West
Construction Starts on $172M Marriott Tower in Downtown L.A.
Encompassing Marriott’s Courtyard and Residence Inn brands within a single 23-story tower, the $172 million project will target visitors to the Los Angeles Convention Center when it opens in the summer of 2014.
In $770M Deal, DEXUS Sells 16.7 MSF Industrial Portfolio to Blackstone
Affiliates of Blackstone Real Estate Partners VII picked up the 68 assets in what is being touted as the largest industrial portfolio transaction in the U.S. so far this year.
Regency Begins 280 KSF Shopping Center Outside Seattle
Regency Centers will break ground tomorrow on Grand Ridge Plaza in the master-planned development of Issaquah Highlands in Washington state.
Goodman, Birtcher Form $1.5B Partnership Targeting Industrial Properties
With an eye on developing and acquiring premier industrial and logistics properties in North America, Australia’s Goodman Group has joined forces with California’s Birtcher Development and Investments.
Cushman Arranges 1.1 MSF Industrial Lease Re-Up in California
Conopco Inc., a subsidiary of Unilever, has decided to stay put in its 1.1 million-square-foot home at 305 W. Resource Dr. in Rialto, Calif., and has renewed its contract with property owner Prologis.
Kennedy Wilson Nabs 544-Unit California Multi-Family Community for $87M
Kennedy Wilson has cast its eyes across the San Francisco Bay, acquiring the 544-unit Waterford multi-family complex in Hayward, Calif., for $86.5 million.
AEW Capital Management Awards 2.6 MSF Leasing Contract to Cushman
Cushman & Wakefield has inked a 2.6 million-square-foot management contract for 11 industrial properties owned by AEW Capital Management in the rapidly improving Southern California region.
Hines Sells 461 KSF Colorado Corporate Center to Westfield Capital Partners
The four-building, 461,438-square-foot Mountain View Corporate Center will change hands, as Hines has sold the Class A office development to Westfield Capital Partners.
CNL Healthcare Trust JVs with Sunrise Senior Living on Seven-Property, $226M Agreement
CNL Healthcare Trust has signed an agreement with Sunrise Senior Living to enter into a joint venture that will change ownership of seven communities valued at approximately $226 million. Under the agreement, CNL will own 55 percent of the JV, with Sunrise retaining the remaining interest.
Sunstone to Sell Marriott Del Mar in California for $66M
Sunstone Hotel Investors continues a portfolio repositioning strategy with an agreement to sell the Marriott Del Mar in San Diego, Calif. The lodging REIT will trade the 284-room hotel in a $66 million transaction that will include the buyer’s assumption an existing $47.2 million mortgage.