News
INTERNATIONAL: Starwood Acquires Quattro Business Park in Poland
Global private investment company Starwood Capital Group has acquired the 500,000-square-foot Quattro Business Park in Krakow, Poland, on behalf of Starwood Distressed Opportunity Fund X.
KBS REIT III Grabs 310 KSF Silicon Valley Office Property
KBS Real Estate Investment Trust III has stepped into the Silicon Valley market with the acquisition of Ten Almaden, a Class A office property in downtown San Jose.
Greenfield Buys 390 KSF Office Tower in Downtown Tampa
Greenfield Partners has acquired Wells Fargo Center, a Class A landmark office building in Tampa, from a joint venture between Feldman Equities and Goldman Sachs.
Hudson Pacific Properties to Buy $3.5B Blackstone Office Portfolio
In a stock-and-cash transaction valued at $3.5 billion, Hudson Pacific Properties has agreed to acquire Equity Office Properties’ approximately 8.2 million-square-foot San Francisco Peninsula and Silicon Valley office portfolio from Blackstone Real Estate Partners V and VI.
Economy Watch: Gas Prices, Consumer Credit Growth
World oil markets are on track to give U.S. consumers an even better price for gasoline in the very near future. The annualized growth rate of consumer credit dropped unexpectedly.
DLC Buys 2.6 MSF Portfolio of 11 Retail Assets
DLC Management Corp. has acquired 11 retail assets, totaling 2.6 million square feet, located throughout New York, North Carolina, Arkansas and Tennessee.
Acadia Takes Majority Stake in Chicago High-Street Retail Property
Acadia Realty Trust has added a high-street gem to its core portfolio with the acquisition of an 88.4 percent stake in 840 N. Michigan Ave. in Chicago.
INTERNATIONAL: Brookfield Multiplex to Redevelop Australia’s Largest Hotel
M&L Hospitality tapped Brookfield Multiplex to expand and renovate the Four Points by Sheraton Sydney, Australia’s largest lodging facility.
Clarion, Griffin JV Acquires 533 KSF San Antonio Office Building
A joint venture between Clarion Partners and Griffin Partners has purchased the Bank of America Plaza, a 28-story office building in downtown San Antonio.
Townhome Project SOJO Crossing to Be Developed in San Antonio
In the Tobin Hill neighborhood, just one block away from the Museum Reach of the San Antonio River Walk, a community of 27 well-appointed townhome residences will begin to take shape. SOJO Crossing is the project of SOJO Urban Development LLC; they will work in collaboration with Alamo Architects and IDS Engineering Group.