Investment
Vornado Buys 25 Percent Interest in $475M Debt on Times Square Project
Vornado Realty has acquired a 25-percent participation in the $475 million first mortgage and mezzanine loan on the property at 701 Seventh Ave. in Manhattan.
Liberty Property to Build 164 KSF Industrial Facility in Houston
Liberty Property has chosen Cadence McShane to construct its Liberty 10 at Central Green, a new warehouse and distribution building in Houston, totaling 164,000 square feet.
Savanna, Monday Properties Sell 260 KSF 386 Park Ave. S.
Savanna and Monday Properties have sold a 20-story building in the heart of Midtown Manhattan for reportedly between $110 million and $113 million.
Normandy Real Estate JV Grabs 575 Lexington in Manhattan
The 743,200-square-foot Manhattan office tower at 575 Lexington Ave., which last changed hands in 2006 for $400 million, has come under new ownership.
Macerich to Pick Up Two Malls for $1.3B
The Macerich Co. has signed a deal to acquire two New York retail properties, the Green Acres Mall and the Kings Plaza Mall, from Vornado Realty Trust for a total of $1.25 billion.
AXA, Norwegian Wealth Fund Buy Two Buildings in Germany for $981M
AXA Real Estate Investment Managers and Norges Bank Investment Management have agreed to buy two buildings in Germany for a total of $981 million, from the Royal Bank of Scotland Group.
KS Partners Buys New Boston’s $65M Hartford-Area Office Portfolio
New Boston Fund Inc., of Boston, has sold to KS Partners, of Woburn, Mass., an eight-building office portfolio in suburban Hartford, Conn., for $65 million.
1.4 MSF National Industrial Portfolio Pulls in a Rumored $80M
The Columbia Portfolio, a nearly 1.4 million-square-foot group of industrial properties, has changed hands and the word on the street is that it fetched $80 million.
Xinyuan Buys Brooklyn Land, Plans $54.2M Condo
Beijing’s Xinyuan Real Estate, acting through its U.S. division, XIN Development Group International Inc., has made its entrée into the U.S. multi-family market with the $54.2 million acquisition of a development site in Brooklyn, N.Y.
Thor Equities Refinances Chicago’s Palmer House Hotel for $365M
Chicago’s historic Palmer House Hilton luxury hotel has been refinanced by owner Thor Equities to the tune of $365 million, it was announced Wednesday by Jones Lang LaSalle, which arranged the floating-rate financing package.