Investment
Marcus & Millichap: Recovering Markets to Spike Hotel Activity
A new report by Marcus & Millichap predicts that room demand will grow in the coming year. Driven by increased capital flows and a falling unemployment rate, the national occupancy rate could rise as high as 60.7 percent — a 0.6 percent increase from 2011.
AREA Joins with Harbor Properties, Urban Partners on Seattle Multi-Family Initiative
AREA Property Partners has joined forces with Harbor Urban L.L.C., the merged entity of Harbor Properties and Urban Partners, to develop apartment communities in the Seattle metropolitan area.
Brookfield, Hillwood JV on $1B Acquisition Vehicle
With the U.S. industrial market improving, Brookfield Asset Management and Hillwood announced a joint venture that is expected to invest as much as $1 billion in industrial properties over the next three years.
Boston Properties Completes Acquisition of 100 Federal St. in Boston
Boston Properties has completed the acquisition of 100 Federal St. in Boston from an affiliate of Bank of America with an aggregate investment of about $615 million — reportedly funded with available cash.
A Look Back at MIPIM 2012
After a long week of seminars, presenatations and, of course, plenty of networking, the 2012 MIPIM conference in Cannes, France, drew to a close. While an atmosphere of cautious optimism pervaded, regions and countries are thinking big again.
Savanna, Panzer Partner to Close $196M Multi-Family Transaction on Long Island
With the finalization of a $196 million transaction, Savanna has become a partner with Pantzer Properties in the ownership of Atlantic Point, a 795-residence multi-family community in Bellport, N.Y., on Long Island.
Kennedy Wilson, Fairfax JV on $365M European Investment Platform
Kennedy Wilson and Fairfax Financial Holdings Ltd. continue to eye commercial real estate opportunities in Europe together, this time forming a $365 million partnership to seek assets, including loans and real property.
Retail Retracts
While the retail sector did not fare as badly as some had feared as a result of high unemployment, fundamentals continue to founder.
Brookfield Refis Five Multi-Family Properties for $400M
In a deal arranged and closed by HFF, Brookfield Real Estate Financial Partners has secured a $400 million, seven-year, floating-rate refinance loan from M&T Realty Capital Corp. for a 2,600-unit multi-housing portfolio.
Simon Property Group Goes on $3.5B Spending Spree
Simon Property Group, the largest real estate company in the United States, went on a $3.5 billion shopping spree Thursday by acquiring a $2 billion stake in Klepierre, a major European retail and office player, and by buying out its joint-venture partner in The Mills U.S. shopping-center properties for $1.5 million.