News
Brandywine Realty Trust Buys Austin’s Four Points Centre
Brandywine Realty Trust recently paid $47.3 million to buy Four Points Centre and related land parcels in Austin. The acquisition was announced on December 20. At the same time, Brandywine, one of the largest, publicly traded, full-service, integrated real estate companies in the United States, also announced it purchased the remaining common ownership interest in One and Two Commerce Square, in Philadelphia’s Central Business District, for $331.8 million.
New Partnership between LaSalle Investment Management and Harvest Properties Completes First Purchase as Silicon Valley Tech Buzz Continues
Fueled by the numerous investment opportunities that are currently available in the booming tech market of Silicon Valley, commercial real estate company Harvest Properties has moved on the market for one of the most high-profile office assets in San Jose. The full service investment and development firm recently announced the purchase of 60 South Market St. for a fee that was not released to the public. This is the company’s first acquisition as part of the newly formed partnership that Harvest has created with LaSalle Investment Management.
John Hancock Acquires Iconic 200 South Wacker Tower
After KBS REIT III acquired the 1.5 million-square-foot tower located at 500 West Madison Street in downtown Chicago earlier this month, another skyscraper has changed owners in Chicago. The 40-story 200 South Wacker has been acquired by John Hancock for $214.5 million.
Skanska Takes On 3 New Projects Across Europe
One of the largest project development and construction groups Skanska has lined up three development projects across Europe – in Czech Republic, England and Sweden.
Capital Senior Living Acquires 4 Properties for $65M
Capital Senior Living Corp. has acquired four seniors housing properties for a combined purchase price of $65 million.
Economy Watch: Holiday Spending Rises Compared With ’12; Personal Income, Spending Surge in November
Consumer spending for a wide variety of goods associated with gift-giving from Nov. 1 to Dec. 24 was up 2.3 percent compared with the same period last year. And total personal income increased by 0.2 percent in November.
NorthStar Closes $345M Manufactured Housing Portfolio
NorthStar Realty Finance Corp. continues to build up the manufactured housing segment of its holdings by leaps and bounds with the recent $345 million closing of a $400 million portfolio of 16 communities.
KKR Raises $1.5B for Its First RE Fund
Strong interest from a variety of investors helped KKR amass $1.5 billion for its first real estate fund in only six months. The KKR Real Estate Partners Americas fund is now closed and the global investment firm is continuing to put the money to work.
L3C Capital Partners Selects Village Green to Manage The Munsey in Downtown Baltimore
Baltimore’s Munsey Building was recently acquired by L3C Capital Partners LLC. According to The Baltimore Business Journal, the New York-based investment company paid $18.35 million for the building. Now, the new owner has selected Village Green, a Detroit-based apartment manager and owner, to manage the historic community
Carey Watermark Investors Buys Renaissance Chicago Downtown for $139M
Carey Watermark lodging REIT picked up the 553-guestroom Renaissance Chicago Downtown Hotel from the Royal Bank of Scotland Group for $139 million, marking downtown Chicago’s largest hotel trade this year.