Investment
Rockrose Buys 150 KSF NYC Commercial Office Building for $105M
Rockrose Development Corp. has acquired 15 E. 26th St., a 150,000-square-foot boutique commercial office building located on Madison Square Park between Madison and Fifth avenues, from Savanna for $105 million.
Essex Agrees to Buy BRE for $4.3B
A week after announcing it was exclusively courting BRE Properties, rival multi-family REIT Essex Property Trust said it had agreed to make the marriage official, with BRE Properties being merged with Essex in a cash and stock deal worth $4.3 billion.
KBS REIT III Closes Chicago’s 500 West Madison for $425M
KBS REIT III has acquired 500 West Madison, also referred to as Citigroup Center, an iconic, 1.5 million-square-foot mixed-use tower in Chicago, for $425 million plus closing costs.
Peebles, Elad Buy NYC Landmark Building for $160M
The Peebles Corp. and Elad Group have bought the historic 346 Broadway office building from New York City for $160 million and plan to transform the 115-year-old property into a five-star hotel and upscale condominiums in a $400 million restoration.
Hines, Oaktree Acquire Maxis Office Park in Suburban London
International real estate firm Hines has partnered with a subsidiary of Oaktree Capital Management to acquire the Maxis office campus in Bracknell, Berkshire from administrators Grant Thornton.
Realty Income to Buy Half-Billion-Dollar Net-Lease Portfolio from Inland Diversified
Realty Income Corp. is closing the year with a bang. The company has entered into a definitive agreement to acquire an 84-property portfolio of single-tenant net-leased retail and industrial real estate assets from Inland Diversified Real Estate Trust.
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.