Private Equity
WeWork, the New York City-based company that provides co-working and office spaces to startups and bigger companies, has raised $404 million in a total of fundings, according to several SEC filings. Crunchbase reported the funds will focus on real estate and are part of an ongoing partnership between WeWork and private equity firm Rhone Group to acquire property for WeWork's use. In May 2017, sources told real estate news outlet The Real Deal that WeWork and Rhone Group raised "several hundred million dollars" for a real estate investment fund. Also, the outlet reported that WeWork and Rhone Group were reaching out to New York landlords where a co-working company was leasing space. A spokesperson for WeWork declined to comment on the fund filings.
1 min read · 13 March 2018
Boyne Resorts has agreed to acquire six mountain resorts and a scenic chairlift attraction from Ski Resort Holdings, an affiliate of Oz Real Estate. No financial terms were disclosed. Included in the deal are Cypress Mountain in Vancouver, British Columbia; Gatlinburg Sky Lift in Gatlinburg, Tennessee; Loon Mountain in New Hampshire; and Sugarloaf and Sunday River resorts in Maine. The acquisition is expected to close later in the year.
4 min read · 13 March 2018
Blackstone Real Estate Income Trust Inc said March 12 that it acquired Canyon Industrial Portfolio for about $1.8 billion. Canyon Industrial is comprised of 146 last-mile infill warehouses and distribution buildings with major concentrations in Chicago, Dallas, Baltimore/Washington D.C., Los Angeles/Inland Empire and South/Central Florida.
3 min read · 13 March 2018
CIM Group and Strada Investment Group have acquired an Oakland, California property for apartment development. No financial terms were disclosed.
3 min read · 12 March 2018
Caliber - The Wealth Development Company, a real estate investment and development firm, has named Sherry Zins Calvert as senior vice president, private client for the Northwest regional. Previously, Calvert worked at Arch River Capital LLC, where she was managing partner, head of investment management and chair of the investment review committee.
3 min read · 12 March 2018
Strategic Storage Growth Trust Inc has acquired an approximately 900-unit self-storage facility in Chula Vista, California. No financial terms were disclosed. SSGT is backed by SmartStop Asset Management.
2 min read · 12 March 2018
Dallas-based Westmount Realty Capital LLC, a commercial real estate development and investment manager, has named Dianna Hartwell as due diligence director. Previously, Hartwell worked at Goldman Sachs where she most recently served as vice president of the legal department where she oversaw multi-million dollar acquisitions, dispositions, financings and loan originations of hotels, office buildings, apartments and other assets.
2 min read · 12 March 2018
Angelo Gordon & Co and Prism Capital have recapitalized the Wonder Lofts project in Hoboken, New Jersey for about $120 million. Parkwood Development Corp will retain an ownership stake in the project. When finished, the Wonder Lofts building will include 89 luxury residential units.
3 min read · 12 March 2018
Chicago-based Heitman LLC, a real estate investment management firm, has acquired Drentse Hoek, a residential property in The Hague, Netherlands. No financial terms were disclosed. The property consists of 91 apartments and two commercial units.
2 min read · 12 March 2018
AAM 15 Management, a private equity real estate investment and hotel management company, has acquired The Hilton Garden Inn Downtown Freeport, a Maine-based hotel. No financial terms were disclosed.
2 min read · 12 March 2018
