Investment
Office Asset in San Diego’s Tech Hub Trades for $10M
MIG Real Estate sold the three-story property in the Sorrento Mesa neighborhood, where technology and medical companies maintain a strong presence.
Vornado Sells $1.2B Stake in NYC Retail Venture
In its latest move to generate big proceeds, the REIT sold a 45.4 percent common equity interest in its Upper Fifth Avenue and Times Square collection.
$2.6B Encore Boston Harbor to Open in June
Believed to be Massachusetts’ largest project ever completed in a single phase, Wynn Resorts’ development will feature a 671-key hotel and a casino with 3,000 gaming positions.
Summit Hotel Properties Sells Multi-State Portfolio for $135M
The company completed the disposition of six assets totaling more than 800 guestrooms, located in Massachusetts, Texas, Minnesota, Utah and California.
Chrysaor Buying ConocoPhillips North Sea Assets for $2.7B
The mega transaction will make the private equity-backed U.K. oil company one of the basin’s largest producers.
Austin Energy to Acquire Nacogdoches Facility for $460M
The transaction is expected to close in mid-2019 and will enable Austin Energy to avoid about $275 million in additional costs over the remaining term of the agreement.
Cushman & Wakefield Facilitates $16M CA Industrial Sale
The new owner financed the acquisition with a $10 million loan from East West Bank. A Mitsubishi subsidiary is the only tenant of the 73,000-square-foot building in Poway.
Executive Q&A: Nuveen’s New CIO
Carly Tripp discussed how the global investment manager is remaining disciplined and focused on long-term strategy while being flexible and open-minded.
Dallas Office Tower Trades for $180M
Goldman Sachs Asset Management sold its recently opened 1900 Pearl located in the Arts District to The State Teachers Retirement System of Ohio.
Investors Still Cautious After Brexit Delay
Commercial real estate executives say capital is still flowing into London and the U.K., particularly for those making long-term plays, but the recent decision to postpone Brexit is keeping some on the sidelines for now.