Business Specialties
BCRE Trades The James NY Hotel for $85M
Brack Capital Real Estate, a global real estate investment and development company, has sold The James New York, a luxury hotel in the popular SOHO neighborhood, for approximately $85 million to an undisclosed buyer.
Lend Lease, InterContinental Obtain $465M to Build Private Hotels on Army Bases
Lend Lease has secured $465 million in debt financing from Bank of America and is moving ahead with the third and final phase of renovating and developing more than 11,000 hotel rooms on 39 U.S. Army installations with Intercontinental Hotels Group-branded hotels.
Engineering Firm Nears Milestone at $1B NYC Office Tower
The temporary halt in development of Boston Properties’ 1 million-square-foot office project at 250 W. 55th St. in Midtown Manhattan grows smaller and smaller in the rearview mirror as building activity moves closer toward completion, and Arup is the latest participant in the endeavor to achieve a major goal.
Colliers Wins Assignment to Market GSA Portfolio
A $118 million, 16-property office portfolio fully leased to federal agencies through the Government Services Administration is on the market and attracting interest from both U.S. and international buyers.
General Growth Gets $1.5B Refi on 16 Malls
General Growth Properties, U.S. Bank and RBC Capital Markets have closed on a $1.5 billion secured term loan refinancing 16 of GGP’s properties in the United States.
David Durning: Prudential’s Financing Goals for 2013
At the 2013 Mortgage Bankers Association CREF/Multifamily Housing Conference, David Durning, president and CEO of Prudential Mortgage Capital Co., explains Prudential’s targets for balance sheet, Fannie Mae, Freddie Mac and FHA, CMBS and bridge financing for 2013.
JLL’s Marisha Clinton on Emerging Real Estate Markets and Industries
Marisha Clinton, director of research, Capital Markets, at Jones Lang LaSalle, names markets and industries that are on the “to watch” list for real estate investors.
Waterman Completes 75-Year Master Lease at NYC’s 400 Park Ave.
Waterman Interests Inc. signed a new 75-year master lease for the leasehold interest on 400 Park Ave. with Benenson Capital Partners, the longtime owner of the land beneath the 250,000-square-foot property.
Cole Real Estate Investments Purchases Sanofi-Aventis Building for $72.3M
A subsidiary of Cole Corporate Income Trust Inc. acquired Sanofi-Aventis’ property at 55 Corporate Drive in Bridgewater, N.J., from Mack-Cali Realty Corp. for approximately $72.3 million.
DLA Piper Special Report: CMBS Back, REITs Up, Liquidity Plentiful in Capital Markets
Speaking at the DLA Piper 11th Global Real Estate Summit in Chicago yesterday, industry movers and shakers remained only cautiously optimistic about the future of commercial real estate, despite several indicators pointing to a rebirth of the field.