Business Specialties
How to Maintain Servicing Levels When Originations are Down
In the wake of the CMBS industry downcycle during the Great Recession, servicers may be having to figure how to maintain the volume of their business. One strategy may be to acquire other servicing companies.
Interest High in Baltimore Area Industrial Properties
Investors continue to exhibit confidence in the Greater Baltimore industrial market. The low unemployment, close proximity to Washington, DC and Philadelphia, and ease of access to the Port of Baltimore make the area very attractive to industrial users and investors.
$40B Transoceanic Canal Project Resurfaces in Nicaragua
An initiative for the construction of a new canal between the Pacific and the Caribbean is underway after a century of hibernation.
Oxford Properties to Develop Office High-Rise in Downtown Toronto
Oxford Properties Group has unveiled plans to develop the new 40-story Ernst & Young Tower in the heart of downtown Toronto.
Spirit Realty Shareholders Approve Merger with CCPT II
The merger between Spirit Realty Capital and Cole Credit Property Trust II, which will create one of the nation’s largest publicly traded triple-net lease REITs, is moving toward completion now that shareholders on both sides have approved the proposed deal.
New JV to Invest $100M for Recap, Ownership of Chicago’s Prudential Plaza
The iconic 2.2 million-square-foot Prudential Plaza in Chicago will be upgraded and repositioned thanks to a $100 million recapitalization and ownership change at the Class A office towers in the city’s East Loop neighborhood.
Colliers Expands in Germany, Netherlands
Colliers International has acquired controlling interests in Colliers Schon and Lopez Schmitt GmbHand in Trombello Kolbel Immobilienconsulting GmbH, both in Germany, as well as a controlling interest in Urban Properties International Real Estate Management B.V., a leading asset and property management firm in the Netherlands, First Service Corp., Colliers’ parent entity.
World’s Tallest Twisted Tower Unveiled in Dubai
Cayan Investment and Development has inaugurated the world’s tallest twisted building: Cayan Tower. Previously called the Infinity Tower, the 1,017-foot-tall residential tower joins other record-breaking structures in Dubai Marina, such as the world’s tallest hotel – JW Marriott Marquis – and the world’s tallest residential tower – Princess Tower – adding a little “twist” to Dubai’s skyline.
Allied, Brickman Buy NYC’s Historic Brill Building for $186M
Allied Partners and Brickman have something to sing about. The real estate investment company and the private equity firm have completed the acquisition of The Brill Building, the landmark Manhattan tower that has long been synonymous with the music scene, for $186 million.
Chatham Lodging Trust to Acquire Pittsburgh Hyatt Place for $40M
Chatham Lodging Trust has agreed to purchase the 178-room Hyatt Place Pittsburgh/North Shore near downtown Pittsburgh for $40 million. Scheduled for completion by June 17, the transaction is subject to customary closing requirements and conditions.