Private Equity
JLL Income Property Trust has acquired Charlotte, North Carolina-based Presley Uptown, an apartment community. The purchase price was about $55 million.
3 min read · 02 October 2019
Blackstone said Oct. 2 that it is buying 65 percent of Great Wolf Resorts from Centerbridge Partners. Blackstone and Centerbridge are forming a new $2.9 billion joint venture to own the company. Great Wolf is an indoor water-park operator.
3 min read · 02 October 2019
Henley Investments and Magma Equities have acquired Raleigh, North Carolina-based Arbor Crest, a garden apartment community. No financial terms were disclosed.
3 min read · 01 October 2019
Canada Pension Plan Investment Board and Boston Properties Inc have formed a joint venture to develop Platform 16, an urban office campus in San Jose, California. According to terms of this deal, CPPIB will have a 45 percent ownership stake in Platform 16 while Boston Properties will have a 55 ownership stake. This is the second joint venture between Boston Properties and CPPIB following the Santa Monica Business Park campus in Santa Monica, California in 2018. Boston Properties is a developer, owner and manager of U.S. office properties.
4 min read · 01 October 2019
Colony Capital Inc said Sept. 30 that it closed the sale NorthStar Realty Europe Corp to AXA Investment Managers – Real Assets. The deal was announced in July. Colony said it received $64.6 million in a lump sum incentive and termination fee payment and $96 million for its 11 percent ownership position in NRE, a REIT managed by the company.
4 min read · 01 October 2019
Rubenstein Partners LP and Monarch Alternative Capital LP said Sept. 30 that they formed a joint venture that has acquired the Lindbergh Center for $187 million. Lindbergh Center is a 1-million-square-foot, mixed-use property in Atlanta. Rubenstein Partners is the private real estate investment of David Rubenstein, while Monarch Alternative is an investment firm.
4 min read · 30 September 2019
Blackstone Group is buying Colony Industrial, the industrial real estate assets and affiliated industrial operating platform of Colony Capital, for $5.9 billion. Colony Industrial comprises 60 million square feet of infill, logistics assets across 465 light industrial buildings in 26 U.S. markets, with significant concentration in Dallas, Atlanta, Florida, northern New Jersey, and California. The aggregate net sales proceeds to Colony are expected to be in excess of $1.2 billion.
6 min read · 30 September 2019
Upshot Capital Advisors is seeking to raise $100 million for its second real estate fund, according to an SEC filing. Based in Orlando, Florida, Upshot is an alternative asset management and advisory firm.
1 min read · 27 September 2019
GLP has sold its U.S. logistics assets to Blackstone Real Estate. The purchase price was $18.7 billion.
2 min read · 26 September 2019
Chattanooga, Tennessee-based Hutton, a commercial real estate, development and investment firm, has named Douglas Kyle as chief development officer. Prior to joining Hutton, Kyle served as president of Armstrong Development Properties.
2 min read · 25 September 2019
