Business Specialties
Adaptive Reuse in Hospitality: A Q&A with Hilton Worldwide’s Bill Duncan
The hospitality industry is vying to capture business and leisure customers, and transforming existing buildings into distinctive venues is growing in popularity as a way to stay a step ahead of the competition. A prolific developer of adaptive reuse projects, Hilton Worldwide has created one-of-a-kind hotels from a wide variety of properties, ranging from landmark Beaux Arts office buildings and stalled condominium projects to a former military academy. Bill Duncan, global head of the Homewood Suites and Home2 Suites Brands, offered an inside view of adaptive reuse trends and strategy in a Q&A with CPE Senior Editor Paul Rosta….
Hines Sells Industrial, Retail Assets in Mexico to Fibra Uno REIT
International real estate firm Hines has sold a portfolio of five industrial properties and one retail center in Mexico.
Madison Int’l Acquires Interest in Downtown NYC Retail Condo for $68M
Madison International Realty shelled out $68 million on the acquisition of a non-controlling 49 percent interest in a retail condominium at 510 Sixth Ave. in Manhattan.
Meridian Arranges $80M in Financing for 11-Property M-F Portfolio in Chicago
Even though the existing loans weren’t maturing for another one to three years, the owner of an 11-property multi-family portfolio in Chicago decided to refinance now, obtaining $80 million in permanent financing with the help of Meridian Capital Group.
KBS Buys 200 KSF Office Building in Suburban Philadelphia for $63M
KBS Capital Advisors acquired the 205,400-square-foot 1000 Continental Drive in suburban Philadelphia property from private equity real estate fund manager Equus Capital Partners for $63 million.
Brookfield Multiplex to Build $154M Hospital in New South Wales
Global contractor Brookfield Multiplex has received a contract to build the new South East Regional Hospital on a 43-acre site in Bega, New South Wales, for $154 million.
Palmetto to Develop 4,500-Acre Medical Campus in SC; Phase One to Cost $135M
Palmetto Primary Care Physicians and Equity Inc. are developing a $135 million health and wellness campus in Summerville, S.C., featuring two 150,000-square-foot medical buildings.
Auction.com to Auction Woolworth Building in Downtown LA
The historic Woolworth Building at 719-725 South Broadway in downtown Los Angeles will go up for auction on March 10, according to Auction.com.
CBRE Global Investors Buys 330-Unit Apartment Complex in Atlanta from Equity Residential
CBRE Global Investors has boosted its Atlanta multi-family portfolio with the purchase of Alexander on Ponce, a 330-unit apartment complex in the city’s Midtown submarket, from Equity Residential.
IMMOFINANZ-Owned BUWOG to Buy 18K-Unit Portfolio in Germany for $1B
BUWOG, the subsidiary of IMMOFINANZ Group, one of the largest entities of its kind in Europe, is giving the German multi-family market a boost by acquiring an 18,000-unit portfolio for $1.2 billion.
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