in San Diego’s Tech Hub Trades for $10M
MIG Real Estate sold the three-story property in the Sorrento Mesa neighborhood, where technology and medical companies maintain a strong presence.
Vornado Sells $1.2B Stake in NYC Retail Venture
In its latest move to generate big proceeds, the REIT sold a 45.4 percent common equity interest in its Upper Fifth Avenue and Times Square collection.
$2.6B Encore Boston Harbor to Open in June
Believed to be Massachusetts’ largest project ever completed in a single phase, Wynn Resorts’ development will feature a 671-key hotel and a casino with 3,000 gaming positions.
Summit Hotel Properties Sells Multi-State Portfolio for $135M
The company completed the disposition of six assets totaling more than 800 guestrooms, located in Massachusetts, Texas, Minnesota, Utah and California.
Chrysaor Buying ConocoPhillips North Sea Assets for $2.7B
The mega transaction will make the private equity-backed U.K. oil company one of the basin’s largest producers.
Austin Energy to Acquire Nacogdoches Facility for $460M
The transaction is expected to close in mid-2019 and will enable Austin Energy to avoid about $275 million in additional costs over the remaining term of the agreement.
Sizing Up New York City’s Far-Reaching Climate Bill
Real estate investors, developers and advisers are assessing the legislation, which is being praised for its boldness and criticized for focusing on large and medium-sized properties.
Cushman & Wakefield Facilitates $16M CA Industrial Sale
The new owner financed the acquisition with a $10 million loan from East West Bank. A Mitsubishi subsidiary is the only tenant of the 73,000-square-foot building in Poway.
PM Hotel Group to Manage Upcoming South Austin Hotel
The 103-key TownePlace by Marriott is scheduled for completion by October. The property will be located minutes from the recently upgraded Austin International Airport.
Four Seasons Nashville Lands $360M in Financing
HFF orchestrated the debt and equity package for The Congress Group and AECOM Capital’s development of the 232-key hotel and residential project.