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CorAmerica Invests $90M in Suburban LA Retail Property
CorAmerica has bought Nordhoff Plaza, a Class A community center in Northridge, Calif., for approximately $90 million.
Hyatt Hotel Corp. Opens First Grand Hyatt in Malaysia
Hyatt Hotel Corp. will be opening Malaysia’s first Grand Hyatt, with first-class luxuries and amenities including impressive views of the city, dining on almost every floor, and state-of-the art technology banquet halls and meeting rooms.
LYND Buys M-F Portfolio with $200M Unpaid Principal Balance
By Scott Baltic, Contributing Editor LYND, of San Antonio, Texas, in partnership with Florida Value Partners, of Miami Lakes, Fla., has acquired a portfolio of 11 multi-family properties in a court-appointed receivership sale brokered by CBRE, LYND announced Monday. The original loan balance was $200 million; the purchase price was not disclosed. “This pretty much followed the model of similar transactions we’ve made over the last couple of years,” said A. David Lynd, LYND’s president and COO. “We continue to seek opportunities that align with our investment strategy of acquiring value-add properties where we can effectively use our operating platform…
Pebblebrook Picks Up Starwood’s W Los Angeles – Westwood for $125M
Pebblebrook Hotel Trust bought the W Los Angeles, a premier all-suite property in a bustling area of Westwood that features a meeting space, a spa, a public fitness center and a garage.
Storage Deluxe Closes Half-Billion-Dollar Sale of 1.6 MSF Portfolio to CubeSmart
Storage Deluxe sold a portfolio in the Northeast to CubeSmart for a heavy amount, a transaction handled by HFF on the seller’s behalf.
Sabal Financial Picks Up $96M CRE Loan Portfolio
Sabal Financial picks up another loan portfolio, from The Bank of the West this time, during its recent commercial real estate shopping spree.
McCarthy Breaks Ground on $73M L.A.- Area Transit Center
McCarthy Building began the construction of Bob Hope Airport Regional Intermodal Transportation Center on behalf of the Burbank-Glendale-Pasadena Airport Authority. The center will spread across a 20-acre site, adjacent to the Bob Hope Airport Train Station.
Muhlstein Tapped to Head up Entertainment at JLL
Industry veteran Carl Muhlstein was hired by JLL to spearhead services for clients in the entertainment and creative sectors of Los Angeles.
550-Unit Suburban Boston Apartment Complex Sold for $188M
The luxury apartment complex of Oak Grove Village in Boston is under new ownership. Although the new owner has not been disclosed, the amount of the sale is said to be $188 million.
Jabal Omar Development to Open 10 Hotel Towers in Mecca
Jabal Omar Development is planning to open 10 hotel towers in Mecca, to accommodate the growing number of annual Islamic pilgrimages to the area.
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