News
JLL Signs 15-Year Extension Lease at The Aon Center in Chicago
Piedmont Office Realty Trust, Inc. recently announced that Jones Lang LaSalle (JLL), one of the world’s most trustworthy companies, has signed a 199,730-square-foot, 15-year extension lease through 2032 at Chicago’s iconic Aon Center.
Venue on 16th Apartment Community Breaks Ground in Denver’s City Park Neighborhood
The Picerne Group, a privately held real estate investment firm based in California recently announced it has broken ground on Venue on 16th, a 180-unit apartment community in Denver’s historic City Park neighborhood.
Wyndham to Open First Upscale Hotel in Kenya
New Jersey-based Wyndham Hotels and Resorts, a subsidiary of Wyndham Worldwide recently signed a management agreement for its first upscale hospitality property in Africa
Partners Group Breaks Record with Closing of $1.9B Secondaries Program
Switzerland’s Partners Group has made history with the closing of Partners Group Real Estate Secondary 2013 at its hard cap of $1.9 billion.
R&V Management Acquires M-F Asset in Otay Mesa for $150M
San Diego-based R&V Management Corp. recently greatly expanded its San Diego-area apartment portfolio as it completed the purchase of a large residential community in the city’s Otay Mesa submarket. The company acted through partnerships controlled by the local entity in order to acquire the Greenfield Village property for a total of $150 million from seller Otay Greenfield Developers LLC, an entity of Garden Communities Inc. of San Diego. The deal was arranged on behalf of both parties by a team from brokerage company Cushman & Wakefield.
NorthMarq Secures Acquisition Financing for LaPour Corporate Center
It was recently reported that NorthMarq Capital secured $12.3 million in acquisition financing for LaPour Corporate Center in Las Vegas. The Denver office of the company handled the financing with Senior Vice President Greg Benjamin and Senior Investment Analyst Jeff DeHarty heading the process on behalf of NorthMarq. The company is one of the top privately held commercial real estate financial intermediary in the country that provides mortgage banking and commercial loan servicing in 34 offices coast to coast.
Brookfield Places Winning Bid for Atlantic City’s Bankrupt Revel
It looks like Atlantic City is back to having nine casinos. Brookfield Asset Management came out on top of Tuesday’s auction of the long-troubled hotel and casino Revel Atlantic City.
RCS to Acquire Cole Capital for $700M
American Realty Capital Properties is selling Cole Capital to sister company RCS Capital Corp. for at least $700 million in a deal described as “strategically and financially important to RCAP.”
Cornerstone Grabs 368-Unit M-F Community in Stamford, Conn.
Cornerstone Apartments Property Owner has acquired Cornerstone at Bedford, a 13-story apartment community in Stamford, Conn., for $75 million from Fairfield Bedford.
Tishman JV Buys Historic Midtown South Building
A joint venture between Tishman Speyer and The Cogswell-Lee Development Group has purchased 183 Madison Ave., an Art Deco office building in Manhattan’s Midtown South office district.