Midwest
KTR Closes on 7.8 MSF of Industrial Across Five Markets
KTR Capital Partners has just closed on 7.8 million square feet of industrial space across 18 buildings located in central New Jersey, Chicago, Dallas, Atlanta and Columbus, Ohio.
Miami-Based Investment Firm Grabs 30-Story Chicago Multi-Family Tower
CH South Michigan Apartments, a vehicle of Miami-based Crescent Heights, purchased Chicago’s 1212 S. Michigan Ave., picking up the 30-story, 344-unit tower for approximately $60 million.
Breaking News: Equity Residential to Pick up $1.3B, 26.5% Ownership in Archstone
In a huge move for the Sam Zell-helmed Equity Residential, the firm has entered into a contract for a 26.5 percent ownership stake in Archstone, a privately held owner, operator and developer of multi-family apartment properties.
L&B Nabs Chicago Apartment Tower for $90M
L&B Realty Advisors has made another pickup in the Chicago market with the $90 million purchase of 77 West Huron, a 25-story luxury high-rise building, from previous owner Archstone.
W.P. Carey REIT Affiliate Pays $163M for Self-Storage Portfolio
Corporate Property Associates 17-Global Inc., a non-traded REIT affiliate of W.P. Carey & Co., has spent $163.4 million on a 42-property portfolio of self-storage facilities located in California, Illinois and Hawaii.
Impactful Women
Five remarkable women were awarded CREW Network’s 2011 Impact Awards. CPE offers videotaped insights and written profiles of these pioneers, negotiators and mediators — specializing in development, service and finance.
Chicago’s Elysian Hotel Sold, to Become Waldorf-Astoria
The Elysian Hotel Chicago, a luxury lodging destination, has been purchased by a joint-venture investment group and will soon reopen under the Waldorf-Astoria brand.
Chicago to Get 42-Story, $114M Apartment Tower
DeBartolo Development and partner Optima are building the 332-residence mixed-use Optima Center multi-family property at a cost of $114 million in Chicago’s Streeterville neighborhood.
$85M for 3-Building Indianapolis Office Portfolio
Despite “weak” demand for suburban Midwest office properties, an institutional investor has snapped up Intech I, II and III, a 433,972-square-foot portfolio in the Northwest market of Indianapolis, for $85 million.
Exclusive: Industrial Vacancies Set to Decline Through 2015, Cushman Report Shows
In an exclusive interview with CPE, commercial real estate services firm Cushman & Wakefield sees industrial vacancy rates dropping “considerably” over the next five years, going as low as 6.6 percent by 2015.