International
AFIRE Survey: U.S. Offers Foreign Investors Bang for Their Buck
Foreign real estate investors would do well to look toward U.S. shores, according to the Association of Foreign Investors in Real Estate’s 19th annual survey. AFIRE, which surveys respondents holding more than $627 billion in global real estate, including $265 billion in the United States, found that investment opportunities are stronger than they have been for the last decade.
Tishman Acquires Cap de Seine Building in Paris
The purchase adds 327,000 square feet to the firm’s portfolio and is Tishman’s second transaction in Paris this year.
Booming Bloomberg Plans New 500,000-SF Headquarters in London
Currently, Bloomberg makes its London home at the building where the company set up shop 23 years ago. While the space has expanded to accommodate 2,300 employees, the company is in a growth mode and in need of more elbow room.
AMB Leases 127,000 SF of Mexican Development Portfolio
The space is located at the AMB Los Altos Industrial Park in Guadalajara.
Bulgarian Experience: Tishman International Builds at Sofia Airport
Tishman International Cos. chairman Alan Levy takes CPE senior editor Paul Rosta behind the scenes of the development of Sofia Airport Center.
Global Investment Could Hit $290B for Year: Jones Lang LaSalle
By year’s end, global transaction value could jump 35 percent to 40 percent compared to 2009, Jones Lang LaSalle estimates.
Brookfield Closes $2.7B Americas Infrastructure Asset Fund
As it turns out, Brookfield Asset Management underestimated investors’ interest in infrastructure . The Toronto-based property and infrastructure asset manager has just closed Brookfield Americas Infrastructure Fund L.P. with $2.7 billion in commitments–a far cry from the company’s original $1.5 billion target for the fund, which will seek high-quality infrastructure assets across North and South America.
State Department Taps Hellmuth to Design $192M Moscow Embassy Project
With projects ranging from hospitals to agency headquarters across the country, the federal government has a substantial development pipeline but, as evidenced by a recent contract award, its commercial real estate endeavors are not confined to U.S. soil.
Starwood Capital Sells Iconic Hotel Lutetia in Paris for $171M
The famed Hotel Lutetia in Paris has changed hands after five years under Starwood’s ownership.
ING Continues to Mitigate CRE Risk with Sale of Stake in $1.9B Canadian Industrial Portfolio
Amsterdam-headquartered global financial institution ING Group continues to downgrade its presence in the tumultuous commercial real estate market with a deal to sell its 50 percent interest in ING Summit Industrial Fund L.P., a fund with a 32 million-square-foot industrial portfolio in Canada.