Business Specialties
CalPERS Fund Buys LA-Area Buildings from Hines for $550M
TechCore, a fund managed by GI Partners, has purchased One Wilshire, a 30-story Class A telecom and office building in downtown Los Angeles, as well as three buildings in the L.A. suburb of El Segundo, for a total of $550 million.
Harrison Street Closes $2.5B Fund
Harrison Street Real Estate Capital originally set its sights on raising $650 million in equity capital for Harrison Street Real Estate Partners IV, and the private equity firm has achieved that goal–and handily surpassed it.
Meridian Arranges $230M Loan for JDS’s Purchase of NYC’s Steinway Hall
Plans for a hotel and luxury condo project on West 57th Street in Manhattan are moving forward now that a joint venture led by JDS Development Group and Property Markets Group has acquired Steinway Hall at 109-113 West 57th St.
Cielo Buys 243 KSF Texas Office Tower
Cielo Realty Partners has purchased Neuhaus Tower, a 17-story, 243,000-square-foot office tower in McAllen, Texas, from an affiliate of Brookfield Asset Management for an undisclosed amount.
Allegiance Sells 202 KSF, Two-Building Atlanta Office Park to Cornerstone
Allegiance Realty has sold the 202,000-square-foot The Park at Windward Concourse in Alpharetta, Ga., three years after buying it. Allegiance and Cornerstone Real Estate Advisers, the buyer of the Class A, suburban Atlanta property, are keeping mum on the dollar signs involved in the off-market transaction.
British Land to Buy Paddington Central in London’s West End for $708M
European real estate investment trust British Land is investing around $708 million to buy into Paddington Central, a 1.2 million-square-foot, office-anchored mixed-use development in London’s West End.
Meridian Arranges $155M in Financing for Purchase of Manhattan M-F Property
Meridian Capital Group negotiated $155 million in acquisition financing on behalf of Cammeby’s International for the purchase of the Monterey multi-family property on Manhattan’s Upper East Side.
Behringer, Wood Partners Kick Off $191M Suburban Boston M-F Project
Behringer Harvard and Wood Partners have commenced construction of 22 Water St., a luxury apartment community in Cambridge, Mass., just outside of downtown Boston.
Silverman Buys Third NJ Office, Rebrands Trio as Corporate Campus
Call it the opportunistic office park. Having just purchased the 133,000-square-foot office building at 106 Allen Road in Basking Ridge, N.J., The Silverman Group will now rebrand that building, and two adjacent ones it bought in the last few years, into The Offices at Liberty Corner, a 525,000-square-foot Class A corporate campus.