Investment
Colliers Adds Birmingham Office
Colliers International continued its expansion with a new Southeast office in Birmingham, Ala. The 15th office added in two years, Colliers Birmingham, formerly Sandner Commercial Real Estate, represents “a significant growth opportunity” for Colliers in the Southeast.
Kennedy Wilson Buys Anaheim Office Building for $56M
The company bought the 273,000-square-foot asset in Anaheim, Calif. for $56 million–a significant discount to the $71.1 million price the property fetched in 2005.
Brookfield Asset Managment Buys Suburban Dallas Campus from Citigroup
Citigroup, which occupies two of three buildings in the 620,000-square-foot campus in Irving, Texas, will remain under a sale-leaseback deal.
Premier Miami Beach Retail Center Trades for $132M
A 167,000-square-foot retail property in Miami Beach, Fla., has sold for a cool $132 million just nine years after being acquired for $43 million by joint venture partners RFR Holding L.L.C. and Greenstreet Real Estate Partners L.P.
Griffin-American Completes $106.7M Acquisition of Medical Office Portfolio
American Healthcare Investors and Griffin Capital Corp., co-sponsors of the Griffin-American Healthcare REIT II Inc., paid $106.7 million for 14 medical office buildings in nine states.
Hines Strikes Deal to Sell Houston’s 1.8 MSF Shell Plaza
Enterprise Products Co. is expected to close on the two-building trophy complex in Houston’s central business district later this summer.
Update: CBRE Global Investors Plans Upgrade of Newly Purchased 400 S. Hope
Trophy office assets in downtown Los Angeles are not easy to come by, but CBRE Global Investors has just gotten its hands on a big one, the 701,500-square-foot tower at 400 S. Hope St. And it has big plans to improve the asset’s double-digit vacancy rate.
CBRE Global Investors Grabs 700 KSF Downtown L.A. Office Tower
Trophy office assets in downtown Los Angeles are not easy to come by, but CBRE Global Investors has just gotten its hands on a big one, the 701,500-square-foot tower at 400 S. Hope St.
Blackstone Sells DiamondRock Hotels, Wins Stake in Hotel Company
DiamondRock Hospitality Co. has agreed to buy four hotels from The Blackstone Group for $495 million in an off-market deal that also calls for Blackstone to take a $75 million stake in DiamondRock.
Parkway Properties Takes Further Steps to Reposition Portfolio
Parkway Properties Inc., an Orlando-based REIT, has been repositioning its office properties portfolio. Most recently, it sold two Atlanta assets and a smaller building in New Orleans.