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JEMB Leases Store at Manhattan’s Herald Center to Verizon Wireless
JEMB Realty continues leasing up its revitalized Herald Center, a 10-story retail and office property at 34th Street and Broadway, with Verizon Wireless taking 4,500 square feet for its new flagship Manhattan store.
Blackstone Partners on $1.2B Investment Platform for M-U Portfolio in Singapore
Blackstone’s Tactical Opportunities Fund has committed to making a notable investment in Singapore.
Manulife, Allianz to Invest Up to $1B in U.S. CRE
Manulife Asset Management Private Markets has entered into an arrangement with Allianz to co-invest up to $1 billion in U.S. real estate.
ARCP’s Schorsch, Kay Say Goodbye
Both ARCP’s Chairman, Nick Schorsch, and CEO, David Kay, have stepped down from their posts amid accounting errors at the largest publicly traded net lease REIT.
Kimco Buys Out Blackstone in 39-Property Portfolio
Kimco Realty Corp. has acquired the remaining 66.6 percent interest in the 39-property Kimstone portfolio that it originally owned with a joint venture partner, a subsidiary of Blackstone Real Estate Partners VII, for $925 million.
MetLife Acquires Fairmont Hotel in DC
The 415-room Fairmont Hotel in Washington, D.C., has changed hands, with MetLife, Inc. buying the luxury property from Ivanhoe Cambridge for $180 million.
Hudson Pacific Properties to Buy $3.5B Blackstone Office Portfolio
In a stock-and-cash transaction valued at $3.5 billion, Hudson Pacific Properties has agreed to acquire Equity Office Properties’ approximately 8.2 million-square-foot San Francisco Peninsula and Silicon Valley office portfolio from Blackstone Real Estate Partners V and VI.
Clarion, Griffin JV Acquires 533 KSF San Antonio Office Building
A joint venture between Clarion Partners and Griffin Partners has purchased the Bank of America Plaza, a 28-story office building in downtown San Antonio.
INTERNATIONAL: Lockheed Martin, Concord Blue to Build 5-MW Bioenergy Facility in Germany
American aerospace and defense giant Lockheed Martin has partnered with global waste management company Concord Blue to build a five-megawatt power generation facility in the town of Herten, Germany.
CPE 100 Quarterly Sentiment Survey: Executives Eye 2016 as Peak Year; M-F Sector Still Rules
Almost half of the executives surveyed said that peak asset values and transaction volume across property types are still two years away. In the near term, most industry leaders expect stability rather than dramatic improvement.