Institutional Real Estate Newsline
August 1, 2014: Vol. 22 No. 31Buy For $65.00 Add to Cart
Recent commercial real estate transactions
The largest transactions were an office in Boston and an apartment complex in Los Angeles.
JP Morgan buys Hawaiian retail mall for $700m
JP Morgan Asset Management has acquired the 310,000-square-foot Royal Hawaiian Shopping Center in Honolulu.
New York REIT pays $335m for Twitter HQ
New York REIT has purchased Twitter's headquarters in Manhattan located at 245–249 W. 17th St. in the Chelsea neighborhood.
Cousins buys North Carolina office property for $215m
Cousins Properties has purchased Fifth Third Center in Charlotte, N.C., for $215 million, or $317 per square foot.
Blackstone to buy two more assets in London
The Blackstone Group has acquired one office property in London and is planning to purchase another, for a total of pound;489.5 million ($829.5 million) in sales price.
Accesso buys Chicago office tower for $122m
Accesso Partners, formerly known as Beacon Investment Properties, has acquired 230 W. Monroe St., a 29-story, class A office tower in downtown Chicago.
GDP grows by 4% annualized in Q2
Following a GDP contraction of 2.1 percent during first quarter 2014 - the first U.S. GDP contraction in three years - U.S. GDP rebounded in a big way in the second quarter, growing by 4 percent.
Madison Realty raises $95m for recently launched debt fund
Madison Realty Capital has completed a $95.4 million first closing for its recently launched third debt fund, Madison Realty Capital Debt Fund III.
Suzanne West joins AVP Advisors as managing partner
Suzanne West has joined AVP Advisors as a managing partner, effective Aug. 1.
London's iconic Gherkin tower put up for sale
Savills and Deloitte Real Estate have been jointly instructed to sell London's iconic Gherkin tower, with an asking price of up to £650 million ($1.1 billion).
Sterling raises $95m for second fund
The Sterling Organization has raised $95 million for its recently launched Sterling Value Add Partners II, according to a filing with the SEC.
MassPRIM considers re-upping with Townsend for consulting services
The real estate and timber committee for the Massachusetts Pension Reserves Investment Management Board has recommended the selection of The Townsend Group to provide general real estate and timber consulting services.
Thorofare Capital nears $250m target for third debt fund
Thorofare Capital has raised more than 80 percent of its intended goal of $250 million for Thorofare Asset Based Lending Fund III.
QIC sells A$555m Sydney tower
QIC Global Real Estate sold an office property in Sydney to Australian pension fund REST Industry Super for A$555 million ($517.9 million) in the market’s biggest single office transaction since 2009.
Infrastructure round-up: Primal forms $1b infrastructure JV with APG
Several billion-dollar infrastructure deals were announced this past week.