International
Canada Sells Diplomatic Building in London to Indian Developer for $500M
The Canadian government has sold the iconic Macdonald House in central London to Lodha Group, one of India’s largest real estate developers, for $500M.
DIC Group Sells Office Tower in Frankfurt Financial District for $211M
Leading German commercial real estate investor DIC has sold the MainTor Porta office tower to Union Investment Real Estate GMBH for approximately $211 million.
W. P. Carey to Develop Build-to-Suit Office Facility in Germany for $65M
By Barbra Murray, Contributing Editor W.P. Carey has expanded its presence in Europe for the second time in a month. The REIT just announced a build-to-suit contract for a new office property to be occupied by Banco Santander S.A. in Monchengladbach, Germany. The Class A building will cost $65 million to develop and, upon completion, will be occupied by the international bank under a long-term leaseback agreement. “As a 20-year net lease to one of the world’s leading banks for one of their core German assets, the investment is consistent with our strategy of growing our global portfolio with quality…
WTGoodman JV Buys Warehouse Portfolio in Brazil for $1.4B
WTorre SA and the Goodman Group created a joint venture that would focus on the industrial real estate market, buying a massive warehouse portfolio for $1.4 billion.
RKF Expands into Canada
RKF, which specializes in retail leasing, investment sales and consulting services, is crossing the border to open its first office in Canada and has named Canadian retail services veteran Steven Alikakos to run the operation in Toronto.
Invel to Buy Stake in NBG Pangaea in Greece for $888M
Invel Real Estate Partners is set to acquire a 66 percent stake in NBG Pangaea Real Estate Investment Co. from the National Bank of Greece, making it the largest real estate transaction in the country.
Al Futtaim Group to Open 2 MSF Cairo City Mall
Al Futtaim’s real estate development and operations division is set to develop Cairo Festival City Mall, Egypt’s first-ever indoor-outdoor shopping center.
Stadium Project Unveiled for 2022 FIFA World Cup in Qatar
The Qatar 2022 Supreme Committee unveiled the design of the new stadium provided by Zaha Hadid that will be constructed in Al Wakrah, one of the Host Cities of the 2022 FIFA World Cup.
Sigma JV to Develop Rental Homes in Britan for $1B
Property developer Sigma Capital Group has formed a $1 billion joint venture with Shariah-compliant Gatehouse Bank for the development of up to 6,600 new rental homes in Britain.
New Ritz-Carlton Hotel to Open in Eastern China in 2015
The Ritz-Carlton Hotel Co. continues to expand in China, with the opening of a new hotel in the former Chinese capital of Nanjing, in Jiangsu Province.
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