Business Specialties
Vornado Refinances NYC’s 11 Penn Plaza for $450M
Vornado Realty Trust has completed a $450 million refinancing of Eleven Penn Plaza, a 23-story, 1.1 million-square-foot Manhattan office building.
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.