Real Estate

Starwood closes Fund XI on $7.5 bln

Starwood Capital Group, the investment firm led by Barry Sternlicht, closed its 11th opportunistic real estate fund on about $7.5 billion.

LaSalle beats target with $1.1 bln raised for Fund V

LaSalle Investment Management raised more than $1.1 billion for LaSalle Asia Opportunity ("LAO V") which exceeded its target of $750 million. Capital came from 20 external institutional investors in Asia, Europe, the Middle East and the U.S.

Honest Buildings boosts Series B funding to $25 mln with two new investors

QuadReal and Altus Group invested $3.5 million in a Series B round in Honest Buildings, a project management platform for real estate owners. The additional investment brings total Series B funding to $25 million. Other investors in the funding round included Brookfield Property Partners, Oxford Properties Group, The Durst Organization, DivcoWest Real Estate, Rudin Ventures and C-III Capital Partners as well as venture capital firms including Thrive Capital, Navitas Capital and Greensoil Building Innovation Fund. Honest Buildings raised a total of $43 million to date.

Greystar Real Estate Partners opens Santiago Office

Greystar Real Estate Partners is opening an office in Santiago, Chile. Managing Director Tom Livelli will lead the office and oversee real estate investment and development.

SL Green to sell Manhattan office condo and two suburban office properties

SL Green Realty Corp. and Ivanhoe Cambridge have agreed to sell the leasehold office condominium at 1745 Broadway in Manhattan for $633 million. The buyer is an institutional client of Invesco Real Estate. And, separately, SL Green has agreed to sell two suburban office properties, 115-117 Stevens Avenue in Valhalla, New York and Reckson Executive Park in Rye, New York, to different buyers for a combined price of about $67 million.

Colony Industrial buys Westside Industrial Park for $77.5 mln

Colony Industrial, the industrial platform of Colony NorthStar, a real estate investment firm, has acquired Jacksonville, Florida-based Westside Industrial Park. The price of the acquisition was $77.5 million. Frank Fallon, Chris Riley and Trey Barry of CBRE National Partners were the real estate brokers who worked on the deal.

Benson Elliot targets over $1 bln for fifth real estate fund

London-based Benson Elliot Capital Management, a private equity real estate fund manager, is seeking to raise over $1 billion for its fifth fund, according to an SEC filing. In 2016, Benson Elliot closed its fourth fund at 634 million euros (about $782 million).

Alexandria Real Estate Equities appoints Binda as treasurer

Alexandria Real Estate Equities Inc, a real estate investment trust focused on collaborative life science and technology campuses in AAA innovation cluster locations, has named Marc E. Binda as treasurer. His appointment becomes effective April 23, 2018. Binda joined the firm in 2005.

MSD Capital acquires Dallas neighborhood property

MSD Capital LP has acquired a "significant" portion of Dallas-based Knox district, a neighborhood consisting of retail shops, restaurants, offices, and residential properties. No financial terms were disclosed.

Colony Industrial buys Enterprise Industrial Park for $52.1 mln

Colony NorthStar's industrial platform Colony Industrial has acquired San Antonio-based Enterprise Industrial Park. The price of the acquisition was $52.1 million. Randy Baird, Jonathan Bryan and Ryan Thornton from CBRE National Partners served as real estate brokers on the deal.