Featured
Sale of US Bank Tower Marks Shift in Downtown LA Market
The newly announced purchase of US Bank Tower, the tallest building in California, is not only a major transaction in itself, at $367.5 million, but also a deal that could send some reverberations through the downtown Los Angeles office market.
TGM Buys Two-Property M-F Community in Chicago Area for $101M
New York-based multi-family investor TGM Associates has purchased TGM Willowbrook, a two- and three-story garden property, totaling 712 units in 76 buildings, located in Willowbrook, Ill., for $101 million.
Inland American Buys Student Housing in Fort Worth
Inland American Communities has purchased The VUE, a high-end student housing property one block from the Texas Christian University campus in Fort Worth.
Hines Global REIT Acquires Two Overseas Properties for $215M
Hines Global REIT spent more than $215 million on two office properties in the past week, one in London and the other in Sydney, as it continues to expand its international portfolio.
Piedmont Acquires 334 KSF Office Building for $176M
Piedmont Office Realty Trust boosted its Washington, D.C., area portfolio this week by acquiring Arlington Gateway, a 12-story, Class A office property and one of the top buildings in the Rosslyn-Ballston corridor, for $176 million.
Starwood Moves Global HQ to Dubai for One-Month Immersion
As of Sunday, about 10 top executives of Starwood Hotels and Resorts Worldwide, including president & CEO Frits van Paasschen, began a month-long relocation of the company’s global headquarters from Stamford, Conn., to Dubai.
Hines Acquires Archstone Enterprises’ Interest in CityCenterDC Project
Hines has acquired Archstone Enterprises’ ownership interest in the two companies’ CityCenterDC mixed-use project, currently under construction in downtown Washington, D.C.
Midtown Manhattan Readies for 470 KSF Cutting-Edge Office Tower
The future is coming to Midtown Manhattan. A partnership comprising real estate company Hines, investment entity Pacolet Milliken Enterprises and institutional investors advised by J.P. Morgan Asset Management have broken ground on 7 Bryant Park, a premier office tower that will deliver 470,000 square feet of state-of-the-art office accommodations in the Bryant Park area.
CBRE Gets $1B in Financing for M-F Greystar, Goldman Portfolio Buy
How do you get your hands on a billion dollars? Greystar Real Estate Partners and Goldman, Sachs & Co. kicked off 2013 with the announcement of plans to snap up an 8,010-unit multi-family portfolio from Equity Residential for $1.5 billion, and now news emerges that CBRE Capital Markets’ Debt & Equity Finance group has helped the joint venture partners cull more than $1 billion to finance the acquisition.
City Center, Angelo Gordon JV Buys 320 KSF Office Space in Minneapolis
A JV of City Center Realty Partners and Angelo, Gordon & Co. has acquired the 320,000-square-foot office portion of the Plaza Seven building at 45 S. Seventh St. in downtown Minneapolis.