Investment
Gaming and Leisure Buys Meadows Racetrack, Casino in Washington, Pennsylvania for $465M
Gaming and Leisure Properties, a REIT that spun off from Penn National Gaming late last year, has acquired The Meadows Racetrack and Casino in eastern Pennsylvania for $465 million from Las Vegas-based Cannery Casino Resorts.
Meridian Arranges $142M in Financing for 2 MSF Detroit-Area Office Complex
Meridian Capital Group has arranged a $142 million mortgage on behalf of 601 West Cos. for the latter’s purchase of Southfield Town Center in Southfield, Mich.
Calvin Cafritz Lands $61M in Financing for 263-Unit Apartment Project in DC
With the assistance of commercial real estate services firm Cassidy Turley, Calvin Cafritz Enterprises has secured $61 million in financing for the development of 5333 Connecticut Ave., a 263-unit luxury apartment community in the Chevy Chase neighborhood of Washington, D.C.
NorthView Student Housing Receives $58M in Funds for UCF Housing Development
NorthMarq Capital’s Florida-based offices have arranged $58 million in financing for NorthView Student Housing, located on the University of Central Florida campus in Oviedo, Fla.
Gramercy to Buy Garrison’s 50% Interest in $395M Bank of America Portfolio
Gramercy Property Trust is acquiring the 50 percent interest in a $395 million Bank of America office portfolio from its joint venture partner Garrison Investment Group.
Investcorp Acquires RE Assets in Dallas, South Florida for $105M
Continuing what is shaping up to be somewhat of a shopping spree, Investcorp has acquired a group of four commercial and residential assets in metropolitan Dallas and South Florida for $105 million.
JLL, Golf Giant Norman Seek Investors for Australia’s $2B Reef Island Development
Global golfing giant Greg Norman, with the help of JLL, is spearheading a worldwide search for investors to capitalize on a $2 billion tourism project on Great Keppel Island, off central Queensland’s coast.
NorthStar, Chatham JV to Buy Hotels for $959M
A joint venture of Chatham Lodging Trust and Cerberus Capital Management is selling, and a JV of Chatham and NorthStar Realty Finance Corp. is buying, the lion’s share of a 51-hotel portfolio in a transaction worth $1.3 billion.
Avison Young Secures Sizable Investment in Germany
The fast-growing, Toronto-based commercial real estate services firm Avison Young has advised two Canadian pension funds in the acquisition and financing of a mixed-use, two-building complex in Cologne, Germany.
Clarion Buys 165 KSF Office Portfolio in San Antonio, Expands Presence
Clarion Partners has acquired University Park Tech Center III & IV, a 165,007-square-foot, Class A flex/office property in San Antonio.