Business Specialties
Tishman Develops Class A Project in Bulgaria; Candy Crush Saga Developer Relocates, Expands in Romania
Tishman International has completed the development of a 194,000-square-foot Class A project in Bulgaria. Meanwhile in Romania, mobile games developer King will expand its current operations in the city of Bucharest by leasing 18,000 square feet of space in the Opera Center office property.
Phase 1 of Wharf, M-U Waterfront Development in DC, Breaks Ground
Development of Phase One of the 24-acre, $2 billion The Wharf project along Washington, D.C.’s Southwest Waterfront got underway this week, eight years after it was proposed.
Jaylor Services Gets $65M in Financing for Burger King Portfolio
Affiliates of Jaylor Services are set to get $65 million in financing, courtesy of Ladder Capital, for a 99-property Burger King portfolio located throughout six states.
Related, Oxford Start Construction on NYC’s $700M Hudson Yards Eastern Platform
New York City’s $15 billion, 28-acre Hudson Yards mixed-use project moves closer toward realization with the commencement of construction of the Eastern Platform.
Pivotal Group Sells 3,000-Plus Apartments in West Texas
An affiliate of the Pivotal Group has sold a 21-community, 3,128-unit portfolio of Class B apartments in West Texas to the Related Cos.’ Related Real Estate Recovery Fund.
Paulson & Co. Acquires 2 Oceanfront Resorts in Puerto Rico for $260M
New York-based investment firm Paulson & Co. has purchased a majority interest in the Condado Vanderbilt and La Concha Renaissance Hotel and Tower in San Juan, Puerto Rico.
First Hospitality JV to Redevelop Chicago’s Famed Purple Hotel
First Hospitality Group has entered into a joint venture with North Capital Group to reinvigorate Chicago’s iconic Purple Hotel into the new SpringHill Suites Lincolnwood.
John Manning: Great Opportunities in Condos
John Manning, managing director, capital markets, at JLL, discusses the current apartment development cycle, the condominium market, and apartment investment sales in San Francisco.
HFF Secures $74M in Financing for 295 KSF Property in Coral Gables, Fla.
The premier 295,000-square-foot office and retail property known as 4000 Ponce/The Collection Building just outside of Miami in Coral Gables, Fla., has been refinanced to the tune of $74 million.
NorthStar to Buy $1B Healthcare RE Portfolio from Formation Capital, Safanad
NorthStar Realty Finance, which has been growing its healthcare real estate holdings since former HCP chairman & CEO James “Jay” Flaherty came on board in January, has agreed to acquire a $1 billion seniors housing and skilled nursing portfolio from Formation Capital and Safanad Ltd.