Business Specialties
Mesa West Closes Debt Fund with $752M
Mesa West Capital got more than it expected when it closed its Mesa West Real Estate Income Fund III L.P.—$102 million more, to be precise. The debt fund manager raised a total of $752 million in equity commitments, outdoing its target of $650 million.
TIAA-CREF, CNP Assurances Form $1.2B JV for German Retail Properties
TIAA-CREF and CNP Assurances have formed a joint venture to invest $1.2 billion in three retail properties in Germany.
Jones Day Consolidates Offices into Lower Manhattan
Jones Day is making a bet on Lower Manhattan. The global law firm signed a 20-year, 330,210-square-foot lease that consolidates three New York City locations onto floors 27 through 34 of Brookfield Place.
Greenbuild Special Report: Creating a Healthier Built Environment
A master speaker session and subsequent panel of physicians and industry exports tackled the issue of building healthy spaces at Greenbuild yesterday in Philadelphia.
Economy Watch: Negative Equity Nose Dives; Architecture Billings Slow
Negative residential equity dropped in the third quarter, a positive sign for the housing market, and initial unemployment claims fell last week. Less positively, the AIA’s Architecture Billings Index slowed its pace of growth last month.
Goodman to Develop Largest Logistics Facility in Poland, Leased by Amazon
Goodman is developing a 95,000-square-meter 1 million-square-foot) fulfillment center for Amazon in Wroclaw.
Greenbuild Special Report: Learning from LEED’s Critics
The U.S. Green Building Council’s LEED rating system is not without its share of criticism. While the program has yielded the largest push towards the sustainable design, construction, operation and maintenance of the built environment, many say the program does not do enough.
Ivanhoé Cambridge Grabs Premier 1.4 MSF Office Property for $360M
In a partnership with Callahan Capital Properties, Ivanhoé Cambridge acquired 10 and 120 South Riverside Plaza, twin 21-story office towers located smack dab in the Windy City’s central business district, from TIER REIT for $360 million.
Lone Star Funds Acquires 6 MSF Commercial Portfolio
Global private equity firm Lone Star Funds has acquired State Farm’s 23 existing operations centers consisting of 6.2 million square feet in 16 states, through a sale-leaseback agreement.
50-Story Tower Proposed as Part of NYC Seaport Redevelopment
One month after breaking ground on an upscale mall at Pier 17 at Manhattan’s historic South Street Seaport, The Howard Hughes Corp. is proposing more redevelopment at the site, including a new marina and a mixed-use 50-story hotel and apartment tower.