Business Specialties
Laurus Acquires Two Hilton Airport Hotels in One Week
Laurus Corp., a private real estate investment and development firm, has acquired the Hilton Kansas City Airport hotel in Kansas City, Mo., its fifth hotel this year and the second in less than a week. A few days earlier, the company had closed on the Hilton San Antonio Airport Hotel in San Antonio.
Steelbridge Capital, Apollo Global JV Buys Miami Office Tower
In a JV, Steelbridge Capital and a real estate investment fund managed and advised by affiliates of Apollo Global Real Estate Management have acquired Concorde Centre II, the largest office purchase in Aventura, Fla. this year.
Starhill Closes on Australian Hotel Portfolio Purchase for A$415M
Starhill, a listed Malaysian REIT, has closed on an A$415 million acquisition of three premier Australian hotel properties: Sydney Harbour Marriott Hotel, Brisbane Marriott Hotel and Melbourne Marriott Hotel.
Clarion Buys 408 KSF Office Portfolio in Boston’s Blossoming Seaport District for $129M
It’s been a busy couple of quarters for office transactions in Boston’s Seaport District and the change in ownership of the 408,000-square-foot Fort Point portfolio is among the latest.
MGM Resorts Sells 427 Condo Units at CityCenter Las Vegas for $119M
The bulk condo purchase of 427 residences at Veer Towers in Las Vegas’ CityCenter project shows Vegas’ recovery – though not quite yet.
South African Developer Secures Financing for Retail, Residential projects in Pretoria
Nedbank Corporate Property Finance, a Durban-based financial organization, has reportedly provided a Pretoria developer with crucial financing that will be used in the development of two properties.
Kaufman Coughs Up $56M for 120 KSF Office Building in Manhattan’s Midtown South
In Manhattan’s thriving Midtown South submarket, the office property at 27–35 West 24th St. has just come under new ownership.
Pasha Group Sells Prime Midtown Manhattan Development Site
Pasha Group sold 546 W. 44th St., a prime development site located between 10th and 11th avenues in New York City’s Midtown West submarket. Cushman & Wakefield Inc. represented the company in the deal.
Kilroy to Develop 587 KSF Silicon Valley Office Project for LinkedIn
Kilroy Realty has acquired a 12-acre parcel in Sunnyvale, Calif., where it will build a 587,000-square-foot office complex for popular professional network LinkedIn, under a 12-year leasing agreement and development deal worth $315 million.
Special Report: Off-Campus Housing to Remain Supply Constrained for Foreseeable Future
Campus Crest Communities provided valuable insight on trends impacting the student housing industry earlier this week at its 2012 Investor Day, held in the NYSE boardroom.