Transaction Highlights: November 2021
October 28, 2021
A coast-to-coast roundup of noteworthy office and industrial deals.
SALES
Property | Asset Type | Location | Buyer | Seller | Notes/Arranged By | Value | Date Announced |
One Memorial | Office | Cambridge, Mass. | MetLife Real Estate Investment, Norges Bank Investment Management | Oxford Properties Group, JPMorgan Chase | – | $825 Million | 26-August |
PG&E Headquarters | Office | San Francisco | Hines Interests | Pacific Gas and Electric Corp. | CBRE represented the seller. | $800 Million | 31-August |
Safeco Plaza | Office | Seattle | Boston Properties | Vestas Investment Management | CBRE represented the seller. | $465 Million | 3-September |
153 Townsend Street | Office | San Francisco | Ellis Partners | American Realty Advisors | Northwestern Mutual provided financing. | $225 Million | 14-September |
Two Financial Center | Office | Boston | Nan Fung Group | Lincoln Property Co., ASB Real Estate Investments | – | $210 Million | 27-August |
3100 Lomita Blvd | Industrial | Torrance, Calif. | Rexford Industrial | Private Investor | – | $182 Million | 23-August |
FINANCING
Property | Asset Type | Location | Type of Financing | Lender | Arranged By | Borrower / Notes | Amount | Date Announced |
Los Angeles Office Portfolio (4 Properties) | Office | Los Angeles | Refinance | Wells Fargo | – | Douglas Emmett | $625 Million | 20-August |
The Artise | Office | Bellevue, Wash. | Construction | KKR | JLL arranged the financing. | Schnitzer West | $521 Million | 14-September |
The Jacx | Office | Long Island City, N.Y. | CMBS | Bank of America | – | Tishman Speyer | $425 Million | 20-August |
National Office Portfolio (27 Properties) | Office | Nationwide | Refinance | PNC Bank | – | Menlo Equities | $400 Million | 8-September |
Bronx Logistics Center | Industrial | Bronx | Construction | KKR | JLL arranged the financing. | Dune Real Estate Partners | $381 Million | 27-August |
10 Times Square | Office | Manhattan | Refinance | Deutsche Bank | – | L.H. Charney Associates | $241 Million | 13-September |
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