Investment
Alberta Development JV Grabs 671 KSF Retail Portfolio from A&B Properties
Alberta Development Partners and an affiliate of Walton Street Capital have acquired the three-property A&B Properties Mainland Retail Portfolio and the Maui Mall, a total of 671,538 square feet in Colorado, California and Hawaii.
DivcoWest Buys 670 KSF M-U Portfolio for $395M
DivcoWest has acquired One Kendall Square, in Cambridge, Mass., an 11-building, 7.9-acre campus that includes 670,000 square feet of office, lab and retail space; a nine-screen movie theater; a 1,500-space garage; and a small development parcel.
Sellar Property Group to Develop Residential Tower in London
Sellar Property Group, which last year completed the much anticipated The Shard, the tallest skyscraper in Western Europe, is now set to develop a 27-story residential tower on the South Bank of the Thames.
Matan Cos. Buys Office Campus in Germantown, Md., from MEPT for $128M
Matan Cos., through its Matan Fund IV, has acquired Milestone Business Park, a 42-acre campus in Germantown, Md., from Multi-Employer Property Trust for $128 million.
Dermot Co. Trades 3-Property Upper Manhattan M-F Portfolio
The Dermot Co. Inc. closed 2013 with the disposition of a group of three multi-family properties in Manhattan’s Inwood neighborhood.
Bentall Kennedy Sells 173 KSF Highlands Corporate Center in Metro Seattle
Highlands Corporate Center, a 173,250-square-foot property consisting of three office/life sciences buildings in Bothell, Wash., has been sold by Bentall Kennedy to Clise Properties.
Ensemble Opens First Hotel at Philadelphia Navy Yard
Ensemble Hotel Partners is opening a 172-key Courtyard by Marriott, the first hotel at the Philadelpha Navy Yard that will serve the city’s largest business district.
Cole Buys 430 KSF Shopping Center in Denver Area for $117M
Cole has purchased the major portion of Cornerstar, a 750,000-square-foot regional power center in Aurora, Colo., from a joint venture of PCCP and Alberta Development Partners for $117 million.
Perennial RE Holdings, Asia RE Income Fund Buy Office Property in Singapore for $766M
As the curtain was ready to draw on 2013, a number of major commercial real estate transactions were completed to beat the buzzer, one of them Perennial Real Estate Holdings and the Asia Real Estate Income Fund’s purchase of a major office property in Singapore. The pair paid $766 million to Pacific Star Group for the property.
After Manhattan’s Banner 2013, Experts Await an Encore
“I think we can cheer about 2013 and feel pretty good about 2014.” That was how Ron Lo Russo, president of Cushman & Wakefield Inc.’s New York Tri-state region, summed up the outlook Tuesday morning at a briefing in Midtown Manhattan.