Investment
TCC, Principal to Develop New 456 KSF BTS in Houston
Leading independent energy company Noble Energy has hired the joint venture of Trammell Crow Co. and Principal Real Estate Investors to develop Noble Energy Center Two, a 456,000-square-foot office building located in Houston’s Northwest submarket.
Starwood’s Move into Special Servicing Amid Distress Level’s Continued Drop
There were several motivations for the just-announced $1.05 billion purchase of LNR Property by Starwood Property Trust and Starwood Capital Group. The one that seems to have gotten the most attention, though, was the opportunity the acquisition gives Starwood to move into special servicing.
Mack-Cali Constructing M-U Development Project in East Boston
The Roseland subsidiary of the Mack-Cali Realty Corp. has commenced construction on Portside at Pier One, a 176-unit luxury apartment project on the East Boston waterfront.
George Smith Partners Secures $185M in Financing for Retail Portfolio
DJM Partners has refinanced a four-property retail portfolio in Southern California with $185 million in financing arranged by the Los Angeles-based real estate investment banking firm George Smith Partners.
Rezidor Signs Four New Hotel Projects, Opens Five New Hotels in 4Q12
The Rezidor Hotel Group announced that the final quarter of 2012 was a successful one, as the Belgium-based group signed four new hotels with more than 1,200 rooms and opened five new ones with 1,100 rooms.
Bernards, Colombo Break Ground on New California Hospital
Ground is scheduled to break in February on the new $56 million Tehachapi Hospital in Tehachapi, Calif.
JLL, HSBC Sign Record-Setting Facilities Management Contract
In what reportedly is the largest outsourcing contract of its kind by a financial services firm, Jones Lang LaSalle has been selected by banking giant HSBC as its sole global outsourcing provider of integrated facilities management services.
Phillips Edison–ARC Shopping Center REIT Acquires 508 KSF Shopping Center Portfolio in Atlanta
Phillips Edison-ARC Shopping Center REIT has started the new year where it left off in 2012 – with another acquisition – a portfolio of six grocery-anchored shopping centers in the Atlanta area, which the Cincinnati-based REIT acquired for $60.5 million.
Mack-Cali Acquires Two Luxury M-F Properties in Metro Boston
Mack-Cali Realty Corp. has acquired Alterra at Overlook Ridge IA in Metro Boston for approximately $61 million and has also agreed to acquire Alterra at Overlook Ridge IB for approximately $89 million from a joint venture that includes Prudential Insurance Co. of America.
Avison Young Wins Global Transaction Management Assignment with Sun Chemical Corp.
The Canadian real estate services firm that has been expanding rapidly in the United States has won contracts with two N.J.-based multinational companies – Sun Chemical Corp. and C.R. Bard Inc. – to manage their global transactions.