Investment
Boston Properties to Grab the 1.7 MSF John Hancock Tower in Boston for $930M
The John Hancock Tower’s price tag of approximately $289.5 million in cash and the assumption of a $640.5 million senior mortgage loan with a 5.68 percent fixed rate constitutes quite a discount, considering that the property traded in 2006 for $1.3 billion.
Manulife Enters San Francisco with $265M Purchase of 770,000-SF Market Center
Both structures feature ground-level retail space and sit just across from a Bay Area Rapid Transit system station.
Luxon Joins TRECAP as Chief Investment Officer
Luxon brings more than a decade of experience with him.
BioMed to Shell Out $298M for Two-Campus Life Science Portfolio in South San Francisco
A company spokesperson said the move is a huge strategic step to establish a more significant footprint in South San Francisco — which is one of the largest life science markets in the country.
Behringer Harvard Purchase 560-Unit Fort Lauderdale Apartment Asset
Acting on behalf of Behringer Harvard Opportunity REIT II Inc., Dallas-headquartered Behringer Harvard has acquired the 560-unit Parrot’s Landing Apartments in North Lauderdale, Fla., partnering with Denver-based Grand Peaks Properties but retaining a 90 percent ownership stake.
Brookfield Closes $2.7B Americas Infrastructure Asset Fund
As it turns out, Brookfield Asset Management underestimated investors’ interest in infrastructure . The Toronto-based property and infrastructure asset manager has just closed Brookfield Americas Infrastructure Fund L.P. with $2.7 billion in commitments–a far cry from the company’s original $1.5 billion target for the fund, which will seek high-quality infrastructure assets across North and South America.
USAA Buys 1.4 MSF Memphis Industrial Portfolio, Continuing Shopping Spree
USAA Real Estate Co. has been bulking up its portfolio all summer, and it appears the activity is going to continue right into the fall. US Industrial REIT III, owned by affiliates of USAA and a group of institutional investors, just acquired a 1.4 million-square-foot industrial portfolio at Chickasaw Distribution Center in Memphis.
Corigin Holdings Makes Debut
Corigin is the spin-off of Coalco, which is the United States operation of international real estate firm Coalco Development.
Madding Tapped as President & CIO of C.M. Capital
Madding spent 22 years with the Henry J. Kaiser Family Foundation.
IPD: Real Estate Slump Receding
The Investment Property Databank’s U.S. Quarterly Property Index shows that commercial real estate markets have emerged from a two and a half year slump.