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cpexecutive.com 6 hours, 40 minutes ago

Allianz Real Estate Provides $150M Loan For Boston Tower

The borrowers will use the funds to refinance 265 Franklin, a 21-story office building in the city's Financial District. : Allianz Real Estate has provided a $150 million loan to refinance a downtown Boston office building. The Munich-based company signed the agreement with the owner of 265 Franklin Street, a joint venture of Clarendon Properties and a fund managed by BlackRock. Located in Boston's Financial District, the 21-story 265 Franklin Street offers multi-tenant and full-floor floorplates. The office spans 350,534 square feet and includes a ground floor with retail stores that occupy the entire block and underground parking.
Read by 35% of LPs

nreionline.com October 26, 2020

Nrei's Common Area: Is The Office Dead? | National Real Estate Investor

David Bodamer is joined by Joe Brady, the CEO of the Americas for The Instant Group, a workspace innovation company. : In this episode of the Common Area podcast, David Bodamer is joined by Joe Brady, the CEO of the Americas for The Instant Group, a workspace innovation company that rethinks workspace on behalf of its clients. David and Joe discuss whether workers in the knowledge economy will ever make a full return to the office, the rise of suburban flexible office spaces and how corporate real estate leaders are re-imagining the design of the traditional office space.
Read by 66% of LPs

nreionline.com October 26, 2020

Law Firms Are Dumping A Significant Amount Of Office Space

The pandemic has boosted business at many law firms. But it also initiated a long-overdue correction to law firm operations, forcing a focus on efficiencies and the ongoing success of the firms.
Read by 51% of LPs

therealdeal.com October 25, 2020

Brookfield's $2B India Portfolio Buy Would Be Country's Biggest

Brookfield Asset Management is set to close the biggest real estate deal in India's history. The firm will pay RMZ Corp. $2 billion for a 12.5 million-square-foot office portfolio, according to Bloomberg. It includes properties in the southern cities of Bengaluru and Chennai. RMZ said the deal will leave it with zero debt and plans to use the proceeds from the sale to expand its portfolio. The firm wants to expand its real estate portfolio The post Brookfield's $2B India office buy would be biggest in country's history appeared first on The Real Deal New York.
Read by 31% of LPs

swfinstitute.org October 23, 2020

Pgim Real Estate Sells Toyobo Building In Osaka

PGIM Real Estate, a unit of Prudential Financial, Inc., has sold Toyobo Building, a 12-story high-rise office building located in Osaka, Japan, on behalf of its investors. PGIM Real Estate acquired the property in October 2017 from Toyobo Corporation, and implemented a capital improvement program to modernize the 40-year-old building. At the time of its [...]
Read by 70% of LPs

therealdeal.com October 22, 2020

VC Investor To Fund Startups Without Office Space

In a concerning turn for commercial landlords hoping that tech companies will fill office buildings, Bill Gurley of Benchmark said an office is no longer a criteria for the startups that his venture capital firm funds.
Read by 72% of LPs

cpexecutive.com October 22, 2020

Exeter Property Group Pays $85M For Pennsylvania Warehouse

In 2018, the seller financed the 1.2 million-square-foot development with a $48.8 million loan from Regions Bank. : Exeter Property Group has finalized the $85 million acquisition of a Ritner Logistics Center, a 1.2 million-square-foot industrial property in Newville, Pa. A joint venture between Artemis Real Estate Property and Verus Partners sold the building. In 2018, the seller acquired the 85-acre development site at 3419 Ritner Highway for $18.8 from a private investor, according to DataTree. Regions Bank provided a $48.8 million construction loan for the project. The single-story facility was delivered in the fourth quarter of 2019.
Read by 59% of LPs

montrealgazette.com October 20, 2020

Allied Reit Ceo Says Confidence In Montreal Undiminished Amid Pandemic

A major office tower owner is betting downtown Montreal's coronavirus-induced swoon will soon be a thing of the past. A major office tower owner is betting downtown Montreal's coronavirus-induced swoon will soon be a thing of the past. Allied Properties Real Estate Investment Trust is forging ahead with multi-million dollar plans to refurbish a newly acquired building at 700 de la Gauchetiere St. W., chief executive officer Michael Emory said. What's more, the company's commitment to Quebec's biggest city remains just as strong as before the pandemic.
Read by 73% of LPs

benzinga.com October 20, 2020

Brookfield Asset Management Inc (nyse:bam), American Equity Investment Life Holding Company (nyse:ael) - Brookfield Shuffles Real Estate Portfolio With Multiple Deals | Benzinga

The Canadian asset management company Brookfield Asset Management Inc (NYSE: BAM) is reshuffling its real estate portfolio with multiple deals. read more. : The Canadian asset management company Brookfield Asset Management Inc (NYSE: BAM) is reshuffling its real estate portfolio with multiple deals. In one deal, it is considering the sale of 2.3 million square feet of life sciences real estate for $3 billion, according to Bloomberg. In a separate transaction, it invested $2 billion in real estate in the Indian subcontinent, reports Reuters. What Happened: Brookfield is in talks to dispose of the life sciences property it acquired in 2018 from Forest City Realty Trust Inc, according to Bloomberg.
Read by 75% of LPs

therealdeal.com October 19, 2020

Nightingale Buys Whale Square Office Building In Sunset Park

Madison Realty Capital has parted with its industrial-to-office conversion in Sunset Park. Nightingale Properties paid $84 million for the Whale Square office building, property records show. Madison bought the 500,000-square-foot property at 14 53rd Street for $82.5 million in 2015, when investors were looking to convert Brooklyn industrial properties. Under Madison's ownership, the former torpedo factory was repositioned to include a fully renovated lobby, new elevators and windows, according to LoopNet. Nightingale has also assumed The post Nightingale buys Whale Square in Sunset Park for $84M appeared first on The Real Deal New York.
Read by 57% of LPs