International
JV’s $116M Investment Buys 48 Percent Stake in $1.5B Macquarie DDR Trust
EPN’s investment, which will make it Macquarie DDR’s largest unitholder, will be utilized to pay down outstanding Macquarie DDR financial obligations, including unsecured debt and derivative liabilities, and bolster the balance sheet; the move is expected to decrease leverage from 73.2 percent to 64.4 percent.
Land Deal Paves Way for Casino Hotel Project in Underserved Cambodia-Area Market
If all goes as planned, the initial phase of the gaming property will open its doors by the end of 2011.
Las Vegas Sands Subsidiary Closes $1.75B in Financing for Cotai Strip Project in Macau
The credit markets haven’t defrosted completely, but one wouldn’t know it looking at Las Vegas Sands Corp.’s latest coup.
Forest City Ratner Solidifies $200M Partnership with Russian Investor for Atlantic Yards Project in Brooklyn
Forest City Ratner has just finalized a $200 million strategic partnership agreement with Moscow, Russia-based private investment fund Onexim Group–the holding company of billionaire Russian Mikhail Prokhorov–that has given Forest City Ratner’s Barclays Center arena project at the $5 billion Atlantic Yards mixed-use development in Brooklyn a financial boost.
Hines Turns a Profit on $128M Sale of Three Brazilian Industrial Properties
It’s not easy to turn a profit on a commercial property sale in the U.S. these days, but it can be a different story for certain commercial real estate sectors abroad, and as evidenced by its recent disposition of three Class A industrial properties in Brazil, Houston-based Hines is well aware of that fact.
Ireland Sees Its First–and Costliest–Hotel Transaction in Two Years
In a cash transaction that marks the first hotel sale in Ireland in two years, the 73-room Chief O’Neill’s Hotel has just come under the ownership of an international company seeking entry into the city.
Killam Properties Teams with Kuwait Finance on $450M Canadian M-F JV
Reaching beyond North American borders, Halifax, N.S.-based Killam Properties Inc. has found a real estate investment partner with deep pockets.
Starwood Launches Major Expansion of Aloft, Four Points Brands in India
Having closed on two funds totaling $2.8 billion earlier this month, Starwood Hotels and Resorts Worldwide, Inc. is taking its full pockets on a passage to India.
Central London’s Office Market on the Rebound
The office sector in Europe’s major metropolitan cities did not escape the ravages of the global economic crisis, but for Central London, a turnaround is afoot.
MIPIM Coverage: Canada beyond the Olympics
Fresh off the successful hosting of the 2010 Winter Olympic Games, Canada is attempting to direct attention and investment to the relatively safe waters of its national property markets.