Investment
RECon Special Report: Retailers Seek New Horizons Amid Redevelopment, Investment Buzz
As thousands of real estate professionals swarmed the vast exhibition halls of the Las Vegas Convention Center for RECon on Monday, executives paused briefly from the hectic activity to take stock of the show and the retail sector as a whole.
Bayfair Development Grabs 10-Acre Site in Tampa Area for Development of M-F Units
Bayfair Development has acquired a 10-acre parcel to build new apartment residences, snapping up the land from REDUS Florida Land in a deal orchestrated by commercial real estate services firm Cushman & Wakefield.
Carlton Closes $100M Lower Manhattan Condo, Hotel Pre-Development Loan
The Carlton Group has arranged a $100 million pre-development loan for a hotel and condominium project on Manhattan’s Lower East Side.
Beacon JV Acquires $100M Chicago Loop Office Tower
Beacon Investment Properties , in a joint venture with Harel Insurance, Investments and Financial Services Ltd, of Tel Aviv has bought a 23-story office tower in Chicago’s West Loop from Monroe Acquisition for $100 million.
International: Nobu Hospitality Expands into London with New Hotel
The luxury hospitality brand will be developing its first European hotel – the Nobu Hotel Shoreditch London – which is currently under construction, slated to open in the first quarter of 2016.
SL Green Refinances Manhattan’s 388-390 Greenwich St. for $1.4B
SL Green Realty Corp. has refinanced 388-390 Greenwich, the 2.6 million-square-foot Manhattan office complex occupied in its entirety by an affiliate of Citigroup Inc., to the tune of $1.45 billion.
ARCP to Grab Red Lobster RE in $1.5B Sale-Leaseback
As part of Golden Gate Capital’s acquisition of the Red Lobster chain from Darden Restaurants, American Realty Capital Properties will buy more than 500 Red Lobster restaurant properties and lease them back to GGC.
Executive Insights: Michael McNally, Southern Land Co.
Southern Land Co. recently rocked the Nashville real estate market with the $95.1 million sale of Elliston 23 Apartments, a mixed-use luxury multi-family development, which it owned in a joint venture with institutional investors advised by J.P. Morgan Asset Management. Vice president of mixed-use development Michael McNally Jr. talks about what the sale means for the company and for the white-hot Nashville apartment market.
NBA’s Lakers to Buy 5 Acres for New Training Center at L.A.-Area M-U Campus
The Los Angeles Lakers need a place to practice shooting hoops, so the NBA franchise has signed a deal to acquire a five-acre site at the Elevon at Campus El Segundo project in El Segundo, Calif.
Rockefeller Group Sells 1.5 MSF General Mills Distribution Center in Atlanta
The Rockefeller Group Development Corp. has sold the 1.5 million-square-foot General Mills Distribution Center in Social Circle, Ga., to Welsh Property Trust.