Freehold Properties Backs Revolution Global's Illinois Cannabis Cultivation Expansion With $29M
The cannabis-focused real estate investment company Freehold Properties announced Tuesday that it will support cannabis operator Revolution Global with up to $28.75 million in real estate capital expansion funding. Revolution Global said it intends to use the funding to more than double the capacity of its main cultivation facility. Revolution Global leases a 75,000-square-foot cultivation facility on 70 acres in Illinois, and it aims to build a new 75,000-square-foot indoor facility and additional greenhouse space at the location. The expansion costs will be covered through Freehold’s leasehold mortgage. Freehold holds an option to ...Full story available on Benzinga.com.
Healtor Secures Stacked Real Estate Board
JERSEY CITY, N.J., Oct. 16, 2019 /PRNewswire/ -- The technology company that makes it easier to manage and monetize medical and wellness office timeshares is now officially endorsed and advised by a star-studded lineup of commercial real estate experts. The Jersey City startup, which has...
Australian Manager Charter Hall Raises A$725m For Industrial Property Fund | News | Ipe Ra
The capital raising gives CPIF the capacity to grow to in excess of A$5bn. : Charter Hall Group has raised an additional A$725m (EUR442.5m) for its industrial property fund, giving the Australian manager's flagship industrial fund the capacity to grow its assets to over A$5bn. The Charter Hall Prime Industrial Fund (CPIF) - which currently has a A$3.9bn industrial and logistics portfolio of 63 assets - was oversubscribed as it received capital commitment from both local and offshore investors, the manager said.
Atlanta-area Communities Trade For $35M
Castle Lanterra Properties and Stonemark Housing Partners separately scooped up properties in the suburb of Austell, Ga.: Two nearby communities in the Atlanta suburb of Austell, Ga., have recently changed hands for a combined price of $35.1 million, in a sign of the continued strength of the metro market. Real estate investment firm Castle Lanterra Properties acquired 300 Riverside, a 220-unit community at 300 Six Flags Drive SW, for $19.7 million, according to Yardi Matrix.
invesco Acquires 9,400sqm Milan Office Building From Coima | News | Ipe Ra
Invesco bought the fully-let Palazzo Turati building for its pan-European core strategy. : Invesco Real Estate has bought a 9,400sqm office building in Milan for its pan-European core strategy. The real estate manager has acquired the fully-let seven-storey Palazzo Turati building from Italian fund manager COIMA SGR for an undisclosed sum. The building, located at Via Meravigli 7, has been let to Milan Chamber of Commerce since 1954. The asset was built in 1873 and underwent refurbishment in 2015. Palazzo Turati was purchased in 2015 by Coima and Sofaz, the sovereign wealth fund of Azerbaijan, via the Sofaz Italy Fund.
Infrared Acquires 1m Sqft Industrial Estate In Liverpool For Value-add Fund | News | Ipe Ra
InfraRed Active Real Estate Fund IV paid PS30m for the Triumph Business Park in Speke. : InfraRed Capital Partners has acquired a 1m sqft industrial estate in the north-west of England for its latest European value-add real estate fund. The manager's InfraRed Active Real Estate Fund IV has bought the Triumph Business Park in Speke, Liverpool for PS30m (EUR35m). The park comprises an existing 825,000sqft offering a range of unit sizes, 15 acres of open storage land and a 10-acre development site.
Prudent Growth Partners Moves Into Savannah Market With Latest Purchase
CHAPEL HILL, N.C., Oct. 16, 2019 /PRNewswire-PRWeb/ -- Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its acquisition of the Olde Towne at Berwick retail center, a 29,000 square foot Kroger-shadowed shopping center in the fast growing eastern Savannah neighborhood of Berwick. The transaction price was $5.45 million, and just under $2.0 million was raised from its equity investors to complete the purchase. Olde Towne at Berwick, which shares a parking lot with a neighboring Kroger, has many popular local tenants, including ...Full story available on Benzinga.com.
VCs Invested $24.6B In Proptech In 2019
The year 2020 will be when category winners will begin to be solidified in real estate tech, and that both the number of funding rounds and the size of deals will continue to increase.
A Joint Fund By Allianz Real Estate And Keppel Capital-linked Fund To Buy Beijing Office - China Money Network
Allianz Real Estate has formed a joint venture with Alpha Asia Macro Trends Fund III to acquire an 85% interest in EUR1 billion (US$1.1 billion) Ronsin Technology Center, an international grade A office complex in Beijing's Wangjing sub-district. The remaining 15% interest will be retained by the seller, D&J China. Allianz will have 62% share [...] A Joint Fund By Allianz Real Estate And Keppel Capital-Linked Fund To Buy Beijing Office comes originally from China Money Network. All Rights Reserved.
Northmarq Taps Jeffrey Weidell As Next Ceo
The 20-year veteran of the real estate capital markets firm will succeed its longtime leader, Eduardo Padilla. : NorthMarq's President Jeffrey Weidell will become CEO on Jan. 1, 2020, succeeding Eduardo Padilla at the helm of the real estate capital markets heavyweight. Padilla will assume the role of executive chair after serving as CEO for 20 years. As president of the Minneapolis-based firm, Weidell has spearheaded a variety of successful initiatives, including last year's launch of an investment sales platform, significant growth in debt production and expansion of the company's equity advisory business.
Mgm Sells Bellagio To Blackstone For $4.25B | National Real Estate Investor
The company will continue to operate the property under a lease arrangement. : (Bloomberg)--MGM Resorts International, pressured by investors to unload its remaining company-owned casinos, agreed to sell the Bellagio resort in Las Vegas to Blackstone Group for $4.25 billion and will continue to operate the property under a lease arrangement. The Las Vegas-based casino company also agreed to sell the Circus Circus property on the Strip, along with 47 adjoining acres, to real estate mogul Phil Ruffin for $825 million, according to a statement Tuesday.