Business Specialties
Vestar, UBS Global Pay $87M for LA Retail Center
Vestar, in a JV with a UBS Global Asset Management fund, has acquired Peninsula Center, a 300,000-square-foot retail center in Los Angeles County, from Principal Real Estate Investors for $87 million in an all-cash transaction.
Alliance Picks Up Chicago’s Burnham Center for $95M
Alliance Partners has acquired downtown Chicago’s 580,000-square-foot Burnham Center office building from Harbor Group International for $94.6 million.
$10B Development Project in Ghana to Feature Tallest Building in Africa
One of the most ambitious development initiatives on the African continent, Hope City Development, recently held a sod cutting ceremony, in the presence of a number of state officials and business partners of the massive project.
Maguire Recapitalizes LA Office Campus with $105M Loan
Maguire Investments has recapitalized Water’s Edge, its two-building, 6.5-acre “creative office campus” in LA’s Playa Vista submarket, with a $105 million loan.
Simon Fairchild & Jim Valente: Global Performance
IPD North America’s Simon Fairchild and Jim Valente comment on which countries and regions are showing the best real estate performance, during IPD’s U.S. Real Estate Investment Forum, at which they released the PREA/IPD U.S. Property Fund Index.
Omni Obtains $250M in Financing for Three Hotels
Omni Hotels Corp. has gotten its hands on a total of $250 million in financing for a group of three properties encompassing the Omni Fort Worth, Omni Houston and Omni Chicago.
Chambers Acquires Interests in 17 JV Assets from Duke Realty
Chambers Street Properties has acquired the remaining interests in 17 properties it owned in a JV with Duke Realty for a reported $98.6 million as Duke continues to divest many of its office holdings to focus more on industrial assets.