Business Specialties
Hines Commences 300 KSF Spec Office Project in Denver
Who’s afraid of speculative development? Not Hines. The real estate firm has just broken ground on 1601 Wewatta, a 300,000-square-foot office tower that will sprout up in Denver’s burgeoning lower downtown district.
Brookfield’s Canadian REIT Grabs Bay Adelaide Centre East in Downtown Toronto
Brookfield Canada Office Properties announced plans to buy Bay Adelaide Centre East office tower in downtown Toronto from its parent company, Brookfield Office Properties.
Scion, Virtus Buy $118M Student-Housing Portfolio from ACC
A joint venture between affiliates of The Scion Group and Virtus Real Estate Capital has acquired, from American Campus Communities, a portfolio of three student-housing properties for $118 million.
Mack-Cali to Sell Suburban Philly Office, Land Assets for $233M
Keeping in line with its diversification strategy into multi-family projects and its retreat from non-core office assets, Mack-Cali has struck a deal to dispose of its nearly 1.7 million-square-foot office portfolio and three land parcels in suburban Philadelphia.
Tilal to Expand Muscat Grand Mall in Oman for $130M
Tilal Development Co., the Sultanate’s leading real estate company, recently announced plans for a massive expansion of Muscat Grand Mall.
Spirit, CCPT II Complete $7.4B Merger
The new bigger Spirit Realty Capital will continue to seek out more growth opportunities as it looks to capitalize on the completion of the $7.4 billion merger with Cole Credit Property Trust II, which doubled its size and made it one of the largest publicly traded net-lease REITs in the United States.
Colliers: Midyear, Uneven U.S. Economy Worrisome, but NYC Enjoys Banner First Half
Halfway through 2013, New York City’s office market continues to transcend the uneven national economy, even as economists limit their expectations for the rest of 2013.
CBRE Selects Recipients in Real Green Research Challenge
By Barbra Murray, Contributing Editor CBRE Group Inc. has selected five recipients in its Real Green Research Challenge, a $1 million program launched in December 2012 to fund cutting-edge sustainability research and innovation in commercial real estate. The participants in the program will each receive awards of up to $250,000 to conduct research projects. The five recipient institutions are Stanford University; EURO Institute of Real Estate Management; Cleveland State University and Central Michigan University; Maastricht University; and the Natural Resources Defense Council. There was no lack of interest in RGRC; CBRE received more than 100 submissions. “The overwhelming response to…
Firm Capital Acquires Stake in Montreal Industrial Portfolio
Firm Capital Property Trust is in contract to purchase 50 percent of a Montreal-area portfolio of 25 industrial buildings.
CPA17 – Global Buys 897 KSF H&M DC in Poland
W.P. Carey, a REIT specializing in single-tenant net-lease properties, paid $85 million for an 896,911-square-foot logistics center in Poznan for international retailer H&M Hennes & Mauritz AB.