Investment
$1.4B Sale of Share in GM Building is NYC’s Biggest in Years
In a truly international deal, a 40 percent stake in Manhattan’s iconic General Motors Building traded hands last Friday for a reported $1.4 billion.
Natixis Provides $128M for Chetrit M-F Redevelopment Project in NYC
Natixis Real Estate Capital has come through for Chetrit Group once again. The direct lender recently provided Chetrit–along with partners Clipper Equity and Robert Wolf of Read Property Group–with a $128 million loan for the purchase and predevelopment of the former Cabrini Medical Center complex on E. 19th St., in Manhattan.
Blackstone Buys Four-Property Hilton Portfolio
The private equity giant’s real estate affiliate has acquired a 751-room, four-property Hilton Select Service portfolio from Sage Hospitality and Apollo Global Management.
Summit Grabs Six Hotels in Deals Totaling $170M
During the period between the closing of its initial public offering in February 2011 and the end of 2012, Summit Hotel Properties Inc. amassed a portfolio of 24 properties, and with the recent purchase of six assets for an aggregate $170 million, there appears to be no end in sight to the company’s shopping spree.
Digital Realty Acquires 337 KSF, Six-Building Portfolio in Austin
Digital Realty Trust, already the world’s largest data center REIT, continues boosting its United States portfolio with the acquisition of a six-building holdings totaling 337,000 square feet in Austin, Texas.
CDT Buys Ocean Towers in Coney Island, Area Hit Hard by Sandy
Community Development Trust and Proto Property Services have teamed up on a $52 million project to buy and rehabilitate a 19-story, 380,000-square-foot apartment building in Coney Island, an area in Brooklyn hit hard by Hurricane Sandy.
Emaar Launches Sale of Dubai Luxury Residences
Global property developer Emaar Properties PJSC has begun the sale of its newest residential project, Burj Vista II.
Wolff Picks Up $200M M-F Portfolio in Las Vegas
The Wolff Co., of Scottsdale, Ariz., has acquired the 3,098-unit “Oasis Portfolio” of 14 apartment communities in metro Las Vegas.
Kimco, American Industries Sell Mexican Industrial Portfolio for $600M
The REIT and joint venture partner American Industries have entered into an agreement to sell their interests in an 11 million-square-foot portfolio of industrial properties in the country to Terrafina, a Mexican REIT advised by Prudential Real Estate Investors, for $600 million.
MIPIM Special Series—Part Two: Focus on the US
Associate editor Eliza Theiss presents a focus on foreign investment in U.S. real estate, the second in a three-part series of reports on worldwide real estate based on presentations at the MIPIM world property market in March.