Investment
General Growth, Kimco JV to Redevelop Maryland Mall for $70M
Owings Mills Mall, a 25-year-old, 1 million-square-foot regional mall in northwest Baltimore County, will be undergoing redevelopment through a new joint venture of General Growth Properties and Kimco Realty.
ProLogis Sells 90% Stake in Brazilian Development to Pension Fund
Powerhouse industrial developer ProLogis Inc. announced the sale of a 90 percent interest in its not-yet-complete ProLogis CCP Cajamar Industrial Park in São Paulo, Brazil, to Brazil’s largest pension fund, PREVI.
MetLife Sells 50% Stake in Houston’s Wells Fargo Plaza to NY Fund
In a move to “diversify its portfolio,” MetLife Inc. announced that it has completed the sale of a 50 percent interest in Wells Fargo Plaza to New York State Common Retirement Fund.
DivcoWest, Stockbridge Capital JV on $47M San Diego Office
In a $47 million transaction, DivcoWest and Stockbridge Capital have teamed up to acquire the 160,000-square-foot Genessee Executive Plaza in the University Town Center submarket in San Diego.
HFF Arranges $125M Financing for L.A. Office Portfolio
In the slowly expanding Los Angeles office market, Holliday Fenoglio Fowler has arranged a $124.9 million refi package for four office properties that total 543,162 square feet in Burbank and L.A.
One Week, Nearly One Billion in Deals for Morrison & Foerster
Morrison & Foerster’s real estate group this week alone has represented three deals to the tune of nearly $1 billion and its chairman says Manhattan continues “bucking the trend” in CRE.
CBRE Closes on ING’s Europe Operations for $540M
In another piece of its acquisition of ING Group’s real estate management operations, CBRE has just closed on the European business — paying $540 million — after nabbing the Asia operations last month.
Lincoln Eyes Long-Term Upside in $76M Orange County Buy
Lincoln Property Co. has snapped up the Towers at Bella Terra, a 420,000-square-foot office and retail complex in Huntington Beach, Calif., in a $76 million cash transaction green-lighted by the state Superior Court.
Crowne Plaza Tampa East Purchased by Interstate Hotels
Interstate Hotels & Resorts has just announced its acquisition of the 265-room Crown Plaza Tampa East in a joint venture with Waramaug Hospitality L.L.C. and a private investment group.
ULI Special Report: Capital Markets Executives Say “Be Patient”
“Be patient” was the advice of executives opening day two of the ULI Fall Meeting. With the economy’s direction tough to predict right now but in their opinion unlikely to take a second dip into recession, waiting out the volatility will bear fruit.