Business Specialties
Hines Buys 953 KSF Logistics Facility in Growing German Market
International real estate company Hines has completed one of the largest logistics transactions to take place in central Europe by acquiring the Fiege Mega Centre is a single-tenant e-commerce logistics property located in Erfurt, Germany.
Prudential RE Investments Closes $430M Property Fund V
Prudential Real Estate Investors continues to pick up acquisitions through its $430 million U.S. Property Fund V and is looking ahead to more office and multi-family investments for the fund.
Jay Paul Breaks Ground on San Francisco’s 181 Fremont Tower
Jay Paul Co. broke ground on 181 Fremont St., a 54-story, 684,000-square-foot residential and office tower near the Transbay Transit Center in San Francisco’s South of Market district.
Gibson to Succeed Pelusi as CEO of HFF; Thornton Named President
Veteran HFF Inc. executive Mark Gibson will succeed John Pelusi as the firm’s CEO. Joe Thornton, another longtime leader at the company, will take Pelusi’s place as managing member of HFF’s two operating partnerships and will also assume the title of president. Both appointments, and Pelusi’s resignation, will take effect next April 1.
Hillwood, Sovereign Wealth Fund Wrap First Closing of $1B Industrial Venture
The partners expect to ultimately raise an aggregate $400 million, which they intend to leverage for $1 billion in acquisitions and development over the next three to four years.
G&L Realty Gets $264M Refi for Southern Calif. Medical Portfolios
US Bank provided Beverly Hills-based G&L with $176.5 million in financing for five medical office and retail properties in the Golden Triangle district of Beverly Hills, plus a $63.5 million loan for a portfolio of three medical office buildings in other major Southern California submarkets.
Inland, MAB Launch $325M Retail Development Plan for Southeast
The joint venture’s five-year development plan will target demographically strong metropolitan areas in the Carolinas, Georgia, Florida, Virginia and Washington, D.C., and is expected to result in the construction of as many as 20 new grocery-anchored shopping centers.
NRP to Develop 348-Unit Apartment Community in Ohio
The NRP Group is developing The Vue, a new four-story, 348-apartment community in Beachwood, Ohio.
Law Firm Renews Lease of 150 KSF Silicon Valley Office Building
Fenwick & West is staying put in its Silicon Valley digs at 400 Castro St. in Mountain View, Calif., for the long term. The law firm recently renewed its lease of every single square foot of office space at the 150,000-square-foot property with owner Tishman Speyer, making its downtown address permanent for the next 15 years.