Investment
W.P. Carey Closes Merger with Affiliate REIT, Gets New $1.2B Credit Facility
W.P. Carey last Friday closed the merger with its publicly held, non-traded REIT affiliate, Corporate Property Associates 16 – Global.
Kilroy Buys Hollywood Parcel for $300M M-U Project
Kilroy Realty Corp. has acquired a nearly four-acre parcel near the renowned intersection of Sunset and Vine from AMPAS in a $46 million deal, with plans to transform the site into a mixed-use development at a cost of $250 million to $300 million.
Simon Purchases Two Taubman Properties
Simon Property Group has acquired land in Syosset, N.Y., and a 50 percent interest in Arizona Mills in Tempe from the Taubman Centers for $60 million and 555,150 partnership units in Simon Property Group L.P.
Silicon Valley Office Portfolio Yields $200M in Financing for Carl Berg
NorthMarq arranged financing for an unencumbered, 711,000-square-foot office portfolio in California’s Silicon Valley through Prudential Mortgage Capital Co.
EPA, Freddie Mac Team Up on Energy Efficiency Plan
The agencies will examine how energy efficiency boosts affordability in multi-family assets financed by Freddie Mac.
Seller Finances Heitman JV’s Purchase of DC Office Building
A joint venture of Minshall Stewart Properties and an affiliate of Heitman L.L.C. secured the financing from Lone Star Funds to acquire 1401 New York Ave., N.W., in Washington, D.C.
Starwood Picks Up Sizable REO Office, Retail Portfolio for $191M
Starwood Capital Group has completed, through a controlled affiliate, the acquisition of a pool of real estate-owned assets from special servicer CWCapital Asset Management L.L.C. for $191 million.
GF Management Affiliate Adds Orlando Hotel to its Portfolio
ESLBV Property Owner L.L.C., an affiliate of GF Management, has acquired the 334-room Embassy Suites Orlando-Lake Buena Vista and is planning a $13 million renovation to take place over the next year.
CPE 100 Sentiment Survey: Industrial Assets to Make Biggest Gains with Investors in ’14
Industrial and e-commerce properties are expected to make the biggest jump in popularity with investors this year, while pension funds and foreign capital will increase their activity more than other institutional investor categories, according to the latest CPE 100 Quarterly Sentiment Survey.
CNL Healthcare Properties Acquires Medical Office Buildings in Florida, California
CNL Healthcare Properties has acquired two medical office buildings in Coral Springs, Fla., and two medical office buildings in Chula Vista, Calif., for a total of $60 million.