Business Specialties
NorthStar Closes $345M Manufactured Housing Portfolio
NorthStar Realty Finance Corp. continues to build up the manufactured housing segment of its holdings by leaps and bounds with the recent $345 million closing of a $400 million portfolio of 16 communities.
KKR Raises $1.5B for Its First RE Fund
Strong interest from a variety of investors helped KKR amass $1.5 billion for its first real estate fund in only six months. The KKR Real Estate Partners Americas fund is now closed and the global investment firm is continuing to put the money to work.
Carey Watermark Investors Buys Renaissance Chicago Downtown for $139M
Carey Watermark lodging REIT picked up the 553-guestroom Renaissance Chicago Downtown Hotel from the Royal Bank of Scotland Group for $139 million, marking downtown Chicago’s largest hotel trade this year.
Blackstone Closes on East Coast Hotel Portfolio for $186M
Blackstone Real Estate Advisors has closed on a 15-property select-service hotel portfolio in seven East Coast and Mid-Atlantic states after securing $186 million in acquisition financing.
Centro Breaks Ground in Downtown Miami
Construction has officially begun on Centro, a $90 million, 37-story, 352-unit residential condominium tower in Miami’s central business district.
Harvest, LaSalle Acquire 233 KSF Office Tower in San Jose
Harvest Properties and LaSalle Investment Management have teamed to acquire 60 S. Market St., a 232,536-square-foot, 14-story Class A office tower located in Silicon Valley’s downtown San Jose, from Ares Management.
Citi Extends 2.6 MSF Lease Agreement at TriBeca Towers in NYC
An affiliate of Citigroup has signed an extension for its triple-net leases at 388 and 390 Greenwich St. in Manhattan’s TriBeCa neighborhood.
Ramco-Gershenson Buys 461 KSF Shopping Center in Cincinnati Suburb
Ramco-Gershenson Properties has just surpassed the half-billion-dollar mark in its annual acquisitions with the purchase of Deerfield Towne Center, a 461,000-square-foot shopping center in the suburban Cincinnati suburb of Mason, Ohio.
Michael Fried: Private Equity Funds in 2014
Michael Fried, founder & CEO of Phoenix Realty Group L.L.C., blogs on CPE’s From the Inside experts blog about what to expect from real estate private equity funds in 2014. Look for quarterly video commentaries from Fried and president Keith Rosenthal on From the Inside.
