Commercial Real Estate Deals
CalSTRS Acquires Majority Interest in LCOR in $800M Deal
The deal will give CalSTRS access to thousand of apartment units, commercial space and development opportunities....
Brace Yourself For Hotel Merger Mania
Blackstone, the serial hotel company acquirer, fired the first shot in this latest round of merger fever with yesterday’s announcement that it will purchase Motel 6. ...
LaSalle Hotel Properties Closes on $177.5 M Term Loan
LaSalle Hotel Properties has closed on its new $177.5 million term loan. The seven-year term loan matures on May 16, 2019. The term loan was swapped to a fixed interest rate for the full seven-year term. ...
Normandy Partners Closes a $140M Loan for Mid-Atlantic Portfolio
The portfolio includes 10 buildings in Virginia and Maryland....
Hudson Pacific Properties to Acquire Office Properties in San Francisco, Los Angeles
Hudson Pacific Properties Inc. entered into purchase agreements to acquire offices in San Francisco and Los Angeles for a combined $179 million....
Olympic/Crown JV Acquiring Stake in New York's Olympic Tower Complex
A joint venture acquires a premier New York tower....
Starwood Originates $170M Loan for Redevelopment of One SoHo Square in NYC
The loan comes with a floating rate, a three-year term and 65 percent LTV....
Oaktree Capital, Woodridge Capital Acquire Historic Fairmont San Francisco Hotel
The world-renowned Fairmont San Francisco Hotel atop Nob Hill has been sold for nearly $200 million to a consortium led by an affiliate of Oaktree Capital Management LP and Woodridge Capital Partners LLC. ...
Rockwood Capital, Four Corners Properties Acquire 500,000-SF Silicon Valley Office Campus
Rockwood Capital LLC has acquired a vacant office campus consisting of over 500,000 sq. ft. on the border of Mountain View and Palo Alto from William Lyon Homes. Rockwood is partnering with Four Corners Properties. The purchase price was $90 million....
North American Wins Approval for $600M Mixed-Use in Georgia
North American Properties won the go-ahead April 24 from the town council in Alpharetta, Ga. to build hundreds of apartments and a million sq. ft. of retail and office space at Avalon, a $600 million mixed-use development planned to open its first phase October 2013....
Jamestown Acquires 733 10th Street in Washington, D.C. for $140M
Jamestown Properties closed on its acquisition of 733 10th St., an office and retail development in Washington, D.C.’s East End submarket, for $140 million from Skanska. ...
Tishman Speyer Closes First RMB Fund, Capitalized Solely by Chinese Investors
Tishman Speyer, a global real estate developer and investor, has closed the first RMB Fund by a foreign developer. The firm raised 1.2 billion RMB (approximately $190 million) solely from Chinese investors and will invest it in the development of a prime site in Suzhou. ...
CoStar Completes LoopNet Acquisition
LoopNet has 5.8 million registered members....
Arcturus Helps Settle $2.6B Restructuring Case Involving Atlantis Resort in Bahamas
Arcturus Group advised Canyon Value Realization Fund LP and Trilogy Portfolio Co. on strategy, valuation and debt structure. ...
GlenStar, USAA Real Estate Company Purchase Chicago Board of Trade Building for $151.5M
GlenStar Properties LLC and USAA Real Estate Company have acquired the landmark Chicago Board of Trade Building for $151.5 million from CME Group. ...
U.S. Bank Closes on $284M Loan for California Tower
U.S. Bank and Jay Paul Co. have closed on a $284.7 million construction/bridge loan that will finance Moffett Towers Phase II, a 1.03-million-sq.-ft. class-A mid-rise office project in Sunnyvale, Calif....
KKR, YTC Pacific Partner to Invest $196M in Yorktown Center
Kohlberg Kravis Roberts & Co. LP, in partnership with YTC Pacific, have invested $196 million in Yorktown Center. This marks the first retail real estate investment in the U.S. by KKR's newly formed dedicated real estate group....
Kennedy Wilson Sells Multifamily Properties in San Jose and Portland for $154 Million
International real estate investment and services firm Kennedy Wilson sold two of its West Coast multifamily properties for a total of $154 million. ...
CBRE Assists in Lease of 915,643 SF at Tinley Park Corporate Center
CBRE assisted in the lease of 915,643 sq. ft. at Tinley Park Corporate Center, located at 18801 Oak Park Avenue in Tinley Park, Ill., to M Block & Sons. ...
Weingarten Sells its Industrial Portfolio in $382.4M Deal
Weingarten has reached an agreement to sell its industrial portfolio in a $382.4 milion deal....
FelCor Agrees to Sell Six Non-Strategic Hotels
FelCor Lodging Trust Inc. has agreed to sell six non-strategic hotels for $103.0 million, in the aggregate, to an undisclosed buyer. ...
DDR Buys out JV Partners at Two Shopping Centers
DDR bought out a joint venture partner on two centers. ...
Tishman Speyer Forms JV for U.S. Office Portfolio
A joint venture between Tishman Speyer and a large pension fund has completed the acquisition of majority ownership interests in a portfolio of 16 U.S. office properties. ...
Jones Lang LaSalle Closes Sale of UnitedHealthcare Center in Hartford
Jones Lang LaSalle closed the sale of UnitedHealthcare Center in downtown Hartford, Conn., for CityPlace LLC. The 884,669-sq.-ft., 39-story class-A tower was purchased for $99 million. ...
Clarion Partners Acquires Office Building in Downtown Seattle for $137M
Clarion Partners has acquired 1600 Seventh Avenue, a 32-story, 598,000-sq.-ft. office property in downtown Seattle, Wash. for $137 million. ...
