Commercial Observer The 480-room Novotel New York Times Square hotel in Manhattan has permanently closed Millennium & Copthorne owns the property, which it had bought in 2014 for $2736 million The hotel, at 226 West 52nd St, sits between Eighth...
An investor group led by Brookfield Asset Management Inc has offered to buy the partnership units that it doesn’t own of affiliate Brookfield Property Partners for $1650 each, valuing the company at $59 billion The offer marks a 14 percent...
Preferred Apartment Communities Inc has paid $1357 million for two multifamily properties with a combined 613 units in Florida The Atlanta REIT bought the properties, the Menlo in Jacksonville and the Blake in Winter Springs, from their developer,...
Paul Bayer is retiring as National Retail Properties Inc’s chief investment officer, effective Dec 31 Bayer joined the Orlando, Fla, REIT in September 1999 as vice president of leasing and took over as chief investment officer in 2010...
The coronavirus pandemic could result in roughly a quarter of New York City's hotels closing permanently within the coming year, according to the Hotel Association of New York City The trade group estimates that so far the pandemic has resulted in...
Rexford Industrial Realty Inc has paid $1294 million, or $20460/sf, for four industrial properties with 632,497 square feet in Southern California The Los Angeles industrial REIT, whose portfolio now consists of more than 30 million sf, bought the...
Apartment Investment and Management Co, or Aimco, yesterday confirmed that it had received an indication of interest to buy the Denver REIT The proposed buyer is said to be Westdale Real Estate Investment and Management of Dallas, which has a...
Crain’s New York Business Vornado Realty Trust has filed lawsuits against two tenants at a pair of its Manhattan office buildings, alleging they have not paid their rent The New York REIT sued Retailing Enterprises, which occupies space at...
Washington Business Journal New York Life Insurance Co has taken the 14 million-square-foot Dulles Town Center Mall in Sterling, Va, in a deed-in-lieu of foreclosure The lender has tapped Centennial Real Estate of Dallas to serve as the...
Commercial Real Estate Direct Staff Report Bow Street LLC had made an offer to buy Paramount Group for $950-$10/share in cash, or up to $22 billion But Paramount rebuffed the offer, saying the proposal was “inadequate” and...
