Property Management
Twitter Chat: Rakesh Kishan on Today’s Corporate Real Estate Strategies
Rakesh Kishan, president & executive managing director of real estate and facilities management consulting firm UMS Advisory, chatted with CPE on Twitter about corporations’ post-recession priorities and outsourcing needs.
JLL, HSBC Sign Record-Setting Facilities Management Contract
In what reportedly is the largest outsourcing contract of its kind by a financial services firm, Jones Lang LaSalle has been selected by banking giant HSBC as its sole global outsourcing provider of integrated facilities management services.
Aimbridge Hospitality Secures Management of 103 Former Jameson Hotels
Aimbridge Hospitality has has added 103 assets of former Jameson Inns, owned by Colony Capital.
Caruso Targets a Host of Properties in Central Pacific Palisades for Renovation and Rebranding
The central properties seem to have cost Caruso a total amount in the $40-$50 million range. However, the financial terms of the transaction were not disclosed to the media and an accurate number is currently not available. Most of the properties are currently tenant-free and are 50-60 years old, making them perfect for a complete overhaul. The Times points out that even the tenants in place have clauses in their short-term contracts that stipulate that the owner has the right to modify the property and redevelop the site. Continue reading →
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.
Retail Properties of America Inc. Sells Aon Hewitt Property; Walgreens Opens Store in Restored Noel State Bank Building
Retail Properties of America Inc. has announced the sale of the Aon Hewitt Property. Located in Lincolnshire, Ill. at 4 Overlook Point, the 818,686-square-foot office property is fully leased to Aon Corporation. The six-story office building is situated around 31 miles north of Chicago and was sold for $148 million to an undisclosed buyer.
New York Investors Buying Up Prime Office Properties in Downtown Chicago
A venture led by Michael Silberberg of Nanuet, N.Y.-based Berkley Properties LLC has agreed to buy the downtown Chicago Bank of America Building for $97 million.
Joshua Green Corp. Invests $200M in Urban Renaissance Group
With an investment valued at $200 million, the Joshua Green Corp. has taken its relationship with real estate operating company Urban Renaissance Group L.L.C. to a new level.
Veterans Offer Rx for Healthcare Property Management
A trio of industry veterans speaking at the Institute of Real Estate Management’s fall conference last week offered a snapshot of rapid changes in healthcare, which poses a challenge for real estate owners, as well as medical professionals.
FirstService Merges Three Residential Management/Preservation Subsidiaries
FirstService Corp. of Toronto has merged its FirstService Residential Realty, TenantAccess and Property Access subsidiaries, which will operate as one in Fort Lauderdale.