Hines unveils new design for Mexico City project Recently, Hines unveiled Robert A.M. Stern's design for the Reforma 350 office building in the heart of Mexico City's financial district. Hines is spending about $23 million to renovate the 330,000 sq. ft., 21-story building, located on Paseo de la Reforma, Mexico City's most prestigious avenue. The building has been renamed Torre del Angel, as it is across from the Angel of Independence, Mexico's best-known monument.

This is the first Mexican project designed by Robert A.M. Stern, who is collaborating with Mexican associate architect Eduardo Terrazas. "While Hines has been developing projects internationally for over a decade, Torre del Angel is the first building we have acquired abroad," says Thomas Bacon, Hines senior vice president for Latin America.

Mansur completes first U.K. property acquisition Mansur Investment Services (MIS), has acquired its first commercial property in the United Kingdom, an historic five-story office building in London's financial district, the City. MIS paid $15 million to the Benchmark Group for the Austin-Friars 15-18 building. The building is fully leased and houses a branch of Central Hispano Bank. Mansur Investment is an affiliate of Indianapolis-based Mansur Group.

MIS Chairman Harold D. Garrison says he believes the acquisition will lead to future opportunities for MIS throughout the Continent and in the Far East. Presently MIS has offices in Boston, Indianapolis and Miami.

Celexa launches $300 million industrial RE fund Celexa Real Estate Management B.V., the Amsterdam-based investment manager and part of the European Celexa Group, is launching a pan-European private industrial property fund in the Netherlands with a target value of about $300 million by 2002.

The new fund will be the first Netherlands-based vehicle for investing in industrial, distribution and logistics centers. It will acquire lots ranging from $10 million to $45 million, through both sale-leaseback and purchase. Acquisitions will focus initially on the Netherlands, but will later expand into Germany. If the UK joins the EMU, UK industrial property will be included to increase the lease-length of the portfolio, which is estimated at more than five years.

Sonnenblick-Goldman opens Hong Kong, Singapore offices Earlier this year, New York-based Sonnenblick-Goldman Co. acquired the mergers, acquisitions and transaction advisory business of Horwath Asia Pacific, providing the firm with established offices in Hong Kong and Singapore. The new office operates as Sonnenblick-Goldman Asia Pacific.

Robert Stiles, based in Singapore, heads the entire Asia-Pacific operation, while Roger Griffin and Randall Stevens head the Hong Kong office. "We have actively sourced capital from Asia and Europe and have handled numerous property transactions overseas," says John Bralower, president of Sonnenblick-Goldman Co. "Having a presence in Asia will dramatically increase the firm's capacity."

Paddington Basin becomes a reality ... London's Paddi ngton Basin area, located in the West End along a 10-acre riverfront property next to the Paddington train station, is undergoing a transformation into a major commercial office, retail, hotel and residential center. The regeneration development, worth nearly $500 million, will include more than 1.4 million sq. ft. of offices when complete in phases over the next few years. Presently, work on the site includes a $160 million refurbishment of the Stakis Metropole Hotel, Rialto Homes is building 474 apartments worth $64 million, and a new Hilton Hotel is scheduled to open following the $64 million upgrade of Paddington's Great Western Royal Hotel.

One major draw is already in place - the $720 million Heathrow Express train, which takes passengers from Paddington Station to London's Heathrow Airport in 15 minutes, opened last year.

London's Paddington Basin development, located in the West End along a 10-acre riverfront property next to the Paddington train station, is undergoing a transformation into a major commercial office, retail, hotel and residential center. The regeneration development, worth nearly $500 million, will include more than 1.4 million sq. ft. of offices when complete in phases over the next few years. Presently, work on the site includes a $160 million refurbishment of the Stakis Metropole Hotel, Rialto Homes is building 474 apartments worth $64 million, and a new Hilton Hotel is scheduled to open following the $64 million upgrade of Paddington's Great Western Royal Hotel.

One major draw for the project opened last year. The $720 million Heathrow Express train takes passengers from Paddington Station to London's Heathrow Airport in just 15 minutes.