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Park Hotels & Resorts Sells Off $317M in Non-Core Assets
The publicly traded lodging REIT—a spinoff of Hilton Worldwide—divested 11 properties, mostly overseas, significantly reducing its exposure in international markets.
Newmark Knight Frank Puts Its Money in Knotel
The commercial real estate services firm’s strategic investment in the customized, on-demand office space provider will give its clients—both tenants and owners—options in the flex space arena.
Trophy Office Campus in Raleigh Commands $135M
The sale of the three-building Lenovo Enterprise Campus in the Research Triangle Park marks 90 North Real Estate Partners’ first disposition in the U.S.
Investcorp, Schnitzer West Refinance Seattle Office Tower
The local HFF debt placement team worked on behalf of the joint venture to secure the $170 million loan through HSBC.
Poll: Security Upgrades in 2018
CPE has a new poll! We want to know which areas of security your firm is focusing on this year.
Industrial Realty Buys IBM’s 1.3 MSF Minnesota Campus
The commercial and industrial real estate investor plans to bring new tenants to the 490-acre property, where IBM will continue to occupy several buildings and, ultimately, a mixed-use development will take shape.
Two Equity Commonwealth Office Assets Fetch $670M
In separate deals, the company has closed on the disposition of both 600 W. Chicago Ave. in Chicago and 1600 Market St. in Philadelphia.
Hyatt to Shed 3 Properties in $1B Deal
The sale of Grand Hyatt San Francisco and two resorts to Host Hotels is tied to the company’s sell-down and asset-recycling programs. Hyatt will continue to manage all three assets.
Sterling Bay Buys Chicago Office Tower for $510M
In its largest purchase ever, the REIT snapped up the 1.6 million-square-foot 600 W. Chicago Ave., home to Groupon’s headquarters, from Equity Commonwealth.
Summit Pointe Realty Unveils $300M VA Mixed-Use Project
The company is developing a 510,000-square-foot world headquarters campus for Dollar Tree in Chesapeake, as part of the Summit Pointe master plan, which calls for as much as 1 million square feet of office space, more than 1,400 residences, 500,000 square feet of retail space and 250,000 square feet of hospitality and conference space.