News
Colliers Expands in Germany, Netherlands
Colliers International has acquired controlling interests in Colliers Schon and Lopez Schmitt GmbHand in Trombello Kolbel Immobilienconsulting GmbH, both in Germany, as well as a controlling interest in Urban Properties International Real Estate Management B.V., a leading asset and property management firm in the Netherlands, First Service Corp., Colliers’ parent entity.
World’s Tallest Twisted Tower Unveiled in Dubai
Cayan Investment and Development has inaugurated the world’s tallest twisted building: Cayan Tower. Previously called the Infinity Tower, the 1,017-foot-tall residential tower joins other record-breaking structures in Dubai Marina, such as the world’s tallest hotel – JW Marriott Marquis – and the world’s tallest residential tower – Princess Tower – adding a little “twist” to Dubai’s skyline.
Allied, Brickman Buy NYC’s Historic Brill Building for $186M
Allied Partners and Brickman have something to sing about. The real estate investment company and the private equity firm have completed the acquisition of The Brill Building, the landmark Manhattan tower that has long been synonymous with the music scene, for $186 million.
Schorsch Strikes Once Again: Acquires First Allied Holdings
Calling it another step forward for RCAP Holdings, Nicholas Schorsch, chairman & CEO of American Realty Capital and sister company RCAP Holdings, said it was expanding into the independent broker-dealer financial services business with the acquisition of First Allied Holdings, of San Diego.
Economy Watch: Fewer Homes Underwater in Q1; SoCal Housing Sales, U.S. Oil Production Spike
About 850,000 residential properties were no longer underwater as of the end of the first quarter of 2013. The sales velocity of residential properties in Southern California was at its highest level in seven years. And the United States experienced the largest single-year increase in oil production in history, up about 14 percent for the year to 8.9 million barrels per day.
Eagles to Spend $125 Million for Linc Revitalization
Lincoln Financial Field, the Philadelphia Eagles’ home for ten years, is on track for a two-year long revitalization process that aims to create an improved fan experience for the South Philadelphia venue, officials announced recently.
Chatham Lodging Trust to Acquire Pittsburgh Hyatt Place for $40M
Chatham Lodging Trust has agreed to purchase the 178-room Hyatt Place Pittsburgh/North Shore near downtown Pittsburgh for $40 million. Scheduled for completion by June 17, the transaction is subject to customary closing requirements and conditions.
San Francisco Bay Area Properties Put Up for Sale as California Looks to Pay Off Wall of Debt
The Department of General Services is planning the sale of a large section of surplus land in its administration, and marketing has commenced for the property. According to a press statement, the DGS will be listing the property and talking with interested buyers until the 3rd of October, this year. The 81 acres of land that are being offered up for sale by the state of California were once belonged to the former Agnews Developmental Center.
Cushman & Wakefield | Thalhimer Brokers Office Condo Sale, Local Colliers Chapter Increases Management Portfolio
Cushman & Wakefield | Thalhimer announced the sale of a Charleston County office asset for $340,000.
New York-Based Co. Buys Hope Valley Square in Durham for $7.7M
An affiliate of DNA Partners of Cold Spring Harbor, N.Y. has acquired the 40,524-square-foot Hope Valley Square retail center in Durham.