Business Specialties
Select Property Sells Majority of Residences at West Avenue in Dubai Marina
Just five months after launching the project, Select Property has sold more than 90 percent of the units at West Avenue, the first new residential tower in Dubai Marina since 2008.
Franklin Street Buys Atlanta Office Tower from Jamestown for $158M
Franklin Street Properties has purchased the Class A office tower at 999 Peachtree in Atlanta from Jamestown Properties for $158 million.
C&W: Robust First Half Sets Stage for Strong 2013 in Manhattan
Leasing volume is up 11 percent year over year, average Class A asking rents top $75 per square foot in Midtown South and an average $178 million office sale price signals “the return of the mega-deal.”
USGBC’s LEED v4 Passes Ballot, to Launch in Fall
In another win for the environment, the U.S. Green Building Council has voted to adopt LEED v4, an improved update to the world’s most visible green building rating system.
Cole Boosts CCIT Portfolio With 3 Recent Acquisitions
Cole Real Estate Investments has boosted the portfolio of Cole Corporate Income Trust to 35 properties in 17 states with the recent acquisitions of three Class A office buildings in Texas and Massachusetts for $160 million.
ARCP to Absorb ARCT IV, Valued at $3B
Nicholas Schorsch continues building American Realty Capital Properties into a dominating player in the net-lease space with yesterday’s announcement that it is merging with American Realty Capital Trust IV Inc., a public non-traded REIT, in a stock and cash deal worth about $3 billion.
Starwood Reopens Historic Parisian Hotel
Starwood Hotels & Resorts Worldwide unveiled the restored Prince de Galles, a venue that is currently part of the Luxury Collection Hotels & Resorts brand.
ARC NYRR to Buy Office Building in Midtown Manhattan from SL Green for $220M
American Realty Capital New York Recovery REIT has agreed to acquire the office building at 333 W. 34th St. in Midtown Manhattan from SL Green Realty for $220 million, exclusive of closing costs.
Tech Firm Triples HQ with New Silicon Alley Lease in NYC
Midtown South continues to gain steam as Manhattan’s tech hub, and a new startup, PlaceIQ, just staked its claim to office space in the Silicon Alley neighborhood of the submarket with a new lease agreement.
Berkshire Acquires 280-Unit Community in Metro Denver Area
Berkshire Partners has acquired Alta Aspen Grove, a 280-unit luxury garden-style apartment community in Littleton, Colo., from Wood Partners.