Citigroup Buying HQ Back from SL Green
Citigroup Inc. is exercising an option to buy back its two-building office complex at 388-390 Greenwich St. in Manhattan's Tribeca neighborhood for $2 billion. The financial services giant designated...
View ArticleSL Green: Even Manhattan Has its Limits
The blisterring Manhattan office market may be losing energy - literally, according to SL Green Realty’s CEO Marc Holliday. After SL Green posted strong results for the fourth quarter, Holliday gave...
View ArticleOffice Lease Up (Feb. 1) Omnicom Renews 167,000-SF Lease at SL Green's News Bldg
Omnicom Group extended its lease totaling 167,003 square feet in The News Building at 220 E. 42nd St. in New York City for another 15 years. The network of marketing communication agencies will remain...
View ArticleLas Vegas Sands Owner In Talks for $1.2 Billion Stadium For Raiders
Under a proposal by the Las Vegas Sands Corp., the Oakland Raiders would relocate to a $1.2 billion, 65,000-seat stadium near the Las Vegas Strip to be co-developed with City of Industry, CA-based...
View ArticleRCS Capital Files Prearranged Ch. 11 Bankruptcy in Bid to Make Clean Break...
RCS Capital Corp., the investment banking and capital markets division of Nicholas Schorsch’s once high-flying commercial real estate empire, has filed a prearranged plan of reorganization under...
View ArticleGSE’s Multifamily Lending Topped Nearly $90 Billion Last Year
Freddie Mac and Fannie Mae together pumped almost $90 billion of financing into every corner of the multifamily market last year hitting a new record high. And with recent federal adjustments to the...
View ArticleMacquarie Capital Edges Back into U.S. Real Estate
Macquarie Capital, the corporate advisory, capital markets and principal investing arm of Sydney, Australia-based Macquarie Group has acquired a minority interest in Stonehenge NYC. Stonehenge NYC,...
View ArticleAggressive Investor Activism Plus Low Market Valuations Equals More M&A Deal...
Based on activity this past week, it looks like the same trends and players that drove commercial real estate mergers and acquisitions in 2015 are set to produce another strong year of deal making --...
View ArticlePassing Comment On Possible Bookstore Plans by Amazon.com Creates Internet...
Investors, analysts and reporters tuned in to General Growth Properties' year-end conference call were anticipating the mall operator's CEO, Sandeep Mathrani, would perhaps comment on reports that...
View Article2015 Best Year for U.S. Office Sales Since 2007
U.S. office net absorption topped 100 million square feet for the first time since the Great Recession and the national office vacancy rate declined another half-percentage point in 2015 as broadening...
View ArticleHersha Hospitality Sells 7 Manhattan Hotels for $571.4 Million
Hersha Hospitality Trust (NYSE:HT) announced it will sell seven limited-service hotels totaling 1,087 rooms to a joint venture established with Chinese investment company Cindat Capital Management...
View ArticleCoStar's People of Note (Feb. 5)
It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: New York City,...
View ArticleOffice Lease Up (Feb. 8) ZF TRW Commits to 171,332 SF in Farmington Hills
ZF TRW signed a long-term lease for 171,332 square feet in the recently revamped Arboretum Office Park in Farmington Hills, MI. The company was formed last year when German car parts manufacturer ZF...
View ArticleEmbattled Univ. of Phoenix Operator to be Taken Private in $1.1 Billion...
Going against the stated wishes of its largest independent stockholder, Apollo Education Group Inc., one of the largest operators of private, for-profit education facilities, agreed to be acquired by...
View ArticleThree Top Brixmor Execs Resign After Accounting Review
Three top executives for shopping center owner Brixmor Property Group Inc. (NYSE: BRX) have resigned and former DDR Corp. chief executive Daniel Hurwitz has taken over as CEO following the company's...
View ArticleNBCUniversal Telemundo Signs Massive 560,000-SF BTS Lease in Miami
In what will surely be one of the most valuable commercial leases in Florida's history, NBCUniversal Telemundo Enterprises has signed a build-to-suit lease totaling 560,000 square feet in two...
View ArticleKBS Group Looking To Raise up to $150 Mil from Debt Offering in Israel
KBS Strategic Opportunity REIT Inc., a U.S. public, non-traded real estate investment trust based in Newport Beach, California, filed a public draft prospectus with the Israel Securities Authority for...
View ArticleAXA Financial Trades 787 Seventh Tower to CalPERS for $1.9 Billion
In one of the priciest trades of a New York City skyscraper on record, California pension fund CalPERS has purchased the 1.7 million-square-foot Equitable Center building at 787 Seventh Ave., from AXA...
View ArticleDouglas Emmett Agrees to Buy Four W. Los Angeles Office Towers for $1.34 Billion
Douglas Emmett (NYSE: DEI) on Tuesday revealed for the first time publicly that it will acquire a four-tower, 1.72 million-square-foot office portfolio in the Westwood district of Los Angeles for...
View ArticleLenders See Another Strong Year for Multifamily in 2016
Moderate economic growth and ongoing demographic drivers will keep the multifamily market moving forward in 2016, according to Freddie Mac’s Multifamily Outlook released this week. Many market...
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