News
ARCP to Absorb ARCT IV, Valued at $3B
Nicholas Schorsch continues building American Realty Capital Properties into a dominating player in the net-lease space with yesterday’s announcement that it is merging with American Realty Capital Trust IV Inc., a public non-traded REIT, in a stock and cash deal worth about $3 billion.
Economy Watch Weekly: Economy Grew Little in 1Q13, Other Good News
CPE’s economic analyst, Dees Stribling, gives his update for the week ending June 28.
Starwood Reopens Historic Parisian Hotel
Starwood Hotels & Resorts Worldwide unveiled the restored Prince de Galles, a venue that is currently part of the Luxury Collection Hotels & Resorts brand.
ARC NYRR to Buy Office Building in Midtown Manhattan from SL Green for $220M
American Realty Capital New York Recovery REIT has agreed to acquire the office building at 333 W. 34th St. in Midtown Manhattan from SL Green Realty for $220 million, exclusive of closing costs.
The Rockefeller Group Names Nakajima Acting President, CEO
Atsushi Nakajima has been named acting president & CEO of The Rockefeller Group, succeeding Kevin Hackett, who recently completed a four-year term in those positions and joined the global law firm Proskauer as a member of its Private Equity Real Estate practice.
Economy Watch: Construction Spending, EU Unemployment Rise; Manufacturing Expands in May
Construction spending during May was 0.5 percent above the revised April rate. Unemployment in the eurozone continued creeping upward in May. And the ISM manufacturing index pointed to expansion in June.
Sage Hospitality Increases Portfolio with Éilan Hotel Resort & Spa
The Premier and Lifestyle Division of Sage Hospitality has extended with the company’s purchase of the Éilan Hotel Resort & Spa. This division is of interest to the management who invests in its growth through the addition of vibrant and progressive hotels, connecting modern luxury with harmonious style and design.
Tech Firm Triples HQ with New Silicon Alley Lease in NYC
Midtown South continues to gain steam as Manhattan’s tech hub, and a new startup, PlaceIQ, just staked its claim to office space in the Silicon Alley neighborhood of the submarket with a new lease agreement.
Berkshire Acquires 280-Unit Community in Metro Denver Area
Berkshire Partners has acquired Alta Aspen Grove, a 280-unit luxury garden-style apartment community in Littleton, Colo., from Wood Partners.
Capri, Kennedy Wilson Buy LA Apartment-Marina for $225M
Capri Capital Partners and Kennedy Wilson have acquired the leasehold interest in Esprit, a 437-unit luxury multi-family project that includes a 227-slip marina, in the Marina del Rey area of Los Angeles.
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