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KBS REIT III Buys Downtown Minneapolis Office Building for $118M
KBS Real Estate Investment Trust III has acquired the RBC Plaza, a 678,045-square-foot, mixed-use office building in downtown Minneapolis, from Brookfield Office Properties for $118 million.
Starwood Capital’s Group Du Louvre Sells Four Leading Hotels in France
Starwood Capital Group’s Groupe Du Louvre has sold four premier luxury hotels in France as part of the company’s ongoing plan to monetize the GDL hotel portfolio.
Silverstein Team Buys Beekman Tower, Plans Renovation
The Beekman Tower Hotel in Midtown Manhattan has found a new owner and will soon find a new life. Silverstein Properties and a group of partners have acquired the 174-room hotel from Lone Star and will transform it into a luxury corporate apartment destination.
MEPT Obtains $105M Mortgage for Chicago’s 200 W. Madison
More than a year after paying $217.5 million in cash for 200 W. Madison, a Class A office tower in Chicago’s West Loop, Multi-Employer Property Trust has taken out a $105 million mortgage on the 928,040-square-foot property.
Brookfield Multiplex Completes $54M Green Student Housing in Sydney
Brookfield Multiplex, the international contracting and development company, completed University Terraces, a $54 million green student housing project at the University of New South Wales (UNSW) in Sydney.
Twitter Chat: Rakesh Kishan on Today’s Corporate Real Estate Strategies
Rakesh Kishan, president & executive managing director of real estate and facilities management consulting firm UMS Advisory, chatted with CPE on Twitter about corporations’ post-recession priorities and outsourcing needs.
TCC, Principal to Develop New 456 KSF BTS in Houston
Leading independent energy company Noble Energy has hired the joint venture of Trammell Crow Co. and Principal Real Estate Investors to develop Noble Energy Center Two, a 456,000-square-foot office building located in Houston’s Northwest submarket.
Mack-Cali Constructing M-U Development Project in East Boston
The Roseland subsidiary of the Mack-Cali Realty Corp. has commenced construction on Portside at Pier One, a 176-unit luxury apartment project on the East Boston waterfront.
$7B REIT to Emerge from Spirit, Cole Merger
There are advantages to being one of the big kids on the block and Spirit Realty Capital and Cole Credit Property Trust II Inc. are about to join forces to become part of the higher echelon of publicly traded net-lease REITs.
Sony to Sell Manhattan HQ to Chetrit, Partners in $1B Sale-Leaseback
With commercial real estate investment brokerage and banking firm Eastdil Secured leading the marketing effort, Sony has settled on a buyer for its Manhattan headquarters building at 550 Madison Ave.