Business Specialties
New Ritz-Carlton Hotel to Open in Eastern China in 2015
The Ritz-Carlton Hotel Co. continues to expand in China, with the opening of a new hotel in the former Chinese capital of Nanjing, in Jiangsu Province.
Rockwood Capital Acquires 130 Lytton in Downtown Palo Alto for $53M
In a recent grab for a shrinking market of office space in the San Francisco metropolitan area, Rockwood Capital teamed up with Tarlton Properties to buy 130 Lytton, a 50,000-square-foot building in downtown Palo Alto.
Ashkenazy Buys Manhattan’s 625 Madison Ave. for $400M
The ground lessor’s position at 625 Madison Ave., in Manhattan’s Plaza District, has been purchased by Ashkenazy Acquisition Corp. for $400 million from 625 Ground Lessor.
AEW Buys 375-Unit Apartment Building in NYC from Gotham Organization
AEW Capital Management has acquired New Gotham, a 375-unit rental building at 520 W. 43rd St. on Manhattan’s West Side, from the Gotham Organization and its investor member AIG Affordable Housing for a reported $170 million.
Kite Acquires 10-Property Multi-State Retail Portfolio for $307M
Kite Realty Group has acquired a 10-property, 2.1 million-square-foot retail portfolio from a New York-based real estate private equity firm for $307 million.
Peter Hobbs: Who’s Buying
IPD managing director of research Peter Hobbs talks on CPE TV about prospects for global real estate investment.
Witkoff, Jynwell Close on NYC’s Park Lane Hotel for $660M
An investment consortium led by The Witkoff Group and majority backer Jynwel Capital has acquired the Helmsley Park Lane Hotel in New York City for $660 million from the Leona and Harry Helmsley Charitable Trust.
CCIT Buys 5 Net-Lease Office Properties for $202M
Cole Corporate Income Trust has acquired five single-tenant corporate properties with a total of 733,062 square feet for $202 million, including two in San Jose and one each in Houston, St. Louis and Colorado Springs.
IMMOFINANZ Subsidiary Buys M-F Portfolio in Berlin for $81M
BUWOG, a wholly-owned subsidiary of IMMOFINANZ Group, has bought a 1,185-unit residential portfolio in the greater Berlin area, stemming from an insolvency estate, for $81 million.
WRIT Pockets $307M on First Phase of MOB Portfolio Sale
In two separate transactions with Harrison Street Real Estate Capital, Washington Real Estate Investment Trust closed the sale of office buildings totaling 877,000 square feet, two office assets featuring significant medical office tenancy and a parcel of land for $307.2 million.