Investment
TIAA-CREF Buys 21 Penn, 2 Herald Square in Midtown Manhattan
The buying spree by TIAA-CREF is so fast and furious lately that the latest deal was actually two of them.
DiamondRock Buys Westin Florida Property for $149M
DiamondRock Hospitality has acquired the fee simple interest in The Westin Beach Resort & Spa, Fort Lauderdale, for $149 million.
STORE Capital Prices Offering, Anticipates Half-Billion in Proceeds
STORE Capital Corp. is going public and the net-lease REIT recently announced the pricing of its initial public offering of 27.5 million shares at $18.50 per share.
INTERNATIONAL: Safra Shells Out $1B for The Gherkin in London
The Safra Group, an international network of companies led by Brazilian billionaire Joseph Safra has bought 30 St. Mary Axe in London, also known as The Gherkin due to its unusual shape.
Caddo Holdings Sells 2 Uptown Dallas Office Buildings to Westdale
Flipping is on the menu at Caddo Holdings, which just sold two office towers totaling 188,800 square feet in the coveted Uptown area of Dallas, one year after acquiring them.
Salesforce Purchases San Francisco’s 50 Fremont St. from TIAA-CREF
The tech company that, just a few months ago, signed the largest office lease in San Francisco history has now agreed to what reportedly is the largest occupier deal in the city’s history.
Colony American Finance Grabs $165M Loan Portfolio, Partners with Auction.com
Colony American Finance has purchased a $165 million portfolio of acquisition lines secured by single-family homes from Archetype Credit Opportunity Fund, a private money lender backed by the original investors in Auction.com.
Kettler Sells 233-Unit Luxury M-F Property in DC for $112M
Two years ago, Kettler kicked-off construction of the $80 million luxury apartment community at 450 K St. NW in Washington, D.C., and now the company has completed the development of the 233-residence mixed-use project and sold it to Ogden CAP Properties for $106 million.
American Realty Advisors Pays $100M for M-F Asset in L.A.’s Silicon Beach
ARA, a Los Angeles-based institutional investment manager bought the high-end,196-unit property in western Los Angeles’ “Silicon Beach” district.
TIAA-CREF, Norges Bank Buy Hall of the Americas
One might surmise that not since the start of the Viking Era in the eighth century has a Nordic invasion of this magnitude been seen, though this one uses joint ventures rather than long ships.