Wednesday, October 16, 2019

NORTH AMERICA

Blackstone to acquire Bellagio from MGM Resorts for $4.25bn

Blackstone Real Estate Income Trust(BREIT) and MGM Resorts International will form a 95%/5% BREIT-led joint venture to acquire the real estate assets...

LaSalle announces life sciences property investment in San Diego

LaSalle Investment Management (“LaSalle”) has acquired partial interest in the world headquarters and life sciences campus of Illumina, a global leader in...

AECOM to sell its Management Services business for $2.4bn

Global infrastructure firm AECOM announced that it has entered into a definitive agreement for the sale of its Management Services (MS) business...

Amazon plans to open fulfillment center in Channahon, Illinois

Amazon plans to open a fulfillment center in Channahon, Illinois, creating more than 500 new, full-time jobs starting at $15 an hour. Employees...

Empire State Building announces new 102nd floor observatory

The Empire State Building announced the third phase of its top-to-bottom reimagined observatory experience, the newly renovated 102nd floor observatory.

U.S multifamily rent growth slows but still strong

Even though U.S. multifamily rents declined in September 2019, the market "remains the picture of stability" amid turbulence in the larger financial world,...

UNITED KINGDOM

Workspace provider Regus signs lease at St James’s Tower in Manchester

Global workspace provider Regus has signed a lease agreement for 26,359 sq ft office space at St James’s Tower in Manchester city...

World’s first institutional co-living fund aims to raise £650m

European real estate fund manager DTZ Investors and co-living platform The Collective have jointly launched the world’s first institutional large-scale co-living fund...

Legal & General acquires office development site in Peterborough

LGIM Real Assets (Legal & General) has agreed to forward fund a key city centre site in Peterborough, marking its twelfth Government...

M&GPrudential invests £875m in City Of London office complex

M&GPrudential will invest £875 million in 40 Leadenhall in the City of London to develop a new 905,000 square foot prime office...

UK commercial property capital values fall in September

UK commercial property capital values fell -0.4% in September 2019, according to the latest CBRE Monthly Index. In the...

Hyatt opens its first hotel in Dublin

Hyatt Hotels Corporation announced the opening of the 234-room Hyatt Centric The Liberties Dublin, the first Hyatt branded hotel in Ireland, managed by Hodson Bay...

EUROPE

Cromwell sells three office buildings in Netherlands

Real estate investor and manager Cromwell Property Group has sold three office buildings totalling 12,807 sqm in Netherlands from the Hummingbird portfolio...

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ASIA PACIFIC

Real estate investment volume in Singapore rises in Q3 2019

The total real estate investment volume in Singapore increased to $16.74 billion in the third quarter of...

ARA Private Funds closes $460m real estate transactions in H1 2019

Gobal integrated real assets fund manager, ARA Asset Management Limited has closed over US$460 million of real estate transactions in the...

Centuria acquires office asset in Brisbane for A$89M

Centuria Property Funds No.2 Limited (CPF2L), a subsidiary of Centuria Capital Group, has agreed to acquire 348 Edward Street, a 119,000-square-foot office...

Central Park Retail assets in Sydney sold for A$174.5m

Frasers Property Australia and Sekisui House Australia, the joint venture partners behind the A$2 billion Central Park in Sydney CBD, have sold...

Andaz Singapore hotel sold for S$475m

Singapore-based property developer Hoi Hup Realty has entered into a binding agreement with Ophir-Rochor Investments Pte Ltd, a wholly owned subsidiary of...

Sumitomo, BRG Group form JV for $4bn smart city project

Japanese Sumitomo Corporation and Vietnamese BRG Group have established a joint venture, a real estate development company, for the purpose of building a...

CRE FINANCE

TPG RE Finance Trust prices $1.2bn CRE CLO

Commercial real estate finance company TPG RE Finance Trust, Inc. announced that the Company priced TRTX 2019-FL3, a $1.23 billion managed Commercial Real...

LaSalle arranges over €200m mezzanine loans for Blackstone

LaSalle Investment Management (“LaSalle”) has arranged over €200 million of mezzanine loans to refinance three portfolios of last mile logistics and industrial...

DekaBank provides financing for new Amazon logistics facility

DekaBank has provided EUR 119.3 million financing which has a term of five years for the purchase of a logistics property in...

Commercial mortgage brokers optimistic about post-Brexit outlook

Despite the current political climate in the UK, commercial mortgage brokers remain optimistic about the year ahead, according to Shawbrook Bank’s Broker...

JLL arranges $386m financing for mixed-use property in Manhattan

JLL has arranged $386 million in financing for 70 Pine Street, a 66-story, 1.03 million-square-foot, mixed-use, Art Deco-style tower in Lower Manhattan's Financial District.

U.S. multifamily lending hits new record in 2018

U.S. multifamily lending hit a new record in 2018, according to the Mortgage Bankers Association's (MBA) annual report of the multifamily lending...

REIT

Rexford Industrial buys three industrial properties for $76M

Rexford Industrial Realty, Inc., a real estate investment trust focused on owning and operating industrial properties located in Southern California infill markets, has acquired...

CAREERS

Christopher Tang to retire as CEO of Frasers Property Singapore

Christopher Tang, Frasers Property Singapore Chief Executive Officer (CEO) will retire as CEO on 31 December 2019. From...

LATEST ARTICLES

PATRIZIA acquires retail properties across Germany for €100m

PATRIZIA Immobilien AG has acquired a portfolio of 27 retail properties across Germany from Marathon Asset Management for around EUR 100 million...

PS Business Parks announces addition to the S&P MidCap 400 Index

PS Business Parks, Inc., a real estate investment trust (“REIT”) that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex...

CDL secures Singapore’s first green loans for new property developments

Singapore-based City Developments Limited (CDL) has secured its first green loans amounting to S$500 million, marking the first time that green loans...

Invel to acquire 32.7% stake in NBG Pangaea REIC for €390m

Invel Real Estate (Netherlands) II B.V. (“Invel”), the investment firm focusing on real estate and distressed debt opportunities across Europe, has served...

intu appoints Matthew Roberts as Chief Executive

intu, the largest owner and manager of prime shopping centres in the UK, has appointed Matthew Roberts with effect from Monday...

JLL Australia CEO Stephen Conry elected president of Property Council

Stephen Conry, JLL’s Chief Executive Officer, Australia has been elected as the new National President of the Property Council of Australia.

Hines buys Collingwood site to develop commercial office building in Melbourne

Hines, the international real estate firm, has acquired a prominent 2,120-square-meter corner site at 36-52 Wellington Street, Collingwood, one of Melbourne’s most...

Cromwell buys Pirelli Tyre facility in Milan for Korean capital partner

Real estate investor and manager, Cromwell Property Group (Cromwell) has acquired the Pirelli Tyre facility in Milan on behalf of a new...

Investors raise record levels of capital into real estate in 2018

A record €161.7 billion ($182 billion) of capital was raised for investment into real estate around the world in 2018, according to...

HFF arranges $100m construction loan for office project in Atlanta

Holliday Fenoglio Fowler, L.P. (HFF) announced that it has arranged a $100 million construction loan for the development of Star Metals Offices,...