Investment
Downtown Miami Hotel Commands $72M
The new owner selected luxury operator HEI Hotels & Resorts to implement productivity and cost-cutting measures at the newly acquired asset.
Highly Crowdfunded Vehicle Hits Final Close at $151M
Origin Investments’ Fund III, raised from more than 450 investors, is intended to acquire $600 million in value-added commercial properties.
S. Korean Investment Firm Buys NASA HQ in DC
Two Independence Square, the largest asset in Piedmont Office Realty’s portfolio, sold for $360 million, or $593 per square foot.
Seritage, GGP Trade $248M in JV Transactions
The joint venture will continue to own four properties on a 50/50 basis. These assets are located in Texas, Washington, Massachusetts and Oklahoma.
Ivanhoé Cambridge Buys Evergreen for $1B
The transaction, which concludes a two-year search for the right industrial real estate company, expands the Canadian firm’s portfolio by 16 million square feet in U.S. assets.
JLL Brokers Sale of 213 KSF Orlando Warehouse
Exeter Property Group purchased the 213,290-square-foot asset from Cambridge Hanover for $8.9 million. The building is located in Orlando Central Park, one of Florida’s largest industrial parks.
Rexford Industrial Takes 3, Sells 1
The $71.5 million buy in the Los-Angeles area and Inland Empire brings the company’s 2017 industrial acquisition volume to more than $282 million.
Emerson to Invest $100M in Ohio Facilities
Construction and renovation plans include updating and expanding office and lab space at the company’s Sidney, Ohio, location. Investments will be made over the next four years.
Rubicon Sells LAX 596-Key Hotel Portfolio
The company disposed of the 640-key Hacienda Hotel it purchased in 2013 and then converted it into two different branded hotels: the Aloft by Starwood and Fairfield by Marriott.
San Diego-Area Grocery-Anchored Center Trades for $42M
HFF represented the seller, a partnership between Brixton Capital and ALTO Real Estate Funds, which sold the property to an affiliate of American Assets Trust Inc.