Office
JV Picks Up 1 MSF Chicago Office Tower in $350M Sale-Leaseback
In what’s being touted by industry leaders as Chicago’s largest office sale in 2012, the 1 million-square-foot office building at 540 W. Madison St. came under new ownership in a $350 million sale-leaseback transaction.
Microsoft Takes 200 KSF at 11 Times Square
Microsoft has committed to a big chunk of space at 11 Times Square with the signing of a new lease for 200,000 square feet at the state-of-the-art, 1.1 million-square-foot office and retail skyscraper.
FirstService Expands Into Commercial Property Association Management
Merit Property Management has acquired Mar West Real Estate, a major provider of commercial property association management services in the western United States, with operations in California, Arizona and Nevada.
Wells REIT II Acquires 657 KSF Office Tower in San Francisco
Wells Real Estate Investment Trust II has acquired 333 Market St., a 33-story Class A office tower in the heart of San Francisco’s financial district, for a reported $447 million from the Korean Federation of Community Credit Cooperatives.
Clarion Nabs $296M Financing for M-F Office Portfolio
Clarion Partners will have some hefty payments to make in the new year, now that a $296 million financing package for a 10-building, 1.6 million-square-foot portfolio of Class A office buildings it owns has been completed.
24-Property CRE Portfolio Reels in $607M in Financing
Acting on behalf of a pension fund advised by Invesco, RREEF Real Estate and TA Associates Realty, HFF has orchestrated financing totaling $607 million for a real estate portfolio encompassing 5 million square feet of commercial space and 3,499 multi-family units.
NGKF Parent Buys Partner Firms in Philly, Denver
BGC Partners, the parent entity of Newmark Grubb Knight Frank, has acquired two prominent regional CRE firms, one in Philadelphia and one in Denver.
Rosemont Buys 381 KSF Nashville Office Complex
Rosemont Realty just increased its footprint in the Nashville, Tenn., office market by 381,000 square feet with the acquisition of Lakeview Place.
Local Investors Purchase 190 KSF Building in Dallas’ Historic West End
A group of local investors headed by Slingshot Advertising CEO Owen Hannay has acquired 501 Elm Place, an approximately 190,000-square-foot landmark building in the heart of Dallas’ West End District, from a German investor group represented by International Capital.
Steelbridge Capital, Apollo Global JV Buys Miami Office Tower
In a JV, Steelbridge Capital and a real estate investment fund managed and advised by affiliates of Apollo Global Real Estate Management have acquired Concorde Centre II, the largest office purchase in Aventura, Fla. this year.