Business Specialties
Retail Properties Buys 262 KSF, M-U Property in Bronx for $134M
Retail Properties of America has spent $192 million on two properties in the New York City metropolitan area, including Fordham Place, a 262,000-square-foot Class A mixed-use asset on Fordham Road in the Bronx it purchased for $134 million.
Starwood Wraps Up $1.6B Mall Portfolio Purchase
Starwood Capital Group has just completed its second major portfolio purchase from Westfield Group, snapping up seven regional malls in the West and Midwest for just over $1.6 billion.
C&W Arranges $275M in Financing for Historic NYC Tower
Cushman & Wakefield served as the exclusive advisor to an affiliate of SL Green Realty Corp. in arranging a $275 million, seven-year senior mortgage loan for 220 E. 42nd St. in New York City.
Schorsh’s RCAP to Acquire Summit Financial Services
RCS Capital Corp. continues expanding its independent broker-dealer business by planning a nearly $50 million merger with Summit Financial Services of Florida.
Hunt Completes Purchase of Centerline Holding Co.
Hunt Cos. has completed the previously announced acquisition of Centerline Holding Co., where through a merger, an affiliate of Hunt became the sole holder of Centerline’s common shares, which potentially makes the combined company the largest affordable housing lender.
Title Wave: Where Premium Volume is Growing Fastest
*Title insurance premium volume for second quarter of 2013 compared with Q2 2012. Source: American Land Title Association For more on best practices for working with title insurers in today’s investment market, see “Handle with Care” in the December 2013 issue of CPE.
Shanghai CRED Buys Peppers Carrington Resort in New Zealand
Shanghai CRED Real Estate has purchased Peppers Carrington Resort in New Zealand and plans to invest millions of dollars over the next few years to help the resort reach its full potential.
Essex’s $121M Buy of M-F Portfolio Shows San Diego’s Solid Economy
Essex Property Trust has purchased a 379-unit luxury apartment community in San Diego for $121 million from Wood Partners in an all-cash transaction, as more than 15,000 jobs reportedly are within two miles of the community’s location.
Shanghai Zendai to Develop $8B Financial Hub in South Africa
Hong Kong-based developer Shanghai Zendai Property Ltd. is investing $7.8 billion in the development of a mixed-use project in Johannesburg over the next 15 years.
Steadfast Income REIT Buys 6 Apartment Communities in Houston
Steadfast Income REIT has acquired 1,692 apartments in Houston as part of a six-property portfolio deal that closed in two phases. It is the second investment in Houston in two months and one of many the REIT has made in Texas.
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