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Apple REIT Six to Merge with Blackstone Affiliate in $1.2B Deal
Less than one month after rejecting an unsolicited tender offer by a group led by MacKenzie Capital Management, Apple REIT Six has signed a deal to be acquired by BRE Select Hotels, an affiliate of Blackstone Real Estate Partners VII.
HUD Announces $621M Deal to Refinance Mortgage Loan for NYC Co-op
Backed by a federal mortgage guaranty program that was extended to a co-operative development for the first time, RiverBay Corp. and Wells Fargo Bank have closed on a $621 million deal to refinance the mortgage at Co-op City in the Bronx.
Carlton Arranges $324M Recapitalization for Four Seasons Hotel Milan
Carlton Group has orchestrated a $324 million financing package deal for the Four Seasons Hotel Milan in Italy for the recapitalization of the 118-room luxury hotel and a discounted loan payoff.
HFF Arranges JV Equity for M-F Development in Austin
HFF has arranged a joint venture between the Hanover Co. and an unnamed private investor to build a five-story multi-housing community on 3.44 acres in the city’s South Lamar neighborhood.
Black Friday Spending Soars Due to Early Store Openings, Mobile Device Shopping
This year, several major retailers across the United States started the holiday shopping season several hours ahead of the traditional Black Friday frenzy.
Indian Hospitality Market Set For A Boom: Two Brands Announce Massive Expansion Plans
India is set to see quite an increase in its hospitality industry after a number of properties were announced and a new venue just held its grand opening.
$100M Financing Deal in Place for Dallas’ 1 MSF M-U Shops at Park Lane
With the assistance of HFF, Northwood Investors L.L.C. has secured $100 million in financing for a segment of the 1 million-square-foot mixed-use development from ING Investment Management.
MetLife JV Buys Iconic Seattle Office Tower
A joint venture comprising MetLife and an institutional real estate investor advised by Clarion Partners has purchased 1201 Third Ave., an Art Deco–inspired Class A building that is Seattle’s second-tallest office tower.
Zeckendorf Kicks Off Development of $500M Condo Project Near United Nations
A groundbreaking event has marked the start of 50 United Nations Plaza, an upscale condominium property adjacent to the United Nations headquarters in Manhattan.
Muss Signs FEMA to 200 KSF Lease for Sandy Regional HQ in Queens; IndCor Donates Space to Red Cross
FEMA has leased about 200,000 square feet at Forest Hills Tower in Queens to serve as its New York City headquarters while it helps residents and business owners in the region recover from Superstorm Sandy. At the same time, IndCor Properties donated 126,000 square feet of space to the American Red Cross, located near hard-hit areas.