News
Loews Buys Boston’s 225-Room Back Bay Hotel for $84M
Continuing its mission to expand its presence in gateway cities and leading resort markets over the next five years, Loews Hotels & Resorts has acquired The Back Bay Hotel, an iconic 225-room lodging property in Boston.
CenterPoint Properties Buys 1 MSF B&N Distribution Center in NJ
CenterPoint Properties has purchased Barnes & Noble’s 1.15 million-square-foot primary distribution facility located in Monroe Twp., N.J., for $83 million from a pension fund advisory firm.
KKR to Invest $150M of Equity in Sentio Healthcare
Kohlberg Kravis Roberts & Co. is providing $150 million of equity to Sentio Healthcare Properties, a REIT that invests in seniors housing and medical facilities, to help it grow its portfolio.
Economy Watch: President Reiterates Economic Proposals; Job Openings Unchanged in December
President Obama’s State of the Union address on Tuesday focused on the economy, and in particular what he wants to do about the nervous economic state of the American middle class. And there were 3.6 million job openings on the last business day of December, little changed from November.
RioCan to Acquire Regional Malls in Greater Toronto Area
RioCan Real Estate Investment Trust has entered into a conditional agreement with Primaris Retail REIT to acquire two regional shopping malls in the Greater Toronto Area (GTA) for a combined gross purchase price of approximately $362 million.
Economy Watch Weekly: Good News on Housing, but Not on Student Loan Debt
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Feb. 8.
Economy Watch: Home Prices Up in Most MSAs; Yellen Details Reasons for Slow Job Growth
Existing single-family home prices rose in 133 out of 152 U.S. metropolitan statistical areas. And Federal Reserve Vice Chair Janet Yellen gives reasons for slow job growth at a conference.
The Rockefeller Group, IPA Break Ground on M-F Project in Suburban Phoenix
Late last summer, The Rockefeller Group and Investment Property Associates said they would break ground on the $58 million Liv Northgate in Gilbert, Ariz., in early 2013, and now they have.
MG Properties Acquires Terracina Apartments in Calif. for $95M
San Diego-based private real estate investor MG Properties Group has purchased the Terracina Apartments, a 736-unit multi-family property located in southeast Ontario, Calif., for $95 million from Colorado-based seller Archstone.
Norwegian Pension Fund Charges into U.S. Market via TIAA-CREF
Norges Bank Investment Management, manager of the Norwegian Government Pension Fund Global, has entered into a $1.2 billion JV with TIAA-CREF and has at one stroke gained substantial interests in five Class A or boutique buildings on the East Coast.