Investment
Title Wave: Where Premium Volume is Growing Fastest
*Title insurance premium volume for second quarter of 2013 compared with Q2 2012. Source: American Land Title Association For more on best practices for working with title insurers in today’s investment market, see “Handle with Care” in the December 2013 issue of CPE.
Shanghai CRED Buys Peppers Carrington Resort in New Zealand
Shanghai CRED Real Estate has purchased Peppers Carrington Resort in New Zealand and plans to invest millions of dollars over the next few years to help the resort reach its full potential.
Essex’s $121M Buy of M-F Portfolio Shows San Diego’s Solid Economy
Essex Property Trust has purchased a 379-unit luxury apartment community in San Diego for $121 million from Wood Partners in an all-cash transaction, as more than 15,000 jobs reportedly are within two miles of the community’s location.
Steadfast Income REIT Buys 6 Apartment Communities in Houston
Steadfast Income REIT has acquired 1,692 apartments in Houston as part of a six-property portfolio deal that closed in two phases. It is the second investment in Houston in two months and one of many the REIT has made in Texas.
Hines Buys 953 KSF Logistics Facility in Growing German Market
International real estate company Hines has completed one of the largest logistics transactions to take place in central Europe by acquiring the Fiege Mega Centre is a single-tenant e-commerce logistics property located in Erfurt, Germany.
Prudential RE Investments Closes $430M Property Fund V
Prudential Real Estate Investors continues to pick up acquisitions through its $430 million U.S. Property Fund V and is looking ahead to more office and multi-family investments for the fund.
Hillwood, Sovereign Wealth Fund Wrap First Closing of $1B Industrial Venture
The partners expect to ultimately raise an aggregate $400 million, which they intend to leverage for $1 billion in acquisitions and development over the next three to four years.
G&L Realty Gets $264M Refi for Southern Calif. Medical Portfolios
US Bank provided Beverly Hills-based G&L with $176.5 million in financing for five medical office and retail properties in the Golden Triangle district of Beverly Hills, plus a $63.5 million loan for a portfolio of three medical office buildings in other major Southern California submarkets.
SL Green Acquires Interest in Manhattan’s Embattled 650 Fifth Ave.
A joint venture between SL Green Realty and Jeff Sutton has acquired a 49-year leasehold interest covering the retail portion of 650 Fifth Ave., an office tower with decades-long ties to the Iranian government and now in legal limbo as a result.
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