Institutional Real Estate Newsline
September 15, 2008: Vol. 15, No. 35Buy For $65.00 Add to Cart
Allianz Acquires 25% Stake in New York City Office Building
Allianz has acquired a 25 percent stake in a New York City office building, located at 1301 Avenue of the Americas, for approximately $110 million.
Behringer Harvard Announces Public Offering of Multifamily REIT
Behringer Harvard Multifamily REIT I, a public non-listed real estate investment trust, filed a registration with the Securities and Exchange Commission (SEC) Sept. 9 to raise in excess of $2 billion in an initial public offering through the sale of up to 200 million shares of common stock at $10.00 per share.
Buchanan Street Partners Finances a $218.4 Million Retail Construction Project
Buchanan Street Partners will structure all of the capital financing for a $218.4 million retail construction project on behalf of Red Mountain Retail and Allied Retail Partners to develop El Portal Entertainment Center in South Gate, Calif.
Guggenheim Partners to Launch $1.5 Billion Debt Fund
Guggenheim Partners will launch Guggenheim Structured Real Estate IV in October. The opportunistic fund will target an equity raise of $1.5 billion to invest in U.S. structured commercial real estate debt, including whole loans, B-notes, mezzanine debt and CMBS transactions.
ING Real Estate Eurosiris Fund Reaches €750 Million
ING Real Estate Select, which is ING Real Estate’s dedicated multi-manager business, has reached €750 million ($1.1 billion) in equity commitments for its open-end fund of funds, Eurosiris, which launched in 2006.
Propinvest Acquires Banco Santander
London-based real estate investor Propinvest has completed the acquisition of Banco Santander’s global headquarters complex in Madrid for €1.9 billion ($2.7 billion), representing the largest single European real estate acquisition ever completed.