Investment
Steadfast Acquires Two Apartment Properties for $61M
California-based real estate investment and development firm Steadfast Income REIT has acquired two apartment communities in separate transactions for an aggregate purchase price of approximately $61 million.
Phillips Edison–ARC Acquires Three-Property Portfolio
Phillips Edison-ARC Shopping Center REIT Inc. continues what appears to be a bit of a buying binge with the acquisition of a three-state, three-property portfolio of shopping centers totaling 276,000 square feet.
Meridian, Eastdil Arrange $275M Financing for NYC Hotel
Meridian Capital Group and Eastdil Secured have negotiated $275 million in permanent financing for the $325 million
acquisition of the fee position in NYC’s Milford Hotel, on behalf of a partnership between David Werner and Deutsche Bank Asset & Wealth Management.
Vestar, UBS Global Pay $87M for LA Retail Center
Vestar, in a JV with a UBS Global Asset Management fund, has acquired Peninsula Center, a 300,000-square-foot retail center in Los Angeles County, from Principal Real Estate Investors for $87 million in an all-cash transaction.
Alliance Picks Up Chicago’s Burnham Center for $95M
Alliance Partners has acquired downtown Chicago’s 580,000-square-foot Burnham Center office building from Harbor Group International for $94.6 million.
$10B Development Project in Ghana to Feature Tallest Building in Africa
One of the most ambitious development initiatives on the African continent, Hope City Development, recently held a sod cutting ceremony, in the presence of a number of state officials and business partners of the massive project.
Maguire Recapitalizes LA Office Campus with $105M Loan
Maguire Investments has recapitalized Water’s Edge, its two-building, 6.5-acre “creative office campus” in LA’s Playa Vista submarket, with a $105 million loan.
Simon Fairchild & Jim Valente: Global Performance
IPD North America’s Simon Fairchild and Jim Valente comment on which countries and regions are showing the best real estate performance, during IPD’s U.S. Real Estate Investment Forum, at which they released the PREA/IPD U.S. Property Fund Index.
