The Blackstone Group
Hawaii Hotel Fetches $200M
Continuing its portfolio upgrade, Xenia Hotels & Resorts sold its leasehold interest in the 693-key Aston Waikiki Beach Hotel in Honolulu, four years after acquiring the property for $183 million.
Blackstone Snags Industrial Portfolio for $1.8B
With the closing of the transaction, Blackstone Real Estate Income Trust has added 22 million square feet of last-mile infill warehouse and distribution facilities to its holdings.
Equity Office Secures New Tenant at Chicago Office Building
Gartner Inc. will be moving its Midwest operations to one of Equity’s River North Point’s assets in order to accommodate its business expansion.
Blackstone Rearranges Top Execs
Jonathan Gray has been named president & COO, as Tony James moves into the executive vice chairman slot. In addition, two longtime execs will co-head global real estate, the position Gray is vacating.
Magellan Completes $375M Investment Strategy
The company sold two Commerce, Calif. industrial properties for a total of $77.6 million, finishing off its three-year investment, development and disposition value-add plan.
CBRE Global Investors Takes 2 Office Towers in LA Region
HFF marketed the properties on behalf of the seller and procured the buyer. The Blackstone Group had owned the properties as part of its Equity Office portfolio.
Prologis, Norges Buy 1, Sell More
The joint venture partners wrapped up the acquisition of a San Francisco-area industrial property and the disposition of a 3.1 million-square-foot national logistics portfolio, which was picked up by a Blackstone affiliate. Together, the transactions involved a total of $310 million.
Wyndham to Buy La Quinta for $2B
The transaction will expand Wyndham’s hotel portfolio to 21 brands and more than 9,000 properties, and result in the spinoff of La Quinta’s owned real estate assets into the newly formed CorePoint Lodging Inc., which will hold the distinction of being the only pure-play, publicly traded REIT focused exclusively on midscale and upper-midscale lodging.
Hudson Pacific to Sell 4 Office Assets for $255M
Different buyers will purchase the properties, which are located in premier markets in Northern and Southern California. The proceeds will go toward value-add acquisitions.
Blackstone to Buy Canada’s Pure Industrial REIT for $3B
Blackstone intends to make this investment through Blackstone Property Partners for its Core+ real estate investment unit. The all-cash transaction is expected to close in the second quarter.