Mixed Use
HFF Markets $133M Loan for M-U Development in Texas
HFF has sold a $133 million non-performing loan secured by Watters Creek at Montgomery Farm, a mixed-use development in Allen, Texas, on behalf of a five-member bank group to a joint venture group led by Fort Worth-based Trademark Property Co.
Related Cos.’ Hudson Yards Breaks Ground on 26-Acre Manhattan Site
After years in the planning stages, construction of New York City’s largest private development since Rockefeller Center finally got underway Tuesday as city officials joined leaders of Related Cos. and Oxford Properties Group at the groundbreaking of the 26-acre, mixed-use Hudson Yards project.
Macerich’s Tysons Tower Signs Intelsat to 188 KSF Lease
Macerich, owner and master-developer of McLean, Va.-based Tysons Corner Center, has signed satellite service provider Intelsat to a 15-year, 188,000-square-foot lease to serve as the future office tower’s anchor tenant.
SL Green Sells London Asset for $100M
SL Green Realty Corp and its partner Westcore Properties have sold their shares in the Jersey Property Unit Trust, which owns a long-term leasehold interest in Procession House, a Class A office building in London to a U.K.-based property company for $100 million.
JV Plans $136M Redevelopment Project in Toronto’s Downtown West
RioCan Real Estate Investment Trust, Allied Properties Real Estate Investment Trust and Diamond Corp. have entered into an agreement to purchase the Globe & Mail Lands in Toronto for $136 million. The transaction is expected to close in mid-December 2012.
Yoma Strategic to Purchase 80 Percent Stake in 2 MSF M-U Development in Yangon
Yoma Strategic Holdings entered into a sale and purchase agreement with Serge Pun & Associates Limited to acquire rights to participate in the development of about 10 acres of land in downtown Yangon, Myanmar.
$100M Financing Deal in Place for Dallas’ 1 MSF M-U Shops at Park Lane
With the assistance of HFF, Northwood Investors L.L.C. has secured $100 million in financing for a segment of the 1 million-square-foot mixed-use development from ING Investment Management.
Australian Lend Lease to Redevelop $2B Project in the ‘Elephant & Castle’ Area of London
Sydney, Australia-based Lend Lease Group has been granted planning permission from the Southwark Council for a redevelopment project that will feature 284 new homes in the Elephant & Castle area of London.
Hyatt to Open First Hyatt Regency-Branded Hotel in Bangkok
Hyatt Hotels Corporation has announced plans to open its first Hyatt Regency-branded hotel in Bangkok, to be completed in 2017.
Boston-Based Sibley Acquires 2 MSF Historic Rochester M-U Property
Sibley Redevelopment L.P., an affiliate of WinnDevelopment, the real estate development arm of WinnCompanies, acquired the Sibley Building, located in the central business district of downtown Rochester, N.Y.