Investment
Morgans Hotel NYC Fetches $41M
The acquisition is scheduled for completion in July, when the new owners—a joint venture of The Kash Group and Shel Capital—will execute a residential conversion of the the 90-year-old Midtown Manhattan property.
Baltimore-Area Office Asset Completes First Sale
A joint venture between Feldman Bergin Development and Kenwood Management Co. acquired 1334 Ashton Road in Hanover, Md. for $2.3 million. The building is part of the Commons Corporate Center office park.
Jernigan Capital Invests $10M in Florida Self-Storage Project
The 811-unit self-storage facility will be part of a $70 million mixed-use development in St. Petersburg, Fla. and is expected to be completed in the third quarter of 2018.
730 Peachtree Street Changes Hands in Atlanta
The new owner plans to reposition the asset and has selected Lincoln Property Co. to lead management and leasing efforts at the property.
Digital Realty, DuPont Fabros to Merge
The all-stock transaction valued at $7.6 billion paves the way for the creation of the second-largest data center REIT and the eighth-largest publicly traded REIT in the country.
Niche Plays: The Rise of Specialty Sectors
Technological advancements and demographic patterns are giving rise to new needs. Which are the sectors seeing the benefits—and offering long-term investment opportunities as a result?
Atlanta-Area Office Campus Trades for $19M
Avison Young negotiated the disposition of the seven-building asset, while Lincoln Property Co. will handle the management and leasing assignment of the complex.
NoCal Medical Park Trades in 1031 Exchange
Sinogap LLC has exchanged a Silicon Valley redevelopment site for a 21,008-square-foot multi-tenant medical dental office park in Milpitas, Calif., and an apartment community in San Jose, Calif.
Philly-Area Office Trades, Lands $45M Financing
HFF’s investment sales team reeled in a buyer for Valley Creek Corporate Center, then the firm’s debt placement team secured acquisition funds for the Pembroke-Ten Capital joint venture through Barclays Capital.
Vail Closes Vermont Mountain Resort Acquisition
Stowe became Vail’s first-ever resort on the East Coast and its 13th overall ski property. The asset is forecast to bring in more than $5 million in revenue during its first 12 months of operation, following the acquisition.