International
US Tech Firm Sets Foot in Canada
Okta’s new office will benefit from Toronto’s diverse talent pool, which will help grow the company’s engineering team to better serve its Canadian customer base.
Blackstone to Buy Retail REIT for $650M
The group is expanding its footprint in Asia with the acquisition of Croesus Retail Trust, which owns a portfolio of 11 shopping malls in Japan.
Castellum Builds Sweden’s First WELL-Certified Building
The company’s investment is estimated at $41 million, including the acquisition of land for the property. The building dubbed Eminent, will offer around 103,000 square feet of office space.
Skanska Closes $56M Prague Office Deal
The 14,400-square-foot property is located near Andel, one of the busiest business areas in Prague, the Czech Republic. The buyer is a real estate fund managed by Triuva.
Hines, Ivanhoé Break Ground on Toronto’s CIBC Square
The project will comprise two buildings and a one-acre elevated park over the rail corridor. The first property is scheduled for completion in 2020.
Hyatt Regency Makes Amsterdam Debut
Hyatt Regency Amsterdam is the first Hyatt Regency and third Hyatt-brand hotel in The Netherlands. The hotel will offer 211 guestrooms, including 15 suites.
Economy Watch: China Named Top Buyer, Seller of US CRE
One-fifth of realtors that participated in the National Association of Realtors latest survey on foreign investment in U.S. commercial real estate said they had closed a sale with an international client in 2016. They also expect increased sales and leasing activity involving foreign investors this year.
The World’s Priciest Office Markets
CBRE’s annual office occupancy costs report highlights the strengths of gateway cities around the globe, including 12 in the U.S. that were among the 50 most expensive markets.
Blackstone to Buy Stake in $630M UK Firm
BREP Europe V is acquiring a majority interest in The Office Group, which is expected to reach more than 1.1 million square feet of flexible workspace within the next 12 months.
Hines, Henderson Park Enter Hotel Market in Greece
The joint venture paid $37 million to acquire Athens Ledra Hotel, an eight-story, 315-key property at 115 Syngrou Ave. in central Athens.