Business Specialties
INTERNATIONAL: Immofinanz Sells Warsaw, Prague Logistics Facilities
Bokserska Distribution Park in Warsaw and Westpoint Distribution Park in Prague sold above book value to Czech and British private investors.
Starwood Opens St. Regis Properties in Kazakhstan
Starwood Hotels & Resorts Worldwide Inc. is moving ahead with its plan to expand into emerging markets by opening The St. Regis Astana and The Residences at The St. Regis Astana in Kazakhstan in 2017.
Economy Watch: Home Price Increases Continue to Slow; Non-Manufacturing Sector Grows
Home prices nationwide, including distressed sales, increased 7.5 percent in June 2014 over the previous year, while economic activity in the non-manufacturing sector grew last month for the 54th consecutive time.
USAA Real Estate JV Grabs 280-Unit Multi-Family Tower in Chicago
USAA Real Estate Co. recently joined forces with Golub & Co. to acquire Chestnut Place, a 280-unit apartment building in Chicago.
Moinian Secures Loan for Manhattan’s Largest Apartment Tower Under Construction
Development of 605 West 42nd St., The Moinian Group’s luxury residential tower, can continue now that the firm has secured a construction loan. The New York-based developer also announced that SL Green has signed on as an investor.
REI Investments Acquires Former GM Indianapolis Plant Property
REI Investments has acquired the former GM Indianapolis Stamping Plant property from RACER Trust. The City of Indianapolis has an option to acquire approximately 56 acres at the western edge of the property, which it is considering for construction of a consolidated city-county justice center.
Q&A with Bellwether President Ned Huffman
Ned Huffman, president of Bellwether Enterprise, talks about the company’s intention to merge with Towle Financial Services.
Bellwether Enterprise to Merge with Towle Financial Services
Bellwether Enterprise Real Estate Capital L.L.C. late last week announced its intention to merge with Towle Financial Services, a full-service mortgage banking firm with offices in Minneapolis and Detroit.
Rockefeller Group Acquires 236 KSF Office Portfolio in Beverly Hills
Rockefeller Group Investment Management Corp. has acquired UTA Plaza and The Ice House, a premier 236,000-square-foot portfolio on Civic Center Drive in Beverly Hills, Calif., from Tishman Speyer.
Grosvenor Buys M-F Asset in Suburban Washington for $108M
Grosvenor Americas has purchased Avalon Fair Oaks, a 491-unit apartment community in Fairfax, Va., and will rebrand the property Wheelhouse of Fair Oaks.