Investment
W.P. Carey Fleshes Out Details of Proposed $4B Merger with Affiliate REIT
A conference call Friday morning shed more light on the proposed merger between W.P. Carey Inc., of New York, and its publicly held, non-traded REIT affiliate, Corporate Property Associates 16 – Global Inc., including the combined company’s assets, ownership and leverage.
Arden Group Acquires 243 KSF Office Center, 258-Room Hotel in Dallas
Arden Group of Philadelphia made its first purchases in the Dallas area this week – the 258-room LeMeridien Galleria hotel and the Atrium at Office Center, a 10-story, 243,109-square-foot office building in Las Colinas, Texas.
400 KSF Long Island Office Portfolio Changes Hands
CenterSquare Investment Management Holdings, known as Urdang Capital Management until prior to July 1, and Ivy Realty have sold Crossroads Corporate Center and Crossroads Executive Center, two multi-building office parks on Long Island, N.Y.
Cerberus Grabs 2 Retail Property Portfolios in Germany
Affiliates of Cerberus Capital Management L.P. have entered into definitive agreements to purchase two German retail property portfolios out of receivership.
C&W Reps St. John’s University in Sale of 101 Murray St. in Lower Manhattan
St. John’s University “had their pick of offers” after it put its prime Lower Manhattan campus at 101 Murray St. up for sale and the result was a record-setting $223 million deal between the university and The Witkoff Group, Fisher Brothers and Vector Group.
400-Unit M-F Asset in Hawaii Gets $59M in Financing
The Bascom Group and Morgan Stanley Real Estate Investing have landed approximately $59 million for the refinancing of Oasis at Waipahu, a 406-unit apartment property in Waipahu, on the island of Oahu, Hawaii.
TriGate Capital Closes Fund Above Target, at $324M
TriGate Property Partners II L.P. has closed at $324.2 million, above its target raise of $300 million.
Brookfield’s Canadian REIT Grabs Bay Adelaide Centre East in Downtown Toronto
Brookfield Canada Office Properties announced plans to buy Bay Adelaide Centre East office tower in downtown Toronto from its parent company, Brookfield Office Properties.
Scion, Virtus Buy $118M Student-Housing Portfolio from ACC
A joint venture between affiliates of The Scion Group and Virtus Real Estate Capital has acquired, from American Campus Communities, a portfolio of three student-housing properties for $118 million.
Mack-Cali to Sell Suburban Philly Office, Land Assets for $233M
Keeping in line with its diversification strategy into multi-family projects and its retreat from non-core office assets, Mack-Cali has struck a deal to dispose of its nearly 1.7 million-square-foot office portfolio and three land parcels in suburban Philadelphia.