International
European Hotels Get $200M Facelift Continent-Wide
A number of European properties, part of The Luxury Collection Hotels & Resorts, are in different stages of renovation and restoration, as a result of a continent-wide operation worth $200 million.
Jordan’s Highest Residential Tower Tops Out
Jordan’s future tallest residential tower is well on its way to completion, with developer DAMAC Properties announcing the topping out of the 36-story The Heights.
Special Report: Finding a Framework for Future Global Cities
By 2030 it is likely that 60 percent of the world’s population will be living in an urban setting.
SL Green Sells London Asset for $100M
SL Green Realty Corp and its partner Westcore Properties have sold their shares in the Jersey Property Unit Trust, which owns a long-term leasehold interest in Procession House, a Class A office building in London to a U.K.-based property company for $100 million.
JV Plans $136M Redevelopment Project in Toronto’s Downtown West
RioCan Real Estate Investment Trust, Allied Properties Real Estate Investment Trust and Diamond Corp. have entered into an agreement to purchase the Globe & Mail Lands in Toronto for $136 million. The transaction is expected to close in mid-December 2012.
HOK to Design $269M Italian Biomed Hub
Global design firm HOK has been designated as the lead architect for the Ri.MED Biomedical Research and Biotechnology Center (BRBC) near Palermo, Sicily in Italy, selected among 13 other firms that entered the international design competition for the contract.
Dexus Property’s 1 Bligh St. in Sydney Recognized as World’s Most Innovative High-Rise
Deutsches Architekturmuseum, in association with DekaBank and Stadt Frankfurt am Main has awarded “The International High-rise Award 2012” to 1 Bligh St. in Sydney.
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.
Yoma Strategic to Purchase 80 Percent Stake in 2 MSF M-U Development in Yangon
Yoma Strategic Holdings entered into a sale and purchase agreement with Serge Pun & Associates Limited to acquire rights to participate in the development of about 10 acres of land in downtown Yangon, Myanmar.
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.