{"id":1004266376,"date":"2018-09-20T10:57:00","date_gmt":"2018-09-20T18:57:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004266376"},"modified":"2022-12-08T17:29:46","modified_gmt":"2022-12-09T01:29:46","slug":"ivanhoe-cambridge-acquires-callahan-capital-properties","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ivanhoe-cambridge-acquires-callahan-capital-properties\/","title":{"rendered":"Ivanho\u00e9 Cambridge Acquires Callahan Capital Properties"},"content":{"rendered":"<p>By Holly Dutton<\/p>\n<p>Canada-based real estate investment firm Ivanho\u00e9 Cambridge has acquired private equity firm Callahan Capital Properties (CCP), effective immediately, the companies announced today.<\/p>\n<div id=\"attachment_1004179489\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/85_Broad_61.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004179489\" data-attachment-id=\"1004179489\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-named-leasing-agent-for-85-broad-st\/85_broad_6-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/85_Broad_61.jpg\" data-orig-size=\"800,607\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1436216511&quot;,&quot;copyright&quot;:&quot;Alan Schindler Photography&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"85_Broad_6\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;85 Broad St.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/85_Broad_61.jpg?w=800\" class=\"wp-image-1004179489 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/85_Broad_61.jpg\" alt=\"\" width=\"300\" height=\"228\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/85_Broad_61.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/85_Broad_61.jpg?resize=300,228 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/85_Broad_61.jpg?resize=768,583 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004179489\" class=\"wp-caption-text\">85 Broad St.<\/p><\/div>\n<p>Terms of the deal were not disclosed. Eastdil Secured advised Ivanhoe Cambridge on the acquisition.<\/p>\n<p>Since 2012, Ivanho\u00e9 Cambridge and Chicago-based CCP had a strategic relationship with the aim of expanding Ivanhoe Cambridge\u2019s U.S. office properties platform. At the time of the deal closing, the platform\u2019s assets under management in the U.S. were valued at more than $10 billion.<\/p>\n<p><em>\u201cWe thank Tim Callahan and Michael Colleran for helping us build a strong platform of high-quality office properties in the United States,\u201d said Daniel Fournier, Chairman and Chief Executive Officer, Ivanho\u00e9 Cambridge, in prepared remarks. \u201cWe are delighted to welcome a team of experienced professionals in this transition to Ivanho\u00e9 Cambridge and to prepare the strategy for the next steps in our plan for our U.S. Office platform.\u201d<\/em><\/p>\n<p>Ivanho\u00e9 Cambridge\u2019s office assets in the U.S. include properties in several major cities, including 85 Broad Street, 1211 Avenue of the Americas, 1411 Broadway and Three Bryant Park in New York City, One Boston Place in Boston and the PacMutual complex in Los Angeles.<\/p>\n<p>Through subsidiaries and partnerships, the company holds interests in more than 1,000 buildings worldwide in a wide range of real estate sectors. Ivanho\u00e9 Cambridge is a real estate subsidiary of a&nbsp;Quebec-based institutional investor.<\/p>\n<p>The acquisition comes during a busy year for mergers and acquisitions. In March, Brookfield Property Partners entered into an agreement <a href=\"https:\/\/www.commercialsearch.com\/news\/brookfield-secures-partners-for-15b-purchase-of-ggp\/\">to purchase GGP for $15 billion<\/a>. In May, Newmark Group, shortly after it\u2019s initial public offering, announced its purchase of retail firm RKF, followed later that month by Blackstone Group L.P. acquiring Gramercy Property Trust, an industrial REIT, in a $7.6 billion deal.&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The companies had a strategic partnership since 2012, growing their U.S. office portfolio to more than $10 billion.<\/p>\n","protected":false},"author":745,"featured_media":1004179489,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,23891,21742,21747],"tags":[33566,42113,33565,42116,35529],"class_list":["post-1004266376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-national","category-latest","category-office","tag-callahan-capital-properties","tag-daniel-fournier","tag-ivanhoe-cambridge","tag-michael-colleran","tag-tim-callahan"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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