International
Mitsubishi Affiliate Launches First US Development Fund
Diamond Realty will use a total equity of $51 million to finance two multifamily projects in Texas and Colorado, as well as a logistics building in California.
New JV Plans $870M Hotel Complex in Dubai
Schon Properties and Al Hamad Group are developing iSuites, a mixed-use project featuring a 2,550-key hotel, to support the Dubai government’s goal of attracting 20 million visitors to the city by 2020.
Continental European Investors Covet London Market
The investment community across the pond is keen on United Kingdom’s number one hub, putting its money where its mouth is, Savills research shows.
Hyatt, IHG to Expand Middle Eastern Brands
Both companies have signed for and plan to develop several hotels throughout the Middle East and Gulf Cooperation Council.
Kennedy Wilson, Euro-Affiliate to Combine Into $8.2B Entity
The transaction is expected to close during the third quarter of 2017. The deal will reportedly create a global portfolio of more than 400 properties with an enhanced geographic mix and broad diversification across real estate sectors.
UK Lands Own CREW Network Affiliate Group
The launch of the Commercial Real Estate Women Network in Europe this month is expected to be the first of several initiatives around the world.
Economy Watch: IMF Ups Forecast for 2017 Global Growth
Gains in infrastructure and trade support the IMF’s prediction for greater global economic growth than previously expected. However, risks to the forecast remain, such as widespread protectionism and a withdrawal from multilateralism.
Meraas to Debut 4 New Hotel Brands in Dubai
The company is not alone in its bid to enhance the city’s hospitality market, as the metro sports the largest guestroom pipeline of any city in the world.
Economy Watch: Industrial Still Likely to Benefit from Free Trade
While the Trump administration plans to bolster U.S. exports and reduce imports, a trade war with China or a U.S. withdrawal from NAFTA are unlikely, which bodes well for industrial development and absorption, according to a recent Cushman & Wakefield research report.
Crown Realty Dives into Hot Toronto Market
The firm acquired a 252,000-square-foot office building on behalf of its third fund, Crown Realty III LP, and other co-investors.