News
Manulife, Allianz to Invest Up to $1B in U.S. CRE
Manulife Asset Management Private Markets has entered into an arrangement with Allianz to co-invest up to $1 billion in U.S. real estate.
Economy Watch: Homebuilders’ Optimism, Industrial Production, NY Manufacturing
Although builder confidence in the market for newly built single-family homes fell one point, builders remain optimistic. U.S. industrial production increased 1.3 percent in November. Business activity declined for New York manufacturers in December.
K2M Group Expands HQ, R&D Operations in Leesburg
Virginia Governor Terry McAuliffe announced on Friday, December 12, that K2M Group Holdings, Inc. will relocate to a larger facility. However, the global medical device company will not be leaving Leesburg.
DoubleTree by Hilton Minneapolis North Welcomes First Guests
Hilton Worldwide and DoubleTree by Hilton recently announced the official opening of the seventh DoubleTree by Hilton hotel in Minneapolis.
Stream Realty Assumes Leasing for Rosemont Realty’s San Antonio Portfolio
The entire San Antonio office portfolio of Rosemont Realty has been passed on to Stream Realty Partners. The company was already handling the leasing responsibilities of a Rosemont Realty office property, The Century Building, since the third quarter of 2013.
Alexander & Baldwin Buys Honolulu Industrial/Office Building for $39M; Lahaina Cannery Mall Sells for $58.5M
In a $39 million deal, Alexander & Baldwin Inc. has acquired Kakaako Commerce Center, a seven-story warehouse and office building in downtown Honolulu.
Marriott Debuts New Brand with 220-Key AC Hotel New Orleans Bourbon
Global hospitality giant Marriott International, Inc. has officially debuted the AC Hotels by Marriott brand in North America with the opening of the 220-key AC Hotel New Orleans Bourbon.
Grosvenor Sells BluWater Luxury Community to Coast Equity Partners for $25M
As the greater Seattle residential market continues to stimulate investors, BluWater, a luxury residential community in Everett, WA recently traded hands in a deal worth $25.5 million. The multifamily asset was acquired by Coast Equity Partners from owner Grosvenor Americas. The seller was advised by a team of Kidder Matthews representatives in the process.
ARCP’s Schorsch, Kay Say Goodbye
Both ARCP’s Chairman, Nick Schorsch, and CEO, David Kay, have stepped down from their posts amid accounting errors at the largest publicly traded net lease REIT.
INTERNATIONAL: BBC Television Centre Redevelopment Gets Green Light
A revised master plan submitted by Stanhope and Mitsui Fudosan for the iconic BBC Television Centre was approved by the London Borough of Hammersmith and Fulham planning committee.