Business Specialties
Blackstone Sells Downtown Philadelphia Hotel
A new owner has emerged for the 757-key property, which will regain the Sheraton brand following a $28 million renovation as part of a new franchise agreement with Marriott International.
Cushman & Wakefield Brokers AZ Industrial Sale
Conor Commercial Real Estate and Globe Corp. sold AZ|60 Industrial for $27 million. The two-building property in Gilbert encompasses 225,600 square feet.
Banyan Street, EII Realty Form New Investment Manager
The freshly minted vehicle, Banyan Street Real Estate Funds LLC, will focus on value-add and opportunistic strategies under the guidance of two former Ell Realty executives.
Petrus Partners Sells NC Office Park
CBRE provided assistance in the $23.2 million disposition of the four-building CentrePort Office Park in Greensboro. The asset previously traded in 2006.
San Jose R&D Property Lands $46M Bridge Loan
Working on behalf of Vertical Ventures, NorthMarq’s San Francisco office secured the financing for Hellyer Oaks, a two-building asset totaling nearly 350,000 square feet.
EDGE Hires New Property Management Director
Christina Martin joins the Washington, D.C.-focused firm’s team, building on more than 15 years of asset management experience with Investment Properties.
Brookfield to Acquire Majority Share of Oaktree
The alternative asset management giant inked a deal to purchase 62 percent of Oaktree Capital Management’s business. Both firms will continue to operate independently.
Marcus & Millichap Brokers $9.1M Sale of Chicago Retail Asset
The 27,780-square-foot property, which is located in one of the highest barriers to entry submarkets in the city, underwent complete renovation in 2007.
National Solar Market Year in Review
The U.S. installed 10.6 gigawatts of solar photovoltaic capacity in 2018, reaching 64.2 gigawatts of total installed capacity, sufficient to power 12.3 million American homes, according to a report of Wood Mackenzie/Solar Energy Industries Association.
HFF Arranges $5.8M Financing for FL Storage
SecYour Storage Property Group received the loan for the acquisition and repositioning of a 289-unit asset located in Melbourne, Fla.