Regions
New JV to Invest $100M for Recap, Ownership of Chicago’s Prudential Plaza
The iconic 2.2 million-square-foot Prudential Plaza in Chicago will be upgraded and repositioned thanks to a $100 million recapitalization and ownership change at the Class A office towers in the city’s East Loop neighborhood.
World’s Tallest Twisted Tower Unveiled in Dubai
Cayan Investment and Development has inaugurated the world’s tallest twisted building: Cayan Tower. Previously called the Infinity Tower, the 1,017-foot-tall residential tower joins other record-breaking structures in Dubai Marina, such as the world’s tallest hotel – JW Marriott Marquis – and the world’s tallest residential tower – Princess Tower – adding a little “twist” to Dubai’s skyline.
Allied, Brickman Buy NYC’s Historic Brill Building for $186M
Allied Partners and Brickman have something to sing about. The real estate investment company and the private equity firm have completed the acquisition of The Brill Building, the landmark Manhattan tower that has long been synonymous with the music scene, for $186 million.
Chatham to Buy 178-Room Hyatt Place Pittsburgh/North Shore
Chatham Lodging Trust is about to enter Pittsburgh city limits. The hotel REIT just inked a deal to acquire the Hyatt Place Pittsburgh/North Shore from its developer, a joint venture involving Continental Cos. and Rockridge Capital.
Oil-Fueled Norwegian Fund Buys 2.4 MSF Industrial Portfolio in UK
LondonMetric Property Plc, a real estate investment trust, has recently completed the sale of its stake in a large distribution portfolio to a joint venture between U.S.-based Prologis’ European branch and Norges Bank Investment Management.
Muss Development to Build New Foxwoods Resort in Catskills
Foxwoods Resort Casino and Muss Development have signed a partnership agreement to build a destination resort style casino and hotel on a 500-acre site in Liberty, New York.
Carey Watermark Buys NYC Holiday Inn Hotel for $113M
Carey Watermark Investors has made its first New York City acquisition with the $113 million purchase of the 226-room, 24-story Holiday Inn Manhattan 6th Avenue in Chelsea.
Meridian Arranges $55M Refi of 5 Columbus Circle in NYC
Five Columbus Circle, the 225,700-square-foot office tower at 1790 Broadway in Manhattan, has been refinanced to the tune of $55 million.
Barwa RE Unveils Plans for $5.5B M-U Resort in Qatar
Barwa Real Estate, one of Qatar’s leading real estate management and investment companies, has launched a $5.5 billion residential and resort project slated to rise on an artificial island off the coast of Doha.
Tishman Speyer Acquires 570 KSF Paris Office Building
Global real estate owner, operator and developer Tishman Speyer has acquired Tour Pacific, a 570,000-square-foot office building in Paris from Ivanhoe Cambridge.