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UGL Taps JLL Alum Lickerman as DTZ CEO
Former JLL CEO of Corporate Solutions Americas Tod Lickerman was appointed as DTZ Global CEO, replacing outgoing DTZ Group president Robert Shibuya come Oct. 14.
Tucker Secures $218M in Financing for Phase I of 1 MSF M-U Development in Fort Lee, NJ
A JV of Tucker Development, Ares Management and Kushner Real Estate has secured $218 million in financing for the initial phase of Hudson Lights, a 1 million-square-foot mixed-use redevelopment of an eight-acre site located at the base of the entrance to the George Washington Bridge in the heart of downtown Fort Lee, N.J.
ConAm Group CEO Forrester Resigns
The ConAm Group of Companies will soon lose its CEO. J. Bradley Forrester, who has held the position at the San Diego-based real estate investment and services firm since 2005, recently announced his resignation.
Google Leases Office Campus at Former Mall in Mountain View, Calif., from Rockwood, Four Corners
Google is leasing 500,000 square feet – the largest lease signed so far this year in Silicon Valley – at the former Mayfield Mall in Mountain View, which is being repurposed by Rockwood Capital and Four Corners Properties into Class A office space.
Design Unveiled for Trump International Hotel in DC
Trump Hotel Collection has released its plan for the $200 million redevelopment of The Old Post Office in Washington, D.C., which will transform the iconic Pennsylvania Avenue landmark into the Trump International Hotel.
Boston Properties to Sell Ownership Interest in Times Square Tower for $684M
Boston Properties has entered into a binding purchase and sale agreement to sell a 45 percent interest in the ground leasehold interest and related tax credits in New York City’s Times Square Tower to an affiliate of Norges Bank for a purchase price of $684 million in cash.
Parkway Buys Thomas Properties for $1.2B
Parkway Properties and Thomas Properties Group will soon become one. The two real estate companies have entered into a merger agreement calling for Thomas Properties to merge with and into Parkway. The $1.2 billion stock-for-stock transaction will leave Parkway shareholders with a 75 percent ownership stake and Thomas shareholders with the remaining 25 percent interest.
Inland Repositioning its Portfolio with Purchase of 2 Westin Hotels for $220M
Inland’s acquisition of the two Westin hotels is part of the company’s long-term strategy to invest in luxury, upper-upscale and urban-upscale properties in the top 25 markets, according to Marcel Verbaas, Inland American Lodging Advisor’s president & CEO.
Greystar Completes Half-Billion-Dollar M-F Portfolio Purchase
Greystar Real Estate Partners’ already substantial portfolio just got quite a bit bigger. The multi-family real estate company recently completed the acquisition of a 4,371-unit portfolio from Inland American Real Estate Trust in a deal valued at $460 million.
H&M Takes 63 KSF Flagship Spot at Re-Envisioned Herald Center in NYC
JEMB Realty’s long-held vision for Herald Center, its 250,000-square-foot office and retail property at the intersection of 34th Street and Broadway in Manhattan, is coming to fruition. The 10-story tower has landed fashion retailer H&M for occupancy of a prominent 63,000-square-foot wraparound retail space under a 25-year lease agreement.