REITs
Clarion Sells 50% Stake in IN Retail Fund to Inland
Inland Real Estate Corp. acquired the 50 percent ownership stake in IN Retail Fund held by its JV partner, New York State Teachers Retirement System, for $121 million in cash, making it the sole owner of the 2.3 million-square-foot Midwest retail center portfolio.
Summit Grabs Six Hotels in Deals Totaling $170M
During the period between the closing of its initial public offering in February 2011 and the end of 2012, Summit Hotel Properties Inc. amassed a portfolio of 24 properties, and with the recent purchase of six assets for an aggregate $170 million, there appears to be no end in sight to the company’s shopping spree.
CBRE Fund Buys $144M Trophy Office in Atlanta Suburb
CBRE Strategic Partners U.S. Value 6, a fund sponsored by CBRE Global Investors, has purchased Three Ravinia, a 31-story, 813,750-square-foot trophy office building in north suburban Atlanta.
Hines Purchases LA’s 325 KSF Campus at Playa Vista for $218M
Hines Global REIT Inc. has added the Campus at Playa Vista, a 325,000-square-foot office complex in the Playa Vista neighborhood of West Los Angeles, to its portfolio.
American Campus Communities Breaks Ground at Princeton
American Campus Communities has begun construction on a 325-unit faculty and staff housing project at Princeton University, its second development at the New Jersey school but the REIT’s first that’s not for students.
Chambers Street Announces Planned NYSE Listing
Less than a month after telling shareholders it was exploring ways to provide a “liquidity event,” Chambers Street Properties made it official, announcing it intends to list its common shares on the New York Stock Exchange.
DLA Piper Special Report: CMBS Back, REITs Up, Liquidity Plentiful in Capital Markets
Speaking at the DLA Piper 11th Global Real Estate Summit in Chicago yesterday, industry movers and shakers remained only cautiously optimistic about the future of commercial real estate, despite several indicators pointing to a rebirth of the field.
Behringer Harvard, CT Realty Sell Inland Empire Industrial Asset
Behringer Harvard and CT Realty had completed their strategy of increasing occupancy at the property, which the joint venture acquired in 2010.
Seeking to Boost Transparency, IPA Issues Standards for Non-Traded REITs
The Investment Program Association contends that the guidelines will boost confidence in non-listed investment vehicles by providing greater uniformity to financial reporting and valuation.