Investors Ink Major Hotel Deals in L.A., Chicago
Deep-pocketed investors are returning to hotels as an investment vehicle, with two more big properties changing hands recently in major U.S. markets.
Lingerfelt Snaps Up Liberty Property Portfolio for $100M
Lingerfelt Cos. increased its large presence in the greater Richmond, Va., area by a whopping 919,000 square feet in one fell swoop with the purchase of a 14-building office and flex portfolio from Liberty Property Trust.
Behringer Harvard Sells 390-Unit San Francisco Apartment Property for $110M
Behringer Harvard just sold Waterford Place, a 390-residence apartment community in Dublin, Calif., for approximately $110 million. But it remains interested in the San Francisco market.
SL Green, Vornado Maintain Majority Stake in Recapitalization of 280 Park
Broadway Partners and Investcorp have announced a recapitalization and redevelopment of 280 Park Ave. in Manhattan that retains their majority stake while placing the total capitalization of the Class A asset at an estimated $1.4 billion.
DiamondRock to Shell Out $335M for Radisson Lexington Hotel
The lodging REIT signed on the dotted line of an agreement to acquire the 712-room room property from Lexington Hotel L.L.C., a partnership involving The Blackstone Group L.P., Whitehall Street Real Estate L.P. XII and Goldman Sachs.
SL Green Takes Over 205,000-SF N.Y. Office Condo
The transaction marks a regaining of space that had been sold at the top of the market to Gotham Realty.
Liberty Property Trust Sells 14 Virginia Properties
The $97 million portfolio, which was sold to Lingerfelt Development, totals 918,889 square feet.
General Growth Refinances Seven Malls to the Tune of $1.7B
The move is in accord with the REIT’s post-bankruptcy goal of reducing outstanding debt.
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