Investment
Carey Watermark JV Buys 365-Room Sheraton Austin Hotel at the Capitol
Carey Watermark Investors Inc. has Austin under its skin. The company just made its second acquisition in the city in two months with the purchase of the 365-room Sheraton Austin Hotel at the Capitol, in a joint venture with JMI Realty.
Accor’s HotelInvest Acquires 2 Hotel Portfolios for $1.2B
Accor’s HotelInvest business is adding two real estate portfolios, having agreements to purchase a total of 97 hotels for a combined fee of $1.2 billion.
Berkadia Buys Keystone Commercial Capital
Berkadia Commercial Mortgage L.LC. added new offices in three U.S. cities to its growing company and more than $2 billion in commercial real estate loans to its servicing portfolio with the acquisition of Keystone Commercial Capital.
MAY ISSUE: Albertsons-Safeway Merger Continues Grocery Consolidation
The pending mega-merger between supermarket giants Albertsons and Safeway reflects important trends in the grocery business, according to industry observers, some of whom also have strong opinions about how this deal will play out over time.
DivcoWest Buys 483 KSF Class A Office Complex in El Segundo, Calif.
DivcoWest has completed the purchase of Continental Grand Plaza, a two-building, 483,000-square-foot Class A office campus at 300-400 Continental Blvd. in El Segundo, Calif.
Carey Watermark Buys Manhattan’s Courtyard Times Square West Hotel for $95M
Carey Watermark Investors has made its second Manhattan acquisition, buying The Courtyard Times Square West, a 224-room select service hotel, for $95 million.
Transwestern Development Grabs Land for 1.2 MSF Industrial Project in Katy, Texas
Transwestern Development Co. has bought a 74-acre site in West Ten Business Park on Interstate 10 at Cane Island Parkway in Katy, Texas, for an undisclosed amount.
PCCP Provides $98M Loan for Construction of 269-Unit M-F/ Retail Property in Suburban Boston
PCCP has emerged victorious in the bid to furnish Northland Investment Corp. with financing for the construction of Moody & Main, a new mixed-use multi-family property just outside of Boston.
International: 2 Chinese M-F Projects Get $60M Investment from Century Bridge Capital
Century Bridge Capital is investing approximately $60 million in two separate joint ventures dealing with residential projects taking shape in the Chinese cities of Zhongshan and Wuxi.
GFI Development, GB Lodging Secure $350M in Financing for Manhattan’s The Beekman
Plans to convert the historic 5 Beekman St. in Lower Manhattan into a luxury lifestyle hotel with an adjoining condominium tower are moving forward now that the property owners and their joint venture partner have secured $350 million in financing.