Business Specialties
Blackstone, DDR Wrap Up $1.4B Retail Purchase
The Blackstone Group and DDR Corp. have closed a $1.4 billion joint-venture retail purchase six months after announcing the plan to acquire the 46-property shopping center portfolio from EPN Group.
Cassidy Turley Wins 895 KSF Management Contract
Cassidy Turley has landed the 894,000-square-foot management contract for Chevy Chase Pavilion, a mixed-use project in Washington, D.C.
Goodman, Birtcher Form $1.5B Partnership Targeting Industrial Properties
With an eye on developing and acquiring premier industrial and logistics properties in North America, Australia’s Goodman Group has joined forces with California’s Birtcher Development and Investments.
JLL Sells $760M Loan Portfolio for Eurohypo
Jones Lang LaSalle Capital Markets has closed the sale to US Bancorp, Wells Fargo Bank and Blackstone Group of $760 million in loans, JLL announced Tuesday.
Michigan, Canada Officials Announce New Detroit-Windsor Bridge
By Veronica Grecu, Associate Editor On June 15 Michigan Gov. Rick Snyder and Canadian Prime Minister Stephen Harper announced plans for a new bridge linking Detroit and Windsor, Ontario. First proposed nearly ten years ago, work on the new six-lane bridge could start in 2013 or 2014 and it would take at least four years […]
Brookfield Acquires Major London Office Portfolio for $829M
Brookfield Office Properties Inc. has made a major move into Central London as an office property owner with the purchase of interests in buildings totaling 884,000 square feet for $829 million (£518 million) from British property giant Hammerson, its first major foray into Europe.
SL Green Secures NYC’s 373 KSF Lease Renewal, Refinances Property for $230M
The city of New York has decided to stay put in in its 372,500-square-foot home at 100 Church St. in Manhattan, at the same time that building owner SL Green Realty Corp. refinanced the 1 million-square-foot property to the tune of $230 million.
Sunstone Hotel Investors to Purchase Hilton Garden Inn Chicago Downtown
By Gabriel Circiog, Associate Editor Sunstone Hotel Investors Inc. has entered into a purchase and sale agreement to acquire the Hilton Garden Inn Chicago Downtown/Magnificent Mile for a gross purchase price of $91.75 million. The 357-room hotel, located at 10 E. Grand Ave. in downtown Chicago, is expected to generate around $4.1 million of EBITDA […]
Economy Watch: Housing Starts, Job Openings Edge Down
U.S. housing starts fell 4.8 percent in May, while job openings dropped in April. However, housing starts were higher than at the same time last year, while job openings were higher than when the recession ended in June 2009. Meanwhile, the rich really are getting richer, as the number of millionaires increases worldwide–and particularly in Asia.
Economy Watch: Housing Starts, Job Openings Edge Down
U.S. housing starts fell 4.8 percent in May, while job openings dropped in April. However, housing starts were higher than at the same time last year, while job openings were higher than when the recession ended in June 2009. Meanwhile, the rich really are getting richer, as the number of millionaires increases worldwide–and particularly in Asia.