Investment
KTGY-Designed $1B Master Planned Community in California Moves Forward
A $1 billion-plus, 2,200-acre master-planned community just off I-10 in Coachella, Calif., has received unanimous approval by the city council there.
Carlson Rezidor to Open 2 Radisson Blu Properties in Saudi Arabia
Carlson Rezidor Hotel Group has increased its portfolio in the Kingdom of Saudi Arabia with the addition of two upscale Radisson Blu properties: The Radisson Blu Resort Al Khobar Aziziya and Radisson Blu Hotel & Residence Unaizah.
CWCapital Sells 300 KSF Miami Office Property to Related for $104M
Four years after taking on the role of special servicer for a loan secured by the 302,300-square-foot office property at 444 Brickell in Miami, CWCapital Asset Management has sold the asset to Related Group for $104 million.
Equity Office Properties Sells 649 KSF Boston Suburb Office Park for $237M
The Blackstone Group’s Equity Office Properties affiliate has closed the sale, for $237 million, of Wellesley Office Park, a 649,184-square-foot office park in Wellesley, Mass.
MetLife, Norges Bank Create JV to Invest in U.S. CRE Market
MetLife and Norges Bank Investment Management have teamed on a joint venture to invest collectively in Class A office properties in key U.S. markets, making its initial investment in One Financial Center in Boston.
Gansevoort Founder to Develop Luxury Lifestyle Hotel in London
Gansevoort Hotel Group founder Michael Achenbaum has partnered with Douglaston Development, SUSD and Hondo Enterprises to develop a full-service urban resort at 45 Curtain Road in East London’s fashionable Shoreditch district, set to break ground early next year.
Heitman Buys 866 KSF Regional Power Center in Bay Area
In what could be the largest retail property sale in the Bay Area in 2013 in terms of size, Heitman acquired Pacific Commons Shopping Center, an 80-acre outdoor mall in Fremont, Calif., from an affiliate of Catellus Development Corp., a TPG Real Estate investment.
Shorenstein Buys 1.3 MSF Class A Office Property in Downtown Denver
Shorenstein Properties acquired Denver City Center, two downtown Class A office buildings with a total of 1.3 million square feet, from Crescent Real Estate Holdings for $286 million.
Hackman JV Scoops Up 1.6 MSF Campbell’s Soup Manufacturing Facility in Sacramento
Hackman Capital Partners, in a joint venture with Rabin Worldwide and Capital Recovery Group, has acquired the 1.6 million-square-foot industrial building in Sacramento that had served as Campbell Soup Co.’s manufacturing facility until last summer.
JW Marriott Hanoi Expands in Southeast Asia as Luxury-Brand Hotel
Marriott International is continuing its rapid growth with the recent opening of the JW Marriott Hotel Hanoi, a brand new location for the luxury brand that has in the past year made a point of expanding into Southeast Asia.