CRE Herald team wishes you a happy new year and all the best for 2022.
Here are 10 of our most read commercial real estate (CRE) industry news stories of 2021.
1- America’s 20 richest real estate billionaires on Forbes 2021 list
Irvine Company chairman Donald Bren is the richest real estate baron in the United States with an estimated net worth of $15.3 billion.
2- Cushman & Wakefield cuts ties with Trump Organization
Cushman & Wakefield, the real estate brokerage firm, will no longer do business with The Trump Organization.
3- ESR to acquire ARA Asset Management for US$5.2bn
APAC focused logistics real estate platform ESR Cayman Limited has agreed to acquire 100% of the share capital of ARA Asset Management for US$5.2 billion.
4- Marriott announces world’s largest hotel-branded residential project
Marriott International has signed an agreement with Vietnam-based real estate firm Masterise Homes to develop a dual-branded residential and officetel project in Ho Chi Minh City, Vietnam.
5- WeWork completes SPAC merger to become publicly traded company
WeWork Inc. has completed its business combination with BowX Acquisition Corp., a special purpose acquisition company(SPAC), to become a publicly traded flexible space provider.
6- KKR to sell US industrial portfolio to Oxford Properties for $2.2bn
KKR has agreed to sell a 14.5 million square foot infill and light industrial portfolio to global real estate investor Oxford Properties (Oxford) for $2.2 billion.
7- Oxford Properties, J.P.Morgan sell One Memorial Drive in Boston for $825.1m
Oxford Properties Group and J.P. Morgan Global Alternatives have sold One Memorial Drive, a 409,422 square foot Class A office building in Cambridge, Massachusetts, for US$825.1 million.
8- Amazon launches $2bn housing equity fund for affordable homes
Amazon has launched the Housing Equity Fund, a more than $2 billion commitment to preserve and create over 20,000 affordable homes in Washington State’s Puget Sound region; Arlington, Virginia; and Nashville, Tennessee.
9- Blackstone to sell The Cosmopolitan of Las Vegas for $5.65bn
Blackstone Real Estate Partners VII L.P. (BREP) has agreed to sell The Cosmopolitan of Las Vegas for $5.65 billion.
10- Bill Gates’ Cascade Investment to buy controlling stake in Four Seasons
Bill Gates’ Cascade Investment, L.L.C. is acquiring a controlling interest in Four Seasons Hotels and Resorts.
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