Investment
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.
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.