Midwest
Breaking News: TIAA, CBL Partner for $1.1B on Four Shopping Malls
Call it a sign that retail is a hot commodity once again: TIAA-CREF and CBL & Associates Properties Inc. have just closed a $1.1 billion joint venture to invest in shopping malls.
DLA Piper Panelists: REITs Doing Well, but the CRE Market is Mostly Brutal
On the final day of the DLA Piper Global Market Summit in Chicago, panelists were honest about what scares them in CRE market trends but pointed out that REITs are still a bright spot for the industry.
Zell, Zuckerman Headline at DLA Piper Global Market Summit
Real Estate mavens Sam Zell and Mort Zuckerman co-headlined the DLA Piper Global Real Estate Summit held yesterday in Chicago, and both offered perspectives on how the political climate is affecting CRE.
Trade Street Capital Purchases 560-Unit Nashville Luxury Multi-Family for $71M
Trade Street Capital just sold the 560-unit Wyndchase Aspen Grove multi-family property to a real estate fund advised by Crow Holdings Capital Partners, L.L.C. for $71 million.
MEPT Spends $217.5M for Chicago’s 200 W. Madison
Multi-Employer Property Trust has purchased Chicago’s 45-story 200 W. Madison Ave. from a joint venture that includes Tishman Speyer, Pearlmark Real Estate Advisors L.L.C. and a major U.S. pension plan for approximately $217.5 million.
GGP, Canada Pension Plan Partner on Plaza Frontenac, Saint Louis Galleria
General Growth Properties and Canada Pension Plan are teaming up, forming a partnership to purchase the upscale 482,000-square-foot Plaza Frontenac and for CPPIB to acquire a minority stake in GGP’s 1 million-square-foot Saint Louis Galleria.
NorthMarq, Cushman Merge Minnesota Operations
NorthMarq president Jeff Eaton calls it “a great partnership.” Cushman & Wakefield SVP Clint Miller says the same. Both spoke with CPE about the two firms’ merger to create the Minnesota-based Cushman & Wakefield/NorthMarq Real Estate Services.
CBRE Facilitates 2.1 MSF Industrial Portfolio Sale
CB Richard Ellis just completed the sale of a seven-asset, 2.1 million-square-foot national portfolio consisting of 10 buildings throughout Georgia, Michigan, Minnesota, Ohio and Texas.
Iconic Wrigley Building Sold to BDT Capital, Groupon Co-Founders
In a move as noteworthy for its investors as for its property, the Wm. Wrigley Jr. Co. announced that it sold Chicago’s iconic Wrigley Building to a consortium of investors for an undisclosed amount.
AREA Property Partners Acquires $215M Apartment Loan Portfolio
AREA Property Partners, in a joint venture with McDowell Properties, has acquired a portfolio of defaulted loans valued at $215 million, secured by 17 apartment properties encompassing an aggregate 4,733 residences.