Business Specialties
INTERNATIONAL: Brookfield Multiplex to Redevelop Australia’s Largest Hotel
M&L Hospitality tapped Brookfield Multiplex to expand and renovate the Four Points by Sheraton Sydney, Australia’s largest lodging facility.
Patrick Phillips: Industry Pulse
Patrick Phillips, global CEO of the Urban Land Institute, evaluates the commercial real estate industry’s mood and focus, based on the Fall Meeting in New York City.
Clarion, Griffin JV Acquires 533 KSF San Antonio Office Building
A joint venture between Clarion Partners and Griffin Partners has purchased the Bank of America Plaza, a 28-story office building in downtown San Antonio.
INTERNATIONAL: Madison International Acquires 50% Stake in London Office Complex
Madison International Realty has grabbed a 50 percent ownership stake in The Houndsditch Estate, in London, from TIAA Henderson Real Estate.
TGS Buys 5th Largest Industrial Park near Houston from Cedar Crossing
In one of the biggest land sales in the Houston area ever, TGS Cedar Port Partners acquired Cedar Crossing, a 10,897-acre industrial park near Houston, from Cedar Crossing L.P.
Winthrop Sells 500 KSF Philly Office Property
Winthrop Realty Trust continues its liquidation program with the disposition of 1515 Market St., a 500,000-square-foot office property in in Philadelphia.
CT, Prudential JV to Develop 5 Industrial Buildings in Riverside, Calif.
A new $120 million joint venture between CT Realty and Prudential Real Estate Investors has made its first acquisition, of 13.1 acres of land in Riverside, Calif., where the JV plans to develop five industrial buildings.
Bentall Kennedy, MEPT Buy 359 KSF SF Office Tower
Bentall Kennedy, real estate advisor for the Multi-Employer Property Trust, has expanded the fund’s Bay Area holdings with the acquisition of 600 California St., a 20-story, Class A office tower in San Francisco.
CPE 100 Quarterly Sentiment Survey: Executives Eye 2016 as Peak Year; M-F Sector Still Rules
Almost half of the executives surveyed said that peak asset values and transaction volume across property types are still two years away. In the near term, most industry leaders expect stability rather than dramatic improvement.