Business Specialties
Taconic Closes $220M Fund for CRE Assets in NYC
New York-based Taconic Investment Partners has closed on Taconic New York City Investment Fund L.P., an investment fund with $220 million in committed equity to acquire commercial properties in the NYC area.
Cushman: NYC ‘A Hot Leasing Market’
In its third-quarter overview, Cushman & Wakefield painted a scene of a picturesque New York City leasing market.
DLA Piper Survey: 70 Percent Stay Bearish for the Upcoming Year
The results of DLA Piper’s fifth State of the Market Survey showed that 70 percent of the top executives within the real estate industry — CEOs, CFOs, COOs and other senior positions — are bearish overall on the economy.
Invesco and Partners Buy $880M Bank of America Loan Portfolio
Bank of America has sold an $880 million portfolio of 29 real estate loans to three buyers: a consortium involving two subsidiaries of Invesco Ltd., Square Mile Capital Management L.L.C. and Canyon-Johnson Urban Funds.
City Creek Center M-U on Track Despite Economic Downfall
By Gabriel Circiog, Associate Editor Despite the economic downfall, City Creek Center is taking shape in downtown Salt Lake City. Deseret News reports all residential construction is now complete and the first 20 stores have been announced. Dale Bills, spokesman for City Creek Reserve Inc., the real estate development division of the LDS Church, announced […]
Edge, HSBC Get 100% Ownership in Times Square’s 1540 Broadway
After acquiring a 49 percent stake in 1540 Broadway last November, Edge Fund Advisors has partnered with HSBC Alternative Investments to take the remaining 51 percent stake in the 907,000-square-foot Times Square property.
Phillips Edison, CBRE JV to Purchase $200M of Grocery Assets
Phillips Edison, a shopping-center REIT, and CB Richard Ellis have jointly invested $102 million in equity for the purchase of grocery-anchored shopping centers nationwide.
MetLife Makes $550M in Loans for Class A Properties in San Fran, D.C.
MetLife has originated a $300 million loan for San Francisco’s Bank of America Center and an additional $250 million in loans for the Washington Square Building in Washington, D.C.
Breaking: Ranieri Acquires Deutsche Bank Berkshire Mortgage and its $28B Portfolio
Ranieri Real Estate Partners, in conjunction with private-equity funds affiliated with WL Ross & Co. L.L.C., has just announced its acquisition of Deutsche Bank Berkshire Mortgage, a subsidiary of Deutsche Bank.
GGP, Canada Pension Plan Partner on Plaza Frontenac, Saint Louis Galleria
General Growth Properties and Canada Pension Plan are teaming up, forming a partnership to purchase the upscale 482,000-square-foot Plaza Frontenac and for CPPIB to acquire a minority stake in GGP’s 1 million-square-foot Saint Louis Galleria.