Investment
Peter Hobbs: Who’s Buying
IPD managing director of research Peter Hobbs talks on CPE TV about prospects for global real estate investment.
Witkoff, Jynwell Close on NYC’s Park Lane Hotel for $660M
An investment consortium led by The Witkoff Group and majority backer Jynwel Capital has acquired the Helmsley Park Lane Hotel in New York City for $660 million from the Leona and Harry Helmsley Charitable Trust.
CCIT Buys 5 Net-Lease Office Properties for $202M
Cole Corporate Income Trust has acquired five single-tenant corporate properties with a total of 733,062 square feet for $202 million, including two in San Jose and one each in Houston, St. Louis and Colorado Springs.
IMMOFINANZ Subsidiary Buys M-F Portfolio in Berlin for $81M
BUWOG, a wholly-owned subsidiary of IMMOFINANZ Group, has bought a 1,185-unit residential portfolio in the greater Berlin area, stemming from an insolvency estate, for $81 million.
WRIT Pockets $307M on First Phase of MOB Portfolio Sale
In two separate transactions with Harrison Street Real Estate Capital, Washington Real Estate Investment Trust closed the sale of office buildings totaling 877,000 square feet, two office assets featuring significant medical office tenancy and a parcel of land for $307.2 million.
Prudential Parks $324M with Dutch Garage Operator
Prudential Mortgage Capital Co. has provided $324 million of financing to Q-Park, Europe’s second-largest parking company, secured against a portfolio of 13 parking structures, totaling about 8,900 spaces, in the Netherlands.
Mesa West Closes Debt Fund with $752M
Mesa West Capital got more than it expected when it closed its Mesa West Real Estate Income Fund III L.P.—$102 million more, to be precise. The debt fund manager raised a total of $752 million in equity commitments, outdoing its target of $650 million.
TIAA-CREF, CNP Assurances Form $1.2B JV for German Retail Properties
TIAA-CREF and CNP Assurances have formed a joint venture to invest $1.2 billion in three retail properties in Germany.
Ivanhoé Cambridge Grabs Premier 1.4 MSF Office Property for $360M
In a partnership with Callahan Capital Properties, Ivanhoé Cambridge acquired 10 and 120 South Riverside Plaza, twin 21-story office towers located smack dab in the Windy City’s central business district, from TIER REIT for $360 million.
Lone Star Funds Acquires 6 MSF Commercial Portfolio
Global private equity firm Lone Star Funds has acquired State Farm’s 23 existing operations centers consisting of 6.2 million square feet in 16 states, through a sale-leaseback agreement.