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Starwood Capital JV Acquires Sydney Office for $307M
Centuria and BlackRock had owned The Zenith, a two-building office complex in the city’s Lower North Shore, since 2016. The deal marks Starwood’s single largest transaction to date in Australia.
Discovery Labs Plans $500M Philly-Area Coworking Campus
Newly established by MLP Ventures, the platform company will redevelop two campuses in King of Prussia into a 1.6 million-square-foot ecosystem for health-care, life sciences and technology-enabled businesses.
Infinity Hotel San Francisco Joins Ascend Collection
The 75-key property in the city’s Marina District is now part of Choice Hotels International’s growing group of boutique and historic hotels and resorts with local flavor.
Stos Partners Sells San Diego-Area Assets for $34M
In separate transactions, the company has sold a two-building, 170,805-square-foot industrial property in Chula Vista to KKR and a 50,643-square-foot office property in San Dimas to non-profit JJATC.
EverWest Sells Kansas City Office Tower for $118M
With the assistance of HFF, the real estate investment management company landed Platform Ventures as a buyer for the 243,700-square-foot, fully leased trophy asset.
Agave Holdings Lands $100M Loan for Metro Miami Project
The financing covers the initial phase of The Plaza Coral Gables, the first large mixed-use development in Coral Gables, Fla., which will comprise office, multifamily and retail space.
PCCP Buys Portland Office Property for $97M
Park Square offers 296,000 square feet across two buildings in the city’s central business district. Urban Renaissance Group will manage the complex, which was substantially renovated in 2016.
Ashford to Pay $275M for Hotel Management Platform
The Dallas-based company has agreed to purchase the platform from Remington. The business provides services for two Ashford-advised REITs and oversees nearly 90 hospitality properties.
Hospitality Properties Trust Buys $2.4B Portfolio
The company has acquired the 12 million-square-foot collection of assets from Spirit MTA REIT. The properties are net leased to tenants in a wide range of industries across 43 states.
DRA Advisors JV Buys San Francisco Office Park for $265M
Marina Village’s new owners have tapped JLL to spearhead leasing and are primed to transform 200,000 square feet of the 1 million-square-foot property’s available offerings into premier life sciences space.