Investment
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.
Hilton Opens Istanbul’s Largest Hotel & Conference Center
Hilton has announced the opening of the 829-key Hilton Istanbul Bomonti Hotel & Conference Center, Hilton’s newest Turkish asset and Istanbul’s largest hotel.
Winthrop Realty Trust’s Times Square NY Venture Refinances Existing Debt
The development venture that bought 701 Seventh Ave. in Manhattan’s Times Square in October 2012 has completed $815 million in refinancing.
Cassidy Turley Arranges $100M in Financing for 440 KSF Office Complex in Suburban DC
A cool $100 million in financing has been arranged for National Gateway I and II, twin office properties totaling 437,400-square feet in Arlington, Va.
Mesa West Capital Provides $220M Loan to Refi Burbank, Calif., Office Development
Citing the property’s quality and strong leasing record over the past year, Mesa West Capital provided a $220 million loan to refinance The Pointe, a 14-story, 480,000-square-foot Class A building in the Los Angeles suburb of Burbank.