Investment
Prologis to Develop 3 Buildings in UK
San Francisco-based Prologis will begin development on three buildings with a total of 700,000 square feet in the United Kingdom.
Calling Plan: American Tower to Buy Global Tower Partners for $4.8B
American Tower Corp. has agreed to acquire MIP Tower Holdings, a private REIT and the parent company of Global Tower Partners and related companies, for $4.8 billion.
Parkway Buys Thomas Properties for $1.2B
Parkway Properties and Thomas Properties Group will soon become one. The two real estate companies have entered into a merger agreement calling for Thomas Properties to merge with and into Parkway. The $1.2 billion stock-for-stock transaction will leave Parkway shareholders with a 75 percent ownership stake and Thomas shareholders with the remaining 25 percent interest.
Cornerstone Buys Boston Trophy Tower for $110M
Cornerstone Real Estate Advisers, a subsidiary of MassMutual Financial Group, has acquired 99 Summer St. in Boston from Normandy Real Estate Partners for $110 million on behalf of a Cornerstone-managed fund.
Inland Repositioning its Portfolio with Purchase of 2 Westin Hotels for $220M
Inland’s acquisition of the two Westin hotels is part of the company’s long-term strategy to invest in luxury, upper-upscale and urban-upscale properties in the top 25 markets, according to Marcel Verbaas, Inland American Lodging Advisor’s president & CEO.
Clarion Gets $150M in Financing for 1.3 MSF Office Park in Norwalk, Conn.
An ownership entity managed by Clarion Partners has secured $150 million in financing for the 1.4 million-square-foot Merritt 7, an office park in Norwalk, Conn.
Parallel Discusses Strategy Behind Purchase of Landmark Dallas Towers
The purchase by Parallel Capital Partners of the 850,000-square-foot, two-building Urban Towers project in Irving, Texas, announced late Tuesday, marked the company’s re-entry into the Dallas–Fort Worth market.
Greystar Completes Half-Billion-Dollar M-F Portfolio Purchase
Greystar Real Estate Partners’ already substantial portfolio just got quite a bit bigger. The multi-family real estate company recently completed the acquisition of a 4,371-unit portfolio from Inland American Real Estate Trust in a deal valued at $460 million.
CBL Sells 3 Malls in the Southeast for $176M
CBL & Associates Properties has closed on the sale of a three-mall portfolio in the Southeast for a gross sale price of $176 million in cash.
USAA Buys 262 KSF Office Building in San Antonio
USAA Real Estate has acquired One Riverwalk Place, an 18-story, multi-tenant office building located in the central business district of San Antonio, from Winthrop Realty, an affiliate of Apollo Real Estate Advisors.